People on the Move: Where are they now?
- Apr 03, 2014
PMC Selects Felgar As new President
Philadelphia—Lee John Felgar has been named president of Pennrose Management Co. (PMC), the wholly owned subsidiary of Pennrose Properties LLC. His new position will oversee the company’s professional management services for its more than 150 affordable, market-rate and senior residential communities in nine states. He succeeds Robert Lampher, who is completing a seven-year tenure.
“Lee has an impressive track record of leadership and value-added contributions, and we couldn’t be more pleased to welcome him to the Pennrose team,” said Mark H. Dambly, president of Pennrose Properties LLC.
“His range and depth of experience will perfectly complement our expertise and offerings. We’re looking forward to his stewardship in helping to take the company to the next level.”
Felgar joins PMC after serving as president of Boston-based Preservation Housing Management LLC, the housing operations company of Preservation of Affordable Housing Inc. Before that, he held senior executive positions with Volunteers of America, as well as with the National Housing Partnership, Cardinal, and other conventional and affordable multifamily companies.
Felgar also has experience in organizational development and reorganization, and has held financial planning positions with Fortune 100 companies. Early in his career, Felgar served as first lieutenant in public policy for the United States Air Force.
Taconic Investment Partners Taps Peter Febo to Serve as COO
New York—Taconic Investment Partners has appointed Peter Febo Chief Operating Officer. In this position, Febo plays an integral role in the implementation of Taconic’s business plan, directing the company’s 85-person in-house team and communicating with all asset, development and construction managers to ensure due diligence and strategies are in place.
Febo oversees residential, commercial and retail property development; construction projects and commercial and residential asset management, including Taconic Management Company, Taconic’s wholly owned property management and leasing subsidiary. He reports directly to co-CEOs Charles Bendit and Paul Pariser.
The introduction of the COO position represents Taconic’s continued and strategic growth across its various business lines. Most recently, the company began working on Essex Crossing, a mixed-used, urban renewal project on the Lower East Side that was awarded as a partnership among Taconic, L&M Development Partners, BFC Partners and The Prusik Group by the City of New York in September 2013.
Current projects also include The Sterling Mason at 71 Laight Street, a highly amenitized new boutique condominium involving the renovation of a landmarked warehouse and integration of cutting-edge, ground-up construction; 619 W 54th Street, a historic Art Deco property, which the firm has re-positioned and re-tenanted on the ground floor with Maserati; and 837 Washington Street, a six-story, 55,000-square-foot office and retail building located in the evolving Meatpacking District.
Taconic is also in the process of
rezoning 525 West 52nd Street to allow residential development, with plans to develop a 400-unit luxury rental building under New York State’s 80/20 market-rate/affordable housing program.
Prior to joining Taconic, Febo was the regional vice president for the New York-New Jersey metro region at Home Properties, overseeing the development and management of a 44-property, 8,500-unit portfolio valued at more than $1 billion. Before that, he was the Director of Investments for Midwest and East Coast assets at AvalonBay Communities and Senior Property Manager at Tishman Speyer Properties, where he was responsible for the redevelopment of 666 Fifth Avenue.
Susan Tjarksen Joins Kiser Group As Senior Managing Director
Chicago—Chicago-based Kiser Group announced that Susan Tjarksen has joined the firm as senior managing director. She brings 30 years of industry experience to the organization.
In 2008, Tjarksen founded Chicago-based STAR LLC, a national real estate firm she continues to operate that specializes in receivership, asset management, debt restructuring, refinance and brokerage services. As managing partner at Aries Real Estate Development in Chicago, she consults on all areas of real estate development. She has held management positions at real estate development companies in Florida and Chicago.
“This move will build our presence in the investment community through Susan’s extensive connections and relationships with national private and public financial institutions and investors. With the commercial real estate recovery, our firm has grown tremendously in the past year, and this hire will facilitate even more growth for 2014,” said Estella Kiser, principal of Kiser Group.
Tjarksen has a wealth of knowledge in the areas of receiverships and bankruptcy. During her career, she has planned, built, designed, financed and delivered projects totaling over $1.5 billion in revenue. Working with private clients and institutional firms, she has successfully zoned, built and sold 12,000 residential units, 2,500 hotel rooms and over 1 million square feet of retail and office space.
“There is robust investor demand for multifamily properties,” Tjarksen said. “As a result, I’m focusing more on brokerage, and I chose to affiliate with Kiser Group because it’s the best fit for me and my clients. My goal is to grow Kiser Group’s business by helping clients achieve their investment real estate goals.”
Berkadia Promotes Ernie Katai to Head of Production
Horsham, PA—Berkadia Commercial Mortgage announced the promotion of Ernie Katai to executive vice president and head of production. He succeeds Karl Reinlein, who is stepping down from day-to-day production management after 17 years of service.
Katai was formerly a senior vice president and branch manager of Berkadia’s Detroit office. He will now be responsible for the oversight of Berkadia’s national origination network, which spans more than 50 offices nationwide. Reinlein will remain with the company to work with Katai on strategic projects and role transition.
Katai has more than 30 years of experience in the commercial real estate industry and expertise with all major property and loan types. He has been with Berkadia and its predecessor companies since 1995 and became the Detroit office branch manager in 2003. Under his leadership, the Detroit office has placed $6.5 billion in loans, encompassing all property types with 75 different lenders in 25 states.
Additionally, Katai has worked with Hendricks-Berkadia, the company’s investment sales business unit, to help expand apartment investment sales and mortgage banking services for clients.
“Ernie has been an invaluable part of our company, and we know that he’s going to bring the same passion and leadership to this new role as he did to the Detroit office,” said Hugh Frater, CEO of Berkadia.