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Core Team |
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| Joshua Kahr |
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Joshua Kahr is the founder and principal of the company. He is a nationally recognized expert in real estate market analysis, finance, and investment. His primary responsibilities include managing the operations of the firm, business development, and overseeing projects. |
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| Consulting Experience |
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| Since he launched his consulting business in 2002, he has completed the following assignments: |
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Constructed numerous financial models for a wide range of real estate investments including condominiums, rental apartments, office buildings, industrial parks, and shopping centers. The firm is now established as a "go to" firm for the audit and review of existing financial models. Examples include a $200,000,000 three phase, mixed use transit oriented development in Salt Lake City and a $1,000,000,000 project in Bethesda, Maryland. |
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Developed leading workshops including "Advanced Pro-forma Modeling with Excel" and one for Argus, the dominant real estate financial package for real estate analysis. Outside of the manufacturer of Argus, we are the only company that provides regular courses nationwide. Clients include business schools (U. Chicago, Wharton, and Harvard), investment firms (Credit Suisse, Blackstone, and General Electric), industry organizations (Urban Land Institute), and conference organizers (Terrapinn Financial). He has personally delivered these seminars throughout the United States and in foreign location such as Tokyo, Dubai, London, Hong Kong, and Singapore. |
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Ran over 30 two day seminars for United States Environmental Protection Agency and affiliated State agency employees on how government officials could better work with the private sector to help redevelop environmentally contaminated properties. |
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Analyzed inequalities in the tax assessment system for New York City's commercial real estate. It concluded that properties were under-assessed by approximately 40% relative to the City's own published guidelines. This study received significant local press; it took up half a page on page 2 of the New York Post, New York City's largest circulation daily, on 12/3/2004. |
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| Previous Work Experience |
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| The last traditional job that he held before dedicating himself full time to his consulting business was as Director of Research at The Steven L. Newman Real Estate Institute at Baruch College. His key responsibilities were to originate and manage research projects that would further the mission of the Institute. He left this position in mid-2004. |
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| After working on the "buy side" of the business, he applied his skills to the "sell side" as a Senior Director in the Real Estate Investment Banking division at GVA Williams. His work involved the identification of potential acquisition opportunities, the management of dispositions, and the supervision of transactions. While there, he sold 18 properties for a Fortune 100 client including 510 Fifth Avenue, New York, NY. This 62,000 SF office building deal was nominated for REBNY's "2000 Most Ingenious Deal of the Year Award" |
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| Previously, he was a Senior Analyst at Brookhill Redevelopment. Brookhill Redevelopment was funded by Credit Suisse First Boston and specialized in the purchase and remediation of environmentally contaminated properties. He was responsible for the research, due diligence, and financial modeling of potential acquisitions. The company was formerly known as Dames & Moore/Brookhill.
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His career in institutional real estate began at SL Green Realty Trust, a real estate investment trust that owns and manages Class B office buildings in New York City. As an Analyst, he conducted financial analysis in support of their acquisition efforts and assisted in the preparation of documents for their initial public offering. |
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| Academic Experience : He is on the faculty at Columbia University as an adjunct associate professor and New York University as an adjunct assistant professor. He currently teaches the year long real estate finance course in Columbia's MS in Real Estate program to all of the approximately 100 students. He has taught other real estate subjects including real estate market analysis. |
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| Publications: In addition to articles that have appeared in academic and business journals, he is the author of the textbook, Real Estate Market Valua tion and Analysis (John Wiley and Sons: 2005). He also wrote a book on the state of the housing market, Beyond the Bubble (Amacom Books: 2007) and is currently at work on a third book on real estate modeling using Excel. |
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| He has been widely quoted on real estate finance, investment, and development in such national periodicals as The New York Times, The Wall Street Journal, and The Christian Science Monitor. |
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| Education and Affiliations: He has a Master of Science in Real Estate from New York University and a Bachelor of Arts in Economics from Reed College. He is on the Board of Directors for Monmouth Real Estate Investment Corporation (Nasdaq: MNRTA), a publicly traded Real Estate Investment Trust. |
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| He is licensed as a Real Estate Broker and Real Estate Instructor in the State of New York. |
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| J.J. Feifer |
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Jonathan Feifer joined Kahr in 2006. Mr. Feifer brings with him several years of experience in the real estate industry. His real estate career began in Montreal, Canada where he worked as an analyst for a residential development company. In his role, he performed extensive market and feasibility analysis on several residential and mixed use projects, and worked closely with the company principal in the debt and equity |
| structuring. Following this, Mr. Feifer worked for a private equity firm based in Toronto Canada as an asset manager for a $45 million mixed-use portfolio. Through his extensive network, Mr. Feifer was instrumental in establishing a partnership between his employer and a major developer in Toronto, Canada that resulted in the execution of over $50 million in real estate development projects. |
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| In his current role as an associate at KRES, Mr. Feifer works closely with a wide range of different clients on the financial execution of both development and acquisition projects. |
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| Mr. Feifer received a BA in Industrial Relations from McGill University and a Masters in Science. in Real Estate Finance and Investments at New York University. Mr. Feifer is also an active member of the New York Chapter of the Urban Land Institute where he serves on the programming committee for Young Leaders in the Real Estate Industry. |
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| Greg Easton |
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Greg Easton joined Kahr in 2007. His current responsibilities within the organization include working on the firm's joint venture investment opportunities, actively participating in the company's consulting platform, and running training classes in Argus and Excel.
Since joining the firm, he has completed a variety of tasks including developing a financial model for the analysis of a mixed-use multiphase development project, building Argus valuations for 100+ asset portfolio of assets for an institutional fund manager, and creating a land development model which was used to obtain financing for a 3,200 unit subdivision project.
In a prior position at a leading consulting firm, Greg specialized in affordable housing development. He helped structure and secure tax-exempt bonds and Low Income Housing Tax Credits for projects throughout the United States. Deals ranged from "80-20" deals in New York City to mixed-use development projects in Los Angeles.
Greg earned his Bachelor of Science in Economics from the University of Wisconsin-Madison and is currently enrolled in New York University's Master of Science in Real Estate program.
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| Michael Stratta |
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Michael Stratta joined Kahr in 2008. Prior to joining Kahr, he worked for PricewaterhouseCoopers Real Estate Business Advisory Services where he performed CMBS and CRE CDO due diligence, as well as assisted the CMBS and CRE CDO bond modeling team with their proprietary VBA-based financial models. While at PwC, Mr. Stratta also developed sales comparable reports, market analysis studies, and valuation opinions. Previously, Michael was an analyst with the Burlington Capital Group, an investment bank, and the America First Real Estate Group, a property development, acquisition, financing and management firm.
Mr. Stratta received his BBA with Honors from the University of San Diego, where he studied Business and Computer Science.
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| Jules Pearne |
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Jules Pearne joined Kahr in 2008. Prior to joining Kahr, she consulted for The Energy Coordinating Agency, a non-profit enterprise that worked to make low-income housing energy efficient. Jules co-founded YouthBank, a micro-business incubator for underserved street youth in Lagos, Nigeria.
Ms. Pearne graduated from The Wharton School at the University of Pennsylvania with a Bachelor of Science in Economics and dual concentrations in Real Estate and Sustainable Development.
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