Denholtz Properties, a Pink Financial institution, N.J.,-based industrial actual property funding and improvement agency with $2 billion in belongings beneath administration, has tapped business veteran Katie Kurtz as its new CEO.
Kurtz, most not too long ago co-chief funding officer & chief monetary officer for Silverstein Properties, can be a part of the agency’s management crew with former CEO Steven Denholtz assuming the function of chairman and present President Stephen Cassidy serving as managing associate.
In her function as CEO, Kurtz will oversee the strategic refinement of Denholtz Properties’ operational platform to capitalize on rising industrial actual property funding alternatives nationwide.
She has greater than 20 years of institutional actual property, capital markets and funding expertise. At Silverstein, her tasks spanned the New York-based agency’s portfolio of greater than $10 billion in industrial, residential and retail house in addition to its improvement platform and lending enterprise. Previous to becoming a member of Silverstein, Kurtz was an government vp at AR World and held management roles with The Carlyle Group and New Mountain Finance Corp. A Licensed Public Accountant, Kurtz obtained bachelor’s and grasp’s levels in accountancy from Wake Forest College.
Capitalizing on alternatives
Kurtz advised Industrial Property Govt that Denholtz Properties has achieved notable success in rising its platform throughout the Northeast and Southeast lately.
“We consider there are vital alternatives to capitalize on this momentum by persevering with to develop inside each areas,” Kurtz mentioned.
Denholtz Properties has been increasing its multifamily investments lately. Requested whether or not she anticipated that to proceed or whether or not different sectors could be riper for funding in 2025 and past, Kurtz mentioned diversification has been a key driver of the corporate’s success.
“Whereas we actively pursue alternatives to develop out multifamily portfolio, we stay equally optimistic about different complementary asset courses, comparable to multi-tenant small-bay industrial,” she mentioned.
Regardless of sluggish market situations which have resulted in elevated capital prices and made it tough to realize goal returns, Kurtz mentioned the multifamily and industrial sectors have remained resilient and supply alternatives for strategic buyers to behave.
Kurtz famous the Federal Reserve’s 50 foundation level fee lower this week “gives renewed optimism going into 2025.”
She mentioned because the discount was bigger than anticipated, there might be an “earlier improve in purchase/promote and refinance/recap exercise in 2025, in comparison with earlier forecasts based mostly on the beforehand anticipated 25-basis-point lower.”
Final December Denholtz Properties launched the Denholtz Alternative Fund II geared toward providing options for CRE operators dealing with momentary capital disruptions through the unsettled capital markets surroundings. The fund targeted on providing “rescue capital” within the agency of most well-liked fairness or mezzanine debt, offering proceeds of $5 million and $25 million per challenge, subordinate solely to first mortgage debt.
Kurtz mentioned the agency continues to actively pursue rescue capital alternatives.
“Our rescue capital platform is nicely positioned to help homeowners dealing with short-term financing challenges, serving to them navigate the present market and emerge in a stronger place,” she advised CPE.
