Charlotte State of the Market

Stuart Proffitt is a co-founding partner of Proffitt Dixon Partners, a multifamily development and investment firm with a focus on Class-A apartment communities in the Southeast. The Charlotte, North Carolina based firm has closed transactions valued at over $500 million since 2008 and has an active development pipeline in North Carolina, South Carolina, and Tennessee. The firm also acquires and develops self-storage facilities, currently 4,000+ units and 500,000 sf of self storage projects are under way or owned. The Proffitt Dixon team has over 50 years of combined urban residential, mixed-use, multifamily development and investment experience in the Carolinas, Florida, Georgia, Alabama and California. The team’s experience spans from the development of high rise urban projects to suburban multifamily, apartment acquisitions as well as value-add investments. Throughout their careers, the partners have developed more than 7,900 multifamily units valued at greater than $1.6 billion. Prior to forming Proffitt Dixon Partners, Stuart was the vice president of mixed-use development at Pappas Properties in Charlotte, North Carolina and the director of development for Champion Development Group in Los Angeles, California. Stuart graduated from North Carolina State University, and earned his Master of Business Administration and Master of Real Estate Development from the University of Southern California.

Brian Leary joined Crescent Communities as president of its commercial / mixed use business unit in 2014. In this role, he directs the company’s office, industrial and retail developments and property management across the country. With 17 years of experience in commercial real estate and development, he specializes in large and small-scale, mixed use holdings. Prior to joining Crescent, Brian held senior management and executive positions with Jacoby Development, Inc., Atlanta Beltline, Inc., AIG Global Real Estate, Atlantic Station, LLC and Central Atlanta Progress. While at Jacoby Development, a national developer of corporate, mixed-use and retail projects, he was the driving force behind ONE Daytona, a 4.5-million square foot joint venture with International Speedway Corp. As vice president of AIG Global Real Estate, he oversaw the design and development of Atlantic Station, a 13.5-million square foot joint venture that, at the time, represented the largest urban brownfield redevelopment in the United States. Previously Brian served as president and CEO of Atlanta Beltline, Inc., the organization planning and executing the implements of the BeltLine, one of the country’s largest, most wide-ranging urban redevelopment projects. Active in the industry and his community, Brian served on the Board of Trustees of Leadership Atlanta and the Urban Land Institute’s Livable Communities Coalition Council as well as the Governing Board of Atlanta Medical Center. He is a national author and speaker on topics including real estate trends, sustainability and transportation for the Urban Land Institute, United States Congress, Harvard University and others. Brian graduated from the Georgia Institute of Technology with a bachelor of science in architecture and a master’s degree in city and regional planning.

Darlene Heater is the executive director for University City Partners, which envisions and implements strategies and actions to drive University City’s long term economic vitality as a center for employment, living, education, commerce and entertainment. Heater is a graduate of The Ohio State University. She has held roles in the public sector for nearly twenty years. Prior to joining University City Partners, she was the Vice President of Neighborhood Development and Sustainability at Charlotte Center City Partners and Director of Strategic Partnerships for Charlotte Mecklenburg Schools. Heater has worked on transformational projects such as the Charlotte 2020 Vision Plan, which serves as the blueprint for development for Center City, Envision Charlotte, Uptown’s sustainability initiative, and South End’s Good To Great vision plan. She has built strong relationships with municipal partners at all levels and elected officials while actively engaging in the communities she has served. Originally from Kent, Ohio, she has resided in the University area for seventeen years with her husband and their two children. Both of their children have ties to UNC Charlotte. Their daughter Lyndsay is an UNC Charlotte Bioinformatics grad student alum and their son Nicholaus is an undergraduate student.

Cooper is a member of the Senior Management Team and Co-Director of the Southeast Region. Cooper has more than 25 years of commercial real estate experience as both a finance professional and investor. Prior to its combination with Bellwether Enterprise in June of 2015, Cooper was President and Co-Owner of Capital Advisors, Inc., a mortgage banking firm headquartered in Charlotte with eight offices throughout the southeast, $20 Billion in transaction history and a $1.75 Billion servicing portfolio. Cooper had been with Capital Advisors since the firm’s inception in 1994. Prior to Capital Advisors, Cooper was with First Union Mortgage Corporation (formerly the Cameron Brown Company). During his career, Cooper has originated more than 475 transactions totaling more than $3.25 billion and has been the recipient of numerous production awards, including being named the top mortgage banker in the country for multiple insurance companies. In addition to his responsibilities at Bellwether Enterprise, Cooper is President of Atlantic Beach, Incorporated, a 70-year-old real estate investment company.

Zach is the co-founder and Chief Investment Officer of Pender Capital. Zach co-founded Pender in 2015 and brings over 16 years of experience in both commercial real estate finance and capital markets expertise. Zach oversees the firm’s Investment and Research program which includes deal sourcing, research, and structuring and is a member of the Investment and Research Committee and the Management Committee. Prior to Pender, Zach served as Managing Director/ Senior Vice President for Liberty SBF, a commercial finance company based in Philadelphia, where he was responsible for establishing Liberty’s Western Regional HQ in Los Angeles and directed West Coast originations and operations. Zach personally originated over $60 million of commercial loans during the first year of operations on the West Coast. In 2008, Zach joined Silver Point Capital, LP in New York, a Goldman Sachs partner fund, where he was responsible for commercial real estate loan originations and insurance-linked securities trading. During his tenure at Silver Point, Zach traded more than $500 million in distressed commercial real estate debt, insurance-linked securities, and assets in the capital markets. From 2004 to 2008, Zach served as Senior Vice President/Division Director of Velocity Commercial Capital where he was the company’s highest grossing originator in e

As Director of Analytics for Costar, Paul oversees creating compelling data and analysis to enhance the visibility and understanding of the Dallas-Ft. Worth market. He analyzes corporate real estate trends and market dynamics, leveraging that knowledge proactively for thought leadership content, strategy, business development efforts, and client decision making. He has an extensive background previously serving as Director of Research of the Carolina for JLL, Economics Account Executive for IMPLAN, Director of Research for the Charlotte Chamber, Independent Economist, Adjunct Professor of Applied Economics at the University of North Texas, and Director of Research for the Dallas Regional Chamber. As the Founder Hendershot Economics, Paul had the opportunity to define the Life Sciences industry for BIOCOM, amongst other projects in the Greater San Diego region, with research being highlighted in the Wall Street Journal, San Diego Union Tribune, and NPR. In addition to Paul’s research experience, he served in the US Air Force as a communications specialist, where he held a top secret security clearance. He worked in Presidential Communications while stationed in D.C at Andrews AFB and also served at RAF Croughton, England for three years. He also volunteered to take part in Operations Joint Endeavor (IFOR) in Bosnia. While in the Air Force, Paul attended the University of Maryland and studied Sociology at the University of North Texas, receiving his B.A., graduating cum laude. He soon began his graduate work in Applied Economics at the University of North Texas, receiving his M.S in 2006. Outside of work, Paul is an avid aviator, enjoys traveling, and reading.

Michael Fallon joined the firm in 2012 and is responsible for developing and executing The Fallon Company’s growth strategy through acquisitions of real estate, development, and investment. As CIO, Michael leads the evaluation and capitalization of the firm’s national real estate portfolio by overseeing development and asset management activities, as well as all risk management efforts. Previously, Michael served as Senior Vice President of The Fallon Company and as a Materials Expediter for Turner Construction of Boston, Massachusetts. During his tenure at Turner he was involved in the scheduling, fabrication, and construction of all major structural components of commercial construction projects. Michael a trustee of The Fallon Company Charitable Foundation and holds a Bachelor of Arts degree in International Relations and European Business and Economics from Boston University, a Masters of Science in Finance from Bentley University and a Masters of Science in Construction Management from Wentworth Institute of Technology.

For over a decade Wes has been focused on market analysis, site selection, brand selection and entitlements for new hotel development, culminating in the completion of over 30 transactions. Many of these projects are notable for mixed use, urban settings and deal complexity. More recently, Wes is focused on developing our third-party hotel management and development services for owners, investors and developers. When he’s not working, you will likely find Wes on a tennis court participating in the numerous leagues around Atlanta or having fun with his wife, Debra, and their three children and three grandchildren.

Rich is from Pocono Lake, Pennsylvania and moved to Myrtle Beach, SC for College to pursue a career in Golf. He has an Associates Degree in Business and Golf Complex Operations and is a Class A PGA Professional. Rich spent 7 years in the golf industry before he began a career in Sales which led him to starting his own business called Oneliance Group in Charlotte, NC. Oneliance is a construction arm for general contractors building multifamily, hospitals, hotels, schools and more. Rich grew Oneliance to be a million dollar company in 2014 his first year in business and did over $6.5 million in 2016 his third year in business before selling it February of 2017. Rich also owns Two Scoops Creamery (with two friends) which opened their first location in 2016 and their second location in 2017. Rich also majority owner of Hoppin' with a friend which is Charlotte's first self pour beer and wine tap room located in Southend Charlotte. Besides starting and selling businesses Rich is also active in Real Estate as he owns four residential properties in SC, PA and NC and one commercial property as well as sold a residential property in Charlotte in 2015. Rich is still an avid golfer and still plays basketball weekly to stay active. Rich is in the process of growing Two Scoops Creamery and Hoppin' as well as his Real Estate portfolio.

Brad leads a team of architects and designers dedicated to design. With more than 20 years of experience in design and construction, Brad’s diverse body of work includes civic, commercial, hospitality, retail, residential, and workplace commissions that have garnered regional, national and international attention. This significant level of experience has helped him form an expertise in design and the ability to realize this vision in meaningful architecture.

As Managing Partner of Stream Realty Partners' Charlotte office, Daniel oversees all operating functions. This includes project leasing, tenant representation, development, acquisitions, and management services, along with further expansion of the firm's presence throughout the Charlotte market. Prior to the formation of the Charlotte office, Daniel played an integral role in the establishment and growth of the firm's Austin office, where he was a consistent top producer. Over the past ten years, Daniel has acquired numerous accolades for his transactions and expertise as a leasing agent and tenant representation broker, including Costar 'Power Broker' recognition, 2005-2012 and the 'Heavy Hitter' title from the American Business Journal, 2005-2012.

Cristi Lewis is an audit partner based in CohnReznick’s Charlotte office. She is a member of the firm’s Construction Industry Practice. Cristi has more than 15 years of public accounting experience encompassing financial statement audits, accounting, business consulting, agreed upon procedures engagements, regulatory compliance and benefit plan audits. Her industry experience includes construction contractors, commercial real estate, residential multi-family housing, and governmental agencies (including PHAs). She has also worked with many small business clients. Throughout her career, Cristi has been tasked with planning and performing audit, tax, and agreed upon procedures engagements while also providing training, supervision and work reviews for audit associates. She has extensive experience planning and executing audits in compliance with GAGAS, HUD audit guidelines, and OMB A-133. Her real estate and construction industry experience includes commercial and multi-family residential, land development, specialty contractors and property management. She has also worked extensively on due diligence engagements for an SEC client relative to the acquisition of contractors across the country. Education: B.S., Accounting – University of North Carolina at Charlotte.