Stacey recently retired as the Executive Vice President of Midland Loan Services, a PNC Real Estate business. Mr. Berger co-headed the Midland Loan Services business, and was responsible for business development, corporate development and strategy activities, and was a member of the PNC Real Estate senior leadership team. PNC Bank, N.A. is one of the largest US commercial banks with assets of $457 billion.
During his tenure at Midland, Stacey served as the company’s primary contact with institutional and specialty finance clients, CMBS investors, issuers, underwriters and rating agencies. Here, he developed one of the first CMBS conduit programs, which has subsequently originated and securitized more than $15 billion in commercial real estate loans. Additionally, He led the acquisition of over $1 billion in non-performing real estate assets from the Resolution Trust Corporation in the first private / public structured transaction. Stacey was primarily responsible for the development of a strategy that resulted in the sale of Midland to PNC Bank in 1998 for approximately $400 million, including the assumption of outstanding debt.
Currently, Midland is the leading provider of loan servicing, asset management and technology solutions for the commercial mortgage finance industry and is one of the largest CMBS master and special servicers. The company is one of the nation’s largest commercial loan servicers with over $650 billion in outstanding balances. As special servicer, Midland is responsible for asset management, workout and resolution of a $220 billion CMBS portfolio. Since 2005, Midland has resolved over 3,400 specially serviced assets for total net recoveries of more than $29 billion, representing 87% of outstanding balances.
Prior to joining Midland, Stacey was the senior executive responsible for the real estate asset management and investment advisory services for a subsidiary of Landmark Land Company, Inc., a NYSE-listed real estate development and thrift holding company. He founded the Oak Tree Capital asset management group in 1986 and developed it into a nationally recognized operation providing management and disposition services for portfolios originally valued in excess of $1 billion with recoveries of over $500 million through sale, collection, settlement or restructure. Asset management, resolution and disposition services were provided for clients including PNC Bank, Bank of New England, Harbor Federal Savings, FDIC, FSLIC, FADA, Federal Home Loan Banks of Atlanta and Dallas. Consulting and advisory services were provided to
Salomon Brothers, Inc., GM Pension Trust and Security Pacific Bank Arizona. Stacey recruited, trained and managed a professional staff of 75.
Stacey started at Landmark Land as a Project Manager, with divisional profit and loss responsibility for commercial and industrial real estate development activities in Louisiana. His portfolio included properties valued in excess of $60 million, included 750,000 square feet of improved office, retail, multifamily and industrial properties and 1,200 acres of developed land. Prior to joining Landmark in 1983, he was Director of
Research for Smolkin Consulting Services, Inc., a nationally recognized market research consulting firm serving the real estate development industry. He was responsible for primary and secondary demographic and market research and economic feasibility analysis.
Stacey formally served as President of the Commercial Real Estate Finance Council (formerly CMSA) and received the association’s Founders Award. He served as Vice Chairman of the commercial / multifamily board of directors of the Mortgage Bankers Association and received the association’s Distinguished Service Award. He is the author of numerous articles on commercial real estate finance, servicing and asset management.
Stacey received a BA in Economics and an MBA from Tulane University, and serves on the Business School Council at the A.B. Freeman School of Business and is an Adjunct Lecturer, and an Executive in Residence at the Lepage Center for Entrepreneurship and Innovation.
Hope founded Hope Housing Partners (HHP) in 2021 after initiating the strategy in her prior role as Practice Leader at SQ Advisory, part of Student Quarters. Since inception, Hope has worked to round out the HHP team and build out the pipeline of acquisition and development opportunities centered specifically on the need to create affordable, workforce housing. HHP’s initial efforts have centered around creating workforce housing within Eds & Meds labor markets, specifically by targeting conversion and adaptive re-use of purpose-built student housing communities that suffer competitive obsolescence, which have resulted in financial and operational distress.
Prior to HHP and SQ, Hope was the VP of Land Acquisition and Development at Edwards Communities Development Company. Here she led the process to identify, acquire and develop sites for multi-family and student housing projects. Her role included identifying and analyzing key markets, market and financial feasibility analysis and site selection/assemblage. She led both the due diligence and the pre-development process, working closely with the team and outside consultants to ensure a full understanding and positive resolution of environmental, design, construction, regulatory and/or financial issues. During the pre-development process, Hope acted as chief strategist, crafting the plans to ensure all possible entitlements, tax incentives and development objectives were effectively secured while delivering maximum efficiency and value. Over the course of her tenure at Edwards Hope worked on over $750MM in new development projects.
Prior to her tenure at Edwards, Hope served as Senior Vice President, Investor Services and Capital Markets at Equity Inc. Charged with driving cultural and organizational changes necessary to launch a private equity fund, Hope steered a dual course between the operating company and the fund company. As a Managing Partner of Equity Velocity Funds, Hope provided leadership on strategy, organization and communications and was chiefly responsible for identifying and developing investor relationships, and for vetting the investment pipeline. She recruited and maintained relationships with key investment committee members and key investors. Through Hope’s relationships and efforts, Equity Velocity Fund 1 and 2 were fully subscribed. Fund 2 through a single ($50MM) investment resulting from Hope’s actions. As Senior Vice President Investor Services and Capital Markets at Equity Inc. she developed, managed and directed the investment sales platform, utilizing a cross-functional team that included brokerage, capital markets, financial analysis, marketing, operations and legal, to deliver a robust pipeline of strategic, well-reasoned and executable real estate investment opportunities for Equity Velocity Funds as well as an independent roster of investors.
Hope began her career in New York City, at M.J. Raynes Inc., the market leader in acquiring and converting rent regulated apartments to cooperative and condominium ownership. During her eight-year tenure the firm converted the largest volume of buildings and units in the history of New York City. Ultimately rising to Vice President and Divisional Director, she was involved in every aspect of this complex process and played a key role in the massive volume and unique accomplishments of this company. The very unique complexities and complicated requirements of the assets and the interconnectivity between each component provided Hope, in this formative role, with a fertile training ground and particularly strong foundation from which to build her skills and ground her understanding of the bottom line. During her years at Raynes Hope was directly involved in over $1B in transactions. For more than a decade following Raynes, Hope was a principal and Managing Director at The Whitehill Group, a NYC based asset management firm, where she provided service and guidance on all aspects of distressed real estate related investments to institutional and ultra-high-net worth investors. In addition to her portfolio responsibilities, Hope led both the sales teams and investor relations. Clients included AEW Capital, FGH Realty Credit (AEGON), BNP, Citibank, Samson Management and American Continental Properties. Assets under management exceeded $500MM.
Hope is a graduate of Temple University in Philadelphia, PA and a resident of New Orleans, LA.
Jon is a Principal with Hope Housing Partners and the owner of Tempo: Development + Lifestyle (Tempo), a multi-family/mixed-use development platform which he formed and capitalized through its initial partnership with Student Quarters (SQ), a student housing operator, and equity investment from a NYC-based private equity fund. Here, his efforts have focused on placemaking through the development of $50 mm to $100 mm multi-family/mixed-use projects specifically oriented toward University Medical Centers, a personal thesis. Currently, Tempo has two, joint venture development projects (Indiana and Ohio) comprising over 450 units of multi-family housing. Tempo is generally involved in all aspects of the projects from start to completion, including: sourcing investment opportunities; securing capital; market analysis and underwriting; financial feasibility; acquisition and entitlement; and, design and development. Projects are carefully programmed and designed with fit and finish, amenities and activities crafted specifically for the targeted tenancy and location.
Prior to HHP and Tempo, Jon served as Senior Vice President of Edwards Communities Development Company, a real estate company focused on national student housing, mixed-use and conventional multi-family communities. In this role, his activities included site selection, land assemblage and acquisition, obtaining development entitlements, and collaborating on the design/development processes to bring to completion the company’s real estate projects.
Jon concurrently served as the Vice President of Finance/Capital Markets for Edwards Companies, the real estate holding company of the Edwards family, and was primarily responsible for capitalizing the real estate activities of the enterprise, including debt, equity, strategic joint ventures, and dispositions while procuring financial and development incentives for the organization during its development, ownership and management of nearly $1 billion in multifamily properties comprising approximately 20,000 beds. Edwards Companies is full-service real estate development company comprised of Edwards Communities, Edwards Communities Development Company, Edwards Student Housing, Edwards Communities Construction Company, Eclipse Management, Edwards Urban and Urban Five Construction. Headquartered in Columbus, Ohio, the company has completed significant projects in AL, CO, FL, IL, IN, KY, LA, MI, NC, NY, OH, PA, SC, and TN.
Prior to transitioning into real estate development, Jon was a Senior Director of Capital Markets at Holliday Fenoglio Fowler (HFF, now Jones Lang LaSalle), executing significant capitalizations on behalf of his investor and developer clients. Here, Jon led the formation of what would later become the company’s Student Housing specialty group. After nearly a decade at HFF, Jon has completed in excess of $3.5 billion in multi-family and commercial real estate transactions with over 100 different debt and equity relationships including REITs, Banks, Pension Fund, Advisors, Agency Lenders, Life Insurance Companies, Investment Banks, Special Services, Private Equity Funds, Family Office, and Private Investors. His efforts resulted in over $950 million in industrial, office and healthcare transactions comprising 25 million square feet across the US; $550 million in retail property transactions spanning 7 million square feet across the US; and, $350 million of student housing comprising 10,000 beds.
Jon is an Investment Committee member of Equity Velocity Funds I and II (www.equity.net), and previously served on the Leadership Committee of the University Development Council of Urban Land Institute (ULI). He holds a BA in Finance and Economics from the Eli Broad College of Business at Michigan State University.
Michael G. Sherman is a Principal and General Counsel of Hope Housing Partners. He is the founder of Sherman Strategies, LLC, a project-based legal consulting firm that thrives at the intersection of law, real estate, and government relations. Its growing client base includes Fortune 500 companies, real estate developers, and local non-profit organizations, all of whom rely on the support of Sherman Strategies in each stage of their projects, from inception to completion. Among its recent engagements, Sherman Strategies was integral to the ongoing redevelopment of the former Times-Picayune headquarters at 3800 Howard Avenue in New Orleans, and served as counsel for HRE New Orleans (a joint venture between Hilco Global and T. Parker Host Inc.) in the redevelopment of the Avondale Shipyard in Jefferson Parish.
Prior to going into private practice, Mr. Sherman served as Mayor Mitch Landrieu’s Executive Counsel and Director of Intergovernmental Affairs. As Executive Counsel, Mr. Sherman was the legal advisor in the Mayor’s office. As Director of Intergovernmental Affairs, Mr. Sherman was responsible for developing and implementing the city’s strategy to interact with governmental bodies. This included producing and analyzing legislation, proposals, and initiatives to achieve the city’s policy goals, as well as serving as the focal point of coordination for the city with state and federal governments in addition to the legislative branch of New Orleans city government and the 162 boards and commissions in the city.
Mr. Sherman is also an Adjunct Assistant Professor of Political Science at Tulane University, teaching courses on American government and the political system of New Orleans. In addition to his teaching, Mr. Sherman is a frequent analyst on Fox 8 WVUE, where he covers local and national politics.
Prior to his service in city government, Mr. Sherman was an attorney in private practice based in New Orleans, Louisiana and licensed to practice in four jurisdictions – Louisiana, New York, New Jersey, and the District of Columbia. His practice focused on representing clients before governmental bodies with an emphasis on land use. He previously served as Vice-President of a Florida-based real estate development company, where he managed the company’s Gulf Coast operations. Prior to that, Mr. Sherman served as an attorney with a multinational law firm based in Washington, DC. His practice focused on legislative and regulatory affairs.
In 2004, Mr. Sherman was elected as an Advisory Neighborhood Commissioner of the District of Columbia. In 2001, Mr. Sherman was selected as a Mayoral Fellow in City Government, where he worked closely with city government leaders of New Orleans, Louisiana. He received his law degree from Georgetown University Law Center and his undergraduate degree from Tulane University.
Stephen has over 40 years of experience in the private real estate development sector, specifically focused on large scale land planning, design, entitlement & construction. Stephen has had senior leadership positions with nationally known real estate development and home building companies. His experience has been gained in the entire development cycle from pre-acquisition planning, through the architectural design and engineering process, and owner’s representative responsibilities during the construction and operating cycles. Stephen’s focus for Hope Housing is on land planning, architectural & engineering design, entitlements and construction.
Stephen has spent the last 10 years working with Edwards Communities Development Company, a nationally recognized multi-family developer. His responsibilities have included pre-acquisition land planning, architectural design, engineering coordination and owner’s representative responsibilities during the construction phase for many large-scale market rate and student housing projects. During this period, Stephen has successfully completed more than fifteen large scale multi-family mixed-use communities consisting of over 4,500 units. Stephen also provided land planning design for several large scale single-family residential communities.
Prior to joining Edwards Communities, Stephen was Vice President of Land at MI Homes, the fifteenth largest home builder in the country for 10 years. Stephen was responsible for land planning, zoning entitlements, engineering and land development construction for many large-scale master planned communities throughout the eastern United States. Stephen joined The New Albany Company as Director of Planning & Design for New Albany, a 6,000-acre master planned mixed-use and golf community in Columbus, Ohio. His responsibilities included overall development master plan, detail design & engineering for numerous single-family and mixed-use development parcels. Stephen coordinated the entire development process from pre-acquisition planning, land planning, and design to construction.
Stephen joined as Vice President and Director of Design & Planning for Landmark Land Company. During this period, Landmark successfully acquired raw land, designed and developed Carmel Valley Ranch, PGA West, La Quinta Resort, Palm Beach Polo Club, Kiawah Island and Mission Hills. Stephen was responsible for directing the in-house team of development professionals including architecture, planning, engineering, golf course design and construction for many master-planned communities, consisting of thousands of single-family, multi-family residences, mixed-use projects and resort hotels.
Stephen received a Bachelor of Landscape Architecture degree from Louisiana State University and has had significant additional training in real estate development, project management and design.