Salt Lake City State of the Market

Arthur Woodbury joined Woodbury Corporation in April 2012. He is chief investment officer of Woodbury Corporation and managing director of the Woodbury Capital funds. Arthur oversees equity financing for new Woodbury investments as well as fund and asset management of all Woodbury sponsored funds (five funds totaling approximately $600 million of equity commitments). Arthur also co-manages the development and acquisitions team at Woodbury. Prior to joining Woodbury Corporation, Arthur spent four years working in the real estate private equity teams at the Blackstone Group (BREDS) and with Goldman Sachs (REPIA) in London where he had transaction experience in excess of $6 billion. Arthur has a B.A. in International Relations from the University of Pennsylvania with a minor in Urban Real Estate Development in conjunction with the Wharton School and a Masters in Finance and Strategy from l’Institut d’Études Politiques de Paris (Sciences Po).

Stephen is a Founding Principal of Urban Alfandre and brings over 16 years of real estate acquisition, development, finance, and operational experience to the company. Recently he led the acquisition and development efforts for the Toll Brothers City Living office in Washington DC where he sourced all types of urban residential deals in multiple submarkets. Prior to Toll Brothers, Stephen worked with the Bozzuto Group where he managed multiple infill residential developments. He also spent time working in various real estate consulting and development roles in Salt Lake City prior to moving back east. Stephen received an MBA in real estate and entrepreneurship from Georgetown University and a bachelors degree in Urban Planning from Brigham Young University. He has served as a panelist on multiple DC-area real estate expert panels - including three times with Bisnow - and has also been featured in real estate articles in the Washington Post, Washington Business Journal, and Wall Street Journal. Stephen grew up in the Washington DC area and now lives in the greater Salt Lake City area with his wife and five children.

Jeff Grasso is the Founder & Managing Partner of Vesta where he is responsible for the firm’s management & strategy, investment implementation, and investor relations. Before launching Vesta, Jeff was Senior Vice President and Head of Acquisitions at Silverstein Properties, Inc., where he was responsible for sourcing, capitalizing, and executing over $10 billion of acquisition, development, and corporate investments in the United States, Europe, and Asia. Prior to joining Silverstein, Jeff worked in the portfolio management group of ING Clarion Capital, a $5 billion AUM real estate credit opportunity fund. He was responsible for the acquisition and asset management of an ABS portfolio in addition to acquiring and originating high yield whole loans. Jeff holds a B.S. in Accounting, Finance, and Real Estate from the Martin J. Whitman School of Management at Syracuse University. He resides in Salt Lake with his wife where he enjoys fly fishing, whitewater rafting, and embraces a “pay it forward” mentality with the local Utah community.

Jason Algaze is an 18-year veteran in the real estate investment and development industry, known for his unique blend of creativity, passion for building, and financial expertise. His extensive experience enables him to execute successful and profitable projects with a distinctive vision. Jason's multi-faceted development background allows him to select the right people and companies for each project, bringing out the best in every team member. His expertise spans the entire development process, including creating assemblages for acquisitions, investment analysis and deal structuring, understanding local zoning and entitlements processes, fostering public-private relationships with municipalities, developing innovative project design concepts, and assembling elite design, consultant, and construction teams for execution. In 2019, Jason founded Abstract Development Group as the new development affiliate backed by Bronstein Properties, a 50-year-old New York-based real estate family office. Shortly after, he expanded into the Salt Lake City real estate market, recognizing its tremendous growth potential. This led to a primary focus on the area and the development of local relationships throughout Utah over the past several years. Currently, Abstract Development has three projects in various phases of development: One Burton in South Salt Lake, 1345 South Jefferson in the Ballpark District, and another new South Salt Lake site in planning. One Burton is a recently completed 180-unit multifamily building with 220 parking spaces and 8,000 square feet of retail space in the heart of South Salt Lake's emerging downtown district. The project aims to elevate design standards in the market, showcased by its ultra mid-century modern architecture and interior design. Jason and his team at Abstract Development Group are committed to further expanding their footprint in Salt Lake and Utah, with a goal of building around 1,500 units over the next few years. Earlier in his career, Jason worked for a prominent New York and Miami-based development firm on over $10 billion in new projects, comprising over 8 million square feet and more than 8,000 residential units. These included notable developments such as a 1,400-foot tower with 44 ultra-luxury residences overlooking Central Park, New York City; a 45-story tower with 400 multifamily units in Long Island City, Queens, New York; a 45-unit boutique condominium and townhome building in SoHo, New York; and various luxury condominiums and rental buildings throughout the greater Miami and South Florida areas. He also has had experience with a real estate private equity firm focused on distressed investment opportunities and started his career in large loan real estate finance at Credit Suisse that covered a wide range of asset types throughout the country and select transactions abroad. Jason is a graduate of the University of Miami and holds an MA in real estate finance and development from New York University.