MS Development Holdings, LLC
Project Restructuring & Recapitalization Advisory to Lenders and Investors
Advisory Team
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BIO
Mr. Makebakken is the owner of MS Development Holdings, LLC, a full service development company headquartered in Phoenix, AZ. MS Development Holdings LLC has 12 entity LLC's under its management umbrella.
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Mr. Makebakken has managed over $300 million on a managed account basis for private investors in more than 25 holding companies and limited liability corporations. He is a 25-year veteran of the real estate and construction industries, with experience directing all disciplines associated with the management and execution of real estate based businesses. Mr. Makebakken began his career as a general contractor specializing in retail construction. In his career he has constructed and personally managed the construction of Class A office, industrial flex office and distribution buildings, retail buildings and low-rise hotels. Mr. Makebakken offers a construction oriented approach to the real estate development process: a contractor's logical approach with a developer's creative 'deal-structuring' ability.
Mr. Makebakken has successfully constructed and developed over 500 commercial buildings over the past 25 years, with a construction value of more than $100 million. He maintains a proven and fortified alliance with many national and regional credit tenants. Mr. Makebakken also has several institutional and national lending relationships, all of which are an integral part of the Partnership's ability to secure needed financial backing on mutually beneficial assets. In 25 years, Marc has preserved investors' principal and has consistently produced average annualized IRR's of 13-15 percent and an average ROI of 175 percent.
Mr. Makebakken has sat on several boards in his career including, International Council of Shopping Centers (ICSC) regional Board of Directors, National Conference of Community and Justice (NCCJ) and the Leukemia Society of America. Mr. Makebakken is presently an Advisory Board Member of Goldwater Bank based in Scottsdale, Arizona -
BIO
Mr. Cecil has 30 years of real estate experience as a principal and intermediary in commercial, residential, hospitality and retail property in the major U.S. metro markets including extensive experience in restructuring and repositioning properties.
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Mr. Cecil has completed hundreds of real estate transactions involving many billions of dollars of property. He has been called upon to serve as an expert witness and has held senior management positions in both public and private companies engaged in real estate ownership, finance and development.
Mr. Cecil completed both his undergraduate and graduate work at Columbia University, receiving a B.S. (economics) and an M.B.A. (finance). Mr. Cecil served as Managing Director of Barrington Equities, LLC, a developer and owner of multi-family and commercial property in Manhattan and elsewhere. Beginning as a consultant in 1998, Mr. Cecil became the number two executive (C.O.O.) to the company's owner, acquiring, developing, managing property in Manhattan. The company's most recent project, Greenwich Place Condominium (NY, NY) sold out for $70,000,000 in 2008, providing superior returns to investors.
In 2001 Mr. Cecil and a partner created a new financial guaranty insurance product and, partnering with Castle Point Holdings, Ltd, founded a new insurance company, INSURENTsm. INSURENTsm provides the first institutional guaranty to apartment renters to enable them to secure the apartment they seek. From 1994 to 1997, as Managing Director of Granville International (New York, NY), Mr. Cecil was an advisor to investors and property owners including China Investment Bank (PRC) on acquisitions, financing and leasing in the U.S., completing transactions with LVMH and Casio among others. From 1991 to 1993 Mr. Cecil was Senior Vice President of Banca Commerciale Italiana Capital Corp (New York and Milan) and was responsible for the start up of its global cross-border acquisitions/financing advisory. From 1989 to 1991 Mr. Cecil was Managing Director of Cecil, Evans Partners (New York, Chicago, Los Angeles) where he co-managed this real estate consulting firm advising, among others, the Saudi Royal Family on acquisitions in the U.S. Key transactions included the acquisition of a Marina Del Rey, CA portfolio of 3 hotels, 3 multi-family properties, two retail centers, commercial office building, marina facilities with 1100 boat slips and 2 development sites. From 1987 to 1988 Mr. Cecil was a merchant banker as a Managing Director of Hong Kong based Asian Oceanic Group and President of Asian Oceanic Real Estate Corporation. Transactions included mezzanine financing to acquire and develop the Hoboken Shipyards (NJ), The Charlestown Navy Yard (Boston) and the acquisition of over 30,000 hotel rooms, creating one of the world's then largest hotel companies. In 1985 and 1986 Mr. Cecil was a consultant, providing acquisition and financing advisory services to The Travelers Companies, Davis, Kahn Investors and Vanguard Investors.
From 1980 to 1985 Mr. Cecil served in various posts at Royal Business Funds Corp. (ASE & NASDAQ), a real estate investment company with assets in major metro areas in eight states including New York, Florida, Connecticut, Massachusetts, Colorado, New Jersey and North Carolina and Pennsylvania. Mr. Cecil began as an Asset Manager and rose to become Executive Vice President and C.O.O. of the parent company and President of all subsidiaries. Royal had equity and mezzanine investments in over 2,000,000 sf of commercial office, multi-family residential, SFH residential, retail, hospitality and resort property which Mr. Cecil restructured, refinanced, joint ventured, developed and sold. After completing business school, Mr. Cecil joined Bankers Trust Co. in New York, completing the executive credit training program and working in Mergers and Acquisitions.
Mr. Cecil is affiliated with Urban Land Institute (ULI); Institute of Real Estate Management (IREM); Columbia Graduate Business School Ambassador. Co-Founder, Columbia Real Estate Association. Board Member, Concerned Residents of North Salem. -
Paul currently serves as Chief Executive Officer of Capital C Ventures. He previously was the CEO of Residex, one of the oldest venture capital firms in Holland.
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Prior to Residex, in 1987 Paul co-founded Intercaptital Investments, InterCrown Investments BV, a venture capital and private equity firm. Under his management, with total assets of NLG 200 million in three funds, Paul initiated one of the first corporate venture capital programs in Holland, an ICT fund for KPN. Principal investors included Royal Dutch KPN and it's Unisource Partners (Swiss Com, Telia, et al). As one of the founding partners of Intercapital Investments, InterCrown Investments BV Paul was instrumental in establishing strong, well connected Non-Executive and Advisory Boards.
Earlier Paul held several senior level investment management positions at NMB Bank (INK NV) where he began his business career in 1979. During his tenure, the company managed capital of approximately NLG 1,2 billion and realized various exits including: Pie Medical Systems BV, PM Conveyer Systems BV, Content Uitzendburo's, De Reus Liften BV, Sligro BV en Dico Bedden.
Paul is a graduate of Polytechnic, Haarlem/the Netherlands with a Degree in Business Administration and the University of Utrecht, the Netherlands.
Since 2001 Paul has served as Vice Chairman of the Dutch Venture Capital Association where he held the position of Chairman of the Board from 1999-2001. He also serves as a member of the Non-Executive Board of the following companies: P3 Technology Partners BV, Life Sciences Partners BV, Euroventures Holding BV, SNT Holding BV, Nedgraphics Holding BV, Kinetron BV, Pennsylvanian Partnership for Economic Education, Philadelphia (US).
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BIO
Beyond his CPA experience with a big four public accounting firm, Jeff has broad experience in the operational and development aspects of fast growing real estate investment companies as well as the intricacies of specific property re-structuring and financing. Jeff has been successful in partnering finance and reporting with operations to drive long-term gains in business performance, revenues, company value and bottom-line profits. As a CFO, strategic planner and problem solver, Jeff brings highly developed negotiation and transaction skills that compliment those of the other team members.
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Mr. Pietsch has been a dedicated construction and real estate industry professional for over 26 years. This experience encompassed all aspects of development, general contracting and national retailer representation.
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In the real estate development realm, Mr. Pietsch has completed multiple millions of square feet of residential and commercial projects, valued in excess of $100,000,000. During this time, Mr. Pietsch has gained the expertise and knowledge of all development aspects from project conception and entitlement to construction, leasing and stabilization.
In addition to his involvement for a number of years in general contracting, Mr. Pietsch brings a unique capacity to the team: being a former contractor he adds in-house capabilities to determine all aspects of construction costs and timing. Prior to joining the Partnership, he served as a Regional Director of Acquisitions for Hollywood Video in California. -
Mr. Pollard joins MS Development Holdings, LLC. after spending ten years at the institutional level working on the principle side of commercial real estate.
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Mr. Pollard has acquired over 2 million square feet of assets with values exceeding more than $200 million on behalf of an investment grade rated institutional buyer with a national platform, and offices in Southern California. He is a 10-year veteran of the real estate and construction industries, with experience directing acquisition, development, repositioning, leasing, and portfolio management disciplines. Mr. Pollard began his career ten years ago at the institutional level, and in 2005 founded a real estate investment and advisory company focused on value add real estate asset investment, construction, and construction management specializing in industrial construction to help compliment his institutional background. In his career he has acquired, and repositioned and personally managed industrial flex office and distribution buildings. Mr. Pollard offers an acquisition and value add approach to the real estate acquisition process.
Mr. Pollard has successfully acquired and re-developed close to 30 commercial buildings over the past 10 years, with a market value of more than $200 million. He maintains a proven track record, and established relationships with many national and regional professionals considered experts in their field. Mr. Pollard also has several institutional and national lending relationships, all of which are considered assets to the Partnership's ability to develop a strong, and valuable pipeline of assets. In 10 years, Hamilton has preserved investors' principal and has consistently produced actual annualized IRR's of 18-19 percent, gross sale proceeds of close to $90 million, and economic gain for the portfolio of close to $16 million. -
Mr. Hollihan has over 30 years of investment and corporate banking and investment experience, specializing in investment and advisory work, both in the US and globally, regarding cash flow/revenue based limited or non-recourse companies or investment entities and their capital structures and financing.
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Much of Mr. Hollihan’s career was spent as a managing director at Morgan Stanley (New York and London), where he was head of global project and asset based finance and leasing, together with a number of related responsibilities, and was a member of the MSIIB Operating Committee. In that capacity, he structured and managed $45+ billion in asset based and structured financings and leasing arrangements, and was responsible for both corporate strategic and capital structure advice again across a variety of industry sectors.
Mr. Hollihan then became the head of European industry investment banking for Banc of America Securities (“BAS”), where he was a member of the BASL European Capital and Operating Committees and Board, and where he had responsibility for both the EMEA investment banking activity across a variety of industry sectors as well as BAS’ EMEA loan book of $20+ billion, much of which involved limited or non-recourse borrowing entities, rather than full corporate or integrated credits.
Mr. Hollihan is currently the lead independent director of City Financial Investment Company Limited (London), a $500MM+ AUM privately held equity and fixed income asset manager in the UK that is the umbrella ADC for eight separate funds, Executive Chairman of Litchfield Capital Holdings Inc., which provides financial institution clients both investment management and advisory services, and a trustee of Armour Residential REIT (“ARR”), a n NYSE-listed Agency MBS REIT. He is a former trustee of American Financial Realty Trust (NYSE: “AFR”), which was founded in 2004 and sold in late 2007 in a combined majority cash/stock transaction to Grammercy Capital Corp. There, he served on the Investment/Finance and Audit Committees.
Mr. Hollihan received B.S. (Wharton) and B.A. degrees from the University of Pennsylvania, and a J.D. from the University of Virginia School of Law.