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Investing in Charlotte: Site Selection, Rental Rates, Biggest Players And More

The city's hottest neighborhoods, biggest investors and newest investment opportunities

Ashley Peterson

Ashley Peterson

Partner

Proffitt Dixon Partners

Mason Ellerbe

Mason Ellerbe

Partner

Abacus Capital

Jason Mochizuki

Jason Mochizuki

VP of Development

The NRP Group

Alex Cathcart

Alex Cathcart

SVP, Multifamily Acquisitions & Development

FCP

Scott Greenwald
Moderator

Scott Greenwald

Principal

Goodman Gable Gould

Ashley Peterson

Partner

Proffitt Dixon Partners

Ashley Peterson is a Partner with Proffitt Dixon Partners, specializing in complex multifamily and mixed-use development throughout the southeast. With more than a decade of commercial real estate experience, Ashley has been involved with the successful entitlement, financing, design, construction, lease-up, and disposition of thirteen multifamily and mixed-use communities, totaling more than 3,000 units and 50K sf of retail in North Carolina, South Carolina, and Tennessee. She has led and contributed to projects totaling nearly $1.0 billion in capital investment throughout the southeastern U.S., while simultaneously maintaining an ongoing active pipeline.

Early in her career Ashley managed the deployment of over $2 billion in media advertising for a top ten Fortune 500 client at a tier-1 agency in New York City. After leaving New York and returning to her hometown of Charlotte, Ashley joined Proffitt Dixon Partners where she focused on ground-up multifamily development, serving in roles from Development Associate to Director of Development. She was then recruited to nationally acclaimed Crescent Communities as Director of Development where she was promoted to Managing Director and led numerous simultaneously executed complex mixed-use projects in the greater Charlotte and Raleigh-Durham region. In 2022 Ashley had an opportunity to rejoin Proffitt Dixon Partners as a Partner where she is currently responsible for sourcing and leading notable southeastern multifamily and mixed-use developments.

Active in the community and industry, Ashley sits on the Development Committee of the Board of Directors of the Bechtler Museum of Modern Art. Ashley is also a member of professional associations such as the Urban Land Institute and the Greater Charlotte Apartment Association and frequently serves as a speaker at notable industry conferences. She volunteers and contributes regularly as a member of Myers Park Presbyterian Church, as well as with other not-for-profit organizations such as Habitat for Humanity, Second Harvest Food Bank, and Junior Achievement.

Ashley graduated from the University of North Carolina at Chapel Hill and is married to her husband, Matt, with whom she has a son, Henry, and daughter, Campbell.

Mason Ellerbe

Partner

Abacus Capital

Mason has primary leadership over Abacus Capital’s multifamily and development activities. In this capacity, Mason’s responsibilities include underwriting, sourcing, financing, ongoing asset oversight and execution of existing investments as well as new sourcing new opportunities.

Prior to joining Abacus Capital, Mason held leadership roles with several leading national multifamily development and investment firms.

Mason graduated from Wofford College and earned an MBA from UNC’s Kenan-Flagler Business School. Mason is an active member of the Urban Land Institute and serves as a youth basketball coach.

Alex Cathcart

SVP, Multifamily Acquisitions & Development

FCP

Alex Cathcart leads FCP’s Raleigh, NC office and specializes in the firm’s multifamily investments throughout the Southeast Region, including core, core-plus, and value-add acquisitions and dispositions, ground-up development and structured finance. Prior to joining FCP in 2012, Alex worked in the Real Estate Group of Wells Fargo Bank. Alex is an active member of the Urban Land Institute and holds a BSBA from the University of North Carolina’s Kenan-Flagler Business School.

Scott Greenwald

Moderator

Goodman Gable Gould

Scott D. Greenwald, Esquire, Senior Vice President, is a licensed attorney in Louisiana and Wisconsin who has been involved in the evaluation, negotiation, and consultation of insurance claims for over fifteen years. Scott graduated with distinction from the University of Wisconsin with degrees in History and Political Science, and obtained his Juris Doctorate from the Emory University School of Law. Upon graduation from law school, Scott served a one-year clerkship for Judge Nadine Ramsey, Civil District, Orleans Parish in New Orleans, Louisiana, where he assisted Judge Ramsey in making various rulings on the permissibility of asbestos, mold, and other toxin exclusions within Louisiana insurance forms.

Prior to joining GGG/AI, Scott practiced law in New Orleans in the insurance field with the firm of Galloway Johnson Tompkins Burr and Smith, whose client list included CNA, Chubb, Great American, and Scottsdale Insurance Companies. Mr. Greenwald is a frequent speaker/presenter to business owners, insurance brokers, real estate brokers, and property managers regarding the measuring of damages and the processing and handling of insurance claims, and recently gave a presentation on “Disaster Preparedness” at the Southeastern Affordable Management Housing Association’s (SAMHA) annual conference in Savannah, Georgia and on “Changes To Property Insurance In The Post Hurricane Sandy Era” at the Counsel For Affordable and Rural Housing’s annual conference in Las Vegas, Nevada.

The Future of Tenants And Residents

From technology to design to square footage, how the latest developments aim to meet residents’ needs in 2023.

Michael Tubridy

Michael Tubridy

Senior Managing Director, NC & SC

Crescent Communities

Mike Susen

Mike Susen

Senior Director, Real Estate

Greystar

Bob Moore

Bob Moore

Co-Founder & CEO

FCA Management

April Morris

April Morris

VP, Southwest

Hotwire Communications

Brian Fraser

Brian Fraser

Principal

KTGY

David Bookhout
Moderator

David Bookhout

SVP, Development & Investments

Greenberg Gibbons Commercial

Michael Tubridy

Senior Managing Director, NC & SC

Crescent Communities

With over 18 years of commercial real estate experience, Michael has been responsible for leading over

$2.0 billion of multifamily and mixed-use investments throughout the southeastern U.S.

Since joining Crescent Communities in 2013, Michael has led the predevelopment and entitlement of 20+

multifamily and mixed-use communities totaling over 7,000 residential units and 200,000 SF of retail.

Michael and his team are currently responsible for sourcing and executing Crescent’s multifamily investment

portfolio throughout the Carolinas and Tennessee.

Prior to joining Crescent, Michael served as the Vice President of Development for Aimco, a national

apartment REIT, where he led the Company’s multifamily redevelopment platform throughout the

southeastern U.S.

Michael graduated from the University of Richmond with a degree in Business Administration and holds an

MBA from the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill.

Active in the community and industry, Michael sits on the Board of Directors of the Greater Charlotte

Apartment Association and Classroom Central, a Charlotte based NPO supplying students and teachers

with over $6.5MM of free school supplies annually. Michael is also a member of the Urban Land Institute

and National Multi Housing Council and volunteers his time regularly with Habitat Charlotte.

Michael currently lives in Charlotte, North Carolina with his wife Summer and their four-year old son,

Jackson.

Mike Susen

Senior Director, Real Estate

Greystar

Mike Susen is a Senior Director with Greystar in Charlotte, responsible for executing property management strategy in a portfolio consisting of ~14,500 units across 55 communities. Before joining Greystar, Mike was the Vice President of Asset Management for Terwilliger Pappas, creating a platform to oversee the operating and financial performance of approximately 3,000 units in the firm’s “Solis” communities across the Southeast. Before joining Terwilliger Pappas, Mike worked for Crescent Communities in asset management, overseeing a Sunbelt portfolio spanning from the Carolinas to Phoenix. He began his career in multifamily with Boston Capital in acquisitions and asset management. Mike has thirteen years of industry experience and earned his undergraduate degree from Clemson University and his Master of Science in Real Estate from the University of North Carolina – Charlotte’s Childress Klein School of Real Estate. He is a board member for both the Greater Charlotte Apartment Association and the North Carolina chapter of Shelters to Shutters.

Bob Moore

Co-Founder & CEO

FCA Management

ob has over 20 years of experience in the multifamily housing industry, having overseen the operations of 12,000+ units in the Southeast and completed the lease-up process of 6000+ units of new construction multifamily.

Mr. Moore began his career in Property Management as a Leasing Consultant and worked his way through all on-site and corporate positions. He gained valuable experience working for REITs, Fee Management, and private LLCs such as Greystar, MAA, and CWS Apartment Homes, LLC. His concentration has been on urban mid-rises, high-rises, suburban garden lease-ups, and BTR. He has vast experience with acquisitions, renovations, value-add and new construction development.

In June of 2017, Mr. Moore built out and launched FCAM’s management platform and has grown the portfolio to 8000+ units and is actively consulting on a pipeline of 3500+ units of new construction development. He is an expert in all facets of multifamily operations and works intimately with his clients consulting on the best strategies for their new construction developments, potential acquisitions, and value-add opportunities. Prior to launching FCA Management, Bob was a Senior Director with Greystar, working in both real estate operations and client services and overseeing 12,000+ units in the Southeast.

Bob holds his CAM and CAPS designation and is a Board of Directors member of NMHC.

April Morris

VP, Southwest

Hotwire Communications

April Morris is the Vice President of Hotwire Communications’ Southwest Region, covering Arizona and Nevada. With more than 15 years in the telecom industry, she brings extensive expertise in residential and multifamily properties. April is well-versed in managing business development and account management teams, having managed a multi-billion-dollar portfolio across three million homes. April develops and implements strategic sales visions to increase market penetration and drive sales initiatives throughout the region. She also supports her team of Business Development Executives through education and motivation, fostering a passion for promoting Hotwire’s services. Her efforts not only impact the Southwest Region but also contribute to company-wide initiatives through local leadership.

Brian Fraser

Principal

KTGY

As a principal at KTGY, Brian Fraser is an open collaborator who never loses sight of the end

goal. Specializing in production for mid- and high-rise multifamily developments, including the new

addition to Charlotte’s skyline, The Ellis, and The Novel Montford Park. A Virginia Tech graduate, Mr.

Fraser’s roots in the Southeast run deep. And after working across every residential typology in the

region, Brian is adept at deciphering the complexities of a project to find the specific challenges facing a

community and a location. He is equally equipped to make opportunities to meet those challenges,

often applying a proven situational solution in a new context.

Brian works directly with clients to exceed their expectations. He emphasizes that design, production,

and the client are all one team. He leverages 15 years of experience to guide his teams through the

specific challenges that they face. Working in tandem with the designers, Brian makes his expertise

available from schematic design through construction administration. His expertise, consistency and

problem-solving compile into an attitude of collaboration that makes him a trusted resource within

KTGY and for his clients. To him, it is all about the team.

David Bookhout

Moderator

Greenberg Gibbons Commercial

Mr. Bookhout serves as Senior Vice President of Development & Investments. He plays a lead role in the company’s mixed-use development division, with responsibility for sourcing, evaluating, underwriting, acquiring and executing projects in the Mid-Atlantic region and the Carolinas. Prior to joining Greenberg Gibbons in 2021, he was Vice President of the Mid-Atlantic & Carolinas Regions for AvalonBay Communities, where he specialized in mixed-use projects that feature multifamily housing over retail and led teams that delivered more than 2,300 units. Mr. Bookhout holds a Bachelor of Business Administration from the University of North Carolina, a Master of Professional Accounting from the University of Texas, and a Master of Business Administration from the Kenan-Flagler Business School at the University of North Carolina. He is a Certified Public Accountant and serves on the UNC Kenan–Flagler Business School’s Board of Advisors, and has previously served on the Board of Directors for AIRS-Empire Homes and the Waterfront Partnership of Baltimore. He is a member of ICSC and Urban Land Institute (ULI).

Charlotte's Multifamily Development Outlook

As more residents come pouring in, what is in Charlotte’s 2023 development pipeline?

Caroline Kenney

Caroline Kenney

President, Development, Asset Management & Capital

Menkiti Group

Todd Collins

Todd Collins

CEO

Red Hill Ventures

Alex Eyssen

Alex Eyssen

Senior Managing Director, Development

Mill Creek Residential

David Roberts

David Roberts

SVP Of Development

Hoffman & Associates

Brittani Sanders

Brittani Sanders

Vice President - Multifamily

Portman Residential

Jeff Pirhalla
Moderator

Jeff Pirhalla

EVP

BankFinancial

Caroline Kenney

President, Development, Asset Management & Capital

Menkiti Group

As President of The Menkiti Group’s Neighborhood Transformation platform, Caroline Kenney is responsible for oversight and strategic direction of the Company’s $2 Billion Real Estate Development pipeline, 60-property portfolio of mixed-use operating assets, and $50 Million Obsidian Catalyst Fund. The firm’s Development and Asset Management portfolios extend along the Eastern Seaboard, with major concentrations in the Washington, DC, and Boston, MA regions.

Prior to joining The Menkiti Group in the Fall of 2024, Caroline enjoyed a nearly 20-year tenure with Urban Atlantic, completing over $1 Billion in mixed-use, mixed-income real estate projects and spearheading landmark public-private developments such as the 66-acre Parks at Walter Reed (DC), 45-acre Cheverly Hospital Redevelopment (MD), and 350-unit mixed-income Trella multifamily development in Charlotte (NC). She has worked with a wide range of public partners including the Washington Metropolitan Area Transit Authority; multiple agencies of the District of Columbia and Prince George’s County; and housing authorities in Washington, Tampa, Greensboro, Charlotte, Memphis, and Baltimore. Early in her career, Caroline worked with affordable housing developers East Lake Management and Lawndale Christian Development Corporation (both Chicago based).

Caroline holds a Master’s Degree in Urban Planning and Policy from the University of Illinois at Chicago and a BA in Political Philosophy from Wheaton College (IL). She serves on the Board of Jubilee Housing, the Advisory Committee of the ULI Washington Women’s Leadership Initiative (past Chair), and the Leadership Council of the ULI P3 Product Council (Blue Flight), and serves in multiple capacities with the Ward 7-based Peace Fellowship Church (DC).

Alex Eyssen

Senior Managing Director, Development

Mill Creek Residential

Alex Eyssen serves as Managing Director of Development for North and South Carolina and oversees the company’s 16th regional office, located in Charlotte, North Carolina. Mr. Eyssen has more than 12 years of experience in real estate development and has been directly involved in development of multifamily and student housing communities in excess of $500 million. Mr. Eyssen has also practiced as a trial attorney handling land use matters.

Prior to joining Mill Creek, Mr. Eyssen was Vice President of Development for The Bainbridge Companies and worked on projects in North Carolina, South Carolina, and Florida. Prior to Bainbridge, Mr. Eyssen served as Vice President of Development, Acquisitions and Dispositions at Charlotte-based Campus Crest Development, the national real estate development company for Campus Crest Communities. Here, he helped the company’s ground-up efforts to build a $1.9 billion portfolio of student housing assets.

Mr. Eyssen holds a Juris Doctor from St. Mary’s University, a Bachelor of Science from McMurry University, and is a member in good standing with the Texas Bar Association.

David Roberts

SVP Of Development

Hoffman & Associates

David Roberts joined Hoffman & Associates in 2016, and as Senior Vice President of

Development, manages several projects across the region including two major developments in

Southwest DC – Waterfront Station II and Parcel B at Audi Field in partnership with DC United.

David brings more than 15 years of real estate development and asset management experience

in both the public and private sectors. Prior to joining Hoffman & Associates, David served as the

Director of Facilities and Asset Management for the Department of Homeland Security

Immigration and Customs Enforcement Agency. In this position, David oversaw the real estate

acquisition, construction and asset management services to support the agency’s domestic

operations. David also served as Director of Real Estate Asset Management for the Deputy

Mayor’s Office for Planning and Economic Development where he served as a board member

for the Union Station Redevelopment Corporation.

David graduated from The University of Chicago with a Bachelor of Arts in Economics and the

University of Pennsylvania’s Wharton School of Business with a Master of Business

Administration.

Brittani Sanders

Vice President - Multifamily

Portman Residential

As Vice President, Brittani Sanders is responsible for overseeing the development of several of Portman’s multifamily projects in the Southeast. This includes Sora at Spring Quarter in

Midtown Atlanta; Savona Residences in Charlotte; 2161 Hawkins in Charlotte; Ballpark Village in Nashville; and Eleven North in Nashville.

Before joining Portman, Brittani served as the Senior Director of Development for CRG whereshe was responsible for overseeing the development of more than 2,000 units with a value ofover $600 million. Prior to CRG, she served as Project Manager for JLL’s Project and

Development Services division. Brittani is a member of ULI’s National Multifamily Product Council and a board member for Over the Rainbow, a non-profit organization dedicated to providing independent living solutions for individuals with physical disabilities.

Jeff Pirhalla

Moderator

BankFinancial

Mr. Pirhalla is EVP of BankFinancial's Commercial Real Estate Lending division where he manages nationwide loan production. Prior to BankFinancial, he originated Agency loans nationwide with Greystone following five years at CBRE, where he founded the Wholesale and Bank Correspondent Lending divisions. He is a member of the MBA Multifamily Council and CMF Bank Council and has been a featured speaker at numerous industry events. His previous roles included National Accounts Manager for Sabal Financial; portfolio surveillance and risk analysis for Wells Fargo’s $600 billion CMBS and Agency loan portfolios; and was instrumental in the expansion of several commercial real estate lending platforms for Impac Commercial Capital Corp, SunTrust Banks, and JPMorgan's CMBS division.

Opening Remarks

Michael D’Onofrio

Michael D’Onofrio

Managing Director

Engineered Tax Services

Ronald Pierce

Ronald Pierce

Insurance Claims Expert

Painther Construction

Michael D’Onofrio

Managing Director

Engineered Tax Services

As Managing Director with (ETS) Engineered Tax Services, Michael works nationally with top CPA firms, savvy real estate investors, companies and individuals to help identify comprehensive engineering-based specialty Tax Credit and Energy Incentive solutions to maximize each situation. With a background in domestic and international finance, mergers & acquisition, real estate development and renewable energy, Michael is a regular event speaker and educator on a national level regarding cost segregation, tax credits, opportunity zones, historic tax credits, R&D tax credits, solar tax credits, “green” building techniques and other Federal, State and Local Utility energy tax incentives. Michael obtained his MBA from Nova Southeastern University’s Huizenga Graduate School of Business and Entrepreneurship in Ft. Lauderdale, FL after completing his undergraduate studies at John Carroll University in Cleveland, OH. Michael lives locally with his family in SouthPark area of Charlotte, NC for over 20 years.

Ronald Pierce

Insurance Claims Expert

Painther Construction

Ronald began his career serving in the army, gaining valuable skills and experience that would serve him well in the coming years. In the 1980s and 1990s, he worked on helicopters.

After leaving the military, Ronald turned to construction, eventually starting his own company, Painther Construction.

In addition to his work in the construction industry, Ronald has also been involved in politics. He ran for North Carolina Commissioner of Insurance in both 2016 and 2020.

Throughout his career, Ronald has demonstrated a commitment to service and a desire to impact his community positively. Whether through his work in construction or his involvement in politics, he has always been driven by a desire to help others and improve the world around him.

An In-Person Market Report on Charlotte Multifamily

  • Supply vs. Demand: How are Charlotte’s multifamily developers and construction companies handling the high demand? Are we seeing an increase in conversions compared to building from the ground up? 

  • What types of incentives are being put in place to include affordable housing within the latest developments and projects? When will affordable housing projects become more prioritized throughout North Carolina?

  • How do you meet residents' needs and wants while also staying within a reasonable budget? How do you compromise with today’s challenges?

  • What areas in Charlotte are seeing the most growth and why? What neighborhoods are developers, investors and residents expressing the most interest in?

  • As we approach a nationwide economic downturn, how is the city strategizing for newer and current projects, especially with the factors of construction costs, labor force, planning/permitting delays, etc.?

  • With new investors moving into the area, how is the city prioritizing the new development pipeline?

How You'll Do More Business: Charlotte remains on top as one of the fastest-growing markets in the country. From 2021 to 2022, it saw a growth rate of 3.38%, with a total population of 2,204,000. Although the population is booming, how will the factors of rising construction costs, inflation, labor shortage, project delays, etc. impact Queen City's development pipeline? How will it impact the need for affordable housing? Join us as we discuss how Charlotte is innovating, investing and developing its latest multifamily projects as well as keeping its status of a live-work-play destination.

Who You’ll Meet: Charlotte's top multifamily owners, developers, investors, brokers, contractors, designers, architects, financial institutions and more!

Projects, Activity, and Achievements -- 

Urban Atlantic's $84M fund to build mixed-income mid-rise in Uptown Charlotte

Abacus Capital's The Campbell - 12-story, 117-unit high-rise multifamily project planned to deliver in 2024

Charlotte's Power 100: Key players who are leading the market's growth, Red Hill Ventures' Todd Collins

Mill Creek Residential's Modera LoSo, a luxury apartment community located in Lower South End

Greystar's North Charlotte's residential acquisition - 516 multifamily residential units, including 402 apartments and 114 townhomes.

For questions, recommendations, comments, press inquiries, or if you are interested in sponsoring, please email our Mid-Atlantic Event Producer, Katie Telder, at katie.telderbisnow.com

Agenda

Time Activity
Tuesday May 9, 2023
12:00 PM
1:00 PM
Registration, Networking and Breakfast
1:00 PM
1:45 PM
Investing in Charlotte: Site Selection, Rental Rates, Biggest Players And More

The city's hottest neighborhoods, biggest investors and newest investment opportunities

1:45 PM
2:30 PM
The Future of Tenants And Residents

From technology to design to square footage, how the latest developments aim to meet residents’ needs in 2023.

2:30 PM
2:45 PM
Networking Break
2:45 PM
3:30 AM
Charlotte's Multifamily Development Outlook

As more residents come pouring in, what is in Charlotte’s 2023 development pipeline?

Wednesday May 10, 2023
3:30 AM
4:00 PM
Closing Networking