alterra property group stock

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. Alterra Property Group developed one of the largest multifamily buildings in the U.S. in West Philly, selling it for $88M earlier this year. Last modified May 4, 2006. Travel Weekly, January 21, 2008. 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. 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. 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. 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. Alterra Mountain Company. in Economics and Political Science from the University of Michigan, Ann Arbor. Parker resides in downtown Chicago with his wife and two children. 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. SVP- Development & ConstructionMark Cartella 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. This community is located in the southern section of Chino Hills, off the Soquel Canyon Road exit of the 71 Freeway. Every homeowner becomes a member of the Alterra family, a legacy going on 50 years. The 2007-2008 Financial Crisis: An Avalanche Smashes the Ski Industry. 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. The catalyst for Alterra's expansion was when Addimando's friend Frank Bardonaro calledon behalf of his company, Maxim Crane Works. By 2013, the economy was rebounding from the Great Financial Crisis suggesting that the valuation drop was specific to Intrawest. and striving to provide real estate solutions to tenants. In addition, he is responsible for raising and structuring equity and debt for Alterras ongoing business initiatives. With the looming collapse, Intrawest entered into a restructuring plan on April 28, 2010 to refinance $1.2 billion of loans. 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. Company News; Intrawest Acquires Sandestin Resorts For $130 Million. The New York Times, July 15, 1998. Prior to joining Alterra, Lauren worked at StoneMor, Inc., which she joined in 2017. in Finance from Villanova University, and a law degree from the Villanova School of Law. Copyright 2023 Bisnow. 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 Mark 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. 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. 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. Mattfocuses on sourcing, underwriting and acquisition due diligence for Alterras Industrial Outside Storage platform. Before working at Orbitz, Leo worked as an Associate for the Boston Consulting Group. Your email address will not be published. Sources told the New York Post that creditors holding $1.4 billion of debt on Whistler Blackcomb were within 10 days of entering foreclosure. 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. in Finance from Georgetown University. 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. Designed by Juggernaut Work. Venture II was oversubscribed, closing $524MM of total commitments, exceeding the original fundraising goal of $400MM. Matt played an integral part in the formation of Alterras Industrial Outdoor Storage platform and oversees the day-to-day acquisitions and asset management initiatives of that platform. 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. Mark has a Bachelors degree from the University of Pennsylvania and currently resides outside of Philadelphia with his wife and son. He holds a B.S. ALTERRA CAPITAL HOLDINGS LTD : Stock Price Greg Hicks is a Vice President, Facilities & Maintenance at Alterra Property Group based in Philadelphia, Pennsylvania. These new transfer points will increase the reach of Carolyns legal/real estate career began at law firms in Kalamazoo, MI (Legal Secretary) and then Atlanta, GA (Paralegal). "Yeah, but its five hours that I shouldnt have been spending there to begin with.. 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. Accessed April 17, 2023. https://corpgov.law.harvard.edu/2022/09/02/dealing-with-activist-hedge-funds-and-other-activist-investors-5/. Designed by Juggernaut Work. After Turner, Mark worked 7 years at one of Philadelphias preeminent professional project management/real estate services company, Aegis Property Group. See reviews, salaries & interviews from Alterra Home Loans employees in Chino, CA. 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. Electrical and Electronics, Industrial IOS AnalystSean Christman Accessed April 17, 2023. www.pitchbook.com. jane@alterraproperty.com). Holding positions in both Development and Construction, Liam successfully brought to market projects throughout the U.S. and Canada. Daniel Jarvis, previously CFO of Intrawest, led this new group. Matt has an MBA from the Wharton School of the University of Pennsylvania and a B.S. Contact. 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. Alterra IOS Home - Alterra IOS His clients include Tesla, Rolls-Royce, Chevron, and ExxonMobil Global Real Estate, among others. 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. Previously, Greg was a Sup ervisor, Maintenance at American Management and also held positions at WinnCompanies, Village Green Companies. The team comprises professionals from diverse backgrounds on the buy-side and sell-side and leverages this experience to offer Park Madisons clients highly customized solutions across global real estate capital markets. By mid-March, thefund had closed after raising $524M, wellabove its goal of $400M. Chelsea holds her Bachelors of Business Administration in Marketing from the University of Pittsburgh. 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. Parker spent his time working on optimizing terminal locations across the country. Designed by Juggernaut Work. Through the purchase of Intrawest, KSL and Aspen Skiing Company now owned 12 mountains across the U.S. and Canada, including Palisades Tahoe, Deer Valley, and Mammoth Mountain. agnes hill asheville school; lake buckhorn georgia rules; escambia county school registration; andrew davidson saskatoon; laura leigh we re the millers; Close Menu. Alterra Property Group Deputy General CounselJim Freeman, Esq. She is responsible for managing the overall marketing strategy for the residential portfolio to include digital marketing/ advertising, social media, and product launch. He also holds a LEED AP designation under the USGBC. 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. in Finance from Georgetown University. 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. Jeff received an MBA and a B.A. 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. Because of the turbulent global economy, Intrawest faced significant financial distress. WebFree access to listings of Alterra Homes. 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. Intrawest Resort Holdings, Inc. Form S-1 2016. 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. 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 need you to know that security is our top priority and that we hold any information we have about you under lock and key. Matt and his wife have two children and reside outside of Philadelphia. Carolyns legal/real estate career began at law firms in Kalamazoo, MI (Legal Secretary) and then Atlanta, GA (Paralegal). He lives in the greater Atlanta area with his wife. Alterra Liam works as Senior Development Manager focusing on Mixed Use and Industrial projects. The IOS market is a $200BN market that is highly fragmented with limited institutional ownership. Alterra Capital Holdings Ltd : Alterra Capital to Release Fourth Quarter 2012 WebMasar Group. Alterra Property Group He has also held several senior positions with Philadelphia based development groups, including Shift Capital, a mission based Social Impact Fund. Alterra Property Group is a real estate development, investment and management company with more than $2 billion in real estate investments. Alterra focuses on acquiring low density, supply chain and infrastructure real estate in core infill locations. Gillian 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. 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. Alterras real estate platform is strategically focused on our two core competencies ofresidential/mixed-usedevelopment (APG Living), andindustrial outdoor storage (IOS). 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.) 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 fund was heavily oversubscribed, closing at $524 million of total commitments, versus the original fundraising goal of $400 million. Bloomberg News. Dealing with Activist Hedge Funds and Other Activist Investors. Web log. Last modified January 11, 2018. Venture II is a continuation of Alterras Industrial Outside Storage (IOS) investment strategy launched in 2016. Launching our first fully discretionary fund further adds to our competitive advantage on certainty of execution and national scale that are central to our long-term investment strategy, said Matthew Pfeiffer, Managing Partner/CIO of Alterra. Most recently Carolyn worked at Capano Management Company as a Paralegal and Lease Negotiator. 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. 7 2022. alterra property group stockhtml5 interactive animation. 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. 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. 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. On March 21, 1990, Intrawest filed with the Toronto Stock Exchange to trade under the ticker ITW. Additionally, Liam is a credentialed LEED AP through the USGBC. We need you to be ok with our use of information like your general location or reading habits to personalize your experience, so we can suggest the right stories to read or events for you to attend. Previously, she worked in leasing and property management at PMC Property Group. At this time, Fortress had owned Intrawest for seven long years. Greg Hicks's Phone Number and Email Gavin graduated from the University of Delaware where he majored in Finance and currently lives in Center City Philadelphia. 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. Blackcomb became a highly profitable asset for Intrawest and announced $112 million in renovations and upgrades the following year. Prior to joining Alterra, Matt focused on acquisitions on the East Coast for CenterSquare, a real estate private equity firm located in Philadelphia. Over $5 billion in real estate transactions. She is a licensed Certified Public Accountant for the State of Pennsylvania and a member of the AICPA and PICPA. Bankruptcy and widespread foreclosures were a real risk for Intrawest. Above all else, the emphasis on the skier, employee, and community experiences continues to shape the brand. Alterra Property Group. In 1996, they purchased 31% of Mammoth Mountain in California. November 12, 2013. An activist hedge fund looks to take an active position in their investment by working closely with management to extract value. Alterra views property management as a core division in our company. 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. Alterra Fortress is a private equity firm that invests in businesses with strong asset bases and cash flows, such as real estate. This positive influence will continue as private equitys role in the industry grows. Intrawest found a niche in the Canadian ski market as it was less developed than the U.S. in the 1980s and 90s. WebThe Alterra IOS team brings an institutional comprehension of the municipal, environmental, and logistical complexities in acquiring, leasing, and occupying mission-critical real Modelling the Wider Effects of Ski Lift Investments. Empirical Economics (February 27, 2019): 259274. Jim graduated with a BS from Penn State University and a JD from Washington & Lee School of Law. She is responsible for managing the overall marketing strategy for the residential portfolio to include digital marketing/ advertising, social media, and product launch. 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. 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. Intrawest Foreclosure a Threat to Olympics. New York Post. 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. Alterra Property Group, LLC (Alterra) is an institutional real estate investment, development and management company focusing on industrial outdoor storage and multi-family/mixed-use developments. 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. Most recently,Jonwas a project management Lead at Rivian Automotive, where he supported the development of Rivians $5B East Atlanta campus. ControllerLacee Daniel, CPALacee joined Alterra in September 2018 as a senior accountant working directly with Alterras investment partners. Mattcurrently resides in La Jolla, CA with his wife, daughter and son. WebCompany profile page for Alterra Mountain Co including stock price, company news, press releases, executives, board members, and contact information Liberty was acquired by Prolog is in February, 2020 for $13B. Co-Founding Partner & General CounselJeff PustizziJeff is a Partner, General Counsel and Co-Founder of Alterra Property Group. Accessibility Statement. Moving to the Mountain: Aspens Dominance in Public Transportation. 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. 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. Most recently Carolyn worked at Capano Management Company as a Paralegal and Lease Negotiator. Number. Intrawest Company Profile, 2023. Today, Addimando admits he knew little about Boston as a real estate market and even less about a little-known niche of industrial property. From evaluation to execution to management, Alterras competent team of industry experts guide the process quickly and efficiently. Alterra Property Group 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. Parker has 12 years of experience in the real estate industry leading strategic business development across several asset classes. "Once you learn that you are dealing with people that always find a way to get it done and do it the right way, I think you can rely on them to expand into more regions or areas of expertise," Bardonaro said. Pirates, Private Equity, and Plows: The 40-Year Journey Leah is a graduate of Temple University with a Bachelors degree in Communications. Tom currently resides in New Jersey with his wife and three children. There was an error trying to send your message. Dimri, Neha. Last modified January 20, 2010. All Rights Reserved. In the IOS space, we believe there is no substitute for experience, and our teams track record speaks for itself with more than 150 successful transactions, across 30+ states, and counting. Last modified April 10, 2017. 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. Previously, she worked in leasing and property management at PMC Property Group. 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. Matt played an integral part in the formation of Alterras Industrial Outdoor Storage platform and oversees the day-to-day acquisitions and asset management initiatives of that platform.

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