Senior Vice President @ From 2015 to Present (less than a year) Washington D.C. Metro AreaDirector @ ● Retail Project Manager for the 185,000 SF retail development component of CityCenterDC, a 2.5 million square foot urban infill mixed-use project in Washington D.C. consisting of trophy office, retail, residential and condominium assets.
● Primary duties included development of the base building retail shell, support of the third-party leasing team, design and tenant coordination, oversight of the development and operations budget, investor and lender reporting, and construction loan draw approvals and projections.
● Selected Results:
Key member of the retail development team charged with securing over 185,000 SF of luxury fashion retailers.
Identified consequential conflicts with base building conditions and oversaw the design, pricing and approval of recommended modifications to ensure the retail shell was competitively positioned for Class A retail utilization.
Established systems to assure coordination of tenant plan reviews, landlord approvals and the construction of the retailers’ tenant improvements, exceeding retailer and owner expectations. From 2012 to 2014 (2 years) Washington D.C. Metro AreaSenior Vice President @ ● Ran a $5 billion commercial real estate portfolio consisting of 350 retail assets, within a CMBS platform, comprising 33 million square feet located throughout the United States. Had direct oversight and responsibility for the operations, management, leasing, and disposition of all assets with the goal of creating value and maximizing returns to the portfolio.
● Selected Results:
Built, led, managed, trained and mentored a team of retail REO and loan specialists overseeing asset management, leasing and disposition of the assets.
Developed an REO portfolio platform. Implemented systems and procedures to support the integration of a tidal wave of REO assets. Developed individual asset strategies and oversaw the approval, management, leasing, and capital expenditures for the assets.
Negotiated and executed a substantial volume of retail lease transactions after navigating through a complicated and layered CMBS review and approval process, adding substantial value to the portfolio. From 2009 to 2012 (3 years) Principal @ ● Specialized in REO workouts and consulting assignments for financial institutions and real estate owners for office and retail assets. Specifically designed and implemented stabilization strategies for challenged commercial real estate assets, including all facets of asset management: market evaluation, asset evaluation, budgeting, reporting, hiring and managing the leasing and property teams, designing and implementing repositioning strategies for value creation, stabilization and resulting disposition of the asset.
● Selected Results:
Built a successful consulting and advisory business focused on supporting lending institutions with REO assets.
Developed and implemented repositioning and stabilization programs for retail and office assets.
Advised developers on retail mixed-use strategies for projects in the planning, construction and leasing phases. From 2007 to 2009 (2 years) Vice President Leasing and Development @ ● Crafted and implemented the leasing strategy for over $1 billion dollars worth of office, retail and mixed-use assets. Designed and implemented strategic value enhancement property plans, including leasing strategies which involved physical improvements and market repositioning. Implemented strategic plans which resulted in new, renewal and expansion leases and the resulting physical repositioning in accordance with the overall value enhancement strategy for the properties. Responsible for the retail leasing and project management for CityVista, an 880,000 square foot mixed-use project in the urban core of Washington, D.C.
● Selected Results:
Created and managed an in-house brokerage department resulting in a new and meaningful profit center for the company.
Leased, repositioned and stabilized a $1 billion office and retail portfolio, achieving a 97% occupancy level.
Crafted the retail visioning of CityVista, creating one of the most successful mixed-use urban infill grocery-anchored retails centers in the District of Columbia.
Planned and executed the leasing and implementation of the retail component of CityVista, signing leases with Safeway, Results Gym, 5th Street Hardware, Busboys and Poets and Chevy Chase Bank. From 1997 to 2007 (10 years) Washington D.C. Metro Area
BS, Economics @ Hampden-Sydney College From 1979 to 1983 Real Estate @ The Johns Hopkins University Burr Ault is skilled in: Portfolio Management, Asset Management, Real Estate Economics, Due Diligence, Real Estate Development, Valuation, Investments, Real Estate Transactions, Dispositions, Financial Modeling, Financial Analysis, Investment Properties, Leasing, Real Estate, Commercial Real Estate
Websites:
http://www.cwcapital.com