14A — April 23 - May 20, 2021 — M id A tlantic Real Estate Journal
www.marej.com
P eople on the M ove
Stockton expands to meet needs of commercial real estate industry
Sean Cullen brings more than 30 years of experience M&T Realty Capital Corp. appoints managing director
Jovinelly stepped out of semi- retirement to fulfill a desire to help the real estate industry rebound from the crisis. In ad - dition, the Philadelphia native looks forward to working with the Stockton team, Immediately prior to joining Stockton in February, Brown spent seven years as property manager at Franklin Residential. “I learned everything - acquisi - tion, construction, renovation, refinance, development and ten - ant services. And nowwith Stock - ton, I can put that all into the expansion efforts here.” MAREJ Potentially protect yourself and your family by investing in multiple DST’s. This allows your 1031 equity to be diversi- fied over 100 to 300 million dollars worth of institutional quality real estate, instead of buying one 1-3 million dollar net lease property and having to actively manage it yourself. About Kay Properties and www.kpi1031.com Kay Properties is a nation - al Delaware Statutory Trust (DST) investment firm. The www.kpi1031.com platform provides access to the mar- ketplace of DSTs from over 25 different sponsor companies, custom DSTs only available to Kay clients, independent advice on DST sponsor companies, full due diligence and vetting on each DST (typically 20-40 DSTs) and a DST secondary market. Kay Properties team members collectively have over 115 years of real estate expe - rience, are licensed in all 50 states, and have participated in over $21 Billion of DST 1031 investments. Chay Lapin is president of Kay Properties and Invest- ments . MAREJ This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the con - fidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior investing. IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should con - sult your tax or legal professional for details regarding your situation. There are material risks associated with investing in real estate securities including illiquidity, vacancies, general market conditions and competition, lack of operating history, interest rate risks, general risks of owning/operating commercial and multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the en - tire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed. Securities offered through Growth Capital Services. Member FINRA/SIPC. Kay Prop - erties and Investments, LLC and Growth Capital Services are separate entities.
PHILADELPHIA, PA — Stockton Real Estate Advi- sors has expanded to meet the growing needs of existing and new customers affected by the economic stresses brought on by the COVID-19 pandemic. To expand services to cus - tomers, Stockton has added two members to their team. Alan Jovinelly is the new VP, receivership services. Mia Brown is now a property man - ager working with the property management group headed by Guy Pierce . Both joined Stockton in February. Another option for investors that are looking for a 100% passive investment is a DST (Delaware statutory Trust). A DST is an entity that can hold investment real estate struc- tured to take 1031 Exchange monies and after tax dollar investments. DST properties can be used as opposed to NNN properties but still providing access to net lease type prop- erties (FedEx, Amazon, Wal - greens, CVS and many others). • Potential Diversification – Don’t put all your eggs into one basket! It is important to note however that diversification does not guarantee protection against losses or guarantee profits. • You can close potentially on a DST in 2-3 days – helps to po - tentially reduce 1031 exchange closing risk. • Non-recourse financing with DSTs as opposed to partial and full recourse with NNN properties. • Back up – Use a DST as a backup ID in case your NNN deal falls apart. • DST as a home for leftover funds to cover your exchange and avoid boot. • Professional asset and property management in place. DST examples: DST # 1 A portfolio of 15 corporate backed FedEx distribution fa - cilities, Walgreens pharmacies and CVS pharmacies located throughout the country. DST # 2 A portfolio of 20 single ten - ant net leased properties to tenants such as CVS, Tractor Supply, McDonald’s, Advanced Auto Parts, Auto Zone, DaVita Dialysis, Dollar General and Dunkin Doughnuts. DST # 3 A single tenant VA Medical Hospital on a 20 year lease with the General Services Admin - istration (GSA) – The United States Government
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fordable housing originations and charged with establishing a New York City presence for the brand. Prior to this, Cullen held analytical, bond under - writing and production roles at several financial institu- tions, including Moody’s, RBC Capital Markets, and Barings Multifamily Capital amongst others. “Our customers will continue to benefit as we further grow our team and increase col- laboration between all parts of the bank,” said Jeff Rod- man , MTRCC’s ProgramMan - ager of the affordable housing platform. “Sean will be a true asset to the communities that we serve, bringing innovative structuring ideas from his breadth and depth of experi - ence in the affordable housing sector.” Cullen holds a Bachelor’s of Science in Business Ad - ministration from Villanova
University and a Master of Business Administration from Manhattan College. He also received a diploma from New York University’s School of Continuing Studies in Credit Analysis. Cullen’s appointment comes off a record-setting year for M&T Realty Capital Corpora - tion, particularly in the afford - able housing sector. The com - pany opened new affordable housing origination offices, hired three other director-level roles, and received the coveted Freddie Mac Optigo TAH Li - cense. The growth of MTRCC’s affordable housing platform builds new synergies between MTRCC and M&T Bank’s construction, bridge, and LI - HTC offerings. In fact, the company was recently nation - ally recognized for outstanding financial thought leadership affordable housing content by the Gramercy Institute. MAREJ
EW YORK, NY — Coming of f a very strong year of expand -
ing the com - pany’s afford - able housing finance plat - form, M&T Realty Cap- i t a l C o r - p o r a t i o n ( MT R C C ) h a s a n -
Sean Cullen
continued from page 2A Potential pitfalls of NNN properties . . .
nounced the appointment of Sean Cullen as a managing director. He will be respon - sible for originating affordable housing and multifamily loans across the United States and will be based in New York City. Cullen has more than 30 years of experience in multi - family and affordable housing finance. He comes to MTRCC from Lument, formerly Red Capital Group, where he was employed for the past two years as a managing director of af -
St. John Properties founder and Chairman Edward St. John named to Power 100 list
mitment to customer service, achievements in green build - ing, and top-rated workplace culture. Throughout St. John Properties’ 50-year history, the company has developed more than 21 million s/f of flex/R&D, Office, Retail and Warehouse space serving more than 2,500 clients in Maryland, Colorado, Louisi - ana, Nevada, Pennsylvania, Virginia, Utah, and Wiscon - sin. The company’s real es - tate investments exceed $3.5 billion. “The Daily Record has com - piled a who’s who list of indi - viduals who have demonstrat - ed long-term leadership and sustained success and who have provided philanthropic support throughout the State of Maryland. I am honored and humbled to be included among so many industry and community leaders,” saidd Ed St. John. “We have assembled an extremely talented, hard- working and loyal team at St. John Properties that I con - sider the best the commercial real estate industry has to offer, and I share this award with our entire organization.” Over $65 million has been donated and pledged through the Edward St. John Founda - tion, St. John Properties and Mr. St. John to more than 350
educational and non-profit organizations throughout the Baltimore and Washing - ton, D.C. metropolitan area. This includes $10 million to develop the St. John Teach - ing and Learning Center at the University of Maryland at College Park, where he earned an electrical engineer - ing degree. In recent years, Ed St. John was named the CEO of the Year by The Baltimore Busi - ness Journal in 2019, and was recognized as an Icon Honoree by The Daily Re - cord and earned entry in the Maryland Business and Civic Hall of Fame from The Balti - more Sun in 2018. St. John Properties was also awarded First Place 2020 Best Places to Work for Large Businesses by The Baltimore Business Journal and was the named national developer of the year by NAIOP, the commercial real estate professional trade association with more than 50,000 members, in 2018. St. John was the only com - mercial real estate profession- al to earn the highlighted Top 15 ranking. According to Tom Baden, editor of The Daily Re - cord, “this additional ranking was created to recognize the top of the top” in the overall list of 100 nominees. MAREJ
BALTIMORE, MD — Ed- ward St. John , founder and Chairman of St. John Prop-
erties, Inc. , h a s b e e n recogni zed by The Dai- ly Record in the publica- tion’s inau - gural “Pow - er 100” list. The “Power
Edward St. John
100” includes men and women across Maryland “who are shaping our businesses, gov - ernments, nonprofits, law firms and other critical insti - tutions.” St. John was named eighth in the overall list and was the highest-ranking com - mercial real estate executive to be recognized. The top three honorees were Mary - land Governor Larry Hogan, Maryland House speaker Adrienne Jones, and Mary - land Senate president Bill Ferguson. Nine profession - als, engaged exclusively in the commercial real estate industry, earned placement on the list. Founded in 1971 and head - quartered in Baltimore, St. John Properties is one of the Mid-Atlantic’s largest pri - vately held commercial real estate firms. The company is distinguished by their com -
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