Priyanka Garg Named President of Mack Real Estate Group; Michael McGillis Appointed Vice Chairman of MREG and Continues as President and CFO of Claros Mortgage Trust, Inc.

Brett Kaplan and Regina Lubin Named Co-Heads of Mack Real Estate Credit Strategies

Mack Real Estate Group (MREG) today announced a series of leadership transitions designed to position the firm for its next chapter of growth. Priyanka Garg, who most recently served as Managing Director and Head of Credit Strategies, has been named President of MREG. Michael McGillis, who previously served as MREG’s President, has been appointed Vice Chairman of the firm. He will continue to serve as President and Chief Financial Officer of Claros Mortgage Trust, Inc. (NYSE:CMTG), the publicly traded commercial mortgage REIT managed by an affiliate of Mack Real Estate Credit Strategies (MRECS). Brett Kaplan and Regina Lubin, both Managing Directors at MRECS, have been named Co-Heads of Credit Strategies, jointly succeeding Ms. Garg in day-to-day leadership of the credit business. All transitions took effect as of July 1, 2026.

"These changes reflect the natural progression of the firm, demonstrate the depth of talent we have built, and our commitment to creating opportunities for our people from within," said Richard Mack, CEO of MREG. "Priyanka is an exceptional leader and investor. Her elevation to President is a natural next step in our broader organizational planning process, and I could not be more excited to partner with her in this expanded role as we continue to grow MREG’s equity and credit platforms together."

Ms. Garg joined MRECS in 2020 and is a member of the MRECS Investment Committee. She also serves (and will continue to serve) as Executive Vice President for Portfolio and Asset Management of CMTG. Ms. Garg previously held positions at Treeview Real Estate Advisors and Westbrook Partners, as well as earlier roles at Perry Capital Real Estate Partners and Goldman Sachs’ Whitehall Real Estate Funds. She holds a B.S. in Economics from the Wharton School of the University of Pennsylvania, an M.A. in Education from the Stanford Graduate School of Education, and an M.B.A. from the Stanford Graduate School of Business.

Mr. McGillis, who joined MRECS in 2015, has been a cornerstone of the firm’s leadership for more than a decade. In his new role as Vice Chairman, Mr. McGillis will continue to serve on the Investment Committee and provide strategic counsel across MREG’s equity and credit businesses while maintaining his roles at CMTG, where he serves as President, Chief Financial Officer, and a member of the Board of Directors. Prior to joining MRECS, Mr. McGillis was Managing Director, Head of U.S. Funds and Chief Financial Officer at J.E. Robert Companies (JER). Earlier in his career, he held senior finance and investment management roles at Freddie Mac, AEW Capital Management, and Price Waterhouse. Mr. McGillis is a member of the Board of Directors of the Tom Coughlin Jay Fund and graduated magna cum laude from Northeastern University.

"Mike is a very highly respected executive in our industry, and his contributions to MREG over the past decade are difficult to overstate," added Mr. Mack. "He has helped guide this firm through every significant milestone of the past decade – from the establishment and growth of our credit platform, to the build-out of MREG’s institutional infrastructure. His judgment, discipline, and unwavering commitment to our clients and our people have shaped who we are today. I am grateful that he will continue to be involved at the firm and at CMTG in this next chapter."

In their new roles as Co-Heads of Credit Strategies, Mr. Kaplan and Ms. Lubin will jointly oversee MRECS’s lending and credit investment activities and will join the MRECS Investment Committee. Mr. Kaplan and Ms. Lubin each joined MRECS in 2025 as part of a planned strengthening of the firm’s senior credit team. Mr. Kaplan was previously a Managing Director at LoanCore Capital, where he served as Head of Originations and, more recently, Head of Special Situations. Ms. Lubin was previously Chief Investment Officer of CWCapital, where she led a team responsible for sourcing, underwriting, structuring, and closing value-add and opportunistic investments.

About Mack Real Estate Group

Mack Real Estate Group, LLC (MREG) is an institutional real estate investment firm with roots in several Mack family real estate businesses dating back to the 1960s. Today, MREG’s vertically integrated equity and credit businesses have offices across the U.S. including New York, Seattle, Phoenix, Raleigh, and South Florida. MREG’s equity business specializes in the acquisition, development and ownership of multifamily, industrial, retail and other asset classes located in gateway and high-growth markets. MREG’s portfolio of current and realized investments represents nearly 14,000 multifamily units, 22 million square feet of industrial space, and more than 2 million square feet of retail space, including the firm’s development and pre-development pipeline. The firm’s affiliated credit business, Mack Real Estate Credit Strategies, L.P. (MRECS), has originated, co-originated, and acquired more than $20 billion of loans since 2015 across multiple lending strategies. MRECS invests across the capital stack through various public and private vehicles, and an MRECS affiliate manages Claros Mortgage Trust, Inc. (NYSE:CMTG), a publicly traded commercial mortgage REIT. For more information, visit www.mackregroup.com and follow Mack Real Estate Group on LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260715811781/en/

Media Contact:

Great Ink Communications, (212) 741-2977

Eric Waters (eric.waters@greatink.com)

Tom Nolan (tom@greatink.com)