Horning has more than 15 years of real estate and investment experience, including the acquisition of more than $750 million in real estate in addition to the purchase of Telluride Ski and Golf Resort on Telluride, CO. He says that his new company "was the next natural step for my management team and me."
Newport Federal was founded by Horning's father, Chuck Horning, and will continue its operations with Chuck Horning at the helm. Chad Horning says his new firm will target a wide variety of real estate and business investment opportunities "on an expanded geographic and economic scale."
Chase Merritt will seek value-added and stabilized office, industrial and retail properties and land, as well as business ventures outside of the real estate sector similar to the Telluride Ski and Golf Resort in Colorado. The Chase Merritt senior management team includes Craig Camp, CFO; Steve Cohen, VP of acquisitions; Brad Redelsperger, VP; Tamarin Preston, director of legal affairs and Cindy Dopf, asset manager.
The new company's name derives from the names of Horning's grandfather, Merritt, and his son, Chase. The family's 35-year-old Newport Federal includes a wholly owned property management subsidiary, Signature Services.
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