Pittsburgh State of the Market

As President and Chief Operating Officer, Lucas Piatt’s responsibilities are to oversee commercial, retail and industrial leasing activities, identify and develop new business for the corporation as a whole and direct the short and long-term marketing goals of Millcraft Investments and its subsidiaries. Mr. Piatt brings to Millcraft knowledgeable experience in the areas of project management in commercial and residential construction as well as many aspects of leasing and land planning. Mr. Piatt’s work history leaves him experienced in sales and marketing, contract negotiations, material purchasing and logistics, inventory control, building maintenance, space planning, interior design and real estate development.

Autumn R. Harris has over 15 years of commercial real estate finance experience with both institutional banks and arranging finance for a private commercial real estate owner and developer. Autumn has served as Director of Finance for a private commercial real estate owner and developer since 2015. As such she was responsible for managing the debt portfolio inclusive of construction project loans, property acquisition loans, refinance and oversight of the existing loan 70 plus property portfolio. Prior to joining this private owner/developer Autumn spent 10 years with institutional banks including PNC Bank and RBS Citizens within the Pittsburgh and Philadelphia markets. She served most recently as a Relationship Manager for PNC Bank's Institutional Commercial Real Estate Lending department. As a banker, Autumn has been responsible for financing office, retail, apartment, warehouse/industrial and hospitality projects. During her time in institutional banking she completed the RBS Citizens Credit training program, managed a portfolio with loan sizes ranging from $5MM-$150MM, has prepared credit approval packages for loan approval and managed a portfolio of loans to private developers and Real Estate Investment Trusts (“REITS”), including involvement with the syndication department. Autumn’s experience in institutional banking combined with financing for a private owner/developer has provided her an intense knowledge of collateral evaluation, loan structure, regulatory compliance, cash flow projections, exit scenarios, market analysis and organizational structure. Autumn is very active in the commercial real estate industry and has established long term relationships with capital providers through her active involvement. Autumn currently serves as the immediate Past President on the board of Commercial Real Estate Women (“CREW”) Pittsburgh. She has been involved with both the Pittsburgh and Philadelphia Chapters of CREW since 2003, serving board seats inclusive of President, President Elect, Program Director, Public Relations Committee Co-Chair, Delegate for CREW Network (an international organization with over 10,000 members), and Nominating Committee for CREW Network. Autumn is also an active member of NAIOP Commercial Real Estate Development Association since 2011 and has been active with the Urban Land Institute (“ULI”) and International Council of Shopping Centers (“ICSC”). She also has her Real Estate Salesperson license which she obtained in 2007. Autumn Harris started her career with a boutique commercial real estate investment bank out of Philadelphia in 2003 and is a graduate of Temple University’s Fox School of Business.

Ethan Fellheimer has been active in real estate acquisition and development for over 10 years. In 2000, Fellheimer founded The Fellheimer Group which was responsible for the development of the former Bookbinders Building at South 15th Street, in Philadelphia, Pennsylvania. Other significant Philadelphia area development/acquisition deals include: 1401 Walnut Street, The Shops at Lasalle University, 211 North 13th Street, The Essex Condominiums at 300 North Vine Street, among others. Prior to engaging in real estate full time, Mr. Fellheimer spent seven years as Senior Vice President of Pennsylvania Business Bank as a commercial lender and Head of Marketing. Fellheimer was selected as one of the Philadelphia regions "40 under 40" young business leaders and in 2000 received Philly Tech Magazine's "30 under 30" award. Mr. Fellheimer remains active in the business community of Philadelphia, and is often a lecturer at universities and the Pennsylvania Bar Institute regarding entrepreneurial endeavors, networking, and legal issues of debtor/creditor law. Fellheimer serves on the Board of Directors of Albert Einstein Healthcare Network and Jewish Federation of Greater Philadelphia. He received his undergraduate degree from the University of Pennsylvania and received his law degree from Temple University School of Law. He lives in the suburbs of Philadelphia with his wife and two children.

Obsessed with anticipating the future and learning from the past to optimize the present, Anne Chen, AIA, LEED AP is inspired by resourceful and imaginative pioneers, from Jonas Salk and Madeleine L’Engel to Malcolm Gladwell. Anne oversees operations at GBBN’s Pittsburgh office and leads design efforts for academic, workplace, civic, and cultural projects. Known for her ability to connect vision, space, and experience, Anne has led transformative and award-winning projects for the Carnegie Library of Pittsburgh, among others. Other recent projects include the University of Pittsburgh’s Hillman Library and Gateway Station. Her curiosity for making and desire to utilize and promote current technologies have led to the integration of digital and off-site fabrication methods into the firm’s work. Anne co-leads GBBN’s annual Design Expedition (DX) trips exploring architecture and design across the globe.

Mr. Altman is a Shareholder and Director, and a member of SGK’s Corporate, Real Estate and Financial Services Groups. Mr. Altman specializes in counseling companies and individuals on a broad range of transactional matters, and has particular expertise in representing companies in connection with M&A activity, and owners/investor groups in connection with the acquisition, funding, operations and disposition of professional sports teams and commercial real estate. Mr. Altman has also been selected by Super Lawyers Magazine as “Pennsylvania Rising Star” for Mergers and Acquisitions from 2014 through 2020.

Over the past thirty years, visionary entrepreneur Jim Scalo has built one of the largest integrated real estate businesses in Western Pennsylvania, Burns & Scalo Real Estate Services, Inc. (BSRES), which currently owns, manages, and provides third-party real estate services to more than 5 million square feet of commercial real estate assets. Following his graduation with a degree in Marketing from Indiana University of Pennsylvania in the early 80’s, Jim Scalo began his career as a manager of a small portfolio of rental investment properties owned by Burns & Scalo, a roofing company started in 1956 by his father and a partner. Soon, he expanded that residential rental business by taking on the management of larger properties and acting as a commercial developer. He was later named Director of Development, and in recognition of his contributions to growing the firm, in 1994 he was named President and CEO of Burns & Scalo Real Estate Services, Inc. – a company for which he now owns 100% interest. Jim Scalo has been largely self-taught in the real estate business, a fact that has served him well in building his current service and investment businesses exponentially. He often states that people hire BSRES due to the invaluable experience the firm has gained through investing and managing real estate with his own capital - as an owner – a fact that few other real estate service companies can claim in offering real value for their clients. Jim was a pioneer in the early development of ‘flex’ space, a combination of office and warehouse space joined together to create efficiency. He has been highly successful in bold real estate investments throughout the region, serving the worlds largest clients by controlling ‘key’ land parcels in suburban business parks. He is often quoted “We have built our portfolio with the common underwriting criteria of “term, credit, rate”. This has served BSRES well through the cycles of investment. In 2009, as a testament to Jim’s commitment to better development through sustainability, he trademarked “Class-G”. A program which was launched in 2012 as a new national business (www.Class-G.org) that focused on green building certification for sustainability in operations and corporate culture. The company has developed projects in key targeted markets such as Pittsburgh, Indianapolis, Raleigh, Cincinnati and Louisville. Jim continues to push the boundaries of his firm through innovation and strategic growth, and has market-changing projects currently under development in new locations. Born and raised in Pittsburgh, Pennsylvania, Jim Scalo is active in professional, community and charitable organizations. He is the former president and national board member of the National Association of Industrial and Office Properties (NAIOP). Jim is also married and is the father of four children.

Mr. Walsh is Chief Operating Office and Principal with Rugby Realty Co., Inc. He manages all aspects of the day-to-day operations of the Pittsburgh Portfolio. He joined Rugby in 2003 after a successful career developing CVS/pharmacy drug stores across the country for Armstrong Development, headquartered in Pittsburgh. Born and raised in Pittsburgh he has a Masters in Public Policy and Management with a concentration in Urban and Regional Economic Development from Carnegie Mellon University.

Maura Kennedy serves as Director the Department of Permit, Licenses, and Inspections (PLI.) PLI provides the business licensing, code enforcement, and construction permitting functions for the City of Pittsburgh. During her tenure, Maura has modernized the Department - improving the customer service and safety standards while Pittsburgh experienced a business and construction boom. Previously Maura worked for the City of Philadelphia where she ran the construction permitting and business licensing division. She also started a nationally recognized strategy that sought to reduce the number of vacant, abandoned structures in Philadelphia by improving private property maintenance standards. Maura graduated from Cornell University with a bachelor’s degree in Government and has a Master’s in Business Administration from the University Of Pennsylvania Wharton School Of Business.

Neil Beldock has over 30 years of experience as a real estate finance professional. Over those 30+ years Neil has held positions at Citigroup, Coast Federal Bank of California, Independence Bank of Los Angeles, Family Savings Bank of Los Angeles, Hamburg Savings Bank of New York, Interbay Funding and Velocity Commercial Capital. Neil has held executive and senior level management positions covering loan originations, loan operations, loan servicing, secondary marketing, loan securitization and joint venture operations. Neil is also a published author having written articles for numerous mortgage industry publications including the Scotsman Guide, Commercial Mortgage Insight, The Mortgage Press and National Mortgage Broker Magazine. Currently, Neil serves as a Senior Executive at Pender Capital Funding in Dallas, Texas.

Carolyn McMullen, senior vice president, is responsible for multifamily and healthcare loan originations for the FHA Finance group. Ms. McMullen is based out of Walker & Dunlop’s Chicago office. Over the course of her career, Ms. McMullen has originated, structured, and closed more than $1 billion in volume. Her experience includes tax exempt bond and tax credit transactions as well as loans structured with Fannie Mae, Freddie Mac, HUD, and bridge lenders. Prior to joining Walker & Dunlop, Ms. McMullen was a regional manager at Prudential Huntoon Paige where she was responsible for staffing and managing the Midwest mortgage banking office, specializing in FHA mortgage banking originations and originating loans. Before joining Prudential Huntoon Paige, Ms. McMullen was a director at GMAC Commercial Mortgage and responsible for mortgage banking and investment banking originations. Ms. McMullen also worked nearly ten years for Red Capital (formerly Banc One Capital Corporation). Ms. McMullen received a Bachelor of Arts from Hampshire College, a Ph.D. and master’s degree from Princeton University, and a Master of Business Administration from the University of Chicago.

Dusty concentrates her practice on all aspects of real estate development, acquisitions and economic incentives, with an emphasis on real estate litigation, including real estate tax-assessment appeals, land-use and zoning appeals, and eminent domain proceedings. Dusty counsels her clients on an array of sustainability issues that impact development projects and facilities, including advice on sustainable development matters such as the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED) rating system, and regulatory compliance matters such as greenhouse gas emission regulations, obtaining other regulatory approvals, negotiating complex contractual arrangements, resolving disputes, and managing risk avoidance. Dusty's work in real estate development includes handling the acquisition, financing and tax increment financing for commercial, retail, office, industrial and institutional properties, and obtaining economic incentives for development projects. She regularly handles issues involving public-private partnerships, and transportation issues including highway occupancy permits. She represents real estate developers, property owners and nonprofit institutions in real estate assessment appeals of industrial, commercial, office, retail and exempt properties in issues regarding valuation of real estate, tax-exempt status, taxation of mineral rights, and tax abatements for newly constructed and reconstructed properties. Dusty litigates matters throughout Pennsylvania before administrative hearing boards, as well as in trial and appellate proceedings. Dusty's general real estate practice involves negotiating with local tax jurisdictions on tax-increment financing, transportation and highway occupancy permits, and business and neighborhood improvement districts. She also represents property owners in realty transfer tax and sales-and-use tax matters, prepares loan and loan- workout documents for both lenders and developers, and negotiates sales agreements.