APEX REAL ESTATE ADVISORS
APEX REAL ESTATE ADVISORS
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Brent Donaldson
Mr. Donaldson has, since 1980 been among the pioneers in providing liquidity to real estate investors: Apex Real Estate Advisors (1998-present) At Apex since 1998 as managing principal, Mr. Donaldson has directed the firm’s activities: Valuing and investing in portfolios of existing, non-listed, real estate investments on a secondary basis; having pioneered both the retail and institutional secondary market in real estate commingled fund vehicles. Valuing and providing liquidity to entities and investors in entities through recapitalizations and preferred equity investments. Managing real estate private equity funds of funds; In so doing, Donaldson has underwritten fund performance, selected best performing managers and funds; and set the appropriate price of an investment in those funds. Mr. Donaldson has also made distressed debt purchases, led workout and turnaround activities and a provided variety of expert witness testimony as well as advising various public pension plans on buy/hold/sell strategies. Liquidity Financial Group (1980-98) Co-founder and President of Liquidity Financial Group ("LFG"). Managed the operations and growth of the LFG companies. Conducted pioneering research and trading in otherwise illiquid real estate securities Reviewed managers and their funds, both bottom up and top down. Oversaw the management of accounts and conducted research on listed real estate securities. Co-Founded, created and published, along with Ernst & Young and Standard and Poors, the National Real Estate Index, (GRA) presently owned by Charles Schwab. Advised listed REITs and "Opportunity Funds" in acquisitions of property portfolios. Provided advisory and expert witness work re: valuations of various holdings of non- listed securities. Areas of Expertise: Secondary Fund of Funds Manager. Acting as principal, approximately $170 million of principal was invested in approximately $800 million in property investments. The investments averaged "IRRs" of approximately 14%; category performance leaders. Commingled Fund Trading/Advisory. Donaldson pioneered the secondary market in institutional commingled fund interests, overseeing approx. $1.5 billion of trades. Portfolio Underwriting/Valuation. Mr. Donaldson has overseen valuations and pricing of hundreds of entities owning thousands of properties. Valuations, buy/hold/sell analysis, advisory and trade execution contracts for institutions holding illiquid and/or thinly traded real estate securities. A partial list of advised clients is included below. Tender Offer Advisory Work. Donaldson advised Apollo Real Estate Advisors, a real estate private equity manager in NY with in excess of $7 billion under management, on numerous tender offers between 1992-98. Providing underwriting/valuation work on large portfolios including properties nationwide and entity valuation of partial interests. REIT Money Management. LFG advised accounts in traded real estate equity securities, such as REITs from 1987 to 1996. Sold to what became a joint venture between Global Real Analytics and Alliance Capital. Track record exceeded indices. Valuation Work. Valuation and investment advisory work for public entities related to holdings of partial interests in entities holding real estate assets, including;
Professional Affiliations/Speaking Engagements.
Education M.B.A. University of California, Berkeley, Graduate School of Business, 1980
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