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SKB Adding More Products, People

PORTLAND-ScanlanKemperBard Cos., a locally based real estate merchant banking and development advisory firm is branching out into the world of TICs and REITs.

By Brian K. Miller | Updated on September 13, 2004

PORTLAND-The locally based real estate merchant banking and development advisory firm ScanlanKemperBard Cos. is adding two new investment products, including the recently filed SKB REIT I, a public non-traded REIT, and an investment vehicle catering exclusively to 1031 exchange investors known as tenancy-in-common investments.The new SKB REIT plans to offer 30 million shares at $10 each, raising $300 million that will be used to acquire and operate income-generating retail, office and industrial properties located in major and secondary U.S. cities in the western U.S. As well, the REIT may invest in other real estate related investments, including mortgage loans and ground leases.SKB principal Bob Scanlan tells GlobeSt.com the distribution network for both products will include inside and outside SKB sales personnel and outside licensed broker dealers and registered representatives throughout the U.S. For the inside work, SKB has brought on Craig R. Cheney as national sales manager. Cheney most recently was regional vice president for Dallas-based Behringer Harvard, where he was responsible for marketing BH real estate products through broker dealers in the Pacific Northwest region. Prior to Behringer Harvard, Cheney was senior divisional vice president with MFS Inc. in Boston, and prior to MFS was national sales manager for annuities with USF&G Inc. in Baltimore. SKB is in the midst of its best year ever in terms of acquisitions, with more than $177 million worth of acquisitions under contract. “These will put us over $200 million in acquisitions for 2004, which will be our biggest year ever,” says Scanlan. “And ’05 looks to be substantially greater than that.”

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