Ted Broadfoot
Partner at Red Summit Partners- Claim this Profile
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Bio
Experience
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Red Summit Partners
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United States
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Leasing Non-residential Real Estate
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1 - 100 Employee
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Partner
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Apr 2021 - Present
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B.HOM Student Living
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Dallas-Fort Worth Metroplex
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Executive Vice President
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Apr 2020 - Dec 2020
Transitioned Pinnacle Campus Living to a newly formed national student housing management company Primary liaison with institutional clients for third-party fee management assignments Current portfolio consists of 26 properties containing 13,000 bed serving 24 universities Acquisition lead on negotiation of two large state university assignments totaling 14,460 beds 12 corporate team members and over 250 on-site employees Successfully completed Turn and Move-In processes during COVID with occupancies averaging over 94% Show less
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Pinnacle Property Management Services
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Business Consulting and Services
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700 & Above Employee
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Executive Vice President - Pinnacle Campus Living
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Jan 2018 - Apr 2020
Oversite of a newly formed national student housing management company Portfolio consisted of 38 properties containing 18,500 bed serving 30 universities Top 10 U.S. Student Housing Manager 15 Corporate team members and over 250 on-site employees Sourced two P3 management assignments with state universities
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Senior Vice President of Operations and Asset Mangement
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Jan 2012 - Jan 2018
During this tenure, I headed 14 direct reports working in different departments including Asset Management, Construction Management, National Maintenance, Purchasing and Revenue Management Departments Investment activity included acquisition of two properties totaling 353 units and disposition of 91 properties totaling 17,463 units Achieved average growth rate of 5.2% per year in NOI on Market Rate Portfolio and 2.8% on Affordable Portfolio. Grew a key third-party property management relationship from 9,000 units to over 42,000 units. Duties for this relationship included acquisition underwriting, due diligence coordination, driving operating performance, preparing monthly portfolio reporting, cashflow distribution analysis, development and execution of approved capital improvement programs Show less
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Director of Asset Management
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Jan 2009 - Jan 2012
Portfolio consisted of 126 conventional and affordable properties containing 23,960 units; acquired one 645-unit property and disposed 15 properties totaling 3,827 units Direct management of five team members and maintained lender, investor and tax credit relationships Developed and executed investment strategies to maximize the economic returns of each asset Prepared annual business plans, ensured compliance with all partnership operating and loan agreements, financial modeling and analysis, real estate tax appeals, development of market position strategies, approved and monitored physical maintenance programs, prepared quarterly cash distributions and required reports Oversaw the Portfolio Accounting Department which included preparation of annual portfolio evaluations and oversight of annual audits and income tax reporting Procured property casualty and liability insurance, directed insurance and legal claims administration Planned, designed and created internal business intelligence for portfolio analysis and ranking Show less
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Asset Manager
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Jan 2007 - Jan 2009
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Warner Alan Properties
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Dallas-Fort Worth Metroplex
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Principal
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Jan 2004 - Jan 2006
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Fath Properties
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United States
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Real Estate
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1 - 100 Employee
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Vice President of Texas Operation
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May 1991 - Jan 2004
Maximized economic performance of 4,500 units with staff of 130 employees Increased annual Net Operating Income averaging 5% from 1991 thru 2003 Acquired nine properties totaling 2,206 units and disposed three properties totaling 631 units. Responsibilities included the evaluation of acquisition opportunities, broker selection, financial modeling, negotiation of offers and purchase contracts, supervision of due diligence, closing and transitioning properties into the company Prepared and revised manuals for Operations, Leasing and Human Resources Assisted in selection and monitoring of worker’s compensation and property casualty liability insurance Analyzed property values, recommended and implemented strategies to maximize returns, implemented new loans with direct responsibilities in negotiating values and loan terms Developed renovation plans to maximize property potential with scopes varying from standard capital replacements to complete repositioning strategies. Duties included development of project scopes, material and contractor selection of over $35 million dollars in capital improvements. Show less
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Education
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Southwest Texas State University
Bachelor, Acounting