MICHAEL PRIDE
**** **** **** ******, ****** City Beach, FL 32407
917-***-**** / **********@*****.***
Asset Management • Contract & Lease Negotiation • Acquisitions • Dispositions • Investment Management • Financial Analysis & Underwriting • Market Analysis
EXECUTIVE PROFILE
More than 10 years’ experience acquiring and developing income-producing properties. Skilled at single-handedly entering new markets, integrating into the investment community and systematically targeting properties to acquire. Exhibits highly analytical approach to both market research and underwriting in order to support valuations and secure investment committee approvals. Broad skill set includes leasing, acquisitions, development and asset management. Decisive and willing to take bottom-line responsibility. Creative problem solver and negotiator.
WESTAGE COMPANIES, Fishkill, NY 2012 - 201412 - 2014
Director, Acquisitions and Development / Medical Office
Sourced new opportunities for investment and development in medical properties.
Financial analysis and underwriting of new investment/development opportunities.
Covered the market, worked with hospitals and responded to RFP’s.
MKP PROPERTY ANALYSIS, INC., New York, NY 2008 – 2012 and Present
As Consultant, Investment Underwriting and Project Management Services
Project management of 600,000 SF Mixed-Use Residential/Hotel/Retail project in Queens.
Financial analysis of 2.3M SF Mixed-Use Residential, Office and Retail project in Qingdao, China.
Contract buy-outs on Condominium development in West Chelsea, Manhattan.
ADVENT DEVELOPMENT PARTNERS, LLC 2006 - 2007
Partner, Medical Development, New York, NY
Partner in start-up venture for investment/development of medical offices in the New York metro area. With Pacific Medical Buildings of San Diego.
HINES INTERESTS, New York Regional Office 1997 - 2006
Senior Manager, Investments
Negotiated leases & marketed space. Managed broker teams for leasing and asset acquisition.
Sourced, acquired and managed existing income-producing properties for Hines’ Funds.
Managed investment assets: set-up financial models [Argus/Excel], created operating/capital budgets, marketed space, negotiated leases, managed outside legal & brokers, worked with tenants [5,000 to 415,000 SF], oversaw property management team, negotiated taxes.
Acquired new investments: produced feasibility analyses, underwrote profitability and investor returns, conducted due diligence, created acquisition bids of office/retail sites >4m SF.
Sold properties in competitive process pursuant to portfolio strategies.
Planned/Executed new development projects from site acquisition through construction and sale.
Invested for Hines’ Funds: Core Fund [CBD Towers], Value-Add [Suburban Office], Net-Leased.
Responsible for periodic reporting to pension fund investors and lenders.
Opened new market for Hines in New Jersey, 6th largest office market in U.S.
Sample Activities:
Leased 415,000 s.f. to Aventis Pharma and developed new 600,000 s.f. headquarters project in Bridgewater, NJ on behalf of Hines U.S. Development Fund— Managed project from site acquisition through entitlements, construction, operation and final sale:
Executed $130M sale of Aventis property to institutional investment fund
Underwrote and executed acquisition of a 120,000 s.f. suburban corporate office property in Warren, NJ on behalf of Hines’ Value-Add Fund. Major tenant: Verizon Wireless.
Negotiated acquisition, administered lease and managed ultimate sale of a 164,000 s.f. urban office property in Jersey City, NJ on behalf of Hines Corporate Properties Fund. Negotiated property tax abatement with Jersey City worth $5M. Administered lease to MetLife.
Planned and conducted feasibility of leasing retail space at the Farley Post Office building as consultant to U.S. Postal Service, including a retail market study of the Herald Square area.
Analyses examples: Jersey City condo project; 1M SF ATT HQ’s redevelopment – New Jersey; 1.9M SF Manhattan office tower; 800K SF TV studio complex – Manhattan; Times Sq. tower.
ESSEX CAPITAL PARTNERS, New York, NY 1996 - 1997
Managing Director, Acquisitions
Responsible for Financial Analysis of proposed acquisitions from $10-100 million. Created cash flow proformas and debt/equity structures. Produced investment analyses and offering memorandums for limited partnerships. Structured partnership interests and distributions.
Underwrote: —Office acquisitions from 151,000 s.f. to 1.7 million s.f. —Residential conversions of existing buildings from 170,000 to 260,000 s.f.; —New residential tower development of 199,000 s.f. —office condominiums in Manhattan of 90,000 s.f.
NEW YORK CITY ECONOMIC DEVELOPMENT CORP. New York, NY 1988 - 19961988 - 1996
Vice President - Development
Responsible for taking vacant City-owned property and planning “highest-and-best-use” development projects, obtaining all zoning and land use approvals including environmental permits, then selling “as-of-right” development projects to private developers. Goal: to generate maximum cash for NYC.
Responsible for creating development projects valued at over $300 million through 17 contracts of sale and 10 ground leases. Supervised seven project managers.
Planned and obtained public approvals for new retail projects, including: 750,000 SF suburban power center; 600,000 SF urban retail center; combined 500,000 SF in urban community centers. Combined 100,000 SF in Neighborhood Strip Centers
Created project feasibility analyses / financial analyses / spreadsheet models / land valuations. Calculated economic benefits to municipality from employment and property taxes in order to justify public disposition of property.Wrote RFP's for proposed projects. Presented projects for public review. Commissioned appraisals, conducted market research and engaged in due diligence to determine project value.
Obtained environmental and land use approvals, including environmental impact statements.Worked with zoning analyses, toxic analyses, wetlands surveys; City, State, Federal review agencies.
INDIANA UNIVERSITY, Bloomington, IN, School of Business
LICENSED BROKER – FLORIDA and NEW YORK STATE
NOTABLE SKILLS: Argus Software Modeling; Co-Star Market Analysis; Purchase/Sale Contracts.