Riley has orchestrated more than $200 million in property financings and transactions. His most recent effort was the company's $80 million sale of two Marriott Residence Inns in Burbank and Oceanside, CA. In both cases, R.D. Olson Development notes, it held the properties for less than a year after opening and achieved internal rates of returns in excess of 30%.
Riley's career includes more than 20 years of experience in investment real estate before he joined R.D. Olson. His role as vice president of finance extends from the initial acquisition through the financing phase, then the operation and ultimate sale of the property. Riley also, he negotiates the management agreements with various hotel brands.
Robert Olson, CEO of R.D. Olson, credits Riley with being instrumental in the Irvine-based firm's recent surge in hotel openings. A venture that Riley began working on nearly four years ago has recently come to fruition: the July opening of the $70 million Renaissance ClubSport by Marriott in Aliso Viejo, CA.
[IMGCAP(2)]At UGL Equis, Overend joins with the title of vice president in a newly established Orange County office in Irvine that is headed by vice president Justin Hodgdon. Overend's new role includes assisting in the strategic guidance and implementation of the UGL Equis tenant representation platform. He will be responsible for business development and representing the real estate needs for clients throughout the Orange County area.
Overend brings 27 years of commercial real estate experience to UGL Equis. His transactions have included leases, building acquisitions, land dispositions and marketing/leasing of large scale projects, notes Josef Farrar, senior vice president and managing Director of UGL Equis' Downtown LA office.
Before joining UGL Equis, Overend worked from 1993 to 2008 as broker/owner at Orange County-based the Overend Company, negotiating lease transactions of all sizes on behalf of tenants only. Before the Overend Company, he served as senior account manager at the Staubach Co.'s Irvine office. He also held a previous position at Coldwell Commercial Real Estate Services in Los Angeles.
Chicago-based UGL Equis has been steadily expanding its Southern California presence, with two L.A. offices and one Orange County, totaling 25 brokers. Those figures are up from 12 brokers and a single L.A. location one year ago.
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