What You Don't Know About Kiser Institutional Group's Todd Stofflet
Last month multifamily icons Todd Stofflet, Susan Tjarksen and Lee Kiser joined forces to launch Kiser Institutional Group, and KIG has 3,000 units (Chicago metro, Northwest Indiana, Kentucky) coming to market in March. Before Todd shares his market outlook at Bisnow’s Chicago Multifamily Summit on April 2, we wanted to get to know him a little better:
Job title: Managing Partner.
What that means: I’m responsible for all of the brokerage activities for the firm.
What your company does: We are a brokerage firm representing institutional clients on multifamily deals, both land development and existing product.
How you’ll stand out: We’re mining data differently. In addition to sales and rent comps, we’re tracking every asset in the Chicago area (available interactively on our website), and we’ll expand that radius to every asset over 100 units in the Midwest and update it regularly.
Memorable project: Before KIG, I recently repped Golub and its affiliates on the sale of 143 units across 11 buildings at Halsted and Willow. It was interesting to learn more about Chicago’s neighborhoods, something you’re not necessarily exposed to in institutional real estate, and what Millennials are looking for in areas like Lincoln Park and Lakeview.
Hometown: Denver, CO. I spent 14 years out there before moving to Columbus, OH.
School: Miami of Ohio.
First job: My dad worked for single-family home builder M/I Homes in Columbus and my first job was sweeping out new construction houses before they went to punch out. I also worked in the sales office helping sell the properties.
First CRE job: I remember sitting in my dorm as a senior, not knowing what to do with my degrees in political science and international business. I knew law school was out, and I opened The Wall Street Journal to see one of Marcus & Millichap’s old two-page spreads outlining investment opportunities. I saw the big numbers and thought it looked like a fantastic thing to do. I met with Greg Moyer in Indianapolis and moved to Chicago right after college to work for him and start brokerage training.
First Chicago apartment: In Lakeview, a block from Wrigley Field. I lived with some M&M co-workers and we commuted daily to O’Hare.
Job in another life: I love to cook and I’m a wine enthusiast, so I could see myself operating or owning a restaurant.
Dream dinner party (guests can be alive or dead): As a political science major, I’d be very interested in Ronald Reagan’s insights on his time before and in office. I’d also like to chat with President Obama.
Daily habit: It was always Starbucks with The Wall Street Journal, but with the new company I’ve had to give up on that. I’ll get back into it.
Favorite musician: Sam Smith, who I recently saw perform at Madison Square Garden.
Favorite book: The Bluegrass Conspiracy by Sally Denton. It’s a look at the drug trade throughout the ‘70s in Kentucky, which is interesting for me since I’ve done a lot of work in that market and know some of the names mentioned. It’s a good, quick read.
Favorite movies: Sabrina, the remake, and The Thomas Crown Affair, the remake. I like sentimental love stories.
Favorite vacation spot: I went to Antigua for Christmas with the family. It’s a beautiful island and we had lots of beach time, along with some snorkeling and sailing.
Favorite restaurant: Alinea. I went there before they started the ticketing system with a client for a closing dinner and it was one of the greatest experiences I’ve had related to food.
Bucket list: I scratched an amazing one off this year when I went to the Amazon. (Todd's snapped on the trip with his husband Jason.) We were on the river for a week, I swam with pink dolphins and I searched for tarantulas and anacondas. Africa is next on my list for travel.
Family facts: My husband and I spend a lot of time with my parents and sister in North Carolina. My parents have been retired for a couple of years so we’ll often travel together.
Startling fact: I took a semester off in college to work on a dive boat in Key Largo. Teaching diving, emptying lobster traps, etc. Also I am a master scuba diver.