U.S. Real Estate

Overview

We seek income and capital appreciation through a diverse portfolio of real estate investments.

HMC and its affiliates have owned, developed and managed multifamily, office, industrial, retail and hotel properties throughout the southeastern and southwestern United States. HMC has a history of identifying real estate investment opportunities through its network of long-term, strategic relationships.

Our approach is hands-on, targeting properties that we believe are undervalued, and where value can be created through focused operational and financial management. We seek smaller, more entrepreneurial transactions, typically between $20 million and $80 million, that are too large for individual investors but too small for the larger funds.

Investment Team

Raymond J. Harbert
Chairman & Chief Executive Officer

Raymond J. Harbert

Raymond J. Harbert has served as Chairman and Chief Executive Officer of Harbert Management Corporation, an alternative asset investment management firm, since it was organized in 1993.

Mr. Harbert began his career with Harbert International, Inc., a subsidiary of Harbert Corporation, in 1982 where he held various positions. Subsequently, Mr. Harbert served as Vice President of Business Development and then as President of Harbert Properties Corporation, Harbert Corporation’s real estate subsidiary. In December 1988, he was elected Vice President of Harbert Corporation, where he had overall responsibility for the firm’s investment portfolio. In July 1990, he was elected President and Chief Executive Officer of Harbert Corporation, which brought the remainder of the firm under his management.

Mr. Harbert serves on the Board of Trustees of Auburn University, where he is the past President Pro Tem. Mr. Harbert also serves on the Board of Trustees for the Robert Meyer Foundation. He serves on the Board of Trustees and is a member of the Executive Committee of Children’s Hospital of Alabama. In addition, Mr. Harbert serves on the Board of Directors and the Executive Committee for Birmingham Business Alliance. He also serves as a member of the President’s Advisory Board of the University of Alabama at Birmingham and is a member of Chief Executives Organization. Mr. Harbert is a past member of the Board of Trustees for the Alabama Trust Fund, Alabama Business Hall of Fame Nominating Committee, Leadership Alabama, Young Presidents’ Organization, and a former Alabama State Chairman for YPO.

In 2006, Mr. Harbert was awarded the regional Ernst & Young’s Entrepreneur of the Year Award for Financial Services. Mr. Harbert holds a Bachelor of Science degree in business from Auburn University. He and his wife, Kathryn Dunn Harbert, have three children.

Michael P. White
Vice President & Senior Managing Director

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Mr. White has worked on the HMC U.S. real estate team since its inception in 1994. Mr. White joined Harbert International, Inc. in 1983 and held various positions in its construction division until 1986, when he moved to Harbert Properties Corporation, where he ultimately became Vice President of Development and Finance of Harbert Properties Corporation. In 1994, Mr. White joined The Harbinger Group, Inc. (now Harbert Fund Advisors, Inc.), a subsidiary of HMC, and served as Chief Operating Officer and was actively involved in the development and implementation of HMC’s alternative investment strategy. Mr. White served in this role until 1998, when he assumed overall responsibility for HMC’s U.S. real estate investment activity. Mr. White has acquired over 4.0 million square feet of office space, over 4,800 apartment units, 3.2 million square feet of industrial real estate, 473,000 square feet of retail space, and 1.5 million square feet of self-storage property as fund managers for HMC’s U.S. real estate strategies. These acquisitions and developments represent over $1.0 billion in transactions. He serves as a Board Member of the Alabama School of Fine Arts Foundation and the University of Florida’s Center for Real Estate Studies. Mr. White holds a Bachelor’s degree in Civil Engineering from the University of Florida.

mwhite@harbert.net

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Jon-Paul Momsen
Vice President & Senior Managing Director

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Mr. Momsen is a Vice President and Senior Managing Director, co-managing the US Real Estate platform at HMC. Mr. Momsen joined HMC in 2008 as a Managing Director to open HMC’s San Francisco, California office. Prior to joining HMC, Mr. Momsen worked at Deutsche Bank, where he served as Director and Head of the West Coast for the RREEF Real Estate Opportunity Fund Group. Before that, Mr. Momsen was with Deutsche Bank as a Vice President in the Real Estate Private Equity Group in New York. Prior to Deutsche Bank, Mr. Momsen was with Bankers Trust Company in the Real Estate Investment Banking Group.

Mr. Momsen has acquired or developed over 5.5 million square feet of office space, 4,000 apartment units, 6,440 hotel rooms and 750 condominium units. These acquisitions and developments represent approximately $2.5 billion in transactions.

Mr. Momsen graduated Magna Cum Laude and Phi Beta Kappa with a Bachelor of Science in Finance from the Wharton School of Business and a Bachelor of Arts in Political Science from the University of Pennsylvania. Mr. Momsen also graduated Beta Gamma Sigma with a Master of Business Administration degree from Columbia Business School.

jmomsen@harbert.net

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Todd N. Jordan
Managing Director

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Mr. Jordan joined HMC in 2003 as an Associate rising to Director of Investments in 2007 and Managing Director in 2012. Mr. Jordan directs HMC’s U.S. real estate acquisitions for the Southeast and Mid-Atlantic regions. He has directed the transaction management, underwriting analysis and due diligence on over 4.6 million square feet of office space, 3,500 multifamily units, 2.4 million square feet of industrial real estate and 1.0 square feet of retail space for HMC’s U.S. real estate strategies. These transactions represent over $1.0 billion in transactions.

Prior to joining HMC, he worked for PricewaterhouseCoopers LLP, advising real estate clients ranging from public REITs to private investment funds. Mr. Jordan graduated Magna Cum Laude and Beta Gamma Sigma with a Bachelor of Science in Accounting and a Master of Tax Accounting degree from the University of Alabama. He also holds a Master of Business Administration degree from the University of Georgia. Mr. Jordan is a Certified Public Accountant.

tjordan@harbert.net

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Adam Krug
Managing Director

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Mr. Krug joined HMC in 2015 as a Managing Director and is responsible for the firm’s investment activities in the Central region.

Previously Mr. Krug founded Krug Interests, LP, a real estate investment advisory firm providing transactional sourcing, diligence, and structuring services to private equity and institutional investor clients. Before starting his own firm, Mr. Krug served as Senior Managing Director of Hayman Woods, a residential focused investment and development firm. Prior to Hayman Woods, Mr. Krug was a co-founder of Scala Real Estate Partners and served as Vice President of Investments for Hillwood Capital, a Perot Company. Mr. Krug began his career as an analyst for Donaldson, Lufkin & Jenrette, an investment bank.

Mr. Krug has directed the acquisition, development or management of over 1,200 apartment units, 600,000 square feet of retail, 500,000 square feet of mixed-use, 1,300 acres of commercial land and 8,300 residential lots in 12 master-planned communities. These transactions represent over $900 million of invested capital.

Mr. Krug holds a Master of Business Administration degree from the Wharton School at the University of Pennsylvania and Bachelor of Business Administration and Bachelor of Arts degrees with honors from the University of Texas.

J. Travis Pritchett
Vice President & Senior Managing Director, Global Real Estate Strategies

Travis Pritchett

 

Mr. Pritchett is a Managing Director of HMC. Mr. Pritchett joined HMC in 2005 as an Associate rising to Director of Investments in 2008 and to Managing Director in 2012. Mr. Pritchett directs HMC’s U.S. real estate acquisitions for the Central region and South Florida. Mr. Pritchett has directed underwriting analysis, due diligence, and transaction management on over 1.65 million square feet of office space, 1,700 apartment units, 150,000 square feet of mixed-use real estate, and 1.5 million square feet of self storage space. These acquisitions represent over $430 million in transactions. Mr. Pritchett’s responsibilities at HMC have included financial analysis, acquisitions, dispositions, financings, day-to-day asset management of the company’s real estate investments and fund raising.

Prior to joining HMC in 2005, Mr. Pritchett completed a Master of Business Administration at the University of North Carolina’s Kenan-Flagler Business School as a Kenan-Flagler Merit Fellow. He also holds a Master of Environmental Management (M.E.M.) with a concentration in Coastal Management from Duke University. His MEM master’s thesis was published in the textbook, The Biology and Management of the World Tarpon and Bonefish Fisheries.

Prior to graduate school, Mr. Pritchett worked as a Portfolio Analyst for Trusco Capital Management. Prior to Trusco, he received a BS in Biology from Davidson College where he was a four year letter winner on the tennis team.

tpritchett@harbert.net

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Andrew S. Case
Director - Asset Management

Andrew Case

Mr. Case is a Director of Asset Management. He joined HMC in 2007 as a Senior Analyst working on both acquisitions and asset management. In 2009, he was promoted to Asset Manager where he focused solely on the implementation of asset specific business plans, financings, dispositions and monitoring asset performance of the company’s real estate investments. Mr. Case currently manages and oversees a diverse real estate portfolio of office, multifamily, industrial and retail assets.

Prior to joining HMC, Mr. Case worked for KPMG LLP in their Mergers & Acquisitions group. He holds a Bachelor of Science degree in Accounting and a Master of Accounting degree from the University of Tennessee. Mr. Case is a Certified Public Accountant. He has served on a number of non-profit boards including the Rotaract Club of Birmingham, the Harbert Center’s Management, Inc. Board, the UAB Comprehensive Cancer Center’s Young Supporters, and the Birmingham Museum of Art Junior Patrons. Mr. Case was selected as a participant in the 2011 Leadership UAB Class and the 2011 Birmingham MS Leadership Class.

acase@harbert.net

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Tom Tewksbury
Director - Asset Management

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Mr. Tewksbury joined HMC in 2015 as a Director of Asset Management and is responsible for the firm’s assets in the Western region. He focuses on the implementation of asset specific business plans, financings, dispositions and monitoring asset performance of the company’s real estate investments. Mr. Tewksbury currently manages and oversees a real estate portfolio of office, multifamily, and R&D assets.
Previously Mr. Tewksbury held a variety of positions at SKS Partners, a San Francisco based developer and operator. In his most recent role as Director, he was in charge with the negotiation and structure of individual project capitalizations both equity and debt. He managed equity and debt relationships on an ongoing basis through capital calls, loan draws, asset management updates and general reporting requirements. In addition, he oversaw acquisition underwriting and dispositions totaling over $1.1B and analysis of over 200+ potential projects.
Mr. Tewksbury holds a Master of Business Administration degree from the Haas School at the University of California, Berkeley and a Bachelor of Arts degree in Economics from Ohio Wesleyan University. He is also a licensed California Real Estate Broker.

Craig L. White
Director - Investments

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Mr. White rejoined HMC in 2010 as an Associate for the San Francisco, California office rising to Director of Investments in 2014. In September 2014, Mr. White relocated to the HMC Headquarters in Birmingham, Alabama to direct HMC’s real estate acquisitions for the Mid-Atlantic region and Florida. He has directed underwriting analysis, due diligence and transaction management on 1.0 million square feet of office space and over 3,600 multifamily units for HMC’s U.S. real estate strategies. Mr. White’s responsibilities at HMC have included financial analysis, acquisitions, dispositions, financings and day-to-day asset management of the company’s real estate investments.

Prior to joining HMC, he served as Assistant Vice President in the National Real Estate group at Regions Financial. He also was an Analyst with HMC’s European Real Estate team from 2005 to 2007. Mr. White holds a Bachelor of Science degree from Auburn University and a Master of Business Administration degree from Vanderbilt University. Mr. White is also a Board of Director for Camp Smile-A-Mile, Alabama’s program for children with cancer and an Advisory Board Member for Habitat for Humanity.

cwhite@harbert.net

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Melody T. Lewis
Asset Manager

Melody Lewis

Ms. Lewis joined HMC in 1997 to assist with portfolio asset management. Her previous experience includes work with the residential mortgage and funds management industries. Ms. Lewis received a Bachelor of Science degree from the University of Louisville. Ms. Lewis is a member of the Harbert Employees Reaching Out (HERO) Foundation Fundraising Committee.

 

James W. H. Brigham
Associate

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Mr. Brigham joined HMC in 2010 to assist in the areas of financial analysis and market research. He holds a Bachelor of Arts degree in Public Policy from Duke University and a Master of Management Studies degree from the Fuqua School of Business.

 

 

 

hbrigham@harbert.net

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Joseph A. Azar
Associate

Joseph Azar

Mr. Azar is an Associate in the Birmingham office for HMC.  He joined the U.S. Real Estate team as an analyst in 2012 to assist in the areas of financial analysis and market research.  Currently, he focuses on acquisitions, financings, and dispositions for the Southeast and Mid-Atlantic regions.  To date, he has been involved in the execution of more than $500 million in real estate acquisitions, development and construction.

Prior to joining HMC, Mr. Azar worked as a Project Engineer for international contractor, Caddell Construction.  He holds a Bachelor of Science degree in Management from the University of Alabama.  Additionally, he currently serves as a board member on the UAB Comprehensive Cancer Center’s Young Supporters and the Harbert Employees Reaching Out (HERO) Foundation.

jazar@harbert.net

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Brandon J. Cohen
Associate

Brandon Cohen

Mr. Cohen joined HMC in 2012 as an Associate within the Asset Management group to perform analysis on existing investments, dispositions and refinancings for the company’s U.S. real estate funds. Prior to joining HMC, he worked for Grandbridge Real Estate Capital as a Commercial Real Estate Analyst and was involved in placing debt on various commercial real estate property types. Mr. Cohen is a CFA Level III candidate and holds a Bachelor of Business Administration degree in Finance and a Master of Business Administration in Real Estate and Finance from the University of Alabama.

bcohen@harbert.net

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Thomas N. Short
Associate

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Mr. Short joined HMC in 2013 to assist in the areas of financial analysis, acquisitions, market research, and asset management. Prior to joining HMC, he served as Analyst, Senior Analyst, and Associate at Clarion Partners (formerly ING Clarion Partners). To date, Mr. Short has been involved in over $1.1 billion worth of real estate acquisition and development transactions and $400 million in disposition transactions. He holds a Bachelor of Business Administration degree in Finance from Southern Methodist University.

tshort@harbert.net

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Investment Criteria

Our investment process centers on “value enhancement” strategies. We target real estate investments that we believe possess cash flow potential and may benefit from the implementation of a rigorous, value-added asset management plan. This plan may involve capital improvements, expense reduction, proactive leasing, capital restructuring or asset repositioning.

We seek to invest in quality, mid-size ($20 million to $80 million), Class A and B office, multifamily, retail and industrial properties.

Our geographic focus is primary and secondary markets in the Mid-Atlantic, Southeast and Southwest regions of the United States, which possess diversified economies, meaningful population growth and strong employment growth.

Contact
HARBERT UNITED STATES REAL ESTATE
BIRMINGHAM OFFICE

2100 Third Avenue North, Suite 600
Birmingham, Alabama 35203
Contact:
Michael White
Vice President & Senior Managing Director
mwhite@harbert.net
205-987-5738

SAN FRANCISCO OFFICE

575 Market Street, Suite 2925
San Francisco, California 94105
Contact:
Jon-Paul Momsen
Senior Managing Director
jpmomsen@harbert.net
415-442-8380

DALLAS OFFICE

200 Crescent Court
Suite 440
Dallas, Texas 75201
Contact:
Travis Pritchett
Managing Director
tpritchett@harbert.net
214-756-6590