The IOS market is a $200BN market that is highly fragmented with limited institutional ownership. Kosman, Josh. Prior to Alterra, Tom worked for several private real estate equity firms in the Philadelphia area within multiple real estate asset classes. 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. communities for almost 50 years. Interested in joining our team? Director - IOS ConstructionLiam SullivanLiam works as Senior Development Manager focusing on Mixed Use and Industrial projects. He began his career in real estate at Blackstone (2007-2012). Chelsea holds her Bachelors of Business Administration in Marketing from the University of Pittsburgh. He currently resides in South Philadelphia. towards a paywall. We need you to be cool with us holding onto your email address (if we already have it) and for us to email you about commercial real estate news and events. As the global economy rebounded in the early-2010s, the ski industry saw tourists return to the slopes and lodges, providing a much-needed lift on revenues. Since 2005, Alterra has executed hundreds of real estate transactions across 30+ states, including the acquisition of over 100 industrial outdoor storage properties over the past 5+ years. Email. Sean focuses on acquisition opportunities and asset management functions at Alterra Property Group. SVP- IndustrialCharlie Totten On March 21, 1990, Intrawest filed with the Toronto Stock Exchange to trade under the ticker ITW. jane@alterraproperty.com). VP - IndustrialMark GannonMark focuses on sourcing, underwriting and acquisition due diligence for Alterras Industrial Outdoor Storage platform. WebAlterra Wynwood is an assisted living residence that is purposefully designed to meet the needs of the frail elderly in a comfortable, home-like environment. "There are the zoning restrictions, and traditional industrial investors have converted a number of IOS properties. Carolyns legal/real estate career began at law firms in Kalamazoo, MI (Legal Secretary) and then Atlanta, GA (Paralegal). 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. Alterra focused on hiring and elevating "high-ceiling individuals" to handle elements of both multifamily and industrial outdoor storage that Addimando might have previously done himself, he said. SVP- Development & ConstructionMark Cartella Gains from Investments in Snowmaking Facilities. Ecological Economics 130 (October 2016): 339349. Matt and his wife have two children and reside outside of Philadelphia. I know where to be pushing rentsand where concessions are needed" across Alterra's properties, he said. Prior to joining Alterra, Chelsea was a Lease Management Analyst within the accounting department at Gopuff, a Philadelphia based startup. Lauren works closely with all members of the Industrial Outdoor Storage team on transactions, due diligence, compliance, and insurance. Contact. Creating award-winning By mid-March, thefund had closed after raising $524M, wellabove its goal of $400M. Prior to joining Alterra, Rory was the Corporate and Fund Accountant for Rubenstein Partners L.P. working on the corporate entities and funds. Alterra Property Group is a real estate development, investment and management company with more than $2 billion in real estate investments. His clients include Tesla, Rolls-Royce, Chevron, and ExxonMobil Global Real Estate, among others. The Alterra IOS team brings an institutional comprehension of the municipal, environmental, and logistical complexities in acquiring, leasing, and occupying mission-critical real estate for this often-overlooked sector of the U.S. industrial landscape. Most recently Carolyn worked at Capano Management Company as a Paralegal and Lease Negotiator. Accessed April 18, 2023. https://www.summitdaily.com/news/business/intrawest-announces-restructuring-of-debt/. WebThe most common Alterra Property Group LLC email format is [first]. "Were evaluating development opportunities in other markets right now, taking the modular development approach weve honed in Philadelphia. Co-owner and developer, bringing Canada's first Ace Hotel to the city. Mark was born and raised in the Philadelphia area and currently resides in South Jersey with his wife and three children. Matt has been involved with over $1 billion of transactions during his time at Alterra. Dealing with Activist Hedge Funds and Other Activist Investors. Web log. We understand that we have a responsibility. She is a licensed Certified Public Accountant for the State of Pennsylvania and a member of the AICPA and PICPA. Granito, Alison. At this time, Fortress had owned Intrawest for seven long years. No company is too large, too new, or too successful. For Intrawest, management was metaphorically infected by the 18% stake Thomas Hudson Jr. and his activist hedge fund Pirate Capital owned in 2006. Through 2011 and 2012, Intrawest and Fortress navigated its way out of the difficult economic period with less debt to position the business for long-term, sustained success. In 1996, they purchased 31% of Mammoth Mountain in California. Leah is a graduate of Temple University with a Bachelors degree in Communications. Carolyns legal/real estate career began at law firms in Kalamazoo, MI (Legal Secretary) and then Atlanta, GA (Paralegal). Accessed April 17, 2023. https://corpgov.law.harvard.edu/2022/09/02/dealing-with-activist-hedge-funds-and-other-activist-investors-5/. 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. All Rights Reserved. She is responsible for managing the overall marketing strategy for the residential portfolio to include digital marketing/ advertising, social media, and product launch. Jensen Hire Means a Sharper Focus on Hotel Ski Business for Intrawest. Travel Weekly. New Owner Will Change Snowshoe. The Roanoke Times, October 2, 1995. She is responsible for managing the overall marketing strategy for the residential portfolio to include digital marketing/ advertising, social media, and product launch. He has also held several senior positions with Philadelphia based development groups, including Shift Capital, a mission based Social Impact Fund. Improvements, facilities and programs are in formative stages. Search jobs. 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. He began his career in real estate at Blackstone (2007-2012). Chelsea joined Alterra in April 2023 as a Lease Administrator within the IOS team. Canada went through a recession in the early-1980s from rising inflation, thus creating a bad economy for foreign investors to enter and compete against Intrawest. 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. Lauren works closely with all members of the Industrial Outdoor Storage team on transactions, due diligence, compliance, and insurance. At first, Alterra leaned on friends and family to help finance its acquisitions, eventually getting an investment from a family investment office. Holding positions in both Development and Construction, Liam successfully brought to market projects throughout the U.S. and Canada. Plenty of commercial real estate companies operate in multiple asset classes, but few have a portfolio like Alterra Property Group. 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. VP - Asset ManagementJeff SchaefferJeff oversees all asset management functions for Alterra Property Group. Roy, Priya A. He holds a B.S. Jim began his career in private practice as an attorney in 2000 at Latham & Watkins in London, UK and Washington, DC and then at Blank Rome in Philadelphia before joining a client, StoneMor Partners (STON), as Assistant General Counsel in 2016. He currently resides in South Philadelphia. The 2007-2008 Financial Crisis: An Avalanche Smashes the Ski Industry. Upon moving to PA, she began working at Liberty Property Trust as a Paralegal, transitioning to Director of Due Diligence after 11 years. Liam is a graduate of Stony Brook University with a BS in Economics. Accessed April 17, 2023. https://www.nytimes.com/1998/07/15/business/company-news-intrawest-acquires-sandestin-resorts-for-130-million.html. Late last year, Alterra launched its first discretionary fund in partnership with New York-based Park Madison Partners. There was an error trying to send your message. Leo is married to Brigitte Castaing Addimando (HBS 05), has three children (Nico, Marcus, Sophie) and in his spare time enjoys spending time with family, exercise, golf, attending live sporting events (youth and professional), and travel. As institutional investors seek more diversification within their real estate portfolios, Alterra has clearly positioned itself as a leader within the IOS space. Carolyn earned her BA in Psychology and Sociology from the University of Michigan and has a Paralegal Certificate. Focused on low building coverage sites with large, stabilized yard space to accommodate an array of uses such as vehicle, material, and equipment storage, Alterra brings an institutional comprehension of the municipal & logistical complexities in securing mission-critical real estate for the often-overlooked sectors of the U.S. industrial landscape. The company raised $188 million through the IPO at a valuation of $540 million, down sharply from the $1.8 billion in Fortress 2007 purchase. Clausing, Jeri. But Alterra'sacquisition of the sitefor leasing to Maxim led Bardonaro to realize the benefit of focusing more capital expenditure on his company's vehicle fleet. APG IOS is Alterras industrial real estate platform dedicated to providing real estate solutions through property acquisition, development, management & leasing for tenants in the heavy industrial & outdoor storage space. Rory also worked at EY in the Wealth and Asset Management Assurance group,working on mutual fund, hedge fund, private equity fund audits and accounting systemtransitions. WebAlterras leadership is strong with cross-disciplined industry-experienced leaders dedicated to quality, innovation customer partnership, and product development. 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 Company News; Intrawest Acquires Sandestin Resorts For $130 Million. The New York Times, July 15, 1998. Above all else, the emphasis on the skier, employee, and community experiences continues to shape the brand. With smaller transactions that average between $5-20MM Cochran, Bill. Jim joined Prologis after it acquired Liberty Property Trust (LPT), where Jim served as lead transactional counsel overseeing and managing the acquisition, disposition, construction and development of industrial facilities throughout the United States. Our news is free and we intend to keep it that way. 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. An activist hedge fund looks to take an active position in their investment by working closely with management to extract value. WebLearn about Alterra Home Loans Chino, CA office. Lacee holds a Masters in Accounting from the University of Maryland-College Park and an undergraduate degree in accounting from the College of Charleston. Lauren earned her bachelors degree from Arcadia University and currently resides in Philadelphia. in Economics and Political Science from the University of Michigan, Ann Arbor. September 8, 2016. Ski Development and Strategy. Tourism and Hospitality Planning & Development 4, no. 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. Later, in 2004, Intrawest reorganized its mountain and warm-weather resorts into a new corporate division called the Leisure and Travel Group. [last] (ex. Mattattended Arizona State with a degree in Business Administration Marketing. Over the course of his career, Mark has successfully managed the design and construction of various building product types ranging from highly sophisticated healthcare facilities, historic preservation/adaptive reuse buildings, higher ed/K-12 institutions, office space, and multi-family/mixed used developments with an aggregate volume valued in the billions . The constant shifts, setbacks, and advancements over the last 40 years for Alterra demonstrate the greater resiliency of the ski industry. On the public side, Tom gained extensive real estate accounting and auditing experience while working for the operations and development teams of a global real estate investment trust and as an assurance auditor for PricewaterhouseCoopers (PwC) in their asset management practice (Funds and Real Estate). Leo has an MBA from the Harvard Business School (HBS) and a B.A. -, Alterra Capital Holdings Ltd : Markel Announces Completion Of Alterra Acquisition, Alterra Capital Holdings Ltd : Markel Reports First Quarter 2013 Results, Alterra Capital Holdings Ltd : Markel And Alterra Shareholders Overwhelmingly Approve Acquisition. Designing and delivering homes that define the district and invigorate the neighbourhoods around them. 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. Municipalities arent creating more outdoor storage, but every MSA needs it for its supply chain infrastructure.. 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. But, to date, the effect of private equity has already been considerable with the introduction of new season passes for customers, substantial reinvestments in surrounding communities, and prioritization of environmental progress through snow-making and grooming technology. He has 9 years of experience in the real estate industry. We're not asking for your money. The company is comprised of a highly qualified team of professionals that handle all aspects of acquisition, entitlement, project/construction management, asset management, leasing, property management, accounting, and investor reporting. Alterra Property Group, LLC (Alterra) is an established real estate investment, development, and management company based in Philadelphia, PA. Rory also worked at EY in the Wealth and Asset Management Assurance group,working on mutual fund, hedge fund, private equity fund audits and accounting systemtransitions. From our inception born out of one original tenant relationship, the Alterra IOS team has understood the importance of listening to the occupier industries (transportation and logistics, equipment rental, building materials, etc.) Maxim was being forced to vacate a lot in Boston and Bardonaro was having no luck finding a new place to store cranes after a year of searching.
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