Accessed April 17, 2023. https://www.hedgeco.net/news/05/2006/pirate-capital-hedge-fund-boosts-stake-in-intrawest.html. Number. Automotive, Household Appliances, Constructions, Required fields are marked *, Notify me of followup comments via e-mail. PROJECTS BY EMORY UNIVERSITY HISTORY STUDENTS. 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. CORRECTION, APRIL 14, 10:15 A.M. During his career, Liam has managed development and construction of projects ranging from historically significant adaptive reuse to technical healthcare facilities including a BSL3 to mixed-use developments. Previously, Greg was a Sup ervisor, Maintenance at American Management and also held positions at WinnCompanies, Village Green Companies. Accessed April 18, 2023. https://www.alterramtnco.com/news/announcing-alterra-mountain-company. Houssian negotiated a $3.7 million deal for 50 percent of Blackcomb Skiing Enterprises with an option to purchase the remaining 50 percent in five years for $5.8 million. Parker resides in downtown Chicago with his wife and two children. "Were evaluating development opportunities in other markets right now, taking the modular development approach weve honed in Philadelphia. Most recently Carolyn worked at Capano Management Company as a Paralegal and Lease Negotiator. The ski industry has undergone significant evolution over the last 20 years as resorts have come and gone, innovative technology has transformed the mountain experience, and demographic shifts have introduced new people to the sport. DIRECTOR - IOS DEVELOPMENTJon CordingleyJonCordingleyjoined Alterra in 2022 as Director of Development, supporting the companys industrial outdoor storage portfolio with over 14 years of experience. Thank you for your message. 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 also holds a LEED AP designation under the USGBC. Whereas financial executives ran Intrawest under Fortress ownership, KSL and Aspen Skiing Company instead appointed experienced operators, such as the former CEO of Mammoth Mountain Rusty Gregory. Last modified December 5, 2008. Mark focuses on sourcing, underwriting and acquisition due diligence 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. Prior to joining Alterra, Rory was the Corporate and Fund Accountant for Rubenstein Partners L.P. working on the corporate entities and funds. Mr. Hankowsky has extensive public company experience in addition to his time at Liberty Property Trust, having served on the Board of Essential Utilities (NYSE:WTRG) from 2004-2019, and at various times chairing the Audit and Compensation Committees. He holds a B.S. New Owner Will Change Snowshoe. The Roanoke Times, October 2, 1995. Intrawest Resort Holdings, Inc. Form S-1 2016. November 12, 2013. Over 17+ years as a real estate entrepreneur, Leo has gained experience with a diverse range of real estate product types, acquired industrial properties in 30+ US States, closed over $2.5B of real estate transactions, acquired or developed over 3,500 residential units, structured dozens of complex transactions, and overseen all aspects of numerous residential, commercial, industrial, and mixed-use real estate development projects. Harvard Law School Forum on Corporate Governance, September 2, 2022. With the looming collapse, Intrawest entered into a restructuring plan on April 28, 2010 to refinance $1.2 billion of loans. 18, no. All Rights Reserved. Contact. Tom holds a Bachelors Degree in Accounting from West Chester University and is a Certified Public Accountant for the Commonwealth of Pennsylvania. Currently, Gillian lives in Philadelphia with her fianc-to-be and two lovely cats. Alterras value creation and capital reinvestment efforts surround three primary facets the customers, employees, and environment to create a better mountain experience. She worked on licensing and regulatory matters for 400+ properties throughout the United States. Addimando remains deeply involved in the company's strategy in the sector, and he served as president of the Building Industry Association's Philadelphia chapter last year. 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. WebCompany profile page for Alterra Mountain Co including stock price, company news, press releases, executives, board members, and contact information Today, Alterra is one of the largest institutional owners of IOS properties in the U.S. We are very excited at Alterra to have completed the fundraising for Venture II, our first discretionary Fund. Fortress is a private equity firm that invests in businesses with strong asset bases and cash flows, such as real estate. towards a paywall. We need you to know that security is our top priority and that we hold any information we have about you under lock and key. Alterra currently manages 2000+ upscale residential apartments under our residential management division APG Living. Matt and his wife have two children and reside outside of Philadelphia. 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. Supply of IOS is constrained for a few reasons," said Matt Pfeiffer, Addimando's fellow managing partner who runs the day-to-day operations of the IOS business. Mattattended Arizona State with a degree in Business Administration Marketing. So far, we havent felt like conditions are right to expand into a new market; weve been sort of waiting for a correction on that front.. See reviews, salaries & interviews from Alterra Home Loans employees in Chino, CA. Pirate Capital Hedge Fund Boosts Stake in Intrawest. HedgeCo.Net. In addition to helping him assess the viability of growing the multifamily business, Addimando's exposure to so many other marketsgave him perspective on what is possible and sensible in Philadelphia. 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. In a Reuters article, Josef Schuster, a financier focused on IPOs, suggested that the market is getting more sensitive to where IPO proceeds go to, and favors firms where proceeds are earmarked for growth versus reducing leverage or going to selling shareholders. For Intrawest, the IPO proceeds were raised to reduce leverage and provide liquidity to selling shareholders instead of investing in new growth initiatives. The firm raised CAD$26 million through the initial public offering (IPO) to use in acquiring more ski assets, such as purchasing Mont Tremblant for $22 million in 1991. Intrawests Continued Struggles Attracted New Interest. Last modified January 21, 2008. In developingand managing properties hyperlocally like were doing in Philadelphia and Greater Center City, you can take for granted that you know the local laws and players," Addimando toldBisnow. The companys industrial outdoor storage platform focuses on acquiring and developing industrial sites throughout the United States. 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. Chief Financial OfficerThomas Baker, CPATom Baker joined Alterra Property Group in May of 2017. Only a handful of Alterra employees have duties across both verticals, while around 50 focus exclusively on multifamily and 15 or so do the same with industrial outdoor storage. Director of MarketingLeah McVay Alterra Property Group, LLC (Alterra) is an established real estate investment, development, and management company based in Philadelphia, PA. Park Madison Partners served as the exclusive placement agent. Gavin graduated from the University of Delaware where he majored in Finance and currently lives in Center City Philadelphia. "He quickly responded, put us with some local contacts and we had multiple options within a month.". Falk, Martin, and Laurent Vanat. Alterra Capital Holdings Ltd : Markel to Acquire Alterra for Approximately $31 Per Share i.. Alterra Capital Holdings Ltd : Alterra Announces an Increase in the Capitalization of New .. Alterra Capital Holdings Ltd : Alterra to Partner with Ullico Casualty Group for US Profes.. Alterra Capital Holdings Ltd : Alterra Capital Reports Third Quarter 2012 Results. Carolyn earned her BA in Psychology and Sociology from the University of Michigan and has a Paralegal Certificate. 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 Upon moving to PA, she began working at Liberty Property Trust as a Paralegal, transitioning to Director of Due Diligence after 11 years. VP - Industrial TransactionsCarolyn Barr WebAlterra Property Group Real Estate Investment, Development and Management Who We Are Alterra Property Group, LLC (Alterra) is an established real estate investment, Associate - Acquisitions & Asset ManagementGavin Weaver 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. By December 2019, Alterra had formed a $300M joint venture backed by JPMorgan Chase to acquire IOS properties. Deputy General CounselJim Freeman, Esq.Jim Freeman serves as Deputy General Counsel of Alterra Property Group, LLC. This included leasing, disposing of, and acquiring millions of square feet of real estate projects from inception to completion as well as developing strategic planning within their real estate, finance, and executive levels. VP - IndustrialMark GannonMark focuses on sourcing, underwriting and acquisition due diligence for Alterras Industrial Outdoor Storage platform. Alterra is vertically integrated and controls the entire value creation process from acquisition to disposition, with expertise in structuring complex transactions and in-house project design, construction oversight, leasing and management. 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. Chelsea holds her Bachelors of Business Administration in Marketing from the University of Pittsburgh. 7 2022. alterra property group stockhtml5 interactive animation. Rory is a graduate from Temple University with a Bachelors Degree in Accounting. Rory is from Haverford, PA and currently resides in Philadelphia with his wife. Stratton was a four-season resort, making it a lucrative investment for Intrawest beyond the ski season. Tom currently resides in New Jersey with his wife and three children. SVP- Development & ConstructionMark CartellaMark oversees the execution phase of Alterras real estate development and capital improvement projects including all facets of the project delivery process with a focus on design and construction. Accessed April 17, 2023. www.pitchbook.com. Prior to joining Alterra, Mark worked several years in the Philadelphia Business Unit of Turner Construction Company, the largest construction management company in the world by volume, gaining unparalleled construction management expertise. VP IndustrialMatt McNutt For more information, please visit ParkMadisonPartners.com, Rosalia Scampoli (212) 537-5177, Ext. Associate - Asset ManagementGillian Zhao Accessed April 17, 2023. https://www.perenews.com/fortress-buys-intrawest-for-2-8bn/. Designing and delivering homes that define the district and invigorate the neighbourhoods around them. Matt has an MBA from the Wharton School of the University of Pennsylvania and a B.S. The 2007-2008 Financial Crisis: An Avalanche Smashes 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. We didnt really know what the endgame was at the time, but once we closed on that sale-leaseback portfolio transaction, we knew it wasnt going to be just a single-tenant business," Addimando said. As institutional investors seek more diversification within their real estate portfolios, Alterra has clearly positioned itself as a leader within the IOS space. He lives in the greater Atlanta area with his wife. 2022 Alterra Holdings. Prior to joining Alterra, Chelsea was a Lease Management Analyst within the accounting department at Gopuff, a Philadelphia based startup. Daniel Jarvis, previously CFO of Intrawest, led this new group. Liberty was acquired by Prolog is in February, 2020 for $13B. Holding positions in both Development and Construction, Liam successfully brought to market projects throughout the U.S. and Canada. 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. Jeffs responsibilities at Alterra include managing all aspects of legal, finance, risk-management and operational matters for the company, as well as collaborating with his Partners on the firms investment decisions. Prior to joining Alterra, Matt focused on acquisitions on the East Coast for CenterSquare, a real estate private equity firm located in Philadelphia. Prior joining Alterra, Gillian served as an Asset Management Associate for Rubenstein Partners L.P. focusing on budgeting, financing, performance projections, and cash management for over $3B AUM. Additionally, she is a Notary Public and a licensed Real Estate Salesperson. Use the form below to reset your password. Gavin focuses on acquisition opportunities and asset management functions at Alterra Property Group. 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. Jim Freeman serves as Deputy General Counsel of Alterra Property Group, LLC. The constant shifts, setbacks, and advancements over the last 40 years for Alterra demonstrate the greater resiliency of the ski industry. In his role at StoneMor, Jim oversaw and managed all real estate and commercial matters relating to the acquisition, disposition, ownership, leasing, development and operation of 400+ properties located throughout the United States. info@alterra.com. Intrawest Resorts Holdings, Inc. Investor Relations. The North American average is 1 percent. The company positioned itself as an operator, not just an owner or investor. They often pressure management teams into making quick and decisive business decisions, such as laying off employees or selling core business units. Additionally, Liam is a credentialed LEED AP through the USGBC. 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. After Turner, Mark worked 7 years at one of Philadelphias preeminent professional project management/real estate services company, Aegis Property Group. Associate Transactions & ComplianceLauren OlsonLaurenjoined Alterra Property Group in May 2022 as part of the legal, acquisitions and asset management teams. Last modified January 20, 2010. Tom currently resides in New Jersey with his wife and three children. Alterra Property Group. 920 Yonge Street, Suite 1000 Based on Alterra's continued success in fundraising for IOS and executing multifamily projects in Philly, its best return has come from the investments it made in talent. For example, within the first season of owning Stratton, four high-speed chairlifts were installed, improving the skier experience. Click or Tap Here. A wealth of experience, thought, planning, and process go into every project, resulting in communities that are carefully considered and exceptionally executed, down to the last detail. Creditors threatened to auction off the companys assets to pay the outstanding debt. WebAlterra Property Group contact info: Phone number: (267) 414-4954 Website: www.alterraproperty.com What does Alterra Property Group do? Test Request, Prototype short run, Alterra Holdings has developed multiple Straw formulations that are marine Copyright 2010 2022. Bankruptcy and widespread foreclosures were a real risk for Intrawest. Alterra recently announced a $500 million program for 2023 specifically to enhance guest and employee experiences. KSL is a global private equity firm specializing in travel and leisure businesses, such as Village Urban Resorts and the Outrigger Hotels, with $8.5 billion in assets under management. In 2013, Intrawest filed with the SEC on November 12 to become a publicly-traded company under the ticker SNOW. "When you try to scale in a different asset class nationally, its almost like youre starting over, with different capital providers, different people doing deals.. Ski Development and Strategy. Tourism and Hospitality Planning & Development 4, no. Clydesdale, Greg. VP - IndustrialParker Pearson Parker resides in downtown Chicago with his wife and two children. Accessed April 18, 2023. https://www.aspentimes.com/news/layoffs-cutbacks-hit-vail-resorts/. He was formerly the head of real estate for an international transportation and logistics company. He led all leasing, asset management and development for both the industrial and office portfolio. From evaluation to execution to management, Alterras competent team of industry experts guide the process quickly and efficiently. 416.964.1800 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. The catalyst for Alterra's expansion was when Addimando's friend Frank Bardonaro calledon behalf of his company, Maxim Crane Works. Municipalities arent creating more outdoor storage, but every MSA needs it for its supply chain infrastructure.. JonCordingleyjoined Alterra in 2022 as Director of Development, supporting the companys industrial outdoor storage portfolio with over 14 years of experience. Matt has an MBA from the Wharton School of the University of Pennsylvania and a B.S. Parker received a Bachelors of Arts in Accounting and Entrepreneurship from Miami University in Oxford, OH. VP - IndustrialMark Gannon He is a board member and recent past President of the Building Industry Association (BIA) of Philadelphia, an Advisory Board member for the Port of Philadelphia, and a member of YPO. Alterra Property Group. SEC EDGAR website. Mark most recently served as an Associate Portfolio Manager at Exeter Property Group, helping source and underwrite industrial transactions for Exeters value-add & core investment vehicle. 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. WebMasar Group. Senior Fund AccountantRory OConnorRory joined Alterra in October 2021 as a Senior Fund Accountant working directly with Alterras IOS Fund. He and his Partners are responsible for forming and implementing investment strategies across the company. He has handled $2B of real estate transactions nationwide across a wide range of asset classes, including multi-family, industrial, office, retail and student housing. VP IndustrialMatt McNuttMattfocuses on sourcing, underwriting and acquisition due diligence for Alterras Industrial Outside Storage platform. Plenty of commercial real estate companies operate in multiple asset classes, but few have a portfolio like Alterra Property Group. Intrawests stock traded around $33 per share; however, Pirate Capital publicly stated that they valued the stock at $45 per share and pressured management to undergo a strategic review. Originally from Baltimore, Lacee currently resides in the East Passyunk area of Philadelphia. She currently resides in South Philadelphia with her fianc and their dog. Co-Founder & Managing PartnerLeo AddimandoLeo Addimando is a Managing Partner and Co-Founder of Alterra Property Group, LLC (Alterra). You are subscribed to the Bisnow Philadelphia Newsletter. Alterras IOS platform is comprised of a dedicated team of professionals that provide full service real estate solutions to IOS tenants on a national basis. Martin Lipton, the founding partner of Wachtell, Lipton, Rosen, & Katz, a global law firm specializing in mergers and acquisitions and corporate governance, noted in a Harvard Law School publication that no company should consider itself immune from activism. 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. Parker received a Bachelors of Arts in Accounting and Entrepreneurship from Miami University in Oxford, OH. Matt oversees all investment and asset management activity for Alterra. Total Available Area: Entire site 11.5 acres, Total Available Area: 27,496 SF 6.6 acres, Total Available Area: 23,186 SF 4.75 acres, Total Available Area: 31,000 SF 6.2 acres, Total Available Area: 7,442 SF +/-3.86 acres, Total Available Area: 2,500 SF & 12,00SF Shop 4.9 acres, Total Available Area: Currently under construction, Total Available Area: 7,442 SF of office 19,750 SF shop building +/- 14 acres, Total Available Area: 19,280 SF 5.4 acres, Total Available Area: 37,900 SF 5.45 Acres, Total Available Area: 7.62 acres 177 trailer spaces, 7101 BRYHAWKE CIRCLE NORTH CHARLESTON, SC 29418, Total Available Area: FL 14,901 SF +/-3.87 acres, Total Available Area: 35,000 SF building 15.35 acres, Total Available Area: +/- 10,000 SF 12.3 Acres, Total Available Area: +/- 10,500 SF +/- 5.16 acres, Total Available Area: 2.5 miles to Interstate 40 7 miles to Nashville International Airport, Total Available Area: 37,900 SF 5.45 acres, Total Available Area: 19,500 SF 25 acres 177 trailer spaces, Total Available Area: 10,350 SF building 2.5 acres, Prefer dense infill industrial clusters surrounded by similar IOS users, Senior Advisor - Industrial Outdoor Storage, Associate - Acquisitions & Asset Management. Real estate prices are closely tied to interest rates because investors require mortgages and loans. 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. Liberty was acquired by Prolog is in February, 2020 for $13B. Necessity is the mother of invention," Addimando said. Pirate Capital felt that the underlying real estate assets owned by Intrawest were discounted by two to three times the value they would receive if broken up and sold separately. 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. Lease Administrator Chelsea HolberChelsea joined Alterra in April 2023 as a Lease Administrator within the IOS team. Leah is experienced in implementing innovative systems and creative strategies resulting in established brand identity, enhanced customer engagement, and lead generation. MarketScreener: Created by Investors for Investors! WebThe Alterra IOS team brings an institutional comprehension of the municipal, environmental, and logistical complexities in acquiring, leasing, and occupying mission-critical real Alterra Property Group is a real estate development, investment and management company with more than $2 billion in real estate investments. The Denver, Colo.-based company announced today that it will be focusing its capital improvements on four major U.S. resorts: Deer Valley, Utah; Steamboat, Colo.; and Calif.s Mammoth Mountain and Squaw Valley Alpine Meadows. Alterras investment in the four resorts sits at $207 million, which is no chump change. Alterra is vertically integrated and controls the entire value creation process from acquisition to disposition, with expertise in structuring complex transactions and in-house project design, construction oversight, leasing and management. Those diverse transactions have often entailed complex and sophisticated structures, including historic tax credits and joint ventures with some of the countrys most well-known institutional investors. 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. Previously, Gavin worked at HFF in Philadelphia on the debt and equity placement team. Modelling the Wider Effects of Ski Lift Investments. Empirical Economics (February 27, 2019): 259274. Clausing, Jeri. Blackcomb became a highly profitable asset for Intrawest and announced $112 million in renovations and upgrades the following year. Jim has over 20 years of experience leading acquisitions, dispositions, and development projects in a variety of asset classes, with a focus on industrial and logistics facilities. (657) 247-2600 document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Your email address will not be published. Intrawest found a niche in the Canadian ski market as it was less developed than the U.S. in the 1980s and 90s. The prices, plans, amenities, availability, and improvements shown are subject to change without notice. in Finance from Georgetown University. Intrawest Resorts Holdings, Inc. to Be Acquired by Affiliates of Aspen Skiing Company and KSL Capital Partners. Business Wire. Prior joining Alterra, Gillian served as an Asset Management Associate for Rubenstein Partners L.P. focusing on budgeting, financing, performance projections, and cash management for over $3B AUM. 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. Lauren earned her bachelors degree from Arcadia University and currently resides in Philadelphia. It has been sent. Over 17+ years as a real estate entrepreneur, Leo has gained experience with a diverse range of real estate product types, acquired industrial properties in 30+ US States, closed over $2.5B of real estate transactions, acquired or developed over 3,500 residential units, structured dozens of complex transactions, and overseen all aspects of numerous residential, commercial, industrial, and mixed-use real estate development projects.
St Andrew Parish Bulletin,
Astho Executive Director,
Whitechapel Studio 23 Hessel Street,
Articles A