The New Jersey Center of Excellence in Bridgewater — Courtesy: Advance Realty
By Joshua Burd
Advance Realty has continued its recent flurry of hiring with an addition to its asset management team.
The Bridgewater-based developer said Thursday that it had hired Tim Soulas as senior associate of asset management. His responsibilities in the role will include developing and implementing property-specific business plans for a portion of Advance’s portfolio, along with day-to-day implementation of those plans across its mix of assets.
The firm, which operates across all asset types, said Soulas joins its team after more than five years with The Hampshire Cos. He most recently served as an asset manager with the Morristown-based company, where he oversaw a portfolio of industrial, retail, medical office, mixed-use and self-storage properties spanning more than 2 million square feet.
Soulas also oversaw lease negotiation with tenants while supporting acquisition, disposition and refinancing efforts and making key decisions about property operations and capital needs, Advance said in a news release. He also served as a senior analyst during his time with Hampshire, underwriting and managing valuations for funds totaling more than $750 million and encompassing a wide range of commercial real estate assets.
“We are thrilled to add Tim to our deep and experienced team of asset management professionals,” said Kurt Padavano, Advance Realty’s chief operating officer. “Advance is in the midst of implementing a long-term strategy to expand and diversify our portfolio across the Northeast, and his unique, impressive experience provides a perfect fit as we continue to add invest and unlock new value in all of our assets.”
Soulas graduated from Villanova University with a bachelor’s in business administration focused on finance, as well as a minor in real estate studies.
The new addition follows several high-profile hires by Advance in 2017, including the appointment of Angela Tsai as director of asset management and Diane Pellegrino as financial controller. Advance also added associates Sean Doherty and Sid Desai to its asset management and capital markets teams, respectively.
