The Denver Post. By mid-March, thefund had closed after raising $524M, wellabove its goal of $400M. Upon moving to PA, she began working at Liberty Property Trust as a Paralegal, transitioning to Director of Due Diligence after 11 years. Liam works as Senior Development Manager focusing on Mixed Use and Industrial projects. The constant shifts, setbacks, and advancements over the last 40 years for Alterra demonstrate the greater resiliency of the ski industry. He began his career in real estate at Blackstone (2007-2012). 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. Thomas Marano, a real estate investor, succeeded Jensen. From the onset, the new investors prioritized the customers, employees, and surrounding communities of Intrawests portfolio. Eventually, Intrawest expanded into the U.S. in 1994 by acquiring Stratton Mountain in Vermont. Intrawest Resort Holdings, Inc. Intrawest Sets Its Sites on Global Leisure and Travel Market; Crosses $1.5 Billion Revenue Milestone. Hotel Online, October 20, 2004. He holds a B.S. Prior to joining Alterra, Gavin was an Associate at Rubenstein Partners since 2019, where he worked on office acquisitions for the companys equity portfolios as well as loan originations for the companys mortgage fund. Am I spending five fewer hours a week than I used to on the minutiae of multifamily?" 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. He has been on the Board of Citizen Financial Group from 2006 and on the Audit and Compensation and Human Resources Committees. Enter your email below. The rendering above shows Alterra Property Group and JRKP Architects' proposed six-story project at 4200 Market Street in West Philadelphia. Prior to joining Alterra, Lauren worked at StoneMor, Inc., which she joined in 2017. 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. Following the transaction announcement, Intrawests CEO Thomas Marano commented, Our new partners bring additional financial resources and a shared passion for the mountains and our communities. KSLs CEO Eric Resnick added: Each resort has its own unique story and its own unique sense of place. Our news is free and we intend to keep it that way. He received a Bachelor of Arts degree in economics from Brown University. He lives in the greater Atlanta area with his wife. Currently, Gillian lives in Philadelphia with her fianc-to-be and two lovely cats. Before Rubenstein, Gillian worked as an Acquisitions and Asset Management Analyst at Brandywine Realty Trust, where she helped underwrite and do Due Diligence for transactions on offices. Most recently,Jonwas a project management Lead at Rivian Automotive, where he supported the development of Rivians $5B East Atlanta campus. Intrawest Resorts Holdings, Inc. Investor Relations. Park Madison Partners served as the exclusive placement agent. He also holds a LEED AP designation under the USGBC. He began his career in real estate at Blackstone (2007-2012). Alterra Property Group, LLC (Alterra) is an established real estate investment, development, and management company based in Philadelphia, PA. in Economics and Political Science from the University of Michigan, Ann Arbor. JonCordingleyjoined Alterra in 2022 as Director of Development, supporting the companys industrial outdoor storage portfolio with over 14 years of experience. 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. It has been sent. She also has a masters degree from the University of Pennsylvania. Parker spent his time working on optimizing terminal locations across the country. IOS AnalystSean ChristmanSean focuses on acquisition opportunities and asset management functions at Alterra Property Group. 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. Accessed April 17, 2023. https://www.sec.gov/Archives/edgar/data/1587755/000156761913000131/s000092x2_s1.htm, Intrawest Resort Holdings, Inc. Form 10-K/A 2016. and striving to provide real estate solutions to tenants. 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. William P. Hankowsky was Chairman, President, and Chief Executive Officer of Liberty Property Trust, until February, 2020. Rory is a graduate from Temple University with a Bachelors Degree in Accounting. Without the same rent growth up here, that equation is very challenged.. The catalyst for Alterra's expansion was when Addimando's friend Frank Bardonaro calledon behalf of his company, Maxim Crane Works. Intrawest Announces Restructuring of Debt. Summit Daily. 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. Associate Transactions & ComplianceLauren Olson Rory is a graduate from Temple University with a Bachelors Degree in Accounting. 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. Granito, Alison. Additionally, she is a Notary Public and a licensed Real Estate Salesperson. By 2013, the economy was rebounding from the Great Financial Crisis suggesting that the valuation drop was specific to Intrawest. Accessed April 18, 2023. https://www.summitdaily.com/news/business/intrawest-announces-restructuring-of-debt/. Stratton was a four-season resort, making it a lucrative investment for Intrawest beyond the ski season. Gavin graduated from the University of Delaware where he majored in Finance and currently lives in Center City Philadelphia. 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. in Finance from Georgetown University. ET:A previous version of this article misstated the nature of its first deal with Maxim, what year Alterra acquired Maxim's portfolio of industrial outdoor storage properties and the total value of its most recent fund. Web100+ properties across 30 states $1B+ in transaction volume Learn more Mixed Use Development Since 2005 Alterra has acquired and managed dozens of mixed use and Fortress is a private equity firm that invests in businesses with strong asset bases and cash flows, such as real estate. Co-Founder & Managing PartnerLeo AddimandoLeo Addimando is a Managing Partner and Co-Founder of Alterra Property Group, LLC (Alterra). jane.doe@alterraproperty.com), which is being used by 60.6% of Alterra Property Group LLC work email addresses. Previously, she worked in leasing and property management at PMC Property Group. We understand that we have a responsibility. 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. CORRECTION, APRIL 14, 10:15 A.M. Matt and his wife have two children and reside outside of Philadelphia. VP - Asset ManagementJeff SchaefferJeff oversees all asset management functions for Alterra Property Group. Ski Smarter, Not Harder: The Great Debate of Digital vs In-Person Ski Coaching, La Grave: How the Gravesite of Skiers Has Become the Champion of Extreme Snowsports Since the 80s, Liberating Women and Their Legs: Female Ski Fashions Shift to Pants in the Early 20th Century, Pirates, Private Equity, and Plows: The 40-Year Journey of Alterra Mountain Company, Instructing Kids to Ski: The Psychology, Training, and Curriculum behind Every Lesson, Behind the Vail: The Effect of Corporatization on New Skiers, Get Again to Get the job done Every person Outdoor Outing, White as Snow: An Examination of Race within Skiing. Reporters for Travel Weekly noted that this hire demonstrated a pivot for Intrawest from a real estate development company to a ski resort operator. Creating award-winning
By December 2019, Alterra had formed a $300M joint venture backed by JPMorgan Chase to acquire IOS properties. When they arent working, they enjoy traveling, snow and water sports, and backyard barbecues. Lacee holds a Masters in Accounting from the University of Maryland-College Park and an undergraduate degree in accounting from the College of Charleston. Mark is a graduate of Drexel University and holds a BS in Architectural Engineering, Mechanical Concentration, as well as a dual minor in Mechanical Engineering and Construction Management. 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 Mr. Hankowsky currently serves on the boards of Citizens Financial Group Inc. (NYSE: CFG), the Greater Philadelphia Chamber of Commerce, Delaware River Waterfront Corporation, Philadelphia Convention and Visitors Bureau, Philadelphia Shipyard Development Corporation, Pennsylvania Academy of Fine Arts. Daniel Jarvis, previously CFO of Intrawest, led this new group. 2013. She remained at Liberty until February 2020 when it was acquired by Prologis. Liam lives in Philadelphia with his Wife and two Mutts. Leo has an MBA from the Harvard Business School (HBS) and a B.A. 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 oversees all investment and asset management activity for Alterra. Tom currently resides in New Jersey with his wife and three children. Previous to his career in real estate, Leo was an early employee of Orbitz.com, helping the company to develop ancillary revenue streams, the profitability of which contributed to the companys successful IPO in 2003. Alterras real estate platform is strategically focused on our two core competencies ofresidential/mixed-usedevelopment (APG Living), andindustrial outdoor storage (IOS). This is not a step Jonhas completed projects working in a range of environments including industrial, manufacturing, hospital, lab expansions and corporate occupier. WebCompany profile page for Alterra Mountain Co including stock price, company news, press releases, executives, board members, and contact information She is responsible for managing the overall marketing strategy for the residential portfolio to include digital marketing/ advertising, social media, and product launch. Mark is a graduate of Drexel University and holds a BS in Architectural Engineering, Mechanical Concentration, as well as a dual minor in Mechanical Engineering and Construction Management. 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. Matt has an MBA from the Wharton School of the University of Pennsylvania and a B.S. Leah is experienced in implementing innovative systems and creative strategies resulting in established brand identity, enhanced customer engagement, and lead generation. SVP- IndustrialCharlie Totten Jeff is a Pennsylvania licensed Real Estate Broker. Previous to his career in real estate, Leo was an early employee of Orbitz.com, helping the company to develop ancillary revenue streams, the profitability of which contributed to the companys successful IPO in 2003. 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. Accessed April 17, 2023. www.pitchbook.com. End-of-day quote Nasdaq January 20, 2010. 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. WebThe Alterra IOS team brings an institutional comprehension of the municipal, environmental, and logistical complexities in acquiring, leasing, and occupying mission-critical real PR. 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. 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. Six years later, it hasanational, institutionally backed portfolio of IOS properties, but is still a Philly-focused multifamily developer. VP - IndustrialParker Pearson Roy, Priya A. Bankruptcy and widespread foreclosures were a real risk for Intrawest. 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). Parker has 12 years of experience in the real estate industry leading strategic business development across several asset classes. Accessed April 16, 2023. https://scholar.uwindsor.ca/humankineticspub/40. Laurenjoined Alterra Property Group in May 2022 as part of the legal, acquisitions and asset management teams. Please try again later. 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. Accessed April 17, 2023. https://www.perenews.com/fortress-buys-intrawest-for-2-8bn/. More on the banning of snowboarding, on one chair ski lifts, and limited use of artificial snow. 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. Intrawest fit all the qualifications from the team at Harvard Law; they were large with over 24,000 employees and successful after booking $1.7 billion in revenue for 2005. 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. In March, Alterrasold a 250K SF building in West Philly, one of the largest modular apartment projects in the country, for $88M. I know where to be pushing rentsand where concessions are needed" across Alterra's properties, he said. 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. Copyright 2010 2022. Upon moving to PA, she began working at Liberty Property Trust as a Paralegal, transitioning to Director of Due Diligence after 11 years. Ski Development and Strategy. Tourism and Hospitality Planning & Development 4, no. ABOUT ALTERRA PROPERTY GROUP Alterra Property Group, LLC (Alterra) is an established real estate investment, development, and management company based in Philadelphia, PA. Because of this, private equity plays an immensely important role in ensuring that ski companies have consistent and healthy access to the capital markets, preventing any disruptions to the ski season. He led all leasing, asset management and development for both the industrial and office portfolio. 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. Last July, Philly YIMBY shared the plans for a mixed-use development at 1100 Wharton Street in Passyunk Square, South Philadelphia.Designed by JKRP Architects and developed by the Alterra Property Group, the complex is anchored with a new six-story, 162,335-square-foot building with a 20,000-squarte-foot supermarket at the ground 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. Intrawest Company Profile, 2023. Leo Addimando is a Managing Partner and Co-Founder of Alterra Property Group, LLC (Alterra). All Rights Reserved. In developingand managing properties hyperlocally like were doing in Philadelphia and Greater, Also subscribe to Bisnow's Industrial Newsletter, Weekend Interview: Keystone Development + Investment's Rich Gottlieb On Improving Offices While Relying Less On Them, Spark Therapeutics Signs 63K SF Lease At King Of Prussia's Discovery Labs, Center City Report: Phillys Dual Business Taxes Are Making Its Downtown Office Drain Worse, Judge Overturns Zoning Permit For Already-Open Center City Dining, Gambling Venue, national, institutionally backed portfolio. We are committed to honoring the deep traditions of each resort. Unlike Fortress in 2007, KSL and Aspen Skiing Company both have expertise in growing and sustaining the unique story of ski resorts. Last modified December 5, 2008. Activist hedge funds patrol inefficient, undervalued, and mismanaged public companies. The company is comprised of a highly qualified team of professionals that handle all VP - IndustrialParker PearsonParker focuses on sourcing, underwriting and acquisition due diligence for Alterras Industrial Outdoor Storage platform. Jonhas completed projects working in a range of environments including industrial, manufacturing, hospital, lab expansions and corporate occupier. info@alterra.com. 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. Intrawest Foreclosure a Threat to Olympics. New York Post. 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.
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