Thomas P. Falatko has joined Somera as senior vice president to manage the DC office and expand the company's investment activities in this market and throughout the east coast. Prior to joining Somera Capital Management, he was a managing director for six years with Madison Marquette, responsible for sourcing real estate deals in the southeastern US and Southern California.
Falatko tells GlobeSt.com that Somera will be concentrating on value add to opportunistic acquisitions in the hotel and office sectors. "We have also been successful in acquiring distressed retail estate and we will continue to focus on that strategy as well."
The main contribution the Washington office will make to Somera's operations, he says, is a more comprehensive focus on the region. "Right now acquisitions are being run out of the Los Angeles and Santa Barbara offices." By having a Washington office, Somera hopes to establish more local contacts and better leverage relationships in order to find deals, especially in secondary markets, he adds.
Somera's strategy is to concentrate on major metro markets and major metro adjacent markets. In the DC area, Falatko says, that would mean looking at such markets as Gainesville, VA, for example. "That is an area that is growing quickly." He is reviewing a variety of transactions and hopefully will be able make an announcement about one by the end of the second quarter.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
