Mad River Glen: Are they actually Mad? "In the Southeast and the Southwest, theres such population growth that rents are skyrocketing, so they pay what they need to pay in order to get new things built. She also has a masters degree from the University of Pennsylvania. Leah is experienced in implementing innovative systems and creative strategies resulting in established brand identity, enhanced customer engagement, and lead generation. Clausing, Jeri. Travel Weekly, January 21, 2008. 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. 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. In addition, he is responsible for raising and structuring equity and debt for Alterras ongoing business initiatives. This master planned Test Request, Prototype short run, Alterra Holdings has developed multiple Straw formulations that are marine -, 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. Rory joined Alterra in October 2021 as a Senior Fund Accountant working directly with Alterras IOS Fund. Leo has an MBA from the Harvard Business School (HBS) and a B.A. On March 21, 1990, Intrawest filed with the Toronto Stock Exchange to trade under the ticker ITW. 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. Today, Addimando admits he knew little about Boston as a real estate market and even less about a little-known niche of industrial property. Prior to joining Alterra, Chelsea was a Lease Management Analyst within the accounting department at Gopuff, a Philadelphia based startup. In 1996, they purchased 31% of Mammoth Mountain in California. Director of MarketingLeah McVay It was not for another decade that the firm became interested in the ski industry. Senior Advisor - Industrial Outdoor StorageWilliam P. Hankowsky Liam is a graduate of Stony Brook University with a BS in Economics. Modelling the Wider Effects of Ski Lift Investments. Empirical Economics (February 27, 2019): 259274. Company News; Intrawest Acquires Sandestin Resorts For $130 Million. The New York Times, July 15, 1998. She is a licensed Certified Public Accountant for the State of Pennsylvania and a member of the AICPA and PICPA. 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. We are grateful for the opportunity to work with Alterra on this capital raise, said Park Madison Partners Rob Kohn. For more information, please visit AlterraProperty.com. He was formerly the head of real estate for an international transportation and logistics company. Mattcurrently resides in La Jolla, CA with his wife, daughter and son. Director - IOS ConstructionLiam SullivanLiam works as Senior Development Manager focusing on Mixed Use and Industrial projects. She is responsible for managing the overall marketing strategy for the residential portfolio to include digital marketing/ advertising, social media, and product launch. 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. Sean graduated from Boston University where he majored in Finance and was a member of the mens lacrosse team. 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. Greg Hicks is a Vice President, Facilities & Maintenance at Alterra Property Group based in Philadelphia, Pennsylvania. Akesson, Alex. Use the form below to reset your password. 7 2022. alterra property group stockhtml5 interactive animation. Alterra focuses on acquiring low density, supply chain and infrastructure real estate in core infill locations. Alterra Property Group, LLC (Alterra) is an established real estate investment, development, and management company based in Philadelphia, PA. 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. Later, in 2004, Intrawest reorganized its mountain and warm-weather resorts into a new corporate division called the Leisure and Travel Group. 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. Intrawest and other investors found the ski industry especially attractive because of the underlying value and stability from real estate, while resorts also generated revenues from lift passes, dining, and on-mountain experiences. Alterra currently manages 2000+ upscale residential apartments under our residential management division APG Living. Jensen Hire Means a Sharper Focus on Hotel Ski Business for Intrawest. Travel Weekly. With smaller transactions that average between $5-20MM 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. towards a paywall. Accessed April 26, 2023. https://www.reuters.com/article/us-intrawestresorts-ipo-idUSBREA0U1EM20140131. 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. Lease Administrator Chelsea HolberChelsea joined Alterra in April 2023 as a Lease Administrator within the IOS team. Dealing with Activist Hedge Funds and Other Activist Investors. Web log. Alterras real estate platform is strategically focused on our two core competencies of residential/mixed-use development ( APG Living ), and industrial outdoor storage ( IOS ). 2, (Spring 2015): 5970. WebMasar Group. 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. 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. Lauren earned her bachelors degree from Arcadia University and currently resides in Philadelphia. Jeff resides in Pennsylvania with his wife and two children, and when not working or spending time with his family, enjoys golf, spending time at the shore and being a Philadelphia sports fan (most of the time). JonCordingleyjoined Alterra in 2022 as Director of Development, supporting the companys industrial outdoor storage portfolio with over 14 years of experience. Leah is a graduate of Temple University with a Bachelors degree in Communications. 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. He led all leasing, asset management and development for both the industrial and office portfolio. All Rights Reserved. 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. in Economics and Political Science from the University of Michigan, Ann Arbor. VP - Industrial TransactionsCarolyn Barr DIRECTOR - IOS DEVELOPMENTJon Cordingley Venture II is a continuation of Alterras Industrial Outside Storage (IOS) investment strategy launched in 2016. With smaller transactions that average between $5-20MM and are below the radar of most institutional investors, Alterra is able to curate high quality national portfolios of IOS real estate. He holds a B.S. WebThe Alterra IOS team brings an institutional comprehension of the municipal, environmental, and logistical complexities in acquiring, leasing, and occupying mission-critical real Liam is a graduate of Stony Brook University with a BS in Economics. Number. 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. Upcoming regulations in the European Union require us to show this pop-up and ask you to agree to keep using Bisnow.com. 416.964.1800 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. 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. Addimando said. 700+ years Co-owner and developer, bringing Canada's first Ace Hotel to the city. 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. Municipalities arent creating more outdoor storage, but every MSA needs it for its supply chain infrastructure.. Matt has been involved with over $1 billion of transactions during his time at Alterra. Late last year, Alterra launched its first discretionary fund in partnership with New York-based Park Madison Partners. info@alterra.com. Lauren earned her bachelors degree from Arcadia University and currently resides in Philadelphia. Jim graduated with a BS from Penn State University and a JD from Washington & Lee School of Law. VP - Industrial TransactionsCarolyn BarrJoining Alterra in February 2021 as part of the legal, acquisitions and asset management teams, Carolyn handles the management of due diligence related to acquisitions and financing for Alterras Industrial Outdoor Storage sites. Associate - Asset ManagementGillian Zhao Leah McVay joined Alterra Property Group in September of 2017. Intrawest found a niche in the Canadian ski market as it was less developed than the U.S. in the 1980s and 90s. Reporters for Travel Weekly noted that this hire demonstrated a pivot for Intrawest from a real estate development company to a ski resort operator. in Finance from Villanova University, and a law degree from the Villanova School of Law. Accessed April 18, 2023. https://www.alterramtnco.com/news/announcing-alterra-mountain-company. Laurenjoined Alterra Property Group in May 2022 as part of the legal, acquisitions and asset management teams. 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. He has 17 years of experience in the real estate industry, including 12 exclusively in the IOS sector. Liberty was acquired by Prolog is in February, 2020 for $13B. 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. More on the banning of snowboarding, on one chair ski lifts, and limited use of artificial snow. Last modified April 28, 2010. Formerly at Fischer & Company, he spent his time working on all facets of strategic portfolio management and planning for numerous Fortune 500 companies through periods of both rapid network expansion and contraction. We will email you a link to reset your password. Bill Jensen stepped away from the CEO role in 2014 for personal reasons. The company grew to $524 million in revenue with over six million visitors across its resorts in 2013. Prior to Exeter, Mark was an Assistant Vice President at AEW Capital Management, focused on East Coast acquisition opportunities. 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. 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. By December 2019, Alterra had formed a $300M joint venture backed by JPMorgan Chase to acquire IOS properties. IOS AnalystSean ChristmanSean focuses on acquisition opportunities and asset management functions at Alterra Property Group. Alterra focuses on acquiring low density, supply chain and infrastructure real estate in core infill locations. Because of the turbulent global economy, Intrawest faced significant financial distress. For example, within the first season of owning Stratton, four high-speed chairlifts were installed, improving the skier experience. Alterra Property Group. Toronto, Ontario M4W 3C7, Phone. Intrawest Foreclosure a Threat to Olympics. New York Post. 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. At this time, Fortress had owned Intrawest for seven long years. Park Madison Partners, LLC is a New York-based capital markets and advisory firm for global real estate alternative investments. 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. 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. Intrawest Resorts Holdings, Inc. to Be Acquired by Affiliates of Aspen Skiing Company and KSL Capital Partners. Business Wire. All Rights Reserved. Commonly, private equity funds have a 10-year life where an investor will hold onto a company for 5-8 years based on strategy for optimizing returns. 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. Electrical and Electronics, Industrial The fund was heavily oversubscribed, closing at $524 million of total commitments, versus the original fundraising goal of $400 million. Accessed April 17, 2023. https://corpgov.law.harvard.edu/2022/09/02/dealing-with-activist-hedge-funds-and-other-activist-investors-5/. November 12, 2013. Accessibility Statement. "There are the zoning restrictions, and traditional industrial investors have converted a number of IOS properties. Chief Financial OfficerThomas Baker, CPATom Baker joined Alterra Property Group in May of 2017. 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. Previously, Gavin worked at HFF in Philadelphia on the debt and equity placement team. Joining Alterra in February 2021 as part of the legal, acquisitions and asset management teams, Carolyn handles the management of due diligence related to acquisitions and financing for Alterras Industrial Outdoor Storage sites. 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. Last modified May 4, 2006. 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. This article has been updated. in Finance with a concentration in Real Estate from the Pennsylvania State University. Park Madison Partners acted as the funds exclusive placement agent. Jeff received an MBA and a B.A. He has been on the Board of Citizen Financial Group from 2006 and on the Audit and Compensation and Human Resources Committees. 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. Before Rivian, he completed projects as a project management consultant, most recently as an Associate Director at Turner & Townsend. She currently resides in South Philadelphia with her fianc and their dog. Deputy General CounselJim Freeman, Esq. Intrawest Resorts Holdings, Inc. Investor Relations. Liam joined Alterra to bolster the strengths and add experience to the Development Team. in Finance from Georgetown University. DIRECTOR - IOS DEVELOPMENTJon CordingleyJonCordingleyjoined Alterra in 2022 as Director of Development, supporting the companys industrial outdoor storage portfolio with over 14 years of experience. 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. Accessed April 26, 2023. https://www.travelweekly.com/Travel-News/Hotel-News/Jensen-hire-means-a-sharper-focus-on-hotel-ski-business-for-Intrawest. As a leading Canadian real estate developer, Joe Houssian was introduced to Davis despite his complete unfamiliarity with the ski industry. Miller, Scott N. Layoffs, Cutbacks Hit Vail Resorts. The Aspen Times. Your email address will not be published. Pirate Capital Hedge Fund Boosts Stake in Intrawest. HedgeCo.Net. She brings to Alterra a strong understanding of real estate marketing, sales leadership, and team development. The catalyst for Alterra's expansion was when Addimando's friend Frank Bardonaro calledon behalf of his company, Maxim Crane Works. Over 53 communities developed. Stratton was a four-season resort, making it a lucrative investment for Intrawest beyond the ski season. This positive influence will continue as private equitys role in the industry grows. His clients include Tesla, Rolls-Royce, Chevron, and ExxonMobil Global Real Estate, among others. The Roanoke Times commented in 1995 that Intrawest has averaged 25 percent annual growth in skier visits. IOS AnalystSean Christman This investment fundamentally shifted the strategic focus of Intrawest and the development of the ski industry at large. Over the course of x years, Alterra has acquired, developed and managed more than x mixed use properties. Prior to joining Alterra, Rory was the Corporate and Fund Accountant for Rubenstein Partners L.P. working on the corporate entities and funds. 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. 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. Lacee holds a Masters in Accounting from the University of Maryland-College Park and an undergraduate degree in accounting from the College of Charleston. When they arent working, they enjoy traveling, snow and water sports, and backyard barbecues. Mark has a Bachelors degree from the University of Pennsylvania and currently resides outside of Philadelphia with his wife and son. degradable, Indiana Plant 2213 Killion Ave Seymour, IN 47274 +1(812) 271-1891. Prior to joining Alterra, Jeff was Vice President of Asset Management at Independence Realty Trust (NYSE: IRT), a role focused on leading strategic organizational initiatives in addition to the asset management of a diverse real estate portfolio. However, in a 2016 study, Professors Marijke Taks and Jona Ragoen found that ski participation in recessions broadly declines. 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. In his free time, Jim enjoys spending time with his family, traveling, being outside biking, hiking and skiing, working in his garden and having a nice meal and/or craft beer with friends. 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 Intrawest continued to face bleak prospects as it missed further interest payment in December 2009. On May 22, 2017, KSL Capital Partners (KSL) and Aspen Skiing Company announced a $1.5 billion buyout of Intrawest for a large 40% premium, once again removing the company from the public stock exchange. Alterra Capital Holdings Ltd : Alterra Capital Reports Fourth Quarter and Year End 2012 Re.. Alterra Capital Holdings Ltd : Alterra Capital Announces $0.16 Dividend, Alterra Capital Holdings Ltd : Markel Reports 2012 Financial Results, Alterra Capital Holdings Ltd : Alterra Capital to Release Fourth Quarter 2012 Earnings. April 29, 2023. https://www.hotel-online.com/News/PR2004_4th/Oct04_IntrawestMarket.html. Associate Transactions & ComplianceLauren OlsonLaurenjoined Alterra Property Group in May 2022 as part of the legal, acquisitions and asset management teams. Liam lives in Philadelphia with his Wife and two Mutts. Jeff oversees all asset management functions for Alterra Property Group. Chief Financial OfficerThomas Baker, CPA Founded on November 23, 1979 by Joe Houssian, Intrawest began as a Canadian real estate development company constructing single-family homes and apartments across British Columbia. In 2018, Alterra acquired 17 properties from Maxim across 12 cities in a sale-leaseback deal at the portfolio level. Jonhas completed projects working in a range of environments including industrial, manufacturing, hospital, lab expansions and corporate occupier. Last modified January 20, 2010. Park Madison Partners served as the exclusive placement agent. 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. He has 9 years of experience in the real estate industry. Tom Baker joined Alterra Property Group in May of 2017. Accessed April 17, 2023. https://www.nytimes.com/1998/07/15/business/company-news-intrawest-acquires-sandestin-resorts-for-130-million.html. 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. She remained at Liberty until February 2020 when it was acquired by Prologis. Shares of Debt-Heavy Intrawest Resorts Fall in Debut. Reuters. 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 1986, U.S. billionaire Marvin Davis wanted to sell off 20th Century Foxs skiing assets, specifically Blackcomb Skiing Enterprises, the owner and operator of Blackcomb Mountain in Whistler. William P. Hankowsky was Chairman, President, and Chief Executive Officer of Liberty Property Trust, until February, 2020. From evaluation to execution to management, Alterras competent team of industry experts guide the process quickly and efficiently.
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