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Matt Fries, who this week stepped down from his role as head of investment products and partner solutions at Cetera Financial Group, has joined Inland Real Estate Investment Corp., a real estate investment manager, as CEO and president. He replaces Ella Neyland, who was serving as interim CEO for the last two months.
Neyland will stay on as a strategic advisor and continue to serve as chair of IPC Alternative Real Estate Income Trust, one of Inland’s REITs. Neyland took over for Michael Ezzell, who left in June after nine years with the company, according to public filings.
In his new role, Fries will report to Tony Chereso, CEO and president of The Inland Real Estate Companies. He’ll lead the company’s long-term business strategy and oversee its public and private investment platforms. He will also drive the development of new real estate investment products, which are distributed through financial advisors and broker/dealers.
“Matt’s extensive experience spanning nearly 30 years in the wealth management side of our industry, combined with his expertise in the evolving alternative investment landscape, coupled with Inland’s more than half a century of institutional commercial real estate experience, makes for a ‘one-of-a-kind’ combination to lead Inland Investments into its next chapter,” Chereso said in a statement.
“My vision is to build on Inland’s strong foundation by expanding our investment offerings, embracing innovation and continuing to deliver outstanding results for our investors,” Fries said in a statement.
Oak Brook, Ill.-based Inland manages $16 billion in commercial real estate assets across 844 sponsored programs, including REITs, 1031 exchanges and qualified opportunity zone investments.
Wealth Management was the first to report Fries’ departure from Cetera after a decade with the broker/dealer network. Before joining Cetera in 2015, Fries was the chief operating officer and chief investment officer at Questar Capital, an independent broker/dealer that moved to Woodbury via a recruiting deal in 2019.
Fries currently serves on the board of ADISA and has previously served as chair of the Institute for Portfolio Alternatives and on the Alternative Investments Roundtable for the Securities Industry and Financial Markets Association.
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