Every industry watches its younger generation for a myriad of reasons. Sometimes, as in tech, younger workers are on the leading edge of new products. In other industries, this cohort may be setting the tone and pace for future processes and ways of doing business. For many categories, the youngest entrants are an indicator of the energy entering the space. In commercial real estate, it could be said that it is a combination of all of the above. We think you will agree as you read about the achievements of this year’s selection of our 50 under 40. On the following pages you will find stories of companies formed, unique deals forged and many millions of dollars transacted.
As an entrepreneurial thinker, BJ Kuula uses his ambition to find new opportunities for American Capital Group, where he currently serves as president and chief investment officer. As part of ACG’s executive team, Kuula drives the firm’s evolution from a traditional real estate manager and developer into an innovative, full-service commercial real estate enterprise platform. This transformation has allowed the company to build institutional relationships and deploy capital to provide housing options that create sustainable economic development and growth. Today, ACG owns and manages more than $1.75 billion in assets, and since its inception, it has created more than 15,000 apartment units. Throughout the past six years, Kuula has raised more than $689 million in equity from institutional and high net-worth partners and he invested the capital in multifamily assets totaling more than $1 billion in project capitalization. Kuula also raised his own discretionary fund totaling $40 million in capital within six months in an effort to continue deal activity and investment for ACG despite market constraints. Kuula has also led the company into new areas of business. In less than 18 months, he developed a business plan for ACG to participate in Opportunity Zones, he selected sites and closed on equity and debt financing for a $75.5 million OZ investment. He also saw an opportunity to address the commercial real estate industry’s challenge of illiquidity and co-founded Abstract IQ, an end-to-end enterprise solution for investing, fundraising, trading and investor servicing that aims to democratize real estate investment opportunities. The company has achieved $100 million in real estate investment opportunities on the platform.
Read more. For full article: 50 Under 40 | GlobeSt.com