grand peaks Properties

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Grand Peaks has one of the most experienced, successful and well-respected development teams in the multifamily industry. Collectively, various members of Grand Peaks Properties development team brings over 40 years of active real estate development experience in markets ranging from San Diego, CA to Tampa, FL. Future ground-up development is one of the core strategies for the growth of the company.

When evaluating a new development, Grand Peaks strategy is to locate sites and design buildings under the assumption that they will be held as long-term investments. Therefore, we believe it is not in our best interests to cut corners by selecting inferior locations or building with substandard construction techniques. While Grand Peaks may look as selective dispositions over time, it is our belief that this "build for the long-term" philosophy will serve us well.

At present, the company owns land for development either directly in Texas, Colorado and Washington.

grand peaks Properties

During the analysis of a property acquisition, we give careful consideration to the future sale of a property. This careful consideration of an exit strategy analysis is an important approach and is incorporated into our initial acquisition. We target core markets which have been historically profitable in development, construction and acquisition endeavors and demonstrate above average population growth, strong employment characteristics, and consistent and sizeable institutional investment demand.

Once an opportunity has been identified, due diligence teams from finance, property management, and marketing proceed on separate, but parallel tracks to analyze a property's potential. The neighborhood, demographics, job growth and market analysis are key factors in the initial financial analysis of capital expenditures, income and operating expenses. This data is compiled into operating budgets and five to ten year projections. Depending upon the property, the budgets may include lease-up, rehab and stabilized budgets. The goals of these projections are to calculate the return on investment and the associated risks.

After rigorous due diligence, the final acquisition approval is determined by Management, who is ultimately responsible for the performance of each property acquired.

ACQUISITIONS CRITERIA:

Grand Peaks owns and manages communities that range in character from Section 42 tax credit properties to class A trophy communities. As such, the acquisition criteria are broad, focusing on projects across the United States of 150 units or more, with a market value greater than 10,000,000.

grand peaks Properties

Development Expertise

Grand Peaks has one of the most experienced, successful and well-respected development teams in the multifamily industry. Collectively, various members of Grand Peaks Properties development team brings over 40 years of active real estate development experience in markets ranging from San Diego, CA to Tampa, FL. Future ground-up development is one of the core strategies for the growth of the company.

When evaluating a new development, Grand Peaks strategy is to locate sites and design buildings under the assumption that they will be held as long-term investments. Therefore, we believe it is not in our best interests to cut corners by selecting inferior locations or building with substandard construction techniques. While Grand Peaks may look as selective dispositions over time, it is our belief that this "build for the long-term" philosophy will serve us well.

At present, the company owns land for development either directly in Texas, Colorado and Washington.

grand peaks Properties

Team

Luke Simpson

Luke Simpson

Chief Executive Officer

Luke Simpson co-founded Grand Peaks Properties in 2003 and currently serves as Chief Executive Officer. Mr. Simpson oversees the strategic direction and operations of Grand Peaks. Since inception, Grand Peaks has grown to encompass $750,000,000 of assets and 200 employees. The company currently operates in five states and the province of British Columbia.

Prior to forming Grand Peaks, Mr. Simpson served as Senior Vice President of Simpson Housing Limited Partnership where he focused on the company’s development operations. Mr. Simpson is a licensed real estate broker in the State of Colorado and currently serves on the Board of Trustees at St. Anne’s Episcopal School in Denver. He is a graduate of Southern Methodist University, where he majored in Real Estate/Finance. Mr. Simpson currently lives in Denver with his wife Brooke and their two children.

Nick Simpson

Nick Simpson

President

Nick joined Grand Peaks as the Asset Manager in April of 2003. He has previous experience in multifamily management since 1989. He has worked for Great West Management in Leasing and Maintenance. In addition, he worked for Azimuth Properties rehabbing residential properties. Nick graduated from Metropolitan State College of Denver where he holds a Major in Aerospace Science, and a Minor in Management.

Max Siler

Max Siler

Chief Operating Officer

Max Siler has been with Grand Peaks since 2007 and is currently responsible for sourcing and underwriting new acquisitions and developments, overseeing dispositions from contract negotiation to closing, and securing financing for new and existing properties within the portfolio. Additionally, Mr. Siler assists with ongoing asset manager over the company’s portfolio. Since joining Grand Peaks he has assisted with the recapitalization, acquisition, development, and disposition of 8,000+ multifamily units representing over $1B of transactions.

Mr. Siler is an active real estate broker in the state of Colorado.

He obtained his BSBA degree with a major in finance and real estate from the Daniels College of Business at the University of Denver.

Elli Lobach

Elli Lobach

Senior Vice President | Development

Elli has developed and constructed more than 1,100 rental units totaling over $240 million and managed acquisitions and dispositions totaling more than $300 million. Her previous employment included time with Holland Partner Group, Archstone Communities, and the New York City Economic Development Corporation.  She earned her Bachelor degree and Master of Real Estate and Project Management degree from Harvard University.

Spencer Welton

Spencer Welton

Senior Vice President | Pacific Northwest

Spencer has been active in real estate development for more than 20 years. He has developed and constructed more than 2,500 rental units and more than 150,000 square feet of office and retail space including projects in Boston, MA, Loudon County, VA, Yonkers, NY, Portland, OR and Seattle, WA . Spencer has participated in acquisitions, dispositions, development and construction totaling more than $750 million. His employment included 15 years with Simpson Housing Limited Partnership prior to joining Grand Peaks. He holds a Bachelor of Architecture degree from Carnegie Mellon University.

Scott Jackson

Scott Jackson

Senior Vice President | Texas

Scott Jackson is responsible for sourcing new development & acquisition opportunities in Texas.  In addition responsibilities include asset management, contract negotiations, and dispositions. Mr. Jackson has acquired and developed over 25 projects consisting of approximately 6,500 units.

Prior to joining Grand Peaks, Mr. Jackson worked with Fairfield Residential for 14 years as the development partner in Texas. Mr. Jackson graduated from Southern Methodist University with a BBA in Finance and Real Estate Finance.  He is a licensed Texas real estate broker and lives in Dallas.

Michael Sommers

Michael Sommers

Senior Vice President | Florida

Michael Sommers is the Florida regional Senior Vice President, where he focuses on multifamily acquisitions and asset management for the entire state of Florida. Prior to joining Grand Peaks, Michael was a Senior Vice President at Fifteen Group, where he over saw a 3,000 unit multi-family portfolio in four states. During his time there, he helped with the disposition of four apartment communities and a shovel ready development site in Miami. Prior to that, Michael was an Investment Associate for Equity Residential (EQR), where he worked from 2009 - 2014 acquiring apartment buildings and development sites. Additionally, Michael participated in overseeing the asset management of more than 20,000 apartments in EQR's Southeastern United States portfolio. During Michael's time with EQR, he was part of the deal team that underwrote and acquired the majority of the Archstone apartment portfolio from Lehman Brothers' bankruptcy estate for $9.5 billion dollars. Since 2009, Michael has also taught undergraduate and MBA-level courses in real estate investment and appraisal at the University of Miami as a part-time lecturer. Michael earned his Bachelor's degree with honors from the Finance Department at the University of Miami and has an MBA from the University of Florida.

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