Denver State of the Market

Chad McWhinney has been a visionary leader in the real estate industry for more than 25 years. As Chief Executive Officer and Co-Founder, Chad is responsible for establishing the company’s purpose of creating great places for people and its promise of providing fabled experiences to its customers. Since 1991, McWHINNEY has developed and planned over 6,000 acres of land, and developed more than 10 million square feet of office, industrial, medical, retail, hospitality and residential properties, including more than 2,500 units of multifamily apartments. McWHINNEY currently has over $2.5B of assets under management. McWHINNEY is a fully integrated, diversified, real estate company that creates and owns, for the long-term, large-scale, multi-use projects, and develops, owns, and manages income-producing properties primarily for its own account. The company is evergreen, prospering in all phases of the real estate cycle and developing “win-win” business strategies. Chad has been named 9NEWS Leader of the Year by Colorado’s KUSA- TV, Bravo! Entrepreneur of the Year by Northern Colorado Business Report, Rising Business Star by Fort Collins’ Coloradoan and NAIOP Developer/ Owner of the Year. McWHINNEY and the Denver Union Station Alliance were honored with the prestigious 2015 Urban Land Institute Global Award for Excellence, and Chad also received a commendation from the Colorado House of Representatives for his work on Denver Union Station. He is a past chair of the Teach for America Regional Board of Directors, and previously served as a member of the Board of Directors for Downtown Denver, Inc., the Colorado State University System Board of Governors, the Board of Directors for the Poudre Valley Health System Foundation, National Association of Industrial & Office Properties (NAIOP) Colorado Chapter, Northern Colorado Economic Development Corporation, Centennial Bank of the West, Guaranty Bank & Trust Company, was a member of the Urban Land Institute and Colorado Forum, and the Denver International Airport Management Advisory Council. Chad’s personal mission is “to create a better world”.

The co-founder of Sage Hospitality, Walter Isenberg serves as the company’s President and Chief Executive Officer. Denver-based Sage Hospitality specializes in the operations, development and capital transactions of hospitality real estate. Sage Hospitality owns and operates hotels and restaurants in 26 states. Isenberg directs all company operations, including property management, real estate transactions and brand development. Isenberg co-founded Sage Hospitality in 1984 with partner Zachary Neumeyer. The company’s history in hospitality includes ground-up development, historic-adaptive re-use, acquisitions and third-party management. Sage hotels include well -known brands such as JW Marriott, Starwood Collection, Westin and Hilton, as well as several independent hotels. In 2006, Sage formed the Sage Restaurant Group, which operates unique high-volume restaurants inside its urban hotels.

Darryl Jones is responsible for the continued development and economic expansion of the airport’s real estate program on 17,000 developable acres. The program includes the transit-oriented communities at two on-airport, commuter rail stations, and the 1,500-acre commercial-use pilot program, ratified by voters in November 2015.

Over his 30 year career with Corporex, Mr. Banta has worked in nearly all functions of the company and in nearly all divisions. Through his tenure with Corporex, the company has built over 18 million square feet of commercial real estate including more than 40 hotels, 24 office buildings and 6 business parks. Mr. Banta serves on the Board of Directors for the Cincinnati USA Regional Chamber of Commerce. Previously, Mr. Banta served as a board member for Eagle Hospitality, a NYSE publicly traded hospitality REIT, from the time of inception until August 2007 when the REIT was sold in a market-based transaction. Mr. Banta is a graduate of Indiana University with a dual degree in finance and real estate administration.

As Chief Operations Officer (COO) of Matrix Group, Brad Cohen oversees the day-to-day operations of the company, including the property management, maintenance, accounting and marketing departments. In his role, Brad emphasizes process improvement and building a strong foundation within Matrix Group so the team can be at its most effective. His philosophy for operations revolves around developing an efficient, productive, and satisfied team: create a culture of excellence, recruit top talent, and mentor future leadership. Brad joined Matrix Group in September 2019 as COO. Prior to this transition, he spent sixteen years as Managing Director of Capital Markets for Transwestern. An integral component in his time at Transwestern was Brad’s leadership in the creation and launch of Transwestern’s Mountain Region Investment Sales Group, an entirely new business unit within the company. For this team he recruited, on-boarded, and mentored seven high-performing sales professionals who came to rank in the top five percent of Transwestern producers nationwide. In the interim between Transwestern and Matrix Group, Brad established his own company, Paper Clip, CRE, which promotes a product designed to increase efficiency for commercial real estate professionals. Born and raised in Colorado, Brad grew up in Littleton and received his Bachelor of Science in Business Management from the University of Colorado in Boulder. Brad is a licensed real estate broker in the state of Colorado.

Stina Kayser is a legal counselor, real estate development professional and corporate leader. Her skill in deal structuring, operational oversight, and team-building has been developed through both her legal practice and her experience as a company owner and operator. As an Urban Villages principal, she participates in all levels of company management and strategic decisions. As general counsel, she is an advisor to the board of directors and oversees all of the company’s legal activities, including real estate purchases, sales and financing; landlord tenant issues; investor and lender relations; entity and organizational structuring; corporate governance; risk management; and human resources. Ms. Kayser is the 2016 President of CREW Denver. She also serves on the Board of Directors of the Denver Police Foundation and Wild Seed Project. She is the recipient of the CREW Denver Women of Influence Award (2009) and the Denver Business Journal Outstanding Women in Business Award in the Real Estate Category (2016).

Celeste Tanner is the co-founder and chief development officer of Confluent Development. Bringing nearly 20 years of industry experience, she established the full-service real estate investment and development firm to bring a new vision of development within the industry to life. In her role, she steers the firm’s execution across all phases of real estate development, successfully delivering custom and complex projects that create significant value in their respective communities. Since the company’s inception in 2014, Celeste has overseen more than $1.5 billion in development projects across the organization’s diverse portfolio, consisting of more than 100 industrial, office, retail, mixed-use and senior housing development projects. Under Celeste’s guidance, Confluent has delivered award-winning projects and works with some of the country’s most sophisticated clients including Target, FedEx, Starbucks, Mikron Corporation, Vectra Bank, and Charter Communications, among others. In her previous role as director of real estate development at Opus Development Company, Celeste led the real estate project team for its Denver office and played a key role in the ground-up development of more than 5 million square feet of commercial and multi-family space. Celeste holds a B.A. from the University of Colorado at Denver, is an alumnus of the Downtown Denver Partnership Leadership Program, and has been awarded for her outstanding achievements from organizations such as The Denver Business Journal, CREW, NAIOP Colorado and Bisnow. Giving Back in Business and Community Celeste has represented the development industry both locally and nationally through her leadership in NAIOP, where she previously served as the chapter president for Colorado. Currently an executive committee member on NAIOP’s national board, she provides a voice for Colorado’s development industry at the national table. Celeste also contributes her leadership well beyond the industry and into the community. She serves on the board of Wheat Ridge Localworks, where she contributes her industry expertise to help implement the organization’s business and home improvement loan programs, among others, focused on enhancing the city’s economic vitality and neighborhood revitalization. Celeste also represents District I as a member in Renewal Wheat Ridge (RWR), an Urban Renewal Authority committed to improving the visual aesthetics and environmental aspects of Wheat Ridge, meanwhile adhering to the wants and needs of the community.

Heather Paduck is Chief Financial Officer at Northwood and is based in our Denver office. Mrs. Paduck has responsibility for all financial activities including financial reporting, accounting, tax, treasury and compliance. Prior to joining Northwood Investors, Mrs. Paduck was Chief Financial Officer of Pembroke Real Estate, a Fidelity Investments subsidiary based in Boston which manages over 7.5 million square feet in direct real estate investments in the United States, Europe and Asia/Pacific across the office, multi-family and retail sectors. During her tenure at Pembroke, Mrs. Paduck managed a global team located in Boston, London, Stockholm, and Tokyo, helping to more than double the portfolio since 2007. Heather was responsible for the finance, accounting and treasury functions within the managed portfolio, including capital structure planning and evaluation of tax, accounting and governance issues related to new transactions. In addition, she was responsible for financial planning and analysis, as well as accounting, operational and technology initiatives for Pembroke’s global offices. Mrs. Paduck moved to Pembroke from the parent company of Fidelity which she joined in 2003 as a Director of Corporate Accounting for FMR LLC. Prior to joining Fidelity, Heather spent six years at PricewaterhouseCoopers in their Chicago and Boston offices, managing financial statement audits for public and private real estate companies. Mrs. Paduck received a B.S. in Accounting and International Business from Indiana University and her M.B.A. in Finance at the Sawyer Business School at Suffolk University.

Harry has a rich background in seismic and structural engineering that encompasses a variety of project types. With more than 20 years of experience, he has worked for the commercial, institutional, and industrial sectors throughout the western United States, including Alaska and Guam. His project management experience includes seismic, rehabilitation, historic preservation, medical, educational, commercial, and industrial facilities, using a wide range of construction materials. In 2011, Harry moved from the Portland office to the San Diego office, and has been an important resource for DCI’s Southern California clients since then.

Cal Fulenwider III has been the President of LCF Inc. for more than 25 years. Fulenwider has had the key role in the strategic planning, development and management of approximately 7,500 acres surrounding Denver International Airport(DIA). Prior to developing projects in the DIA area, Fulenwider was the Venture Manager for the 500,000 square foot Chase Bank building in downtown Denver and has oversaw the development and management of numerous high-end residential projects, including Polo Club North, Polo Club North Homes and Polo Field West, and Larimer Place Condominiums. Fulenwider is a founding member of the CU Real Estate Council and the DIA Business Partnership, now the Metro Denver Aviation Coalition, and he obtained a bachelor's degree in Real Estate from the University of Colorado.

WALTER A. (BUZ) KOELBEL, JR. is president of Koelbel and Company, one of the longest continually-operating real estate companies in Colorado. The company’s efforts are focused on development of office parks, master-planned residential communities, urban in-fill homes, low-income tax-credit apartments, and real estate investments. Projects include: The Preserve at Greenwood Village, Pinehurst Country Club, The Breakers, Centennial Valley Business Park, and Rendezvous in Winter Park. New company platforms include Koelbel Urban Homes, LIHTC development, and Catalyst in RiNo. Koelbel is a native of Colorado and graduated from the University of Colorado in 1974 with a degree in finance. His professional memberships include the Urban Land Institute, Denver South Economic Development, Colorado Council on Economic Education, and Denver Museum of Nature and Science.

Born in Denver in 1937, Mickey Zeppelin has seen the city grow from a western town dominated by streetcars and 75-foot high building limits to the modern city that we see now. As a young man, Zeppelin had a brief stint in the US Coast Guard and practiced law until 1972, when he entered into real estate development full time. In the 1980’s he founded Zeppelin Development with the primary purpose of developing strong and dynamic repurposed urban projects in Denver. With a keen eye for his surrounding environment and a vision for what his city could be, Zeppelin began transforming districts with limited potential into neighborhoods, workspaces, and active and engaging communities. Serving on various boards and steering committees, Zeppelin has had a hand in many urban renewal projects across the city, including TAXI and The Source in RiNo.

Kyle Zeppelin is recognized as an innovative developer of communities in the urban core of Denver. Over the past decade, Kyle’s focus has been on transforming the underused, former industrial area of River North (RiNo) into a mixed-use neighborhood. Kyle has received recognition and multiple awards for his work at TAXI and The Source, and has successfully leveraged these projects into additional fronts in RiNo. TAXI has grown from what was originally an eight-acre site, to what is now a 28-acre mixed-use site complete with 9 buildings, over 100 businesses and over 100 residential units. Kyle’s vision for The Source market hall has expanded with the addition of a hotel. The Source Hotel will feature 100 design-forward hotel rooms, an expanded 25,000-square-foot market hall featuring signature restaurants and retail shopping, New Belgium Brewing’s first Denver brewery, and an eighth-floor rooftop complete with a pool, bar, and unobstructed mountain and skyline views.On a community level, Kyle’s broader social efforts are directed toward improving pedestrian and bike infrastructure and connectivity, advocating for the reclamation of the South Platte River in RiNo and meaningful design in Denver’s built environment. Kyle currently works closely with Comal Heritage Food Incubator (Comal) and Project VOYCE, both located on TAXI. Comal, operated by non-profit Focus Points Family Resource Center and in partnership with Zeppelin Development, provides women entrepreneurs from Globeville, Elyria and Swansea with culinary arts, business and language skills in addition to serving up some of the most authentic Latin American and Syrian cuisine in Denver. Project VOYCE is a non-profit organization that provides leadership programs for students in the underprivileged sectors of Denver and teach them how to combat challenges in their communities.

Carl Koelbel is currently working at Koelbel & Company where he carries on a three-generation tradition of real estate development in the Denver Metro area. His primary focus is on development of land currently held by the firm as well as identifying and securing future development opportunities. Additionally, he started the Koelbel Urban Homes division which focuses on developing for-sale, infill homes. He also works extensively developing affordable housing in Colorado. In just over 9 years Koelbel and Company will have delivered close to 700 units of affordable housing in nine different projects with more to come. He also manages major projects for Koelbel including the Catalyst office building along Brighton Blvd. and the redevelopment of Regatta Plaza in Aurora. Carl received his Master of Business Administration with a concentration in Real Estate and Finance from the University of Colorado in Boulder. Before receiving his M.B.A., he was a Research Associate at the Urban Land Institute in Washington, D.C. At U.L.I. he assisted the Senior Resident Fellows in various research projects with a focus on infrastructure and its effect on land use patterns. He has a B.A. in Economics and International Relations from the University of Southern California and is an avid skier, golfer, and tennis player. He is always thankful of the support of his wife Fallon and three children, Harper, Reagan, and Presley.

Bryce Hall is an accomplished architect and executive with more than 20 years of experience in residential architecture. As the President of KEPHART, he guides the strategic vision and direction of the firm, providing support for eight additional Principals who help drive KEPHART’s success. Bryce’s contagious passion and deep knowledge of the industry inspires his peers to pursue continuous growth and education. Bryce attended the University of Colorado, where he earned master’s degrees in both architecture and business administration, allowing him to understand the industry more comprehensively, from the perspective of both an architect and a developer. His enthusiasm for these two interests, combined with his deep understanding of client needs throughout the duration of a project, have helped solidify KEPHART as the architect of choice for many national developers. Bryce’s exemplary leadership has earned him recognition as one of ENR’s Top 20 Under 40 AEC Professionals in the Mountain States Region and President of one of Denver’s Best Places to Work. He also represents and shares KEPHART’s thought leadership on a national stage at events like the National Multifamily Housing Conference and the Pacific Coast Builders’ Conference.