Dallas State of Office

Michael Ablon is the founding partner of PegasusAblon, a multidisciplinary developer and investor focused on the integration of emerging markets and evolving demographic trends. Combining this strategy with nationally recognized institutional capital and private capital, PegasusAblon focuses its practice specifically in the Dallas/Fort Worth area–where they have developed a commanding understanding of the growth patterns and demographic shifts. Mr. Ablon has completed numerous noteworthy projects in the course of his pursuit of a cutting edge ethos. He is fortunate to have led the redevelopment of the Dallas Design District from a warehouse/showroom district of the 1950’s-­‐1970’s into a vibrant neighborhood with showrooms and galleries, unique restaurants and local retailers, and lofts and apartments while maintaining the history, vibe, and character of the district’s past. In addition to the Design District, PegasusAblon has aggregated a dominant presence in the Preston Center Office Submarket, which has the highest-­‐ average rent and occupancy of any office submarket in Dallas/Fort Worth. Mr. Ablon’s multifamily experience includes the creation of highly innovative developments in the high-­‐growth Frisco submarket and the Design District, among others. PegasusAblon has a reputable award-­‐winning focus on quality and is honored to have been recognized for Best Multifamily Design Projects, the Dallas Regional Chamber Momentum Award- Community Investor, Best Deal Award for Best Public/Private Partnership, 100 Fastest Growing Companies, and named the #1 Best Place to Work in DFW for small companies. Mr. Ablon’s work within PegasusAblon has led to the completion of over a $1 billion of investment transactions in DFW since its inception in 2007. Mr. Ablon received his Bachelor of Engineering and Bachelor of Architecture degrees at the University of Texas at Austin, and earned his Master’s Degree from Harvard University. Early in his career, Ablon worked as an apprentice under the world- ­‐renowned theorist and architect Robert Venturi in Philadelphia and has been a visiting lecturer at multiple universities including Harvard and Yale. Prior to founding PegasusAblon, Mr. Ablon held senior positions at Hillwood Development, CarrAmerica, Cousins Properties, and The Retail Connection. Among other awards and recognitions, he is a recipient of a Lloyd Warren Travelling Fellowship in Europe for the Paris Prize Competition, a two-­‐time finalist for the Fulbright United States Scholar Fellowship for architectural theory, named one of the 500 Most Powerful Business Leaders in Dallas/Fort Worth, and the first recipient of the Pioneer Award for Real Estate Impact in Dallas. Mr. Ablon is heavily involved in the community, including being the founding Chairman of the Trinity River Corridor LGC, focused on the development of a great new central park for Dallas - The Harold Simmons Park, Chairman of the TREC Foundation, Vice Chair of The Real Estate Council, Vice Chair of Legacy Senior Living, and on the Advisory Board of the Coalition for a New Dallas, and on the Dallas Advisory Board of BBVA Compass Bank.

Manuel "Manny" Ybarra is the founder and president of Pillar Commercial, a full-service commercial real estate investment and operating company based in Dallas, Texas. In this role, Manny is responsible for managing the investment performance of a portfolio consisting of office, retail and industrial properties. He leads a team of seasoned professionals in implementing strategies related to acquisitions, finance, property operations, project leasing and dispositions.

Before founding QIP, Chad was Vice President, Acquisitions for Hillwood Investment Properties, where, from 2004 to 2012, he focused on development and acquisition opportunities in numerous markets nationally. In addition to helping lead the company’s acquisition team Chad coordinated over $1 billion in dispositions. He also played an integral role in the sourcing and structuring of numerous institutional joint ventures and development partnerships. Prior to joining Hillwood, Chad was a Director of Leasing and Dispositions with Emerson Partners, a Dallas based owner and operator of office and industrial properties.

Stephen M. Modory currently serves as the Co-Managing Partner at Champion Partners. Prior to joining Champion in 1993, Mr. Modory was a portfolio manager for Trammell Crow Ventures, where he participated in the acquisition, investment, management, and capitalization of two closed-end real estate opportunity funds that included numerous commercial real estate product types, including office, industrial, retail, multifamily, hotels, land, and debt/mortgages. He started his real estate career at Trammell Crow Ventures as a Financial Analyst and after two years was promoted to being an Acquisitions Associate. Mr. Modory is a Current Member, Founding Member, and Past Chair of the Office Development Council of ULI, and currently serves as the Chair of the North Texas District Council of ULI. He is a past Board Member of The Real Estate Council of Dallas, a past Board Chair of their Foundation, and a past Member of their Government Affairs Committee. He is a Current Member and Past President of the North Texas Chapter of NAIOP. Mr. Modory earned his Bachelor of Arts degree in Economics with distinction from Stanford University.

Greg Langston joined Avison Young as Managing Director and Principal in 2013. Greg’s primary focus is representing corporate clients based in the Southwest and Southeast who have local, national and international commercial real estate needs. Greg’s experience includes advising, managing and negotiating office and industrial leases, strategic site selection, financial analysis, build to suits, building sales/dispositions, land sales/acquisitions buy outs and project management assignments.

J.J. Leonard joined Stream Realty Partners in 2015 and serves as the Managing Director for the Dallas office division. He is responsible for leading the strategic direction and operations of Dallas’ Office Team. In this capacity, his responsibilities include expanding Stream’s leasing and management platform throughout the Dallas/Ft. Worth market. J.J. possesses more than 14 years of commercial real estate experience, all in Dallas. JJ represents some of the largest institutional investors of office properties in DFW and has closed over 5 million square feet of lease transactions with an aggregate value of more than $1.0 billion.

Celeste Fowden is a Senior Vice President of CBRE in the Dallas office, specializing in office project leasing. Throughout her over fifteen years of commercial real estate experience, Mrs. Fowden has represented some of the largest owners in the nation, including Metropolitan Life Insurance Company, KBS Realty Advisors, and Trammell Crow Company to name a few. Mrs. Fowden has closed over 750 transactions totaling over 6.5 million square feet of office leasing transactions across the Metroplex. While her recent focus has been within, Uptown, Downtown, Preston Center and Far North Dallas, she has completed transactions in nearly all submarkets across DFW. Through her guidance and leadership, Mrs. Fowden and her team increased the occupancy of Legacy Town Center I - III, a 522,000 rsf, Class A office project in Legacy Business Park, from 88% to 98% within 12 months and increased rates from $26 plus E to $25 net, which equates to a 31% increase. At 2100 McKinney, a 19-story, Class A office tower in Dallas, she and her team also increased rates from $32 + E to $40 NNN within 18 months.

Rhett started his career as a Tenant rep and Landlord broker at JLL in NYC in 2011 where he worked on a team of six including VTS Co-Founder Ryan Masiello and VTS Head of Business Development Andrew Flint. Rhett assisted in the leasing of a 2.5 million square foot portfolio in Downtown and Midtown Manhattan, while also advising technology and financial services clients in their real estate decisions. It was at JLL where Rhett found his love for real estate and technology, and from there he decided to make the jump to the start up world. Rhett officially joined VTS in the spring of 2013 and moved back home to Dallas in January of 2014 to open the Dallas office and oversee the Southeast Region. Rhett resides in Dallas, Texas but is in an airport or on an airplane about 50% of the time.