The Peachtree State's commercial real estate business has weathered the cyclical storms better than many Southern metros and is emerging once again as a bellwether city for property investment. Atlanta's ability to abound and rebound over the past few decades isn't based on its strategic location alone—it's also based on the professionals who helped shape the market. Here's a look at some of the people who have become regional household names in Atlanta.
You might say Ackerman & Co. is a household name on Atlanta's commercial real estate scene. Charles Ackerman, founder and chairman of the firm, has been making his mark on the southern city since 1967. Ackerman has earned its reputation as one of the Southeast's most creative, productive full-service real estate firms, developing more than 200 million square feet of office, medical, retail and mixed-use space. Ackerman & Co. also maintains an investment portfolio worth $750 million. Meanwhile, Ackerman in his own right has developed more than 30 million square feet of commercial real estate over the past 40 years. He has won numerous awards and serves on diverse boards, including the Buckhead Community Improvement District, Clark Atlanta University, Woodrow Wilson International Center for Scholars, the American Jewish Committee and the Real Estate Apprenticeship Program for African Americans.
David Allman's stamp is on iconic Atlanta projects like 3344 Peachtree/Sovereign—the 50-story mixed-use project in Buckhead and the largest building to be developed in Atlanta in 20 years—and the redevelopment of the Tower Place complex in Buckhead. Allman launched his commercial real estate career in 1980. Just eight years later, he established Regent Partners and has developed or acquired more than $2 billion in real estate assets since. Allman, owner and chairman of Regent Partners, is also active in other aspects of Atlanta's business community, currently serving on the boards of the Georgia Public Policy Foundation, the Metro Atlanta Chamber and the Georgia World Congress Center Authority. He's the founding chairman of the Buckhead Community Improvement District and chairs the Livable Communities Coalition, FCS Urban Ministries and the Eleazar Wheelock Society at Dartmouth College.
Brantley Barrow has built his professional career on five words: achieving success involves sharing success. As chairman of Hardin Construction Co., Barrow has indeed lived up to his professional credo for more than three decades. His financial and management acumen in construction and real estate has helped him establish Hardin as a national name in the industry. Barrow has overseen the strategic direction and executive management of Hardin, making the brand one of the most respected in the hospitality sector. Barrow is just as hands on in the Atlanta community, doing everything from pushing wheelbarrows at a community garden project to offering college students motivational advice. He's a former chairman and trustee of Junior Achievement of Georgia and March of Dimes of Georgia, vice chairman of Atlanta Habitat of Humanity, vice chairman and trustee of Young Harris College and chairman of the Terry College of Business Alumni Board at the University of Georgia.
Hal Barry is widely credited with transforming the Atlanta metro's skyline from the Central Perimeter to Downtown over the past three decades, including projects like Ivan Allen Plaza and 50 Allen Plaza. Barry launched Barry Real Estate Cos. with Chris Schoen in 1995. Under his leadership, Barry Real Estate developed, marketed and managed commercial assets in the Southeast and won numerous awards for creating superior asset value. Barry Real Estate has developed and renovated more than four million square feet of class A office space and negotiated leases worth more than $2 billion. When Avison Young acquired the majority of Barry's third-party business unit in October 2011, Earl Webb, president of Avison Young's US operations, noted that the firm "has created exceptional buildings."
From attorney to turnaround consultant to real estate investor to commercial developer, James Borders has one of the most diverse commercial real estate backgrounds in Atlanta. After successful law and consulting careers, Borders launched Novare Group in 1992. The company's first investments in self storage and office were so successful that his firm started developing apartments and condos. Novare Group's first high-rise development, Metropolis, has been credited with sparking residential demand that helped morph Midtown Atlanta into what it is today. Borders has since taken the Novare brand national, developing high-rise mixed-use communities in Austin; Charlotte; Nashville; and Tampa, FL. Under Borders' leadership, Novare launched Twelve Hotels & Residences in 2006. He serves on the boards of the Buckhead Coalition, the Midtown Alliance, Central Atlanta Progress and several other organizations.
Robert Cole has paid his dues in the hotel industry; now he's one of its heavy hitters. Cole held general manager positions in various hotels up until 1990 when he founded Impac Hotel Group, a hotel owner-operator and developer. Impac grew to become one of Marriot International and IHG's largest franchisees. Impac merged with Servico, and until 2000 Cole continued serving as president and CEO of the new company, Lodgian, which was one of the largest hotel owners in the nation with a portfolio of 143 hotels. Cole then launched his current project, Hospitality Ventures Management Group, which specializes in turning around underperforming hotels and renovating and repositioning properties. As president and CEO, Cole and the HVMG team have supervised more than $300 million in renovations and developed more than 20 new hotels from the ground up. HVMG currently operates 36 hotels, consisting of 6,620 rooms, with 24 hotels operating under franchise agreements with Marriott or Hilton.
Enterprising. It's a theme that runs through Thomas Cousins' life. Long before he founded Cousins Properties, he started showing his entrepreneurialism, mowing lawns in the third grade and delivering newspapers in the fifth grade. Upon graduating college, he entered the Air Force. After serving, he launched his commercial real estate career with Knox Homes. Soon, he was the firm's most successful salesman. By 1958, Cousins took his $2,500 in savings and started buying vacant residential lots and building homes. That was the genesis of Cousins, which is today one of the most respected REITs in the nation. Cousins has developed the CNN Center, 191 Peachtree Tower, the Pinnacle Buckhead, Omni Coliseum and the first phase of the Georgia World Congress Center. He received the Lifetime Achievement Award at the 2010 Atlanta Sports Awards for his role in promoting sports there.
Larry Gellerstedt launched his career more than three decades ago as an estimator and project manager at Beers Construction Co. He rose through the ranks to take the reigns of one of the nation's most respected REITs, Cousins Properties, in July 2009. Before stepping into the president and CEO role at Cousins, Gellerstedt served as president and COO, overseeing leasing, asset management and development. He joined Cousins in 2005 after it acquired his firm, the Gellerstedt Group. But he'd long been a bright star on Atlanta's commercial real estate scene. At 26, he founded and became president of BCB Co., a Beers subsidiary focused on healthcare. He grew BCB Co. to more than $100 million in revenues in just four years and was named chairman and CEO of Beers. He led the firm to annual revenues in excess of $1.2 billion, and ultimately sold Beers to Skanska AB.
Tim Gunter played a critical role in IDI's founding in 1989, and over two decades later, he's still directing the company's strategy. As CEO and president of the industrial firm's Atlanta corporate office, Gunter has overseen the formation of IDI's long-term ownership portfolio, the expansion of its acquisitions program and the growth of its sustainable development initiatives, as well as the recent creation of its institutional investment management arm. A recent graduate of Leadership Atlanta, a community leadership development program, Gunter is committed to the areas of education and the environment. As such, he serves on the boards of the Georgia Conservancy and Teach for America and is a past member of the ULI's Sustainable Development Council, among other activities.
Jim Jacoby has been making an impact on the local retail real estate industry for more than 35 years. He launched Jacoby Group in 1975 to focus on retail opportunities and has built more than 40 Walmart stores. With Jacoby as chairman and CEO, the company has expanded its focus from traditional retail center development to broader projects that embrace and promote environmental stewardship through its JDI brand. Notable of the firm's "smart growth" initiatives are a brownfield redevelopment at Atlantic Station (former Atlantic Steel); Aerotropolis-Atlanta in Hapeville, GA (former Ford plant); and Virginia Renaissance Center in Norfolk, VA (former Ford plant). Today, the Jacoby Group of Cos. is diverse, focusing on real estate, education, energy and healthcare.
Christoph Kahl is a transcontinental commercial real estate guru. He cofounded Jamestown in Atlanta in 1983 and founded Jamestown US-Immobilien GmbH in Cologne, Germany. As managing partner of both firms, he frequently travels across the Atlantic. He's also chairman of Jamestown's investment committee, leading acquisition, asset management and dispositions. Jamestown has syndicated 27 core and core-plus and five opportunity funds, raising about $4 billion in equity to acquire over 80 assets spanning 25 million-plus feet. Notable projects include Ponce City Market, a $180-million redevelopment of the former City Hall East building at 2.1 million feet, the largest brick structure in the Southeast, as well as White Provision and 999 Peachtree. Riverview Landing is currently under way along the Chattahoochee River in Cobb County. Kahl is also treasurer of the Association of Foreign Investors in Real Estate.
A.J. Land launched his commercial real estate career in 1960 at Pope & Carter Co. He moved up the ranks to VP and managing partner of an affiliated company, which evolved into Crow, Pope & Land Enterprises, in 1969. Within three years, his talents took him to the top. He served as president and managing partner of the firm and developed more than $500 million worth of projects. In 1979, he founded Pope & Land Enterprises and set out to build mixed-use projects in across the Southeast, including Decatur Town Center, Atlantic Center Plaza and Northwinds. Land is currently a Trustee of the Georgia Tech Foundation Inc., the Randolph Macon Women's College and the Preservation Institute of Nantucket.
Many businesspeople seek guidance from a higher power when starting a new venture, but for John R. McDonald, the higher power became a business partner. When he founded McDonald Development Co. in 1988, McDonald's primary joint venture partners was the Church of England. Today, McDonald Development is one of the biggest developers, managers and owners of industrial real estate, having amassed a pimarily Southeast portfolio of more than 40 million square feet and 3,600 acres in 45 business parks and 330 institutional-quality facilities over the past 39 years. For the two years prior to founding his company, McDonald teamed up with Mack Taylor and Harvey Mathis to create an industrial development division within the Taylor Mathis organization and before then, he was a partner in the industrial business of Trammell Crow.
CEO R. Brand Morgan is about as diverse as they come. He founded Brand Properties, a real estate investment company specializing in the acquisition, repositioning and development of office, multifamily, retail and industrial properties. Brand Properties has developed the likes of the Technology Center of Georgia and Gwinnett Braves Stadium, and is currently working on Horizon Pointe, a 165-acre tract at the intersection of 1-85 and 1-985. But Morgan wasn't content to stop there. In 2010, he formed Wheeler/ Brand Management Co., which manages and leases four million feet of third-party real estate. Morgan is also co-manager of NoteSouth Investment Fund, a distressed real estate and note-purchasing fund focused on the Southeast. He chairs the Gwinnett Children's Shelter, is on the executive board of Atlanta History Center, president of the 1818 Club and vice chairman of the Center for the Visually Impaired.
"Sonny" Morris is known as the consummate real estate deal lawyer. He's represented private equity firms, resort development companies, REITs and others in blockbuster deals that make him a go-to in the industry. He's co-founder and chairman of Morris, Manning Martin and senior partner in the Real Estate and Real Estate Capital Markets Practices. He's served as general counsel for major real estate firms through multiple cycles and has repeatedly proven his knowledge of all aspects of the industry, from raising capital through acquisition and development to workouts. Morris is chairman of the Buckhead Coalition and Sam and Francis H. Hemphill Educational Foundation. Atlanta Magazine named him a "Georgia Super Lawyer" from 2004-12, and Legal 500 has ranked him a leading real estate and construction attorney since 2009.
Integral Group LLC chairman and CEO Egbert Perry is a man with a vision. Since launching the full-service urban development firm in 1993, he has been an innovator in the field of urban infill mixed-use, mixed-income projects, as well as a driving factor in creating private-public partnerships that spur opportunity for development and re-development in underserved communities. Over the past 17 years, Integral has authored more than 50 developments worth more than $2 billion. A native of the Caribbean, Perry launched his career with a large, national general contractor in Washington, DC before joining an Atlanta-based real estate and construction firm, where he ultimately served as president. He grew Integra's revenue from $12 million to more than $200 million and was recognized as the thirdlargest minority-owned business in the US and the nation's largest African-American general contractor.
Bob Peterson, who has been developing real estate for more than 30 years, founded Peterson Properties in 1979. The firm developed than 30 office and industrial projects spanning four million square feet and handled more than $1 billion in investment transactions before being sold to CarrAmerica in 1996. He continued as president of CarrAmerica Development and served on the company's investment and operating committees. Peterson finally landed at Carter in 2001, coming on board as a partner and EVP. He took the reigns as chairman and CEO of Carter in May 2001 and led the formation of Carter Real Estate Funds, the firm's first opportunistic value-added real estate investment vehicle. Carter also launched the Banks, an $800-million mixeduse development in Cincinnati in a move to expand Carter's business in healthcare and data centers.
John Portman launched his career with a two-man architectural practice. Today, the founder and chairman of Portman Holdings runs an international organization that spans the fields of architecture, development and trade marts. The Portman organization has developed over 18 million square feet in Downtown Atlanta and spurred the city's evolution into a premier convention location. Altogether, Portman Holdings has developed about 50 million square feet of real estate across three continents, costing $6 billion at the time they were constructed. Most of his projects have had a socioeconomic impact on the revitalization of the urban landscape in which they were located. Portman Holdings includes John Portman & Associates, AmericasMart and Atlanta Decorative Arts Center.
While some have diversified, Ferdinand Seefried made a name for himself by focusing on a single niche: industrial. Specifically, he's focused on developing industrial real estate in locations near airports and targeting international freight forwarding and transportation companies since he founded Seefried Properties in 1984, for which he serves as chairman. Seefried leveraged his close ties to European financial institutions and leading freight forwarders to quickly emerge as a leader in warehouse development around Hartsfield-Jackson Atlanta International Airport. Seefried Properties has developed 25 million square feet of assets and is managing about 12 million square feet of warehouses. Before launching his own firm, Seefried was an executive for Transatlantic Group, a Europe-based real estate advisory group.
Steve Selig made his mark on Atlanta on three fronts: real estate, civic and religious. He started his career at Selig Enterprises in 1968—a company Ben J. Massell founded in 1918—and remains president and chairman. Also chairman of Selig subsidiary AAA Parking, Selig is the visionary behind such Atlanta developments as Buckhead Triangle, Plaza Midtown, Brookwood Place, District at Hotel Hill and 12th & Midtown. He was named national campaign chairman of the United Jewish Communities in 2003. He is also past president of the Atlanta chapter of the American Jewish Committee and the Atlanta Jewish Federation. He serves on a number of boards and civic councils, including the Atlanta Housing Authority, Honorary Consul of Denmark in Atlanta and Woodruff Arts Center.
Ray Weeks has been busy over the past 30 years. He has developed and managed billions of dollars worth of commercial real estate projects in 10 cities. He co-founded Weeks Robinson Properties with Forrest Robinson after decades of working together to build successful real estate firms. As chairman and CEO of Weeks Corp., Weeks took his company public in 1994 after growing it to over $2 billion in assets. Weeks Corp. merged with Duke Realty in 1999 to become Duke-Weeks Realty, the largest officeindustrial real estate company in the US. Weeks served as vice chairman, president and COO of Duke-Weeks until 2001. Today, he directs his energies into Weeks Properties Group, which has a JV with Cousins to build industrial parks and a military base redevelopment. Weeks is also known for contributing to developing public policybased solutions to growth-related challenges in Atlanta.
Disciplined. That's the key word behind Leo Wells' success. Founder and CEO of Wells Real Estate Funds, Wells is known as the pioneer of a disciplined core office real estate investment philosophy that has driven more than $11 billion worth of investments for 300,000 investors. That philosophy is simple: low-debt, high-quality tenants and long-term leases. Wells is widely recognized as an expert on REITs. Beyond investments, Wells has managed more than 50 million feet of office space over his 30-year career. Wells has appeared on Fox Business News, Bloomberg Television, CNBC and other broadcasts, and was inducted into the Hall of Distinction at Georgia State University, among other honors.
John A. Williams was born and raised in Atlanta. After graduating from the Georgia Institute of Technology with a BS in Industrial Management, he set out to make a name for himself in commercial real estate. In 1966, Williams started directing and coordinating the development, construction and management of real estate. He launched Post Properties in 1970 and took the company public as a REIT in 1993. By the time he resigned as chairman of Post in 2003, he had built more than 30,000 apartment units. Today, Williams is CEO of Williams Realty Advisors and holds interests in various other entities that acquire, develop, build, hold, lease, manage, operate and exchange real estate. A national leader in the urban development concept, Williams has won 40 awards, medals and honors over his 42-year career. Williams is on the board of the Atlanta Falcons and is also a minority owner of the team.
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