6D — June 17 - July 21, 2022 — 30 Under 30 — M id A tlantic Real Estate Journal
www.marej.com
30 U nder 30
hat is your great- est professional accomplishment? Rittenhouse Realty Advisors, a member of GREA Douglas Sitt Co-Heads Rittenhouse Realty’s student housing platform W
deal we met with a family of- fice based out of Los Angles, while traveling for a business conference and they told us their acquisitions criteria. As soon as we got back, we put pen to paper and got them an off-market look at this Syra- cuse portfolio. They quickly jumped on the portfolio. This is a prime example of how lis- tening to a firms’ investment thesis allows us to connect the correct pieces to successfully close transactions. How do you contribute to your company and/or the industry? I contribute to RRA and the
student housing industry by exclusively focusing on student housing and staying knowl- edgeable about the student housing space. I work diligently to learn and be an expert in the student housing sector. My background is the princi- pal side of investing in student housing, so I’m able to commu- nicate and work with other stu- dent housing investment firms and think through student housing assets in a similar way. Speaking the same language really helps in connecting and working with these groups. Who or what has been the strongest influence in your career? Mentorship from my dad and Ken Wellar. I learned and con- tinue to learn the student hous- ing business from my father. He is an incredible mentor. Ken has also been an amaz- ing mentor to me. He has taught me the brokerage busi- ness and the value of a strong work ethic. I am very fortunate to work alongside and learn from both my dad and Ken. What unique qualities and or personality trait do you feel makes you most suc- cessful in your profession? I believe my ability to be per- sonable and explain discussion points in a well-constructed manner allows me to be suc- cessful in this field. This allows me to build strong relationships with my colleagues and per- sonal connections. What challenges and or obstacles do you feel you needed to overcome to be- come as successful as you are today? One of the obstacles I faced was gaining confidence that I could grow to be a leader and learning to be the lead on deals. At first it was a chal - lenge because my background was on the investment side, and I didn’t know how I was going to source business on the brokerage side. However, training under Ken’s wing gave me the ability to grow my confidence and knowledge of the brokerage business. What was the most defin - ing moment for you? Early in 2021, when I was able to source multiple deals for many of our student housing investors. This is when things began to take off for our stu- dent housing division because I finally had the confidence to tackle any challenge that came my way. MAREJ
Douglas Sitt Co-Head of Student Housing Rittenhouse Realty Advisors, a member of GREA Years with company/firm: 2 years Years in field: 6 years Years in real estate industry:6 years Real estate organizations/affiliations: Real Estate Licenses in PA and NY
My greatest professional accomplishment has been growing RRA/GREA’s stu- dent housing division from a boutique northeast student housing investment sales firm to a leader in the indus - try with a national presence, alongside an amazing team. Since joining RRA/GREA we have completed hundreds of millions of dollars’ worth of student housing transactions and are quickly becoming one of the leaders in the student housing investment sales
industry nationwide. What is your most no- table project, deal or trans- action? One of the most notable transactions was the Campus
Hill portfolio in Syracuse. We recently sold this portfolio for $65 Million. This was a scattered site portfolio that consisted of 51 buildings and single-family homes. On this
SOLD
SOLD
SOLD
267 UNITS / 715 BEDS STUDENT HOUSING PORTFOLIO UNIVERSITY OF SYRACUSE - SYRACUSE, NY
84 UNITS / 320 BEDS STUDENT HOUSING SUNY OSWEGO - OSWEGO, NY
92 UNITS / 350 BEDS STUDENT HOUSING TEMPLE UNIVERSITY - PHILADELPHIA, PA
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281 UNITS / 309 BEDS MARKET RATE / STUDENT HOUSING UNIVERSITY CITY - PHILADELPHIA, PA
84 UNITS / 260 BEDS STUDENT HOUSING PORTFOLIO LEHIGH UNIVERSITY - BETHLEHEM, PA
320 BEDS / 23 PROPERTIES STUDENT HOUSING PORTFOLIO BINGHAMTON UNIVERSITY - BINGHAMTON, NY
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300 UNITS / 780 BEDS STUDENT HOUSING STATESBORO, GA
107 UNITS / 348 BEDS STUDENT HOUSING MISSOURI STATE UNIVERSITY - SPRINGFIELD, MO
300 UNITS / 401 BEDS STUDENT HOUSING USF - TAMPA, FL
$300M+/- Student Housing Transactions Closed So Far in 2022.
Investment Sales Team
Home Office 107 S. 2nd Street, 4th Floor Philadelphia, PA 19106 ph. 215.454.2852 info@rittenhouserealty.com
Ken Wellar, Managing Partner Corey Lonberger, Managing Partner Luke DeLuca, Vice President Jeffrey Goldstein - NY BOR 9110168 Rodney Henson - FL BOR BK3514545
Douglas Sitt, Co-Head of Student Housing Mark Duszak, Director
Alan Krawitz, Senior Associate Jennifer Stein - GA BOR H66414
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