Maginn
SANTA MONICA, CA-The Watt Cos. plans to deploy an initial $60 million in retail, multifamily, land, and debt across the West. Former Watt president and CEO Jim Maginn is collaborating with former chief investment officer Dean Pentikis on the effort, by which the company says it is "responding to new real estate investment opportunities in the Western United States."
The team will consider a variety of deal types including new construction, redevelopment opportunities and debt investments. “The real estate market has changed dramatically over the past few years, and this is truly an ideal time for Watt Companies to begin deploying capital, creating new joint ventures, and identifying acquisition opportunities in the marketplace,” said Maginn, who serves as Senior Managing Partner for Watt Investment Partners. Maginn adds, “We are expecting continued volatility for the foreseeable future, but that uncertainty is exactly what will create many different real estate opportunities for a nimble and flexible investment vehicle like Watt Investment Partners.”
During his 25 years with Watt, Maginn has overseen new development and project financing for Watt’s diverse and extensive portfolio, which now includes 50 shopping centers, over eight million square feet of industrial and professional office space, homes for more than 100,000 families, and three major first class hotels. Maginn has also served as a board member for several prominent real estate ventures throughout his career, including John Laing Homes and Centro Watt.
Pentikis
Pentikis joined Watt Cos. in 2010 to lead the strategic acquisitions program, develop new equity partnerships and oversee the financing operations for the company. Previously, Pentikis was partner and manager of the Los Angeles office for Apollo Real Estate Advisors LP. There, he oversaw a portfolio of originated deals and legacy projects with total capitalization of more than $2.5 billion. Pentikis has held several other real estate finance management positions at national and global organizations including Nomura Asset Capital, Deloitte & Touche and the Bank of New York.
Also joining the new team is managing director Jennifer Keith-McElyea, who will focus on developing the deal-sourcing arm at Watt Investment Partners. She most recently served as a vice president at OneWest Bank, managing non-performing commercial real estate investments and residential land loans. Keith-McElyea worked with Pentikis earlier in her career at Apollo Real Estate Advisors. New Associate Marc Wyzykowski brings a strong background in architecture, having served as project man ager for both Arechaederra, Hong Treiman Architects and Gerner Kronick + Valcarcel Architects.
Nadine Watt, president of Watt Cos., commented on the new division: “The launch of Watt Investment Partners represents a significant step forward in our ongoing strategic reorganization. We have a strong team in place with decades of combined experience in direct real estate, banking and private equity along with an extensive industry network."
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