Movers and Shakers Week of 04.30.18
JLL Expands Western Multifamily Presence
Multifamily assets continue to be a target for investors, ending 2017 with nearly $140 billion in transaction volume in the U.S. alone. To keep pace with demand, JLL recently announced the expansion of its leading multifamily platform with the addition of 15 professionals across Denver, Phoenix and Seattle.
“JLL is committed to an integrated capital markets business to serve the commercial real estate industry. For our multifamily offerings that means global capital access, local market knowledge and capital markets expertise to deliver solutions – whether buying, selling or financing a multifamily asset,” said JLL International Director David Williams. “In 2017, JLL completed more than 600 assignments and $18.7 billion of debt, equity and sales transactions in the U.S. The addition of these talented individuals to our platform in the West further support our commitment to a strong, connected presence in the marketplace,” he added.
Expanding JLL’s multifamily presence in Denver are David Martin, Pamela Koster and Mike Grippi. They join from Moran & Company along with three additional team members. Together, they have more than 50 years of experience and nearly $8 billion in multifamily debt and sales transactions.
“Denver’s strong job growth continues to outpace its robust population growth, which is fueled by the net-migration of an educated workforce. Each of these factors contribute towards the demand for, and the value of, multifamily product. The addition of this highly talented team of professionals to our already strong multifamily platform speaks to JLL’s dedication to serving our clients with the very best strategic advice and execution, and growing our market share as a result,” said Paul Washington, JLL market director, Rocky Mountain Region.
Martin earned a degree in finance from Texas A&M University and holds a Graduate Certificate in finance from Southern Methodist University. He is a member of the Urban Land Institute (ULI) and the National Multifamily Housing Council. Koster holds a bachelor’s degree from Loyola University of Chicago and a Master’s of Business Administration from Loyola Marymount University. She is a member of ULI and CREW Denver. Grippi holds a Bachelor of Science in economics from the University of Oregon.
CBRE Welcomes Craig Branton as a First Vice President with CBRE Capital Markets in Denver
Craig Branton has joined CBRE Capital Markets’ Debt & Structured Finance as a first vice president in Denver. In this role, Mr. Branton will specialize in the Freddie Mac Small Balance Loan (SBL) program, providing financing solutions for private capital commercial real estate investors and owners.
“With the addition of Craig, we now have a knowledgeable and experienced Colorado-based professional dedicated to the Freddie Mac SBL program, furthering our commitment to our CBRE clients to be able to meet every need across the entire commercial real estate spectrum,” said Katie Benefield, sales manager for CBRE’s Colorado region.
The Freddie Mac SBL program focuses on providing financing for multifamily properties—whether fully multifamily or mixed use—including affordable and workforce rental housing. The program targets properties in the $1 to $7.5 million range. Freddie Mac Multifamily named CBRE the top Small Balance Loan seller in 2017, with a record $1.27 billion in SBL mortgages sold to the agency.
“Since CBRE is the only firm that combines a direct Freddie Mac license with the infrastructure of a full-service real estate company, we have the opportunity to offer private capital investors doing business in Colorado a one-stop solution for their commercial real estate investments,” said Mr. Branton. “When you take into account the abundance of multifamily properties in Denver coupled with low vacancy rates and strong population growth, it’s no surprise we are considered a top market for Freddie Mac.”
In addition to his work in the multifamily sector, Mr. Branton’s past experience spans industrial, retail, office, self-storage and parking facilities. Prior to joining CBRE, Mr. Branton was a principal with Terrix Financial in Denver where he was consistently a top producer at the firm. He has directly originated and closed more than $380 million in loans over the course of his career.
Mr. Branton received a Master’s degree in Real Estate and Construction Management from the University of Denver Daniels College of Business. He completed his undergraduate studies at Arizona State University. He will be based in CBRE’s downtown Denver office.
Powers Brown Architecture Promotes Lauren Amber Prestenbach to Principal in Denver Office
Powers Brown Architecture, an international professional services firm practicing architecture, interior design, programming and urban design, has promoted registered interior designer Lauren Amber Prestenbach, NCIDQ, LEED AP ID+C, EDAC, IIDA, to principal in the firm’s Denver office. She previously served as director of Interiors of the firm’s Denver office.
“Lauren Amber has an absolutely unique set of skills which stem from her experience on the Vendor/Client side and her background as an Interior Designer that we are very fortunate to be able to bring to our client base. Her award-winning design talent is balanced by her professional leadership as an advocate of professional registration for her discipline. Her innate talent, businesslike approach and professional leadership add up to a client-centric working style ensuring the client gets the benefit of having her on their projects. We feel lucky to get the benefit of having her as a partner,” said Jeffrey Brown, FAIA, founding principal and CEO.
Her most recent Powers Brown Architecture projects include interior design work for Travelers Insurance, Market Center renovation, Highlands Place II renovation, Face It Together, Enterprise Holdings, The Buell Foundation and Frontier Fire.
A LEED and Evidence-Based Design Accreditation and Certification (EDAC) accredited professional, Lauren Amber serves as vice president/advocacy director of the International Interior Design Association (IIDA) – Rocky Mountain Chapter where she advocates to help pass legislation for interior design professionals to become legally recognized and licensed in Colorado and thus ensure their design qualifications and education. She also is affiliated with National Association of Industrial Office Properties (NAIOP), Commercial Real Estate Executive Women – Denver Chapter (CREW) Co- Chair, Programs Committee, American Society of Interior Designers (ASID) and the National Council for Interior Design Certification. A graduate of the Art Institute Houston, Lauren Amber supports community philanthropic projects such as the Family Promise of Greater Denver.
JHL Constructors Names Mike Plungis as the New Chief Financial Officer
JHL Constructors, Inc. welcomes Mike Plungis to the team as its chief financial officer as of March 2018. Plungis holds a Masters Degree in Accounting from Colorado State University and a Bachelors Degree in Accounting from Eastern Michigan University. He has spent the majority of his career in construction and real estate development and enjoys the constant challenges associated with the industry. AS CFO, Mike will oversee the finance, IT, human resources and business administration departments of JHL and will assist with overall strategic planning by developing financial models and implementing key initiatives that support the long-term sustainable advancement of JHL.
Ben Stellor, JHL’s President and CEO, said “Mike’s depth of experience and industry knowledge has already made him an invaluable asset to the JHL family. We feel very fortunate to have someone of Mike’s caliber to fulfill this critical leadership role and believe he’s an excellent fit with our company culture.”