Essential Properties Realty Trust (NYSE:EPRT) of Princeton, New Jersey disclosed a series of senior‑management changes on Wednesday. Chief Executive Officer Pete Mavoides signed a new employment agreement lasting roughly four years. Chief Operating Officer Max Jenkins was promoted to also serve as President, while Chief Financial Officer Rob Salisbury took on the additional role of Chief Strategy Officer.
Chief Investment Officer AJ Peil departed the REIT. The board appointed Craig Vachris as the new Chief Investment Officer. Vachris will oversee the asset‑management and credit‑underwriting functions. He brings more than 20 years of commercial real‑estate and net‑lease investing experience, previously serving as Chief Credit Officer at W.P. Carey, where he led credit and underwriting for a global team covering North America and Europe. His earlier roles include positions at Sovereign Investment Company, Gemini Realty Advisors and ABN AMRO. He holds a BA from Brown University and a master’s in real‑estate finance from New York University.
The internally managed REIT reported that, as of June 30, 2026, its portfolio comprised 2,493 freestanding net‑lease properties with a weighted‑average lease term of 14.3 years and a rent‑coverage ratio of 3.5 times. The lease‑rate stood at 99.6 percent, and the properties are leased to tenants operating 715 distinct concepts across 48 states.
