RealShare EXCLUSIVE: Kelter Discusses Secrets of Success

Sean Ryan is associate editor of Real Estate New Jersey SECAUCUS, NJ-Selling Keystone Property Trust to ProLogis last summer for $1.6 billion wasn’t an easy transaction to close, said Jeff Kelter, chairman and CEO of KTR Capital Partners, and president and CEO of Keystone during its acquisition. “We wanted to set up an environment where ProLogis didn’t feel they were the only bidder.”As it turns out, they were.”

With the numerous assets that Keystone had, once Kelter decided to sell the company there were “really only about 10 companies” that could afford to acquire it. ProLogis was probably finding out its $1.6 billion bid had no competition with the rest of the RealShare Industrial East crowd, Kelter admits. The jovial, self-deprecating Kelter shared his thoughts with the more than 300 attendees of the RealShare Industrial East Conference on June 2 for the “Inside the Real Estate Mind” interview. Real Estate Media editor in chief Michael G. Desiato asked the questions, which covered Kelter’s multi-company career and his thoughts on the industry.

Kelter had four months at home before he founded KTR at the end of 2004. “I went home every day for four months, and my kids were delighted to see me go back to work.” He also didn’t expect the traditional retirement pursuits to fit well with him. “I can almost promise you that I’m going to suck at fishing.”