Ben Edson
Edson Holdings
Ben Edson is a serial entrepreneur with over 25 years of experience within real estate. He is the manager of Edson Holdings which invests in real estate, private equity, and clean energy projects. His experience includes construction, management and finance within multi-family and single family real estate assets.
In 2021, he sold his technology business to a Fortune 500 company while simultaneously building and selling over $20M of luxury houses and managing investments in student housing, apartment complexes, and REITs. His award-winning business provided highly technical expertise to U.S. Government agencies.
Mr. Edson is very active in the affordable housing space with a 2023 acquisition of a 240,000 SF office building Trenton NJ to be converted to 170 affordable housing units through the Section 42 LIHTC program.
Ben Edson currently serves on several boards of directors and is a key investor in multiple real estate projects. He has served on the board of directors for the Small and Emerging Contractors Advisory Forum (SECAF) since 2015, and WorkSource Montgomery from 2015-2019. He was awarded the Washington GovCon Executive of the Year award in 2015, and Montgomery County Chamber of Commerce’s Small Business Leader of the Year and Washington SmartCEO’s Family Business Legacy awards in 2016. His company VariQ, was named Cybersecurity Company of the Year by Montgomery County in 2015 and received the ACG Capital’s Growth Company of the Year award in 2017.
Ben earned a bachelor’s degree in Business Administration from the University of Phoenix, and an MBA and Master of Science in Information Technology from the Carey Business School of Johns Hopkins University.
Alan J. Michales
www.merithotelgroup.com
Investment, finance, asset management and disposition, marketing, hospitality management and market research in a variety of real estate disciplines.
Alan Michaels, through Merit Hotel Group, has owned and operated Marriott, Best Western, Starwood and multiple independent hotels and resorts. Mr. Michaels currently owns and operates the SpringHill Suites by Marriott, Bel Air, Maryland. Mr. Michaels also provides a role as a senior advisor for Global Lodging Advisors which included lender evaluation of a 900-room convention hotel in Washington, D.C. and a ten-hotel, full-service chain in Kuwait and the United Arab Emirates. Further engagements have included oversight of several Washington area full-service hotels such as Sheratons and Hyatts as well as the development of a land valuation model for an affiliate of Morgan Stanley Real Estate Services.
Merit Hotel Group has simultaneously managed 514 rooms across five properties. These included Marriott, Starwood, Best Western and independent properties. These included full-service, select- and premium select service hotels. One independent property was a waterfront full-service, new-build hotel with Merit providing pre-construction concepts, coordination, evaluation, pre-opening and ongoing management for the first several years of operations for its third-party owner.
Merit has always had the experience as an owner/operator and approaches hotel management from the prospective of maximizing investors’ returns while providing a complete guest experience through a warm and friendly hotel environment.
Alan Michaels has significant experience in all aspects of marketing and media having spent the earlier part of his career managing multi-million-dollar media budgets from creation through implementation.
Most recently, Mr. Michaels has pivoted to the multifamily market segment with a focus Section 42 LIHTC to assist in converting existing hotels and office space to affordable housing. He is the managing member of the purchase of 240 West State Street, Trenton NJ which will be converted into 170 affordable housing units.
Mr. Michaels has also successfully arranged debt, equity, and construction financing for a variety of real estate developments throughout the Washington, D.C and Baltimore marketplaces. Mr. Michaels majored in Electronic Engineering and Business Administration at the City University of New York. He has also attended numerous managerial technical and behavioral seminars.
Mr. Michaels is an active member of the board of directors of Constellation Music in Washington DC, a 501(c)(3).
Alan Michaels
301.802.1250
www.merithotelgroup.com
Mark Hall
Co-Managing Principal/Partner Astoria Housing Partners LLC.
Responsible for sourcing and equity placements, Mr. Hall’s extensive experience in the multifamily housing industry goes all the way back to 1984. During that time, he has overseen site acquisition, pre-development design, construction, and property management nationwide including having supervised the development of thousands of apartment units with “Affordable SetAsides”. As a founder and Co-CIO at Allagash Opportunity Zone Partners, Mr. Hall has used his extensive experience
in structuring affordable housing transactions (currently closing Woodlands Apartments – 151 DUs of LIHTC). He has financed, arranged financing for third-party borrowers, and acted as a lender, utilizing various government subsidy programs for many of these projects.
He has wide experience in the tax-exempt bonds structures within such financings including: GNMA Securities, FNMA forward commitments, Commercial HUD loans, Letters-of Credit, and Unrated Bonds. Mr. Hall most recently served as an advisor for a fully integrated hotel owner/operator with over 4,000 full-service rooms under management across the U.S., as well as a consultant to a Chicago-based SEC registered investment adviser with $3 billion in a variety of CRE property types under management.
In these roles, Mr. Hall has consulted on investment, development, and operational activities. He was responsible for arranging acquisition financing for and leading the acquisition of the majority of the hotel owner/operator’s current portfolio of older, full-service mid-market hotels. Post- acquisition, Mr. Hall conceptualized the repositioning of these properties by converting upper floors to apartments, upgrading lower floors to a boutique higher-end hotel product, and renting ground floor as niche retail. As a result, these projects eliminated the issue of high vacancy for underperforming, aging properties in order to maximize asset values and achieve significant success for investors. From 2010-2017, Mr. Hall was a Managing Director and the Senior Investment Banker for Private Equity Commercial Real Estate transactions for Brean Capital LLC.
In addition to banking private equity and private debt transactions, he supported the trading floor on any purchases of CMBS or whole loan participations. From 1996 to 2009, Mr. Hall worked for GE Real Estate as a Senior Director in the Strategic Accounts Group. In this role, he had responsibility for equity investments in and co-investing with US-based opportunity funds and public REITs/Companies. Mr. Hall led investments in numerous CRE value-add and development projects alongside GE’s premier clients and counterparties, including Carlyle, Starwood, Apollo, and Colony Capital. Additionally, he bought billions worth of properties for GE in secondary markets, while also having responsibilities for general commercial real estate lending and originating billions in CRE loans. In 2008, Mr. Hall was selected for and successfully completed the rigorous and highly acclaimed Crotonville, NY Senior Management Training program for GE’s Senior Management personnel.
Mr. Hall started at GE as a Senior Banker in the Commercial Mortgage-Backed Securities Large Loan Group where in his four years, he generated 90% of the net income for the entire group. Prior to joining GE, Mr. Hall was Director of Originations and a member of the Board of Directors of Wingate Capital (now CW Capital) from 1991-1997. He headed up national production for Continental Wingate’s retail commercial mortgage group focusing on FHA/GNMA Project Loan transactions. In this role, Mr. Hall oversaw the originations, underwriting, and closing of billions of affordable multi-housing rental properties nationwide under HUD Full Insurance programs. In doing so, Mr. Hall processed the very first 241F done in the country as part of the Emergency Low-Income Housing Preservation Act. He also supervised the Firm’s process of obtaining their FNMA DUS license.
From 1988-1991, Mr. Hall was Head of Acquisitions for the Kidder/Wingate Funds I & II, which managed over $100 million to acquire equity interests in multifamily rental housing nationwide. During his tenure these funds outperformed all contemporary listed GNMA/Affordable Housing funds.
Mr. Hall is very active in the affordable housing space with 2022 and 2023 acquisitions which include substantial MF projects in Saint Louis, Cincinnati and Trenton NJ. Cincinnati (120-units) and Trenton (170-units) are LIHTC projects.
Jack Reed
Senior Analyst
Jack began his career with an institutional capital markets and investment sales team in New York City, where he specialized in brokering office-to-residential conversion projects and conducting in-depth analyses of complex conversion opportunities. His expertise extends beyond office-to-residential conversions, encompassing intricate real estate transactions that go beyond traditional fee-simple sales.
Jack has structured innovative solutions for clients, including 99-year ground leases, joint ventures, and recapitalizations. His ability to navigate these multifaceted deals highlights his strategic approach to addressing client needs in a dynamic real estate market.
During the FDIC’s takeover of Signature Bank, Jack was pivotal in the analysis and valuation of over 500 commercial properties in Manhattan for Rialto Capital. His efforts contributed to the successful acquisition of a substantial portfolio of Signature Bank loans by Rialto Capital and Blackstone.
Jack’s career reflects a profound understanding of the complexities of real estate transactions, market dynamics, and strategic execution. His experience positions him as a trusted advisor in navigating the challenges and opportunities of the evolving real estate landscape.
Jack holds a degree from Fordham University.