Advisors and Consultants
Specializing in Commercial Real Estate and Infrastructure Transactions and Projects
AREAS
OF EXPERTISE
TRANSACTION STRUCTURING
SSA assists in the organizing of project teams and the legal and financial structuring of commercial real estate and infrastructure (social and civil) projects including coordinating bid teams, the drafting and submission of solicited and unsolicited proposals and negotiation of agreements.
UNDERWRITING AND FEASIBILITY ANALYSIS
SSA performs financial modeling, market research and financial feasibility analysis for commercial real estate utilizing its own detailed Excel based model templates including a model for mixed-use development projects that mirrors the functionality of Argus.
CAPITAL MARKETS ADVISORY
SSA has extensive experience assisting in the raising of capital for real estate and infrastructure projects through its vast relationships with providers of debt and equity capital including insurance companies, pensions funds, private equity firms, banks, and family offices.
STRATEGIC PLANNING
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SSA assists businesses in the strategic analysis of their market opportunities, organizational capabilities, staffing plans, capitalization plans, and helps write business and strategic plans.
PROJECT CONCEPTUALIZATION
SSA can get involved early in a project and assist in forming a concept and taking it to the proposal stage including managing site identification and control, conceptual planning and budgeting and financial planning and modeling.
INVESTMENT MANAGEMENT
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SSA can assist in setting investment criteria and evaluation metrics, and organizing investment committees and processes.
EXPERIENCE
ONGOING AND RECENT ENGAGEMENTS
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Network Realty Partners
SSA provides ongoing strategic advisory services to Network Realty Partners (NRP), an opportunistic real estate investment firm based in the Washington, DC region, assisting them in evaluating investment strategies and making introductions to prospective capital partners to support those strategies. In 2023, SSA assisted NRP in capitalizing the acquisition of an obsolete suburban office park in Northern Virginia. irginia for conversion into a residential community.
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Concord Eastridge, Inc. ("CEI") and Capital City Partners, LLC
SSA provides periodic consulting to CEI in its pursuit of various public private partnership real estate projects including the Navy Hill Redevelopment Project in Richmond, VA. Services provided include financial modeling, market research, and capital markets and financial structuring advisory services including evaluation of Opportunity Zone structures.
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In 2021, SSA assisted Capital City Partners in the structuring, negotiation and capitalization of the build-to-suit development of 500 N. 10th Street in downtown Richmond, VA. VCU Health System will master lease this 512,000 square foot mixed-use project for a 25 year team. The capitalization of this $300M+ project was provided by Oak Street Real Estate Capital and Mesirow Financial.
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Building Hope...A Charter School Facilities Fund ("BHRE")
SSA provides periodic strategic consulting to BHRE, a national charter school facility developer and non-profit corporation. For BHRE, SSA provides ongoing strategic guidance, assisted in the creation of a real estate development business plan, development of a pro forma model for build-to-suit leased charter school facilities, and has implemented the formation of an investment committee including procedures and investment metrics, while also serving as a member of the investment committee. SSA also assisted in structuring, negotiating and reaching financial close on a $20 million corporate sub-debt facility which has supported the growth of BHRE's development business. To facilitate this transaction, SSA created a 10 year financial projection rolling up all BHRE existing and pipeline properties.
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TWG Development
SSA, in cooperation with M&A Realty Capital, assisted this Indianapolis, IN-based multifamily developer in forming a joint venture with Argosy Real Estate Partners for the capitalization of the development of the Meridian Apartments, a new 269-unit luxury apartment community located in an opportunity zone in downtown Indianapolis, Indiana. A total of 5% of the units are affordable at 30% of AMI. The project is expected to deliver in the 4th quarter of 2023.
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https://www.linkedin.com/feed/update/urn:li:activity:6855859946064547840/
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Dulles Center, LLC
SSA is providing ongoing assistance to the owners of a 3-acre parcel in Herndon, VA on potential development options and is coordinating a project team comprised of a land use attorney, civil engineer, and traffic engineer in rezoning the property from commercial to residential.
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PRIOR EXPERIENCE
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SSA personnel have experience in complex transaction structuring and leading infrastructure concession (P3) project teams including:
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Served as bid manager and financing manager for the MultiModal Solutions consortium comprised of Clark Construction Group/Kiewit Infrastructure, Louis Berger, Societe Generale and Orrick in its submittal of a committed bid for the $1.3 Billion Route 460 Corridor Improvements Design-Build-Finance project.
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Led minority sponsor in its participation in the Maryland Transit Connectors consortium for the $2.5 Billion Maryland Purple Line light rail concession. Helped lead teaming efforts and formation of the 7-firm consortium, took lead role as community relations and marketing manager, as well as representing minority sponsor in Commercial and Financing Working Groups.
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Led teams bidding on build-to-suit lease transactions under the VA Outpatient Clinic program in a joint venture formed with Clarion Partners. Structured leases and transaction economics for numerous properties including 770 M Street, SE, 225 Virginia Avenue, SE and Lincoln Lots in Washington, DC.
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SSA personnel have assisted in the structuring and raising of hundred of millions of dollars in joint venture equity and mezzanine debt for various commercial real state properties and portfolios including:
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Arranged placement of $110 million of private equity in real estate companies including: Morningstar Mini-Storage through a New York-based pension fund advisor.; Allen & O’Hara, which became Education Realty Trust, Inc. (now Greystar) by a subsidiary of Fremont Realty Capital; and Resources for Senior Living by William E. Simon & Sons.
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Arranged $105 million first mortgage and mezzanine debt re-capitalization of a 16-property portfolio of office and retail properties for Midland Red Oak Realty.
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Coordinated refinancing of $45.3 million interim debt financing provided by GMAC/Capmark for NetCenter, a 540,000 square foot office center located in Hampton, VA. The loan provided $36 million in refinancing proceeds and an additional $9.3 million in proceeds for future base building improvements, tenant improvements and leasing costs.
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Secured 2nd largest allocation of low income housing tax credits (LIHTC) of any project in Virginia in 2008 ($11,215,500) for the Arlington Mill mixed-use project.
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SSA personnel have assisted in the acquisition of over $100 million in grocery anchored shopping centers and performed valuations and feasibility analysis on over $1 Billion of commercial properties.
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SSA personnel have participated in senior leadership of multiple real estate development firms providing strategic direction, setting corporate strategy and regional plans, implementing plans and being responsible for individual project execution and the oversight of as many as 10 employees.
ABOUT US
GREG DERBY
PRINCIPAL
Tel: 240-994-2884
Greg Derby has over 35 years of business experience focused on commercial real estate and infrastructure concession transactions. Recently, Greg has assisting in the structuring and capitalization of approximately $450M in real estate developments including the acquisition of a two building, obsolete suburban office park in Northern Virginia for conversion to residential use, a 512,000 square foot build to suit mixed-use complex for VCU Health System and a 269-unit, luxury apartment community in an Opportunity Zone in downtown Indianapolis, IN. During his career, Greg has performed financial underwriting, market feasibility and valuation of over $1 billion of commercial real estate properties in all property sectors including multifamily, retail, office, industrial, self-storage, hotel, student housing, charter schools, senior housing, and assisted living. Greg has also been involved in the acquisition, structuring and/or capitalization (equity, debt, tax credits) of over $5 billion of commercial real estate and infrastructure projects. In addition, Greg has extensive experience managing project teams in the pursuit of commercial real estate, public private partnership and infrastructure concession projects through bid processes. Greg’s experience in transportation infrastructure includes the Route 460 Corridor Toll Road project and the Purple Line Light Rail Project.
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Prior to forming SSA, Greg was a Managing Director with Edgemoor Real Estate & Investments, a Senior Vice President-Regional Director at Concord Eastridge, Inc., a Director with Arthur Andersen LLP and Acquisitions Manager at First Washington Realty Trust.
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Greg holds a BS in Marketing from the University of Maryland and a MS in Real Estate Development from the Massachusetts Institute of Technology (MIT).
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