Steven Sheldon

Summary

I am a Commercial Real Estate professional with 15 years of broad based experience in increasing asset value and cash flow to investors.I am highly skilled in all aspects of acquisition, asset management and disposition, including enhancing investor relations throughout.I am adept at directing attorneys, CPAs, leasing agents, sales brokers and property managers to accomplish goals.

Objective

Turbulent economic times create extraordinary opportunities.  I am seeking to join a group with the attitude, skills, knowledge and resources to capture these opportunities.  I can create high value in the acquisition of distressed commercial loans and properties, the restructuring of these assets, and their profitable disposition. 

Work History

Work History
2001 - Present

Senior Director

Diversified Equity Investment Corporation

The DEIC portfolio consists pimarily of shopping center assets, both wholly company owned and owned in partnership with other equity investors, located throughout the western U. S. and Hawaii.

Acquisitions

  • Coordinate shopping center acquisitions totaling over $500,000,000
  • Negotiate purchase contracts to minimize purchase price and maximumize buyer flexibility
  • Direct extensive and rapid due diligence (little as 21-day look), including review and approval of critical items
  • Secure favorable conduit and bank financing totaling over $480,000,000, with aggressive LTC
  • Negotiate price reductions or contract extensions when necessary

Asset Management

  •  Identify value-add opportunities for each assest, as well as portfolio wide 
  • Create aggressive business plans to maximize cash flow and asset value
  • Proactively lead property managers and leasing agents to meet goals
  • Expedite rehab and construction activities, including dynamic cost management
  • Ensure tax planning is intreral to the business plan (cost segregation, capitalization of special allocations, property tax challenges)

  Investor Relations 

  • Negotiate partnership terms to maximize sponsor equity and cash flow, including sweat and fees
  • Create partnership agreements to ensure sponsor flexibility and control
  • Craft sophisticated ownership structures, including multiple TIC structures
  • Direct preparation of PPMs as needed
  • Proactively cultivate investor relationships, resolving concerns as needed
  • Review and approve investor distributions

 Dispositions

  • Successfully disposed of properties valued at over $275,000,000, with average annual increase in value of 38%
  • Advise on optimal timing of dispositionsPosition asset for maximum sale price
  • Negotiate purchase contracts to maximize seller position and ensure high closing probability
  • Ensure buyers conform to contracts and close on time
  • Coordinate 1031 activities (set up accommodator accounts, identify uplegs, assess REVPROC constraints)
1999 - 2000

Credit Officer – Bridge Loan program, all product types

FINOVA Realty Capital

·Thoroughly reviewed borrower and property due diligence

·Proactively crafted solutions to ensure approval

·Presented detailed loan requests to credit committee

·Diligently shepherded loans through the legal documentation and closing process

·Successfully funded over $455,000,000 in Bridge and Mezzanine financing

1996 - 1998

Senior Loan Underwriter - Conduit Loan program

FINOVA Realty Capital

 ·On 3-person team which successfully funded over $500,000,000 in conduit loans

·Analyzed property and borrower data to determine risk

1993 - 1995

Commercial Investment Sales Agent

Primarily focused on the sale office, industrial and retail properties

·Specialized in disposition of foreclosed assets, representing the FDIC, RTC and major banks

·Created and presented persuasive listing proposals to win each assignment

·Prepared powerful marketing plans and materials to locate and position prospective buyers

·Successfully closed over $121,000,000 in investment sales

Education

Education
1990 - 1992

BS

Focus on  Real Estate & Finance