Charlton Hamer, Senior VP of Habitat Affordable Group, on Affordable Housing and The Habitat Company

July 15, 2020 by Amanda Stanley

In this episode of Real Estate for Breakfast, host Phil Coover is joined by Senior Vice President of the Habitat Affordable Group, Charlton Hamer. Phil and Charlton discuss the affordable housing sector of the commercial real estate market, including development, funding and property management and operations. They discuss some interesting projects undertaken by the Habitat Affordable Group, including those in Opportunity Zones, and the impact of COVID-19 on affordable housing and commercial real estate.

The Habitat Company is a full-service real estate company with a people-first foundation and an emphasis on service.

As Senior Vice President of Habitat Affordable Group, Charlton Hamer provides leadership and oversight for all affordable housing clients, both development and property operations. Habitat’s affordable portfolio consists of 13,000+ units located in Chicago, Illinois, and St. Louis, Missouri. Charlton's experience spans development and both asset and property management. His focus on top-level operations sets the stage for portfolio growth in the affordable housing market.

Charlton has served in several leadership roles at real estate firms like Redstone Urban Properties, LLC; VESTA Corporation and Shore Area Community Development Corporation.

Professionally, Charlton is a member of the Urban Land Institute, the American Planning Association and the University of Illinois Alumni Association. Additionally, he served as the chairman of the Bridgeport, Connecticut, Redevelopment Agency.

Charlton holds a Master of Urban Planning and Policy from the University of Illinois at Chicago and a Bachelor of Arts in Urban Planning from the University of Illinois at Champaign-Urbana. He is a licensed real estate broker in the state of New York.

For more information, please visit http://www.habitat.com/.

Raising Equity in a COVID-19 World with Jay Soave and Matthew Burskey of Cadence Capital Partners LLC

June 01, 2020 by Amanda Stanley

In this episode, host Phil Coover is joined by Jay Soave and Matthew Burskey of Cadence Capital Partners LLC and Jay Augustyn of Ice Miller LLP. The Cadence team shares its approach to raising equity and placing debt for sponsors and developers to facilitate their real estate projects. Cadence employs a proprietary data-driven scoring system that evaluates and weighs deal vitals, demographics, trends and risk probability for its sponsor clients and capital sources. The discussion includes an insider’s look at how COVID-19 has impacted the retail and hospitality sectors and investments in Opportunity Zones.

Jay Soave in a Managing Principal at Cadence and leads the Chicago office with responsibility for sourcing debt and equity for all asset classes nationwide, focusing on the Northeast, Midwest and Southeast. Jay has structured, negotiated and closed sophisticated transactions for 16 years, representing over $15 billion in gross value. Before joining Cadence, Jay worked in Tishman Speyer for nine years as a Managing Director in the Transactional Tax Group based in New York. Before Tishman Speyer, Jay worked as an attorney in the Chicago offices of Skadden, Arps, Slate, Meagher & Flom, Kirkland & Ellis, and Baker & McKenzie where he represented clients in mergers and acquisitions, private equity transactions, restructurings, and fund formation.

Matthew Burskey is a Partner at Cadence and is responsible for the firm’s directional strategy and sourcing equity for all asset classes nationwide. Matt has established himself as an expert in the art of opportunity zone capital raises, yet his experiences spans all aspects of the capital raise spectrum.

Jay Augustyn is a Partner in Ice Miller’s Real Estate Practice. He represents clients in all manners of real estate transactions, including acquisitions and dispositions, financing, leasing and joint ventures. Jay also advises investors, developers and entrepreneurs in fund formation and investment matters with respect to the federal Opportunity Zone program and other federal, state and local programs to improve efficiency of project financing.

For more information, visit the Cadence Capital Partners website: https://cadencerec.com/.

Episode 30: Opportunity Zones – Bob Waun and Loren Guzik of Pike Street Properties, LLC

August 10, 2018 by Phil Coover

In this episode, Phil sits down with Bob Waun and Loren Guzik, two of the principals of Pike Street Properties, LLC, to discuss the new tax advantaged vehicle that everyone is talking about: Opportunity Zones. Pike Street is currently embarking on an endeavor to create and raise capital through the use of Opportunity Zone Funds, which was created by the Tax Cuts and Jobs Act of 2017 (a/k/a the Trump Tax Plan). Pike Street intends to raise these funds and invest in the communities they care about, namely, Pontiac and Flint Michigan. These gentlemen have been trying to revitalize these blighted areas for years, and now through this new vehicle, they may get their opportunity.

This bi-partisan initiative allows capital gains to be invested in certain designated opportunity zones and, if done following numerous specific guidelines (some of which are still being determined), can have significant tax benefits including deferred gains, step up in basis of 10% after 5 years, 15% after 7 years, and a waiver of gains on the appreciation of the investment if held for over 10 years.

You can learn more about the Opportunity Zones and Pike Street here: https://www.pikestreetproperties.com/

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