Commercial Real Estate Platform VTS Losing Its CTO and COO – Commercial Observer

Commercial real estate platform VTS loses two members of his C-suite.

Chief Technology Officer Niall Smart and Chief Operating Officer Patrick Kehoe resigned from office last week – with a planned departure in September – stating personal reasons, The only true reported.

“These two people are leaving the VTS team after more than eight years of service in the best sense of the word,” CEO Nick Romito said in a statement to Commercial Observer. “We have been working individually with them on their transition for months and this was not a sudden decision but a personal decision for them to spend more time with their families during this very stressful time.

“We announced their departures together because it felt like a period when the team could honor them together,” added Romito.

Both Smart and Kehoe are from Ireland and joined after the merger with VTS High tower in 2016, according to TRD. Romito told TRD that their terminations had nothing to do with one another and had nothing to do with a “fundamental reason” related to VTS.

VTS plans to find a replacement for Smart’s CTO position, but not the COO, so TRD.

The news comes hired as a VTS Lexi Russell from CBRE as regional senior research manager for the San Francisco Bay Area and Seattle, reported Commercial Observer.

And in March, VTS made waves when it acquired another proptech startup Elevate Buildings for somewhere “near $ 100 million,” a source previously told CO.

To update: This story has been updated to include a comment from VTS CEO Nick Romito.

Nicholas Rizzi can be reached at [email protected].