D2...What We Do


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Concise brochure describing what we do, some of what we've done, and who we are.

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D2...What We Do

  1. 1. 2 D D 2 A DVISORS I NC .   R e a l   E s t a t e   C a p i t a l   A l t e r n a t i v e s  David Hayes David Wrubel561.733.0092 Office / 561.702.3483 Cell 860.673.1626 Office / 860.751.9484 Celldhd2@bellsouth.net davidw@d2advisors.com
  2. 2. Revised  December  2012   What We DoEstablished in 1988, D2 Advisors has worked with a variety of real estate entities, assistingthem in all aspects of raising recurring capital through multiple sources. 100% of our businessderives from recommendations by current and former clients, major law firms, and word-of-mouth from other industry participants. We do no advertising.Our focus is working with experienced, successful real estate operating companies, structuringinstitutional quality joint ventures that provide investors with exceptional risk-adjusted returns.We develop appropriate, high quality real estate investments to Family Offices, Endowments,Charitable Trusts, and High Net Worth Investors. We emphasize smaller transactions ($15 to$100 million of equity) designed for single or a small group of investment entities. We are notbrokers; rather, we are always heavily involved in structuring each transaction, enabling us toensure that they meet the needs of both our clients and those of prospective investors.We rebrand companies, create investment structures and joint venture models, organize duediligence material, identify prospective capital sources, and represent clients in propertyacquisitions or development activities. In addition, we have executed refinancings, propertysales, and recommended other organizational enhancements that would accelerate theprocess.Our retail clients have included Principal Real Estate Investors, CharterMac (formerly the RelatedCompanies), Henderson Global, The Lightstone Group, Equity Global Management, D&L Energy,and The Zamias Companies. Some clients, past and present: Financial intermediaries with which we have worked: Principal Real Estate Investors Goldman Sachs Henderson Global NA Merrill Lynch Related Capital (CharterMac) Apollo Morgan Management LLC UBS Equity Capital Management Regions Bank Montecito Medical Investment Company Inland Real Estate Colony Development Partners LLC Transwestern Realty Finance Partners LLC The Lightstone Group Friedman Billings, Ramsey & Co. Campus Development and The FortGroup Harrison Street Real Estate Velsor Properties Equity Capital Management The Adler Group Strategic Capital Advisors LLC Century Real Estate (Odyssey Securities L&B Realty Advisors Stratstone Financial LLC D&L Energy The Zamias Companies     2
  3. 3. Revised  December  2012   S elected A ccom plishm ents and A ctivitiesEquity Global Management 2007-Present Chicago ILWorked with EGM on a variety of projects, including analyzing its entry into the retail Reg.D market, an IPO, andcurrently are raising institutional capital for the company’s fifth net lease income fund.Morgan Management LLC 2010-Present Rochester NYEngaged by this $1.7 billion private company in January 2010 to assist its RV Resort Division, which holds an exclusive,long-term franchise agreement with NASCAR, to develop an expansion strategy, present various joint venture structuralalternatives, and source capital to fund its growth. We are presently in discussions with a number of investment banksand private equity firms to accomplish this. We are simultaneously working with Morgan to double the size of itsapartment holdings, from 15,000 to at least 30,000 units over the next few years, and are in the process of identifyingsuitable joint venture partners for this effort.Colony Development Partners LLC 2007-2011 Charlotte NCPresently advising the Company in structuring a series of transactions focused on specialized rehabilitation hospitalswhere the hospital corporation is the Master Lessee.Originally retained by this privately held real estate development company to do a complete financial review, position itto attract recurring, institutional equity capital, and source such capital to finance its development activities. We identifiedan institutional equity source, and in Dec. 2008 the Company signed a joint venture agreement in which the institutionhas committed $40 million of equity capital to finance Colony’s development pipeline of medical office buildings andrelated health care real estate projects. This represents approximately $150 million of new construction.The Fort Group 2003-2008 St. Augustine FLStructured and arranged a $24 million all cash institutional acquisition of an existing student housing complex nearTexas A&M University.Structured and concluded a $22 million recapitalization - refinanced the debt and sourced new institutional equity - foran existing student housing complex at the Univ. of Georgia, Athens GA. The asset performed better than projected,and was sold in November 2007, delivering a 19% Internal Rate of Return to the institutional investor.Arranged the $24 million sale of an existing student housing complex near the University of Oklahoma, Norman OK.Secured $33.5 million permanent financing for an existing student housing project near the University of South Florida,Tampa FL. Advised the company on $50 million of non-recourse construction financing that it successfully obtained for astudent housing development near the University of Florida, Gainesville.Stockbridge Resort Group LLC 2006-2008 Stockbridge MARaised private equity for the purchase and permitting of 325-acre estate in the Berkshires (Stockbridge MA), forpreservation and re-use as a five star resort, spa, and private residence enclave. Provided financial advice andassistance to the LLC.The Velsor Group 2006-2007 McLean VARetained to assist in the structuring and institutional distribution of a metro Washington DC real estate fund for thisprivate company with over 2 million square feet of flex industrial space and a conservative investment approach that hasdelivered consistent returns to investors.Principal Real Estate 2003-2005 Des Moines IAAdvised Principal on a variety of matters over three years, including identifying alternative sources of equity capital,structuring a variety of transactions, building financial models for the Company’s use, and asset sales.Henderson Global NA 2003-2005 Hartford, ChicagoEngaged to structure a number of funding alternatives for raising equity from alternative sources, and the company’ssuitability to do so. Also, arranged for the purchase of a $34 million asset for one of its private asset accounts. 3
  4. 4. Revised  December  2012     P rincipal B iographies  David HayesDavid Hayes has more than thirty years of experience in real estate securities, financing, anddevelopment. After a successful 10-year career with a national brokerage firm, where he co-founded the syndicated real estate group, and five years as EVP for a national real estatefirm, he began consulting privately for a number of large real estate entities. He hasrepresented the Belzberg family, First City Investments, Chris Hemmeter, who developedmost of the Hyatt and Westin resorts in Hawaii, and The Fogelman Companies, a nationaldeveloper of multi-family residential properties.At Prudential Securities, Mr. Hayes was the force behind the creation of the industry’s firstorganized real estate syndication group. He was primarily responsible for all salesmanagement, training, and tax matters, and lectured extensively both inside and outside ofthe firm on tax related technical issues to audiences that included legal and accountingorganizations and investor groups.In early 1982, Mr. Hayes joined a new Van Kampen real estate entity, where he developedlarge private placements of real estate properties syndicated through national securitiesfirms. This had never been done before. In five years, the departments he assembled andmanaged raised over $3 billion dollars of equity. When he left the company, VMS Realtycontrolled a portfolio valued at over $8 billon; soon thereafter Xerox Corporation bought25% of VMS for $200 million.Mr. Hayes formed the predecessor firm to D2 Advisors in 1988 to provide consultingservices to national and international real estate firms. He oversaw a successful REIT IPO forthe Hemmeter Group, underwritten by Paine Webber, and raised capital for a number ofother offerings that encompassed all areas of real estate.In the mid 90’s, Mr. Hayes was engaged in the private development of commercialproperties in both Florida and Maine, including mixed-use centers, multi- familyresidential properties, and mid-sized single-family residential development. In late 2000,Mr. Hayes was asked by a number of major law firms to resume consulting with variousreal estate groups. He recruited David Wrubel, a Wall Street associate for 20 years, to joinhim in creating the real estate consulting group now known as D2 Advisors.David WrubelWith over twenty six years of institutional and retail capital markets experience, Mr.Wrubel’s work includes capital raising, new business development, infrastructure design andimplementation, product development, sales strategies and tactics, and traditional andtechnological marketing, among others.After earning an MBA from the Freeman School of Business at Tulane University, Mr.Wrubel held sales, marketing, and product development positions at Advest, the retailbrokerage division of Drexel Burnham Lambert, and Prudential Securities, all directlyinvolved in raising capital primarily for real estate investment products. In 1994, CIGNA 4
  5. 5. Revised  December  2012  recruited him to help build an external distribution and sales division for variable insuranceproducts. He was responsible for selling group development, building and implementing akey account system, was heavily involved in the external sales effort and product marketing,and spoke at numerous industry conferences sponsored by the National Association forVariable Annuities, Bank Securities Association, The Conference Board, and others.As senior vice president and director of marketing at Funds Distributor Inc., Mr. Wrubel wasresponsible for the firm’s consulting and marketing activities on behalf of its clients, whichincluded Morgan Stanley, Brinson Partners, Harris Bank, and others, as well as an in-houseadvertising and communication group that provided such services to the firm’s clients.Prior to establishing D2 Advisors, his consulting clients included Chase Manhattan Bank,John Hancock Financial Services, The Phoenix Companies, Sun Life of Canada (US), AssanteCorp. (Canada), and others. Some examples of Mr. Wrubel’s assignments:o Phoenix Insurance and Annuities: Developed and ran a comprehensive, four-week “boot camp” program to train wholesalers (external and internal) for the annuity and life insurance businesses of a major insurance company.o John Hancock Financial Services: Completed a multi-part assignment to assist client in repositioning its career agency as an independent broker-dealer. Deliverables included market analysis, a “best practices” report, compensation and product recommendations, technology utilization, recruiting, and tactical implementation.o Sun Life of Canada, US: In-house executive-in-residence assignment focused on developing and implemented a comprehensive new account development and relationship management program, and expansion of the internal sales desk for client’s variable products distribution division. 5