Michael Sommers Email & Phone Number

Denver, Co, Us

In June 2015 I opened the Florida Office for Grand Peaks. In the past eight years we have acquired 5,800 apartments in Florida and North Carolina for over $1.250 billion, with some great partners and implemented many renovation plans. My focus is on sourcing new multi-family real estate investment opportunities. Additionally, I oversee value-add projects within Grand Peaks existing apartment portfolio.

For the past several years I have taught MBA and undergraduate Finance courses focused on teaching students to analyze commercial real estate investments.

Oversaw asset management of Fifteen Group's national apartment portfolio (approx. 3,000 units) and contributed to the due diligence process on new acquisitions.

I decided to take the summer off, buy an RV and head out to explore the country with my fiance and puppy. We visited 44 states, 15 national parks and saw the best of what our country has to offer: bears, buffalo, canyons, lakes, beaches, cities and more. Then we spent the month of August in Europe, visiting Switzerland, Italy, Germany, the Greek Isles, Barcelona, Amsterdam and Paris. To end the year, we got around-the-world plane tickets, with stops in Madrid, South Africa (including the lions, rhinos, hippos, zebras and elephants of Kruger National Park), then on to Australia and the Great Barrier Reef, before a final stop in Hawaii. Greatest accomplishment of my life, to see the world with the one I love, while being youthful and having all the energy and strength to enjoy and appreciate it.

• Underwrote new investment opportunities acquiring apartment communities nationwide. Part of the deal team that worked on the Archstone acquisition.• Worked to improve the performance of a $4 billion portfolio of 25,000 apartment units in the Southeastern U.S.• Conducted market research of competing properties’ rents, work to project future apartment demand

Ft. Lauderdale, Fl, Us

• Acted as liaison between property operations and ownership group, managed marinas, retail and hotels in the Caribbean, Mexico and United States• Compared monthly property performance to budget as well as to historical performance, sought to highlight major variances and research the cause of such variances• Evaluated renovation proposals to measure return on investment and made recommendations to management• Reported property performance to lenders, prepared materials to evaluate refinancing opportunities

• Evaluated $10 - $100 million investment opportunities in apartment communities nationwide, priced real estate property as well as distressed/non-performing debt• Improved financial underwriting model for apartment acquisitions, analyzing returns to Kislak and equity partners under different capital structures • Prepared presentations of historical property performance • Wrote private placement memorandums for new acquisitions to raise institutional equity and debt• Made site visits to properties for potential acquisition and evaluated the rental market

• Part of a three man Multi-family housing department, responsible for in excess of $200 million in sales in 2005• Underwrote Senior Loan financing for acquisitions and construction, provided Mezzanine loans from a private “in-house” fund and structured joint ventures for real estate acquisitions• Built and maintained a database of every apartment complex in Southern Florida over 60 units, with ownership data, records of previous sales and rents; contained 2,000 records• Prepared offering memorandums for listed properties, created financial projections, surveyed comps, created maps, took property photos and studied demographics• Underwrote acquisition opportunities to make investment recommendations to the principals of Aztec Group and their partners, visited and studied new markets, coordinated due diligence for joint venture acquisitions

Mba

Education record

Finance