Real Estate Development Business
Resume:
Richard K. Sontgerath
**** ** ***** ******, ****** WA 98070
aduzal@r.postjobfree.com
SUMMARY
Richard brings over 30 years of experience to the real estate acquisitions & development business. This work has been nationwide and includes more than 150 acquisitions of development sites, vacant historic buildings, retail, office, residential and warehouse properties. It includes the direct sourcing and placement of more than $350MM of debt, equity, subsidy, and grants to both for-profit and nonprofit initiatives. His resume includes the long-term leadership of a real estate development firm specializing in historic rehabilitation and affordable housing and fund raising in the nonprofit sector. Initiatives include:
Creation and successful implementation of new fund-raising concepts for nonprofits
Building an award-winning portfolio of real estate development projects
Design of project funding strategies to produce Double Bottom Line returns
Team building and leadership of both for-profit and nonprofit organizations Professional Experience
President – Heritage Group Ltd. (www.heritagegroupltd.net) 1985 – Present
Oversee & manage all aspects of business development, operations, finance, legal and marketing for a real estate services firm specializing in development site analysis/selection, historic rehabilitation, urban revitalization, and affordable housing. Completed acquisitions and/or developments in more than 20 markets nationwide & Canada. Familiar with ‘lay of the land’ in more than 50 US CBD’s.
Formation of a State of Washington nonprofit corporation – K2COMMONS Led redevelopment concept for the former (surplus) K2 ski manufacturing property on Vashon Island for a state-of-the-art community center.
Formation of 501(c)3 organization – Heritage Affordable Housing Successfully completed two projects with a total of 150 units of affordable housing. Ralston House, Ralston, NE - 100 units of age/income restricted senior housing funded with 9% tax credit equity & tax-exempt bonds. Mulberry Lofts, Des Moines, IA - 50 units for sale lofts targeted to first time home buyers. Funded by conventional debt & equity with subsidy from City of Des Moines & Fannie Mae.
International senior housing owner/operator client Acquisition, development, and equity placement services for international senior housing owner/operator. Led initiative which developed an ‘affordable’ assisted living prototype. Sourced and placed a single investor, $35MM direct equity investment in company
Board Chair & Member/Development Committee – Vashon Community Care (VCC) - Independent & assisted living and skilled nursing. 2000 – 2018
Directed fundraising for VCC with approximately $350,000 in annual contributions.
Host & patron of annual ‘Uncork the Love’ dinner & entertainment (2012 KD Lang) which generated $50,000 per event thru ticket sales & event sponsorship.
Instrumental in 2013 - Headed a $350,000 capital raise which facilitated a mortgage refinance providing a permanent $20,000 reduction in the VCC monthly mortgage payment. EDUCATION
Harvard College, A.B. Government
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