Snyder will focus on operations, shareholder relations and investment strategies for Unico.
SEATTLE—Real estate investment and operating firm Unico Properties LLC, a subsidiary of Unico Investment Group LLC, recently named Bruce Snyder as chief financial officer. As a member of Unico's executive leadership team, Snyder will focus on operations, shareholder relations and executing investment strategies for the company.
He will oversee the finance, accounting and corporate compliance departments. In addition, Snyder will be part of Unico's continued focus on expanding its business in the country's highest-growth markets.
"Unico's strategy is to invest in top-tier high-growth markets with lifestyles that are attracting younger, highly educated demographics such as Seattle, Portland, Austin, Denver, Salt Lake City and most recently Nashville," Snyder tells GlobeSt.com. "We focus on markets with high population and job growth with diverse economic drivers such as technology, healthcare and financial services that are supported by excellent educational institutions that support and drive employment, along with high demand from office and residential users. These markets are yielding higher returns for our core and core-plus investments that are focused on infill office acquisitions, ground-up development or redevelopment for our institutional, family office and high-net-worth investors."
Snyder spent more than 35 years leading finance, development and operating teams in the real estate industry across large and mid-sized public and private corporations. Having overseen corporate performance in ownership structures ranging from family-owned businesses to private equity-owned portfolio companies, Snyder has a broad understanding of both the quantitative and quality dynamics of management.
"Having worked with a number of great companies over the years, Unico's legacy as a best-in-class mixed-use urban developer, proven commitment to sustainability and overall team culture are what attracted me to the company," said Snyder.
Snyder's experience includes leading the development of the 4,000-acre Daybreak master-planned community in Salt Lake City and the creation of the Brightline rail line in South Florida, the first privately funded high-speed rail line in the United States. Recently, he served as CFO for the Qiddiya Investment Company, a wholly owned closed joint-stock company of the Kingdom of Saudi Arabia's Public Investment Fund, leading the finance team to support the creation of Saudi Arabia's 95,000-acre Qiddiya mixed-use mega-project.
"Bruce's impressive 35-year track record, breadth of experience across so many sectors of the real estate industry, his perspective and knowledge mark a great addition to our executive leadership team as Unico continues to grow," said Jonas Sylvester, Unico president.
Seattle sales activity was steady during the third quarter, closing with 106 office transactions for a total investment amount of $1.16 billion, according to a report by Kidder Mathews. The average transaction sale price was $348 per square foot with a corresponding average cap rate of 6%.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
