Lease Administrator Chelsea HolberChelsea joined Alterra in April 2023 as a Lease Administrator within the IOS team. Lease Administrator Chelsea Holber Our dedicated, in-house team of acquisition, development, construction, leasing, and asset management professionals provide tenants the resources to grow and improve their businesses through site selection, development, and/or sale-leaseback transactions. She brings to Alterra a strong understanding of real estate marketing, sales leadership, and team development. Alterra, a combination of the words altitude and terrain, seeks to maintain the rich history, stories, and culture at each property while better sharing resources, such as Aspenwares customer service software or the Ikon pass ticket platform. VP - Asset ManagementJeff Schaeffer Liberty was acquired by Prolog is in February, 2020 for $13B. Lauren also worked on acquisitions and divestitures, corporate and real estate record management, and assisted legal with various employment, real estate, and general litigation matters. Prior to joining Alterra, Lacee worked for RSM US LLP where she performed/provided transaction advisory due diligence and assurance services to her clients, which included Real Estate. [last] (ex. Blackcomb became a highly profitable asset for Intrawest and announced $112 million in renovations and upgrades the following year. In 2018, Alterra acquired 17 properties from Maxim across 12 cities in a sale-leaseback deal at the portfolio level. Parker resides in downtown Chicago with his wife and two children. January 31, 2014. Deputy General CounselJim Freeman, Esq.Jim Freeman serves as Deputy General Counsel of Alterra Property Group, LLC. The company grew to $524 million in revenue with over six million visitors across its resorts in 2013. Illustrations are artists depictions only, are not neccessarily to scale and may differ from completed improvements, and scenes may include locations or activities not on or near the property. He grew Liberty to be one of the nations leading REITs with 112million square feet logistic portfolio across 24 US markets and the United Kingdom. Today, Addimando admits he knew little about Boston as a real estate market and even less about a little-known niche of industrial property. DIRECTOR - IOS DEVELOPMENTJon CordingleyJonCordingleyjoined Alterra in 2022 as Director of Development, supporting the companys industrial outdoor storage portfolio with over 14 years of experience. Accessed April 18, 2023. https://nypost.com/2010/01/20/intrawest-foreclosure-a-threat-to-olympics/. From activist investors and run-ins with aggressive creditors, Alterra, and formerly Intrawest, overcame significant corporate turmoil to reach its current steady and sustainable state. The company is comprised of a highly qualified team of professionals that handle all Please try again later. Gains from Investments in Snowmaking Facilities. Ecological Economics 130 (October 2016): 339349. 1 (June 22, 2007): 123. For example, within the first season of owning Stratton, four high-speed chairlifts were installed, improving the skier experience. Alterra Property Group January 20, 2010. Intrawest and other investors found the ski industry especially attractive because of the underlying value and stability from real estate, while resorts also generated revenues from lift passes, dining, and on-mountain experiences. VP - IndustrialMark Gannon Previously, he spent time in several asset management roles at Resource Real Estate, a multibillion-dollar series of privately held real estate funds, primarily focused on multifamily asset transformation through value-add redevelopment efforts. Mr. Hankowsky joined Liberty in 2001as chief investment officer, in 2002 was named president, and in 2003 appointed chief executive officer and elected chairman of Libertys board of trustees. WebManage Products and Account Information Support Americas +1 212 318 2000 EMEA +44 20 7330 7500 Asia Pacific +65 6212 1000 Company About Careers Diversity and document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Your email address will not be published. Management continued to expand rapidly by purchasing assets in West Virginia with Silver Creek and Snowshoe for $40 million in 1995. Copyright 2023 Bisnow. Accessibility Statement. Alterra Property Group is a real estate development, investment and management company with more than $2 billion in real estate investments. In March, Alterrasold a 250K SF building in West Philly, one of the largest modular apartment projects in the country, for $88M. Granito, Alison. Leah is experienced in implementing innovative systems and creative strategies resulting in established brand identity, enhanced customer engagement, and lead generation. Feb 1, 2021 A year after establishing a venture with JPMorgan Chase & Co., Alterra Property Group has deployed $250 million of $300 million to buy industrial Previously, Greg was a Sup ervisor, Maintenance at American Management and also held positions at WinnCompanies, Village Green Companies. He received a Bachelor of Arts degree in economics from Brown University. Every homeowner becomes a member of the Alterra family, a legacy going on 50 years. Creditors threatened to auction off the companys assets to pay the outstanding debt. Liam lives in Philadelphia with his Wife and two Mutts. See jobs Follow View all 57 Roy, Priya A. Previously, Gavin worked at HFF in Philadelphia on the debt and equity placement team. The incredible investor support for this fund is a testament to both the market opportunity within IOS and to investors confidence in the Alterra team as fiduciaries.. ALTERRA CAPITAL HOLDINGS LTD : Stock Price WebAlterra Property Group Real Estate Investment, Development and Management Who We Are Alterra Property Group, LLC (Alterra) is an established real estate investment, Liam works as Senior Development Manager focusing on Mixed Use and Industrial projects. All Rights Reserved. Whereas private equity firms are mandated to generate returns by buying private companies, hedge funds have a wider scope to trade any publicly listed or privately held security. After Turner, Mark worked 7 years at one of Philadelphias preeminent professional project management/real estate services company, Aegis Property Group. It was not for another decade that the firm became interested in the ski industry. Limited partners in the fund included a wide mix of public and private pensions, endowment and foundations, asset managers, family offices, and high net worth individuals. Necessity is the mother of invention," Addimando said. Working for two of the leading industrial logistics companies in the world has provided Jim with substantial experience and with key insights into the industrial space, which he brings to his current position at Alterra. and striving to provide real estate solutions to tenants. Our dedicated staff of industry experts strive to provide the highest level of management services for residential, retail and commercial properties. The catalyst for Alterra's expansion was when Addimando's friend Frank Bardonaro calledon behalf of his company, Maxim Crane Works. Mark has a Bachelors degree from the University of Pennsylvania and currently resides outside of Philadelphia with his wife and son. Maximizing Value in the Real Estate Private Equity Space: Expansion, Competition, and Alliance. The Journal of Private Equity, vol. These investments reflected broader positive trends in the real estate market during the 1990s driven by the 5-percent decline in the Federal Funds Rate from 1990 to 1993. She remained at Liberty until February 2020 when it was acquired by Prologis. Accessed April 26, 2023. https://www.reuters.com/article/us-intrawestresorts-ipo-idUSBREA0U1EM20140131. Alterra Mountain Company Plans to Invest Nearly Half a Billion Dollars in Transformational Changes in the Year Ahead. Alterra Mountain Company. Jeffs 15 years in real estate have allowed him to gain a wealth of experience in both the legal and business aspects of the industry. While the Global Financial Crisis exposed some risks in working with private equity firms, without the financial support and knowledge of Fortress investors, Intrawests story could have taken a turn for the worse, adding its name to a long list of failed companies in 2008-09. Matt is actively involved with Whartons Zell Lurie Real Estate Center and is a member of the board for Georgetowns Steers Center for Global Real Estate. He has also held several senior positions with Philadelphia based development groups, including Shift Capital, a mission based Social Impact Fund. PROJECTS BY EMORY UNIVERSITY HISTORY STUDENTS. FEDERAL CAPITAL PARTNERS, CROSS PROPERTIES 7rscampoli@marketcompr.com, Australian 7-Eleven franchise puts 700-store chain up for sale, UPDATE 1-Sudan conflict shows no sign of easing, Sudanese brace for more violence, Saudi's United Electronics Co shelves plans for Egypt expansion, Alibaba's Jack Ma turns up in Japan as college professor, Japan's Nikkei crosses 29,000 as yen weakens on BOJ's dovish stance. Alterra Property Group. They often pressure management teams into making quick and decisive business decisions, such as laying off employees or selling core business units. Wesley Edens, Chairman of Fortress, commented on the great opportunity to continue Intrawests evolution into a leading global leisure player. Intrawests challenges on the public market highlight the business risks of ski industry companies, including exposure to unpredictable weather conditions, capital intensive equipment requirements, and consumer spending. Interested in joining our team? Associate - Asset ManagementGillian ZhaoGillian joined Alterra Property Group (Alterra) in May 2022, where she directly works on and helps with the asset and portfolio management for Alterras Industrial Outdoor Storage platform. Before working at Orbitz, Leo worked as an Associate for the Boston Consulting Group. Currently, in his role at Alterra, Leo oversees management of the firm, provides overall vision and leadership to the company, serves on its Investment Committee, raises capital, overseas residential, mixed-use, and industrial development, and spearheads the firms residential/mixed-use development and investment strategy. Jonearned a Master and Bachelor of Architecture from Texas Tech University, as well as a Master of Real Estate from Georgetown University. Leah McVay joined Alterra Property Group in September of 2017. This is not a step He led all leasing, asset management and development for both the industrial and office portfolio. She is responsible for managing the overall marketing strategy for the residential portfolio to include digital marketing/ advertising, social media, and product launch. Alterra Reporters for Travel Weekly noted that this hire demonstrated a pivot for Intrawest from a real estate development company to a ski resort operator. By 2013, the economy was rebounding from the Great Financial Crisis suggesting that the valuation drop was specific to Intrawest. Clydesdale, Greg. He was formerly the head of real estate for an international transportation and logistics company. Venture II was oversubscribed, closing $524MM of total commitments, exceeding the original fundraising goal of $400MM. Accessed April 17, 2023. https://www.perenews.com/fortress-buys-intrawest-for-2-8bn/. Automotive, Household Appliances, Constructions, Number. Prior to joining Alterra, Jim served as lead transactional counsel for the East Region at Prologis (PLD) where he oversaw over $1B in acquisitions, dispositions and development projects annually. Stratton was a four-season resort, making it a lucrative investment for Intrawest beyond the ski season. Alterra Property Group Accessed April 17, 2023. www.pitchbook.com. This community is located in the southern section of Chino Hills, off the Soquel Canyon Road exit of the 71 Freeway. As a leading Canadian real estate developer, Joe Houssian was introduced to Davis despite his complete unfamiliarity with the ski industry. Prior to joining Liberty, he served for 11 years as president of the Philadelphia Industrial Development Corporation and before that served as the city of Philadelphias Commerce Director. Sean graduated from Boston University where he majored in Finance and was a member of the mens lacrosse team. Creating a business model around that vision broke the mold in the hotel/retail/festival industry. This new strategy transformed how people viewed the ski industry. degradable, Indiana Plant 2213 Killion Ave Seymour, IN 47274 +1(812) 271-1891. Prior to Alterra, Tom worked for several private real estate equity firms in the Philadelphia area within multiple real estate asset classes. Formerly at Fischer & Company, he spent his time leading the IOS brokerage team which represented several Fortune 500 companies in achieving their national and global strategic real estate portfolio needs. And, over the next three years, Intrawest grew revenue to $570 million before ultimately garnering new interest from private equity investors. MarketScreener: Created by Investors for Investors! in Finance from Georgetown University. Alterra Property Group Jeff is a Partner, General Counsel and Co-Founder of Alterra Property Group. Ultimately, on August 11, 2006, Intrawest accepted an offer from Fortress Investment Group for $2.8 billion at $35 per share to become an independent, privately held company. Material Development, Formula Development, Parker focuses on sourcing, underwriting and acquisition due diligence for Alterras Industrial Outdoor Storage platform. Last modified January 31, 2014. Liam is a graduate of Stony Brook University with a BS in Economics. Intrawests Continued Struggles Attracted New Interest. Thus, Fortress likely needed to sell some, or all, of its stake in Intrawest. Tom Baker joined Alterra Property Group in May of 2017. Addimando said. "So we started searching for data on how big the market was and tried to create an investment thesis for it.. Jeff received an MBA and a B.A. As the controller, Tom is responsible for the management and oversight of the financial reporting and accounting functions of the company, as well as financial deliverables that are due to Alterras investment partners. Alterra Prior to forming Alterra, Jeff began his career at the Philadelphia-based law firm of Stradley Ronon Stevens & Young, where he honed his skills in commercial real estate and finance. Since its formation in 2006, Park Madison has advised on over $20 billion in private capital placements for a wide range of real estate vehicles including closed-end funds, open-end funds, separate accounts, programmatic joint ventures, and recapitalizations. Co-Founding Partner & General CounselJeff PustizziJeff is a Partner, General Counsel and Co-Founder of Alterra Property Group. Alterra has established itself as an early entrant and market leader within the IOS space. 2, (Spring 2015): 5970. "Clearly, they not only succeeded in Boston, but ultimately handled projects for us on a coast-to-coast basis.". However, in a 2016 study, Professors Marijke Taks and Jona Ragoen found that ski participation in recessions broadly declines. Currently, in his role at Alterra, Leo oversees management of the firm, provides overall vision and leadership to the company, serves on its Investment Committee, raises capital, overseas residential, mixed-use, and industrial development, and spearheads the firms residential/mixed-use development and investment strategy. Lacee joined Alterra in September 2018 as a senior accountant working directly with Alterras investment partners. Associate - Acquisitions & Asset ManagementGavin WeaverGavin focuses on acquisition opportunities and asset management functions at Alterra Property Group. He also holds a LEED AP designation under the USGBC. Alterra Property Group LLC - Company Profile and News Accessed April 16, 2023. https://scholar.uwindsor.ca/humankineticspub/40. Parker has 12 years of experience in the real estate industry leading strategic business development across several asset classes. He currently resides in South Philadelphia.
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