"I guess I proved my worth," the 18-year veteran tells GlobeSt.com, "and they feel I'm right to take the office to the next step and expand the presence of LNR in the Southwest." Kristofek's territory includes Austin, Houston, San Antonio and Denver plus the home base in Dallas, where there are six employees. Oklahoma and New Mexico also are on his exploration map.
Kristofek says he's actively scouring Houston for development sites. LNR's forte is to buy land and build, crisscrossing all product types as an opportunistic developer. "We look for supply constraints and more demand than what is being met," he says.
LNR has started rough grading its 305 acres in North Fort Worth to begin work on the first phase of the Presidio. Kristofek, who holds a master's degree in architecture, will manage the Presidio's development, which will end up with one million sf of retail and restaurants, 1,300 residential units, 750,000 sf of office, fitness and hospitality space.
In addition, Kristofek is forging ahead on LNR's 230-acre Lakeside Ranch in Flower Mound. To date, the company built 350,000 sf in two industrial buildings, selling one last year and leasing the other to a single tenant. LNR has 40 acres left to develop after land sales to other developers and local companies for build-to-suits.
Kristofek was hired by LNR's R. Lang Cotrell, who opened the Dallas office in the early 2000's and subsequently returned to Newport Beach as president of the West-South region. The firm's third regional president is Ric Kern, who leads the West-North region.
"Ken is a valuable and dynamic asset to our team," LNR's COO Dana Sanders says in a press release. "His experience and drive to acquire additional development opportunities will be instrumental to increasing LNR's investments and presence in the Southwest."
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