With the looming collapse, Intrawest entered into a restructuring plan on April 28, 2010 to refinance $1.2 billion of loans. Municipalities arent creating more outdoor storage, but every MSA needs it for its supply chain infrastructure.. Accessed April 18, 2023. https://www.alterramtnco.com/news/announcing-alterra-mountain-company. (657) 247-2600 Co-Founding Partner & General CounselJeff Pustizzi The Song Was Stuck on Repeat for Intrawest. Copyright 2010 2022. 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. Throughout his career he has traveled extensively, leading millions of square feet of projects from inception to completion in 24 different states. Our dedicated staff of industry experts strive to provide the highest level of management services for residential, retail and commercial properties. Daniel Jarvis, previously CFO of Intrawest, led this new group. in Finance from Villanova University, and a law degree from the Villanova School of Law. 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. During his career, Liam has managed development and construction of projects ranging from historically significant adaptive reuse to technical healthcare facilities including a BSL3 to mixed-use developments. Alterra Intrawest Resort Holdings, Inc. Intrawest Sets Its Sites on Global Leisure and Travel Market; Crosses $1.5 Billion Revenue Milestone. Hotel Online, October 20, 2004. Alterra Capital Holdings Ltd : Markel to Acquire Alterra for Approximately $31 Per Share i.. Alterra Capital Holdings Ltd : Alterra Announces an Increase in the Capitalization of New .. Alterra Capital Holdings Ltd : Alterra to Partner with Ullico Casualty Group for US Profes.. Alterra Capital Holdings Ltd : Alterra Capital Reports Third Quarter 2012 Results. WebCompany profile page for Alterra Mountain Co including stock price, company news, press releases, executives, board members, and contact information "When you try to scale in a different asset class nationally, its almost like youre starting over, with different capital providers, different people doing deals.. 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). In 2018, Alterra acquired 17 properties from Maxim across 12 cities in a sale-leaseback deal at the portfolio level. Accessed April 17, 2023. https://www.perenews.com/fortress-buys-intrawest-for-2-8bn/. After Turner, Mark worked 7 years at one of Philadelphias preeminent professional project management/real estate services company, Aegis Property Group. Prior to Alterra, Tom worked for several private real estate equity firms in the Philadelphia area within multiple real estate asset classes. CORRECTION, APRIL 14, 10:15 A.M. Rory is from Haverford, PA and currently resides in Philadelphia with his wife. Save my name, email, and website in this browser for the next time I comment. Over 17+ years as a real estate entrepreneur, Leo has gained experience with a diverse range of real estate product types, acquired industrial properties in 30+ US States, closed over $2.5B of real estate transactions, acquired or developed over 3,500 residential units, structured dozens of complex transactions, and overseen all aspects of numerous residential, commercial, industrial, and mixed-use real estate development projects. Deputy General CounselJim Freeman, Esq. He grew Liberty to be one of the nations leading REITs with 112million square feet logistic portfolio across 24 US markets and the United Kingdom. in Finance from Georgetown University. Pitchbook. She worked on licensing and regulatory matters for 400+ properties throughout the United States. The company grew to $524 million in revenue with over six million visitors across its resorts in 2013. In 2013, Intrawest filed with the SEC on November 12 to become a publicly-traded company under the ticker SNOW. An activist hedge fund looks to take an active position in their investment by working closely with management to extract value. Real estate prices are closely tied to interest rates because investors require mortgages and loans. Accessed April 17, 2023. https://corpgov.law.harvard.edu/2022/09/02/dealing-with-activist-hedge-funds-and-other-activist-investors-5/. January 20, 2010. They often pressure management teams into making quick and decisive business decisions, such as laying off employees or selling core business units. Park Madison Partners acted as the funds exclusive placement agent. He grew Liberty to be one of the nations leading REITs with 112million square feet logistic portfolio across 24 US markets and the United Kingdom. Alterra Property Group 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. So far, we havent felt like conditions are right to expand into a new market; weve been sort of waiting for a correction on that front.. Email. SVP- Development & ConstructionMark Cartella Prior to Exeter, Mark was an Assistant Vice President at AEW Capital Management, focused on East Coast acquisition opportunities. 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. Jeffs 15 years in real estate have allowed him to gain a wealth of experience in both the legal and business aspects of the industry. 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 was formerly the head of real estate for an international transportation and logistics company. As a leading Canadian real estate developer, Joe Houssian was introduced to Davis despite his complete unfamiliarity with the ski industry. Contact. in Finance with a concentration in Real Estate from the Pennsylvania State University. Before Rubenstein, Gillian worked as an Acquisitions and Asset Management Analyst at Brandywine Realty Trust, where she helped underwrite and do Due Diligence for transactions on offices. WebFree access to listings of Alterra Homes. Altria Group, Inc. (MO) Stock Price, News, Quote & History ET:A previous version of this article misstated the nature of its first deal with Maxim, what year Alterra acquired Maxim's portfolio of industrial outdoor storage properties and the total value of its most recent fund. Matt has been involved with over $1 billion of transactions during his time at Alterra. Last modified August 11, 2006. Matt has an MBA from the Wharton School of the University of Pennsylvania and a B.S. 700+ years Jensen Hire Means a Sharper Focus on Hotel Ski Business for Intrawest. Travel Weekly. 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. Because of this, private equity plays an immensely important role in ensuring that ski companies have consistent and healthy access to the capital markets, preventing any disruptions to the ski season. Web100+ properties across 30 states $1B+ in transaction volume Learn more Mixed Use Development Since 2005 Alterra has acquired and managed dozens of mixed use and Six months later, it secured a $100M credit facility with Morgan Stanley for the same purpose. Director of MarketingLeah McVay While the Global Financial Crisis exposed some risks in working with private equity firms, without the financial support and knowledge of Fortress investors, Intrawests story could have taken a turn for the worse, adding its name to a long list of failed companies in 2008-09. 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. APG IOS is Alterras industrial real estate platform dedicated to providing real estate solutions through property acquisition, development, management & leasing for tenants in the heavy industrial & outdoor storage space. The North American average is 1 percent. The company positioned itself as an operator, not just an owner or investor. Accessed April 16, 2023. https://scholar.uwindsor.ca/humankineticspub/40. Before Rubenstein, Gillian worked as an Acquisitions and Asset Management Analyst at Brandywine Realty Trust, where she helped underwrite and do Due Diligence for transactions on offices. Associate - Acquisitions & Asset ManagementGavin Weaver Since its formation in 2006, Park Madison has advised on over $20 billion in private capital placements for a wide range of real estate vehicles including closed-end funds, open-end funds, separate accounts, programmatic joint ventures, and recapitalizations. The company is comprised of a highly qualified team of professionals that handle all Mattfocuses on sourcing, underwriting and acquisition due diligence for Alterras Industrial Outside Storage platform. Mattattended Arizona State with a degree in Business Administration Marketing. Jeff began his career as a consultant within Deloitte Consultings Strategy and Operations practice, focusing on organizational growth strategy and opportunities with large, global clients. Canada went through a recession in the early-1980s from rising inflation, thus creating a bad economy for foreign investors to enter and compete against Intrawest. And, over the next three years, Intrawest grew revenue to $570 million before ultimately garnering new interest from private equity investors. 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. VP - Industrial TransactionsCarolyn Barr Late last year, Alterra launched its first discretionary fund in partnership with New York-based Park Madison Partners. Stratton was a four-season resort, making it a lucrative investment for Intrawest beyond the ski season. SVP- IndustrialCharlie Totten Alterra Capital Holdings Ltd : Alterra Capital to Release Fourth Quarter 2012 Mattattended Arizona State with a degree in Business Administration Marketing. Jeff began his career as a consultant within Deloitte Consultings Strategy and Operations practice, focusing on organizational growth strategy and opportunities with large, global clients. Tom currently resides in New Jersey with his wife and three children. We understand that we have a responsibility. Liam lives in Philadelphia with his Wife and two Mutts. Miller, Scott N. Layoffs, Cutbacks Hit Vail Resorts. The Aspen Times. 7 2022. alterra property group stockhtml5 interactive animation. More on the banning of snowboarding, on one chair ski lifts, and limited use of artificial snow. 2, (Spring 2015): 5970. Alterra Capital Holdings Ltd : Alterra Capital Announces $0.16 Dividend and $100 Million S.. 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. Currently, in his role at Alterra, Leo oversees management of the firm, provides overall vision and leadership to the company, serves on its Investment Committee, raises capital, overseas residential, mixed-use, and industrial development, and spearheads the firms residential/mixed-use development and investment strategy. Above all else, the emphasis on the skier, employee, and community experiences continues to shape the brand. 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. He has also held several senior positions with Philadelphia based development groups, including Shift Capital, a mission based Social Impact Fund. Last modified January 11, 2018. Later, in 2004, Intrawest reorganized its mountain and warm-weather resorts into a new corporate division called the Leisure and Travel Group. Associate Transactions & ComplianceLauren Olson WebThe Alterra IOS team brings an institutional comprehension of the municipal, environmental, and logistical complexities in acquiring, leasing, and occupying mission-critical real 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. Home - Alterra Property Group Chelsea holds her Bachelors of Business Administration in Marketing from the University of Pittsburgh. 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). Liberty was acquired by Prolog is in February, 2020 for $13B. It was not for another decade that the firm became interested in the ski industry. MarketScreener: Created by Investors for Investors! All Rights Reserved. In 1996, they purchased 31% of Mammoth Mountain in California. Eventually, Intrawest expanded into the U.S. in 1994 by acquiring Stratton Mountain in Vermont. Just hit yes and continue on your way. The 2007-2008 Financial Crisis: An Avalanche Smashes the Ski Industry. She brings to Alterra a strong understanding of real estate marketing, sales leadership, and team development. 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. Despite these positive developments, Intrawests stock struggled to reflect the true value of the firm on the public market. Additionally, she is a Notary Public and a licensed Real Estate Salesperson. Announcing Alterra Mountain Company: A Family of 12 Iconic Mountain Destinations in North America. Alterra Mountain Company. 18, no. Intrawest continued to face bleak prospects as it missed further interest payment in December 2009. She brings over 15 years of marketing and project management experience in multi-family housing, student living, and furnished corporate accommodations. In developingand managing properties hyperlocally like were doing in Philadelphia and Greater Center City, you can take for granted that you know the local laws and players," Addimando toldBisnow. She currently resides in South Philadelphia with her fianc and their dog. Carolyns legal/real estate career began at law firms in Kalamazoo, MI (Legal Secretary) and then Atlanta, GA (Paralegal). Alterra views property management as a core division in our company. Alterra Plenty of commercial real estate companies operate in multiple asset classes, but few have a portfolio like Alterra Property Group. 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. 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. APG IOS is Alterras industrial real estate platform dedicated to providing real estate solutions through property acquisition, development, management & leasing for tenants in the heavy industrial & outdoor storage space. 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. 2013. 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. Fortress is a private equity firm that invests in businesses with strong asset bases and cash flows, such as real estate. 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. We are always growing! 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. 1 (June 22, 2007): 123. DIRECTOR - IOS DEVELOPMENTJon CordingleyJonCordingleyjoined Alterra in 2022 as Director of Development, supporting the companys industrial outdoor storage portfolio with over 14 years of experience. 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. It has been sent. 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. Alterra Mountain Company Plans to Invest Nearly Half a Billion Dollars in Transformational Changes in the Year Ahead. Alterra Mountain Company. 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. See reviews, salaries & interviews from Alterra Home Loans employees in Chino, CA. Lauren works closely with all members of the Industrial Outdoor Storage team on transactions, due diligence, compliance, and insurance. Matthew Pfeiffer - Steers Global Real Estate 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. Intrawests Continued Struggles Attracted New Interest. in Finance from Villanova University, and a law degree from the Villanova School of Law. 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. 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. Chief Financial OfficerThomas Baker, CPATom Baker joined Alterra Property Group in May of 2017. The prices, plans, amenities, availability, and improvements shown are subject to change without notice. Deputy General CounselJim Freeman, Esq.Jim Freeman serves as Deputy General Counsel of Alterra Property Group, LLC. Bill Jensen stepped away from the CEO role in 2014 for personal reasons. He received a Bachelor of Arts degree in economics from Brown University. He was formerly the head of real estate for an international transportation and logistics company. Noting that the staggering amount of capital looking to invest in value-add multifamily has all but erased the possibility of getting a satisfactory return, Alterra has committed to modular development as a way to control and reduce construction costs, betting that when it stabilizes and sells a property, investors won't care how it was built. Parker received a Bachelors of Arts in Accounting and Entrepreneurship from Miami University in Oxford, OH. BamSEC website. Matt has been involved with over $1 billion of transactions during his time at Alterra. Web2950 Airway Avenue, Suite A9 Costa Mesa, CA 92626. Alterra Wynwood Today, Addimando admits he knew little about Boston as a real estate market and even less about a little-known niche of industrial property. Activist hedge funds patrol inefficient, undervalued, and mismanaged public companies. Alterra Wynwood of Brea | Assisted Living | Brea, CA 92821-3374 Originally from Baltimore, Lacee currently resides in the East Passyunk area of Philadelphia. The primary question for avid skiers and community residents is whether these financial investors have good intentions. In addition, he is responsible for raising and structuring equity and debt for Alterras ongoing business initiatives. She currently resides in South Philadelphia with her fianc and their dog.