Apartment Realty Advisors Llp

Jeffrey L. Patterson, Vice President, is responsible for financial analysis, market research and business development for brokerage advisory services in secondary markets throughout Texas including cities such as Corpus Christi, Bryan/College Station, El Paso and all of South Texas. Mr. Patterson joined ARA in 2003 from a national brokerage company where he worked as a financial analyst for their multifamily group. In addition to his real estate experience, Jeff has also been involved in financial advisory and business valuation consulting with PricewaterhouseCoopers LLP. Mr. Patterson graduated with a BBA in finance from the University of Texas in Austin.

Russell D. Jones, Vice President, manages the newly formed Private Client Services Group (PCSG) in Houston and handles all aspects of the marketing process taken on by the PCSG, including client development, pricing strategies, valuation/ modeling, marketing, as well as negotiation and closing of transactions.

Timothy Dosch, Vice President, brings a heightened level of urban-redevelopment, land sales and corporate relocation expertise that elevates and expands service delivery to clients. Prior to joining ARA, Tim worked as a member of a commercial brokerage company's land sales services team. In 2006, he was involved in more than $100 million in transactions and managed approximately 175 listings.

Steve O'Dell is a 25-year veteran of the commercial real estate industry, including 15 years as a high-producing broker and 10 years as a commercial brokerage managing director. In the past six years Steve has specialized in the sale of multi-housing land, resulting in the sale of over 6,500 units of development land in the Denver-metro area. Steve has a thorough understanding of land development and entitlement, having also participated as a principal in land development. Mr. O'Dell works with all the active developers that focus on 200 unit and larger projects, such as JPI, Embrey Partners, Carmel Development, AMLI Residential, Morgan Group, Dermot Development and Trammell Crow Residential, to name a few. Steve's highly focused approach to the land business has delivered consistent top-of-the-market results for our clients.

Brian O'Boyle is Founder and Managing Broker of the ARA Dallas office. He has twenty-seven years of experience in real estate, specializing exclusively in the brokerage of multifamily projects. Although most of his recent activity has centered in Texas, he is licensed in North Carolina, Virginia, Oklahoma, and Kansas as well. In November, 1986 he was awarded the Certified Commercial Investment Member (CCIM) designation by the Commercial Investment Real Estate Council of the Realtor's National Marketing Institute (license #2970); this is the highest designation award available to those in commercial investment real estate. In November, 2002 he was presented the Stemmons Service Award by the North Texas Commercial Association of Realtors; this prestigious award is given annually by the NTCAR in recognition of outstanding leadership and contributions to the both the Real Estate industry as well as the community. In April, 2002 Brian was again awarded the 2001 "Heavy Hitter's Award", given to the #1 Investment Broker in the Metroplex (he also received this award in 1998). In 2005 he received "special recognition" status by the Dallas Business Journal. In recognition of his knowledge of the Dallas/Fort Worth multifamily real estate market, Brian has been a guest speaker at over fifty events throughout the state. Brian holds a Bachelor of Business Administration degree from Ohio University.

Matthew P. Rotan, principal and co-founder of Apartment Realty Advisors has been involved in the multi-family industry since 1989. Matt's responsibilities include hands-on interaction with all assignments taken on by ARA, as well as being in contact with equity sources and maintaining investment bank and lender relationships. In addition to day-to-day consulting and brokerage services, Matt is responsible for developing new business opportunities whether brokerage or advisory services, in Texas or across the United States. Matt oversees and helps develop national multi-family market information, which helps to differentiate us from other investment companies. Additionally, Matt has frequently been asked to speak as an expert on the Houston and Texas Apartment Markets.

David has been in the multi-family investment business since 1986 and has received nationwide recognition for his performance in the apartment market both in Houston and throughout the United States. David has direct responsibility for the underwriting, analysis and pricing strategies of the multi-family assignments taken on by this office. David is integrally involved in the marketing process on all of the properties represented by this office and from the preparation of an Opinion of Value to final packaging to contracting and closing. Through being personally involved in the sale of over $1 billion of multi-family properties, he has the experience and execution skills to successfully orchestrate any multifamily transaction. David is asked to speak as an expert in the multi-family market.

As Marketing Director her responsibilities include; the structuring and implementation of marketing strategies, in-house design and production of multimedia presentations, offering documents and brochures, manages the production, marketing timelines and schedules of various projects as well as acting as a liaison between the principals and their clients. Prior to joining ARA in 2005, Cassandra led a team in the Global Funds Transfer department at Wachovia Bank, where she gained valuable leadership skills while implementing international monies exchange. She graduated in 2002 with a Bachelor of Business Administration in Marketing from the University of Wisconsin at Oshkosh.

Since joining ARA in January 2006, John has been responsible for all phases of underwriting, market and economic research, analysis, pricing strategies, and valuation of multifamily assets including land, pre-sale and stabilized properties. John was previously in Asset Management with Laureate Capital (now Grandbridge) where he was responsible for a portfolio of loans across product types with a focus on multifamily notes sourced through Freddie Mac. He graduated from Davidson College in 2004 with majors in Economics and Classical Civilization.

Kyle Grider joined Apartment Realty Advisors as Transaction Manager after several years in development and sales management. Mr. Grider most recently managed over $150 million in annual sales for the largest homebuilder in southern New Jersey. Prior to this he oversaw production and sales activities for Toll Brothers' transportation oriented developments in Chicago. He also directed the acquisitions for a private equity group in Cincinnati, OH concentrating their real estate investment activity in value-added residential and mixed-use urban assets. Kyle earned an MBA from Simon School of Business at the University of Rochester and a BA from the University of Cincinnati. Kyle is a licensed broker in New Jersey and Colorado and is an actively engaged member of the Urban Land Institute.

Jason Wine joined Apartment Realty Advisors as Transaction Manager to work with Terrance Hunt and Shane Ozment. Jason has extensive experience in Multi Family investments having spent 10 years as a Private Investor and Property Manager. In this capacity he oversaw the acquisition and management of 4 apartment buildings in Denver, Colorado totaling 209 units. He has also worked as principal in residential development and condo conversion projects. Jason Graduated from the University of Colorado with a Bachelor's Degree in Economics and earned a Master's degree from the University of Denver's Real Estate and Construction Management program.

Kelly Witherspoon, Transaction Manager, is responsible for financial analysis, market research and business development for brokerage advisory services in secondary markets throughout Texas and New Mexico. Mr. Witherspoon joined ARA in October 2005 from a national brokerage company where he focused primarily on tenant representation brokerage services in the Austin area. Prior to his work in Austin, Mr. Witherspoon worked with a private commercial real estate company in Dallas, performing real estate portfolio analysis for a number of clients. Mr. Witherspoon graduated with a BBA from Texas State University, while also playing baseball for the college.

Patty Roberts, Office Manager, is responsible for supporting the sales and marketing efforts of the Secondary Markets and Austin/San Antonio Teams. Prior to joining ARA, Ms. Roberts was an analyst with a national real estate investment banking firm responsible for the due diligence and closing process, annual lender inspections for multifamily, retail, office and industrial properties, and preparation of loan submission packages. Previous experience includes operations manager for a publication company and accounting assistant for a commercial property management firm.

Ray White joined Apartment Realty Advisors after working with the Structured Products Group of Newman Financial Services as an Asset Manager. While at Newman, Mr. White managed the day to day operations of a $400 million lending facility for one of the nation's largest tax credit syndicators. As Transaction Manager, Ray works directly with Doug Andrews and Jeff Hawks. His efforts allow each brokerage member of the Apartment Marketing Team to work at maximum efficiency. Ray is a graduate of the University of Denver School of Law and has a Masters Degree in Real Estate and Construction Management from the Burns School of Real Estate at the University of Denver. Ray is a licensed Real Estate Broker in Illinois and Colorado.

David W. Stockton, Controller, focuses his time maintaining the financial, personnel, and general corporate responsibilities for ARA. His duties provide detailed support for the overlying business in which ARA is involved. Mr. Stockton joined ARA in March 2004 after two years as an auditor with KPMG. While at KPMG, Mr. Stockton spent his time examining in depth accounting practices of various companies as well as studying other general business practices of clients. Mr. Stockton also has experience as an investment analyst at an equity trading hedge fund as well as analyst experience at GE Capital Real Estate. His work experience is complimented with an accounting degree from the University of Baylor.

Vickey is responsible for maintaining the financial, personnel, administrative and general corporate responsibilities for ARA Charlotte. Her duties provide detailed support for the overall day-to-day business operations. She is also the Executive Administrator for the ARA-Charlotte Charitable Foundation. Vickey joined ARA in June 2005. For 15 years, she has owned her own consulting company assisting small businesses with their accounting and financial practices, personnel matters, as well as other general business practices. Vickey has a Bachelors Degree in Business Education, as well as a Masters Degree from Marshall University.

Brian Pace joined ARA in 2006, and since that time has been actively involved in the sale of more than $350 million in apartment properties throughout the Midwest. He has over ten years of commercial real estate and multifamily experience, and specializes exclusively in the marketing and sale of multifamily properties in Ohio and Kentucky. His areas of expertise include sophisticated financing underwriting, market analysis and asset valuation, and he is involved in all aspects of sales transactions from client contact and marketing through negotiation, due diligence and closing. Brian is also responsible for client development and new business production, and provides detailed and professional marketing plans for owners that enable them to achieve their goals. Brian graduated with a Bachelor of Science in Communication from Ohio University and is licensed to sell real estate in the states of Ohio and Kentucky.

Chris Cowan is employed as an associate land broker and analyst. His responsibilities at ARA include compilation of market land data, construction pipelines, future apartment land scouting and assistance in the brokerage of multifamily land. Chris's current assignment is surveying the entire Denver market for future transit oriented development opportunities and multifamily sites including, monitoring property status changes from local municipalities and zoning requirement changes. After Chris completes the land survey he will manage a fundamental land real estate database that will track pertinent information aiding in the entitlement and development process of multifamily land. His background includes working as a construction superintendent for a national homebuilding firm. Chris graduated from the University of Denver with a combined Business degree in Real Estate and Construction Management with an emphasis in Statistics.

Chris recently joined ARA from another national brokerage firm and heads up the newly formed Private Client Services Group in Dallas. Chris handles all aspects of the marketing process including client development, pricing strategies, valuation/modeling, marketing, negotiation, and transaction closings. He is a graduate of Southern Methodist University, with a B.B.A. in Real Estate Finance.

Christopher Leavitt, Analyst, graduated with a BA from the University of Texas at Austin,, and with a J.D. from the University of Houston Law Center. He is responsible for the underwriting, market research and financial analysis of ARA projects. Mr. Leavitt is a licensed Texas attorney.

Clifford P. McDaniel serves as a principal of this central region office of ARA. His duties include brokerage, client development, and staff organization. He is also responsible for the development and implementation of the network software, which provides the precise market knowledge and responsiveness, which are key factors in our success. One of Cliff's most noted accomplishments was being recognized as the leading apartment broker for Resolution Trust Corporation, selling more multi-family properties than any other broker in the United States. This allowed him to conduct nationwide marketing campaigns and helped him earn a reputation as a leading national broker. Cliff has successfully worked with a variety of clients including insurance companies, banks, savings and loans and syndicators. He has made it a principle cornerstone of his brokerage business to acquire a broad knowledge of his client's history and current needs and to maintain an extensive knowledge of the apartment market and financial and equity market.

David C. Wylie, Principal, directs his attention toward the development and production of new business. Utilizing his Business degree from the University of Texas, Mr. Wylie contributes to client development, sourcing of new buyers, and pricing strategies of the multifamily assignments taken on by ARA. Through his involvement in the sale of over $1.5 billion of multifamily properties with ARA, Mr. Wylie has the skills necessary to orchestrate successful multifamily transactions.

David Whitby, Analyst, obtained his BBA in Finance from McCombs School of Business at the University of Texas at Austin. Mr. Whitby is responsible for market research, underwriting, and the financial analysis of ARA projects.

Doug Andrews has worked in commercial real estate in Denver and Colorado Springs for 20 years. Doug has been a specialist in apartments and multi-family land since 1991. In the last four years, Doug has closed more than $1 billion in multi-family transactions, representing a list of clients that includes JPI, Equity Residential Properties Trust, AMLI Residential Trust, SSR Realty Advisors, The Carmel Companies, Embrey Partners and The Archon Group. Doug has been a member of the portfolio disposition teams for Balcor/American Express ($600million), Archstone Communities ($650 million), Mitsui Real Estate ($225 million), and Jupiter Realty Corp. ($65.5 million). Doug was honored as the Denver Realtor's Investment Broker of the Year in 2000.

Ian Mattingly recently joined Ken Greene as an associate in Colorado Springs. Prior to accepting this new challenge, Ian spent nine months as the Apartment Realty Advisors Marketing Team research analyst. In his capacity as research analyst, Ian collected and compiled apartment market data for all of Colorado's major apartment markets, as well as for ARA's Phoenix office. Ian graduated from Northwestern University in 2001. He has worked for the American Bar Association, Amnesty International, and the Phil Long Family of Dealerships in a variety of support and managerial roles. Ian is excited to bring his diverse experience to bear on the challenge of creating win-win scenarios for multifamily property owners and buyers in greater Colorado Springs.

Jeff Hawks is a 33-year veteran of the real estate business, specializing in apartments for the last 30+ years. In the last four years he sold in excess of $2 billion in Colorado apartment properties. Prior to starting Apartment Realty Advisors in 2002, Jeff, with his partner Doug Andrews, was the top apartment broker nationally for Grubb & Ellis for three consecutive years. He was selected as Denver's top commercial real estate broker in 2000 by the Denver Board of Realtors. He has been the #1 multi-housing specialist in Denver the last 10 years and has sold more Colorado apartments than any other broker in Denver's history. Mr. Hawks closed more than $800 million in transactions in the last 12 months.

Justin Hunt joined Apartment Realty Advisors in April 2008 bringing with him fourteen years of real estate experience. His background includes property management, private investment activities, as well as lending management, underwriting and compliance. While at ARA, Justin's focus has been on the marketing and disposition of distressed multi-family assets, in addition to financial and asset analysis. Mr. Hunt works closely with several lending institutions in assessing multi-family collateral and producing disposition strategies of bank-owned assets. Prior to joining ARA, Justin was Regional Manager at GMAC ResCap where he managed 18 states and over $200 billion in transactions annually. Justin was raised in the Denver area and received his Bachelor of Science degree from Colorado State University with concentrations in Finance and Real Estate.

Larry Corson, Principal, is a native of Dayton, Ohio. Larry is involved in all aspects of the sale of apartment properties, including underwriting, valuation and negotiating the sale of the company's listings. In addition to his sales and financial analysis functions, Larry also serves as an officer and board member of ARA nationally.

Mike transferred to the Dallas office in January, 2007 from ARA Boston, where he was an investment broker since 1999. While in Boston, he was involved in $1.7 billion in multifamily transactions representing 19,500 apartments and permitted land sites. Prior to joining ARA, he worked as a merchant for a business unit at Filenes, a division of May Company (now Federated). While with May, he managed over $100 million in purchases. Mike received his B.S. in Finance from Babson College a specialty business school consistently top ranked in real estate.

Natalie Bechtol, Marketing Specialist, joined ARA after graduating from the University of Texas with a BBA in Finance and a concentration in Real Estate. Ms. Bechtol is responsible for the implementation of marketing strategies and in-house production of marketing materials including offering memorandums and investment flyers. Over the last year Ms. Bechtol has focused much of her time marketing three multifamily portfolio listings for ARA.

Pat Jones became the Vice President of Sales for Source One Spares in October of 2001. But he is not new to the company, in fact he is one of the very first employees. After a short stint in Houston in 1997, Jones traveled to London in early 1998 and established Source One Europe. In two years as Managing Director of Source One Europe, Jones grew the European operation to represent 20% of the total revenue of the company. In early 2000 Jones left the European operation and went to Hong Kong to establish Source One Asia. Pat was able to duplicate his success in Europe by growing the Asian operation to approximately 10% of Source One's total revenue in only a year. Prior to joining Source One, Pat served as the Director of Midwest Energy Marketing for QST Energy Trading, a division of Central Illinois Light Company. While at QST, Jones accomplishments included developing a $10 million per month book of business consisting of financial basis and physical natural gas positions. In addition, he was responsible for optimizing, hedging and managing storage and transportation for local distribution companies and industrial end-use customers. Prior to joining QST, Jones served as a Senior Marketing Representative for El Paso Energy. Pat holds a Bachelor of Arts Degree in Government from the University of Texas at Austin.

Since joining ARA Charlotte in 2007, Sean has gained vast experience in multifamily brokerage and advisory services. Sean brings depth and versatility to ARA Charlotte's brokerage team being integrally involved in the valuation, marketing, and business development of multifamily properties throughout the MidAtlantic. Prior to joining ARA Charlotte, Sean worked for Brookfield Properties as a financial analyst for the company's leasing, development, and acquisition of high-rise office properties throughout the southwest. Additionally, Sean has experience working in the Transfer Pricing Group of Ernst & Young's Houston office, as well as working as an Analyst in ARA Houston's office and having completed hotel management training at the JW Marriott Hotel in Mexico City. Sean received his undergraduate degree from Texas Tech University with an emphasis on International Business and Spanish. He also obtained a Masters Degree in International Management from Texas Christian University and The University of the Americas in Puebla, Mexico.

Shane Ozment is an associate broker for Apartment Realty Advisors, specializing in small to medium-size multifamily properties located in Metro Denver. In 2004, Mr. Ozment was recognized by Denver Metropolitan Commercial Association of Realtors and The Denver Business Journal as a Heavy Hitter with over $7,270,000 in apartment sales. Prior to joining Apartment Realty Advisors, Mr. Ozment was employed as a stock broker with Morgan Keegan, Inc., and as a financial advisor with Prudential Securities in Portland, Oregon. Mr. Ozment has over eight years experience in securities and investment sales. Mr. Ozment received his Bachelors Degree in Marketing and Business Administration from the University of the Ozarks and his Masters Degree in Finance from the University of Colorado.

Terrance Hunt has been involved with income properties for a majority of his life, beginning with personal investments. Mr. Hunt was involved with property management for several years until he joined Grubb & Ellis in 1995 to specialize in the sale of apartment properties. Mr. Hunt was the top producing apartment broker for Grubb & Ellis nationwide in 2002. Mr. Hunt joined Apartment Realty Advisors in 2004 as Principal where he has been consistently one of Denver's top multifamily brokers, handling over $500 million in multifamily transactions. Mr. Hunt has extensive experience in all types of multifamily properties, including government subsidized housing, low income housing tax credits, condominium conversions and senior housing.

Vince Lefler, a native of Georgia, joined Apartment Realty Advisors in February, 2006. Vince was brought on specifically to focus on markets in Tennessee and Alabama, as well as secondary markets in GA. Vince has helped successfully market and close transactions in Augusta, Savannah, Birmingham, Nashville and Memphis. Prior to joining ARA, Vince worked with IBM for 6 years. As a Senior Software Representative and Consultant, he traveled extensively throughout the Southeast, and developed contacts and gained local knowledge in Nashville and Memphis. Vince excelled in his role at IBM in developing relationships and matching clients with the right solutions. Vince received various awards and recognitions, including Top Software Representative in the Southeast, Leadership and Top Contributor. Vince earned his B.S. from Mercer University in Macon. He has been active in volunteer work since 1992 with organizations including HOPE for Children, HOPE Worldwide, and United Way. He enjoys golf, tennis, and coaching his sons' sports teams.

serves as a Director of the Company and the Bank. He is Chairman of Apartment Realty Advisors, the nation's largest privately held multi-housing brokerage company. He is also President of Kach Enterprises, a real estate investment company.

Brian joined the company three years ago from another firm, where he was a Senior Financial Analyst in the Financial Services Group. Brian has eight years of commercial real estate experience including financial analysis, lease analysis, market research, and assisting in the preparation of offering memorandums. Brian is integrally involved in the marketing process on all of the properties represented by this office, from the preparation of an Opinion of Value to final packaging to contracting and closing. Brian received a Bachelor of Arts degree in Business Administration from Iowa Wesleyan College.

Richard joins ARA with over sixteen years of real estate investment and industrial brokerage experience and over $1,000,000,000 in investment sales. He has performed investment brokerage and consulting services for international investors, large national firms, regional firms and local corporate and private companies. Rich provides a connection between the local market and a broad range of national and international investors and contacts. Prior to joining ARA, Rich worked as an industrial broker with Cushman & Wakefield. He received his B.A. in Economics & Finance from Colby College in Waterville, Maine. He is a member of the Greater Boston Board of Realtors and past president and member of the New England Chapter CCIM, a designation awarded to trained investment specialists. Rich is licensed to sell real estate in Connecticut, Massachusetts and Rhode Island.

Terence has had over $900 million in multifamily and commercial real estate sales. He is a senior marketing professional with over 20 years of broad-based experience in sales, marketing, asset management, development consulting and appraisal of Commercial Real Estate. Terence has been an integral member of the Commercial Investment Multifamily Team. He liquidated a diverse portfolio of FDIC-owned commercial real estate from the close of Bank of New England, including 35 multifamily transactions. As a multifamily specialist, Terrence was the point person for collateral evaluations and due diligence for RECOLL Management's load recovery department. Other experience and accomplishments include: consultant to the City of Cambridge for property re-evaluation project encompassing all commercial and multifamily properties acquisition and site selection for CBI Development Company, IBM, Olin, Allied Signal, Dunkin' Donuts and many others. He also stabilized a 2,000-acre vacation home community for the Bank of New England. Terence is a licensed real estate broker in Maine, Massachusetts, New Hampshire and Rhode Island. He has completed special courses in real estate finance, appraisal and finance taxation techniques. He is a graduate of Sir George Williams College.