David Stern is a Principal at TrustEquity LLC.
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PrincipalTrustequity Llc Jan 2022 - PresentTrustEquity provides outsourced management of real estate equity syndications, enabling project sponsors to automate and streamline investor relations.Pairing extensive owner-side experience with a cloud-based platform, TrustEquity delivers a holistic solution for an investment’s entire lifecycle. Unlimited, on-demand advisory is combined with deployment and management of a secure, online portal. The investor portal provides easy access to contributions, waterfall distribution calculations, and project documents such as Operating Agreements, Project Updates, and K-1s. Services and pricing are structured to most closely align with sponsors’ financial interests and the specific nature of each investment. -
Vice President, Real EstateWework Nov 2018 - Dec 2021New York, New York, United StatesHead of real estate for the Atlantic Region; responsible for a 4.8M sf portfolio of 66 locations located across ten major metro areas.- Led sourcing and underwriting for new locations, negotiation of business terms and leases, and served as primary point of contact with landlords.- Managed a team of deal managers, in-house counsel, financial analysts, and development staff. Worked directly with outside counsel on all transactions.- Directed the Atlantic region portfolio optimization project, which involved the exit and/or downsizing of more than 30 locations (out of 100). Successfully negotiated rent reductions in a significant number of retained locations.- Worked with design, construction, sales, and operations divisions to improve cross-functional collaboration on site identification, design, construction, opening, and member sales. -
PrincipalCobalt Property Group Jan 2017 - Dec 2018Washington, Dc & Charleston, ScCo-founder of a boutique investment and development company with property management and leasing subsidiaries.- Ground-leased a major downtown development site on Upper King Street. Managed design and entitlement efforts for a Class A, 140,000 sf office building.- Negotiated the acquisition of a 100-year old historic schoolhouse on Sullivan’s Island. Obtained approvals to subdivide the property, renovated the building and sold all four 2,500 sf, $2+ million condominium units.- Purchased, through an off-market opportunistic transaction, a four-building, $65.5 million portfolio of stabilized office properties located in downtown Charleston and close-in submarkets. -
PrincipalIcg Properties Mar 2005 - Jan 2017Washington, DcResponsible for overall strategy and implementation of development and investment objectives for a privately-held real estate company.- Directed a comprehensive repositioning of the firm’s portfolio, shifting emphasis away from smaller properties and towards institutional-quality investments in a series of transactions valued at more than $200 million.- Acquired and developed a significant downtown site into the trophy 900 16th Street office building. Set new Washington, DC records for both rent and sale price psf, and earned the Washington Business Journal’s 2016 “Best New Office Development” and 2017 Honoree for “Deal of the Year” awards.- Co-sponsored the acquisition and redevelopment of 1050 31st Street, a vacant office building in the heart of Georgetown, into the Capella Georgetown hotel. Following completion, this 49-room ultra-luxury property was sold and now serves as the Rosewood Washington, DC.
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Vice PresidentKarchem Properties Inc. Dec 1999 - Mar 2005Washington, DcDeveloped two high profile, award-winning office buildings in downtown Washington, DC, and provided real estate consulting and project management services to a wide variety of clients.- The Gallup Building at 901 F Street, NW: Historic renovation of a 130-year old Masonic Hall and integration into a new trophy office building. Preleased to The Gallup Organization and other high-profile government affairs tenants.- 1717 Rhode Island Avenue, NW: Ground lease with the Archdiocese of Washington for the redevelopment of historic rowhomes and construction of a new Class-A, 156,000 sf office building.- Consulting/project management clients included The Government of Sweden, Bell Atlantic/Verizon, National Association of Realtors, and Cellular Telecommunications and Internet Association.
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Senior Associate, AcquisitionsStarwood Urban Investments, Llc Jan 1998 - Dec 1999Washington, DcIdentified, underwrote, and acquired a significant portfolio of urban retail properties for a joint venture with Starwood Capital’s Opportunity Funds IV and V.- Closed on 18 separate, mostly off-market, transactions totaling more than $100 million in less than twelve months.- Managed a staff of two analysts and cultivated relationships with outside brokers to identify and evaluate on- and off-market acquisition opportunities throughout the Northeast.- Responsible for obtaining acquisition approvals from Starwood Capital’s investment committee and integration of acquisition efforts with in-house due diligence, development, and asset management teams.
David Stern Education Details
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Economics & Finance
Frequently Asked Questions about David Stern
What company does David Stern work for?
David Stern works for Trustequity Llc
What is David Stern's role at the current company?
David Stern's current role is Principal.
What schools did David Stern attend?
David Stern attended University Of Maryland College Park.
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