About

Acre

Founded in 2011, ACRE is a global real estate private equity firm managing capital for institutional and family office investors through a series of private equity and debt funds with AUM exceeding $1.8 billion.

A specialist investor in multifamily housing with a vertically integrated platform, ACRE’s strategies focus on direct real estate equity and credit investments and are concentrated in the United States, with additional properties currently in development in Southeast Asia and the United Kingdom.

Since inception, ACRE has acquired, operated, developed and made loans on over 22,000 apartments across 97 properties and 31 cities.

PLATFORM VERTICALS

Equity

Equity

Debt

Debt

STRATEGIES

TRANSACTIONS TRANSACTION EXAMPLES

TEAM LEADERSHIP

Partners
Les Menkes Founding Partner NEW YORK

Les Menkes is a Founding Partner of ACRE and oversees the firm’s management by directing overall strategy and operations, including all aspects of its capital raising and investment activities. Mr. Menkes has more than 30 years of global investing and capital markets experience. Previously, he was a Managing Director at Morgan Stanley for over 24 years, the majority of which he spent building and leading the firm’s private banking business in Asia. Mr. Menkes built and led businesses in southeast Asia, India, Australia and China and served on the Executive Committee for the International Business. He spent over 26 years living in Hong Kong and Singapore and maintains strong relationships in the region.

Mr. Menkes holds a B.S. from Alfred University and was a developer of the curriculum and a lecturer at the Singapore Management University’s Masters in Wealth Management program. He is a member of both the National Multifamily Housing Council (NMHC) and Urban Land Institute (ULI) and sits on the Global Exchange Council of the ULI.

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Michael Van Der Poel FOUNDING PARTNER NEW YORK

Michael Van Der Poel is a Founding Partner of ACRE and oversees the firm’s management and operations including leading strategic transactions, principal investments and portfolio management. Mr. Van Der Poel sits on ACRE’s Investment Committee and spearheads ACRE’s credit vertical along with the firm’s continued expansion into the United Kingdom. He has over 20 years of experience in international real estate markets, having lived and worked in the United States, Asia and Europe.

Mr. Van Der Poel has successfully invested in institutional real estate and CRE-related transactions globally and is proficient across a variety of asset classes, jurisdictions and sectors in all aspects of the capital stack. Prior to ACRE, Mr. Van Der Poel spent over 10 years as an Executive Director at Ashe Morgan. During his tenor, Ashe Morgan grew to be the largest independent non-bank lender in Asia Pacific, with over $AUD4.0B in annual loan originations.

Mr. Van Der Poel was a primary generator of business personally originating over $AUD1.0bn of transactions and responsible for entering new international markets such as Singapore. Mr. Van Der Poel was born in South Africa and completed a B.S. at Macquarie University in Sydney, Australia.

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Blake Olafson FOUNDING PARTNER SINGAPORE

Blake Olafson is a Founding Partner of ACRE and has spent 28 years in the real estate industry covering all aspects of the direct investment process including origination, underwriting, risk control, and creation of unique deal structures and exits. Mr. Olafson is responsible for the expansion of ACRE’s platform in southeast Asia and oversees ACRE’s flagship developments in Thailand and Indonesia. Prior to ACRE, he was Head of Asian Real Estate at Arcapita, where he was responsible for a $1.8 billion Asian real estate portfolio.

Previously, Mr. Olafson spent several years at Lehman Brothers as a Senior Vice President responsible for principal real estate investments in Asia. Mr. Olafson has been an active member of the Urban Land Institute (ULI), where he currently serves as a Global Governing Trustee in addition to previously serving as Chairman of ULI Singapore and a member of the Executive Committee of ULI Asia. He graduated from the University of Southern California with a Master’s degree in Real Estate Development.

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Daniel Jacobs MANAGING PARTNER New York

Daniel Jacobs is a Managing Partner and leads origination efforts for ACRE’s equity, credit and special situation platforms. Within the credit platform, Mr. Jacobs has originated, syndicated, underwritten and executed over $1.0 billion of multifamily direct lending opportunities since joining the firm. Previously, he was a Vice President at Medley Capital, a $5 billion diversified credit investment firm focused on senior secured and mezzanine loans, where he leveraged his extensive CRE relationships to originate, execute and manage a portfolio of over $500 million of direct real estate loans across all asset classes.

Prior to joining Medley Capital, he was an Analyst in Wells Fargo’s Real Estate Banking Group, managing and monitoring the performance of a $2 billion real estate loan portfolio. Mr. Jacobs graduated with a B.S. in Finance from the Kelley School of Business at Indiana University and attended the University of Sydney.

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Deal Team
Bret Hewett Vice President, Head of Acquisitions & Asset Management Atlanta

Bret Hewett is a Vice President and leads the acquisition and asset management efforts for ACRE’s equity platform. He is responsible for growing and managing a dynamic team of investment professionals responsible for the complete lifecycle of ACRE’s equity investments in a national multifamily portfolio of value-add, lease-up and new development assets. Prior to joining ACRE, Mr. Hewett was Director of Investments at Cortland, a global, integrated multifamily investment and management firm, where he led an Atlanta-based investment team responsible for the acquisition, business plan execution and management of a multifamily portfolio comprising nearly 10,000 units and more than $1.5 billion of invested capital. He brings more than 15 years of commercial real estate experience in the areas of investment management, asset management and development management.

Mr. Hewett holds a MBA degree and a MSRE degree from Georgia State University, and a BA degree from the University of Florida. He is an active member of the Urban Land Institute.

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Stephen Kennelly Senior Vice President, Originations New York

Stephen Kennelly is a Senior Vice President at ACRE, where he will be responsible for originations, underwriting, and portfolio management. Prior to joining ACRE, Mr. Kennelly spent more than seven years at Basis Investment Group, a $4 billion multi-strategy credit investment platform focused on bridge and mezzanine debt, preferred equity, and CMBS/CLO b-piece acquisitions. Most recently a Senior Vice President, Mr. Kennelly was instrumental in the successful raise, management, and deployment of the firm’s first closed-end credit fund, with over $400 million in equity commitments and over $1 billion in transaction volume. Previously, he worked at AST Development, a multifamily development company where he was responsible for acquisitions, underwriting, and oversight of luxury multifamily development projects. Mr. Kennelly is a Certified Public Accountant, and graduated summa cum laude with a B.S. in Business from Montclair State University.

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Lauren Villano Senior Associate New York

Lauren Villano is a Senior Associate responsible for credit underwriting, capital markets management, deal originations and transaction closings. Ms. Villano has more than six years of experience in due diligence, underwriting, structuring, and deal management for over $1 billion of CRE debt opportunities for all asset classes across the U.S. Her transaction exposure ranges from stabilized strategies for core assets to extensive development, repositioning, and leasing strategies for transitional assets. Prior to joining ACRE in 2020, Ms. Villano was an Associate at Guggenheim Partners, where she was responsible for transaction management, underwriting and credit analysis. Previously, she was an analyst at Cantor Commercial Real Estate (CCRE) where she primarily focused on permanent financings for conduit execution. Ms. Villano earned a B.A. in Economics with a minor in real estate from Cornell University. She is currently an M.B.A. candidate at Syracuse University’s Martin J. Whitman School of Management and is a member of Urban Land Institute (ULI) and Cornell Real Estate Council (CREC).

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Sam Browne Senior Associate New York

Sam Browne is a Senior Associate responsible for credit underwriting, managing capital markets, deal closings, and market research for all new originations and existing portfolio loans, and assists in the originations of new loans. Mr. Browne’s more than five years of experience has included CRE acquisitions, underwriting and lending on over $3.5 billion of investments. Additionally, he has experience in executing CLO securitizations, capital markets, b-piece transactions and asset management.

Prior to joining ACRE in 2019, Mr. Browne was a Senior Real Estate Analyst at Granite Point Mortgage Trust (Pine River Capital Management), where he handled underwriting and new originations for the company’s real estate loan portfolio.

Previously, Mr. Browne was an Analyst at Spring11, a subsidiary of Newmark Knight Frank. He graduated from the George Washington University with a B.A., special honors, in Criminal Justice with a Secondary Field of Study in Business. Mr. Browne is actively involved with the GW Center for Real Estate & Urban Analysis and The Dalton School.

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Jon Frizzell Senior Associate Atlanta

Jon Frizzell is a Senior Associate responsible for deal originations, financial analysis, due diligence, and transaction closings. Mr. Frizzell has more than four years of experience in underwriting, due diligence, and deal management for over $2 billion of multifamily investments. Additionally, he has experience in executing value-add and core-plus repositioning strategies, asset management and market research.

Prior to joining ACRE in 2021, Mr. Frizzell was an Associate at Cortland, where he was responsible for underwriting multifamily opportunities and asset management for the company’s Atlanta portfolio. Previously, he was an associate at The Concord Group, a real estate advisory firm. Mr. Frizzell earned a B.S. in Economics with a finance concentration from Duke University and currently is a member of Urban Land Institute (ULI).

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Investor Relations
George Loebrich Head of Capital Formation New York

George Loebrich is the Head of Capital Formation, responsible for business development, consultant and investor relations. Mr. Loebrich has more than 17 years of experience in the investment management business spanning asset allocation, pubic equity and private real estate. George works closely with institutional investors domestically and abroad in allocating capital across equity and debt real estate strategies and servicing client relationships.

Prior to joining ACRE in 2021, Mr. Loebrich was an Equity Owner and Senior Vice President at Clarion Partners, where he was responsible for capital raising and consultant relations predominantly on the East Coast. He was instrumental in launching and building out their subordinated debt platform and qualified opportunity zone series.

Mr. Loebrich earned a B.S. in Financial Economics from Binghamton University. He also holds the Chartered Financial Analyst designation and is a member of the New York Society of Security Analysts.

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Kimberly Mhanna Senior Associate New York

Kimberly Mhanna joined ACRE in 2020 as a Senior Associate, focusing on business development and investor relations.

Previously, Ms. Mhanna was a Vice President at Sorin Capital, a commercial real estate securities investment firm specializing in CMBS and REITs, where she was responsible for investor relations and business development, and a Vice President of Business Development at Kerrisdale Capital, an event-driven long/short equity hedge fund specializing in research activism. Prior thereto, she was Chief of Staff at Gemini/Winklevoss Capital Management, a cryptocurrency exchange.

Ms. Mhanna began her career working in portfolio manager selection at Millennium Management and manager research at Prelude Capital, a managed account platform. She graduated from the University of Southern California with a B.A. in Economics and is a Level II Candidate in the Chartered Financial Analyst (CFA) program.

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Finance & Operations
James Hunt Controller Atlanta

James Hunt is Controller at ACRE and has spent more than a decade working in banking, public accounting, and commercial real estate. Most recently, Mr. Hunt led the accounting oversight for a real estate investment firm specializing multi-family and retail properties in the southeast United States. While there, he implemented processes for client reporting, managed treasury services and oversaw tax and regulatory compliance. Additionally, Mr. Hunt assisted with corporate operations and management.

He is involved in several professional and community organizations including the Georgia Society of CPAs, Savannah Area Chamber of Commerce and United Way of the Coastal Empire. Mr. Hunt is licensed by the state of Georgia as a Certified Public Accountant. He earned a B.B.A. in Finance from Georgia Southern University and completed graduate studies in accounting at Auburn University.

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Bill Doramus Executive Director Hong Kong

Bill Doramus joined ACRE in 2020 to focus on the multifamily real estate business in Asia. Mr. Doramus has more than 16 years of real estate experience in Asia and the United States, including principal investments, capital markets, development and asset management.

Prior to joining ACRE, he was a Director in Crédit Agricole’s Real Estate and Lodging Group in Hong Kong. Mr. Doramus’s previous experience includes positions at Vingroup (Vietnam’s largest listed real estate developer), Lehman Brothers, and Bank of America. Bill received a B.S. in Business Administration from the University of Southern California and an M.B.A. from Columbia Business School.

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Jeff Goldstein Director of Finance Atlanta

Jeff Goldstein is ACRE’s Director of Finance, primarily responsible for financial reporting, cash management, taxes, insurance, internal technology, corporate finances and operations. Prior to joining ACRE, Mr. Goldstein worked for State Street Bank & Trust as a manager in the Real Estate Fund Administration group where he handled private equity and triple net lease clients. He began his career in PwC’s Boston office in the hedge fund and venture assurance group. Mr. Goldstein graduated from Vanderbilt University with a B.A. in Economic History and a Master’s degree in Accountancy.

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Asset Management
Melanie Gersper Chief Operating Officer Atlanta

Melanie Gersper is ACRE’s Chief Operating Officer. Ms. Gersper is responsible for oversight of property management (inclusive of marketing, facilities, recruiting), asset management, and has a meaningful role in acquisitions and dispositions. Her work history includes operating large portfolios of owned and fee-managed assets, both stabilized and new development, in several markets.

Ms. Gersper’s previous positions include COO at CFLane, Senior Vice President of Operations at Bell Partners, President of Operations for Cortland Partners and Regional Vice President of Lane Company. Earlier accomplishments include serving as Regional Manager, as well as in other capacities, for Gables Residential, which was a publicly-traded REIT at the time. She earned a B.S. in Business Administration from Bowling Green State University in Ohio.

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Adam Holt Asset Manager Atlanta

Adam Holt is an Asset Manager responsible for credit asset management. Mr. Holt has more than seven years of institutional experience in commercial real estate finance and banking. His CRE asset management background spans all asset classes and includes exposure to both core and transitional strategies.

Prior to joining ACRE in 2020, Mr. Holt was an Asset Manager at Guggenheim Partners, where he was responsible for the asset management of over $2 billion in commercial mortgages. Previously, Mr. Holt was an Analyst at SunTrust Bank. Mr. Holt received a B.B.A. in Finance and Real Estate from the University of Georgia and an M.B.A. from Emory University’s Goizueta Business School.

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Stephen Collier Asset Manager Atlanta

Stephen Collier is an Asset Manager at ACRE. Mr. Collier has 15 years of experience in US real estate investment management, valuation consulting and banking. He was formerly Vice President at Waypoint Residential, a real estate investment firm focused on acquiring and developing multifamily properties, where he was involved with the acquisition, asset management and disposition of over $1 billion of investments.

Mr. Collier’s previous experience includes roles at BBG Inc., Grubb & Ellis, and Duff & Phelps, and has provided valuation consulting across all types of commercial properties. He began his career at BB&T, where he graduated from the Leadership Development Program and later worked as a Loan Officer within their Commercial Real Estate Group in Atlanta. Mr. Collier received a B.B.A. in General Business from Southern Methodist University and an M.B.A. from The University of Georgia.

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Walker Todd Asset Manager Atlanta

Walker Todd joined ACRE in 2019 as an Asset Management Associate, primarily focusing on assets across ACRE’s equity portfolio and development platform. Previously to joining ACRE, Mr. Todd spent three years as a Senior Assurance Associate with Ernst & Young where he performed financial audits for global real estate firms.

Mr. Todd received his B.S. in Accounting from Clemson University. He is a licensed CPA in the State of Georgia and is an active member of the AICPA and Urban Land Institute (ULI).

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NEWS LATEST INSIGHTS

Our officesCONTACT

Atlanta

670 Dekalb Ave, #100,
Atlanta, GA 30312

New York

401 West 14th Street,
4th Floor,
New York, NY 10014

Singapore

133 Cecil Street,
#06-02 Keck Seng Tower,
Singapore 069535

    Equity

    Michael Van Der Poel
    michael@acremgt.com

    Debt

    Daniel Jacobs
    daniel@acremgt.com

    Investor Inquieres


    IR@acremgt.com

    Accounting & Finance

    Jeff Goldstein
    jeff@acremgt.com