StratCap Digital REIT Loses President, Head of Data Center Investments
Editor’s Note: Language in this article naming the successor to Brian B. Marsh III, formerly head of data center investments of the adviser and sponsor, has been removed. The company’s amended U.S. Securities and Exchange Commission filing on Aug. 5, 2026, removed that information, and Erik Rostvold, chief risk officer of the sponsor and the adviser, confirmed the “clerical error” to AltsWire. The latest filing does not name a successor to Marsh; additionally, Rostvold said Chris Flynn remains in his chief investment officer of data centers role.
James A. Condon has resigned as chairman, director, and president of StratCap Digital Infrastructure REIT, effective immediately, as the nontraded, perpetual-life real estate investment trust continues a strategic alternatives review that has left distributions suspended since April. The REIT said Condon’s resignation is not due to any disagreement with the company or its board.
The board appointed Adam Baxter, previously the company’s secretary and a board member since September 2024, to succeed Condon as chairman and president. Baxter has also served as secretary of the company’s external adviser and its sponsor, StratCap Investment Management LLC, since July 2025. He has been a managing director at HMC Capital, the sponsor’s parent company, since September 2024, where he oversees growth initiatives and corporate development in North America. He previously held managing director roles at Argo Infrastructure Partners and Macquarie Group.
Condon also resigned as president of the adviser and sponsor, positions Baxter has assumed.
Separately, Bryan B. Marsh III resigned as head of data center investments of the adviser and sponsor, in a departure the company also said was not tied to any disagreement. The company has not said who, if anyone, will assume the position.
The leadership changes come as StratCap Digital Infrastructure REIT’s board continues weighing a sale, merger, or liquidation under the formal strategic alternatives review it launched in April, which also led the company to terminate its public offering and distribution reinvestment plan and suspend monthly distributions. As of its July 8 letter to stockholders, the board had not settled on a specific path forward.
The REIT focuses on digital infrastructure assets, including data centers, cell towers, wireless easements, and fiber networks.
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