WASHINGTON, D.C. (Nov. 19, 2024) – During its REITworld: 2024 Annual Conference, Nareit announced the winners of its industry leadership and achievement awards.
The Nareit 2024 Industry Leadership Award was presented to Timothy J. Naughton, executive chairman of AvalonBay Communities, Inc. and Nareit’s 2017 chair.
While presenting Naughton with the award, W. Matthew Kelly, CEO of JBG SMITH, and Nareit’s 2024 chair, noted his lasting impact on the multi-family sector and the industry at large.
“Tim has played a pivotal role in the industry for more than 30 years, shaping its future and leaving a lasting legacy, particularly within the multifamily sector,” said Kelly. “Through his leadership at AvalonBay Communities, and as Nareit chair in 2017, Tim led with a vision and a commitment to serving the industry. He continually raised awareness of the value of REITs for communities and investors alike, and this award is a testament to his unwavering dedication to innovation and excellence in real estate investment.”
Nareit gives its annual Industry Leadership Award to a REIT executive who has made a significant and lasting contribution to the growth and betterment of the industry. The award is presented in memory of Edward H. Linde, the late CEO of BXP, formerly Boston Properties.
The Nareit 2024 Industry Achievement Award was presented to Prentiss E. Feagles, a partner at Hogan Lovells.
In announcing Feagles as this year’s award winner, Conor C. Flynn, CEO of Kimco Realty Corporation and Nareit’s 2025 chair, discussed Prentiss’ influence on the REIT industry.
"Prentiss is one of the leading tax authorities for REITs and their partnerships, and is known for his judgement and solutions-oriented mindset.” said Flynn. "For more than 25 years, he has brought unmatched knowledge to this industry, guiding some of the largest REITs through IPOs, mergers, and other complex transactions. Prentiss also brought that same acumen to Nareit’s Government Relations Committee, and his active engagement with the committee helped strengthen Nareit’s reach and impact. This award honors his dedication, sagacity, and lasting contributions to the industry.”
The Nareit Industry Achievement Award is given annually to professionals serving the REIT industry whose knowledge and integrity have helped heighten awareness and understanding of the value of REITs and publicly traded real estate. The award is presented in memory of E. Lawrence Miller, the former CEO of one of the industry’s first REITs, Bradley Real Estate Trust.