A rendering of The Rail @ Red Bank Station, a planned mixed-use project in Red Bank by Denholtz Properties — Courtesy: Denholtz/Rotwein+Blake
By Joshua Burd
Denholtz Properties has announced five new hires, with an eye toward bolstering its internal construction and finance teams in the wake of the pandemic.
According to the Red Bank-based firm, the recent additions include Joseph Fernandez as director of construction and Parth Patel as a project manager, both of whom will support its growing development pipeline. The company has also hired Mark Mahasky as director of capital transactions and William Ryan and Olivia Ham as senior portfolio analysts, as it looks to streamline its accounting, investment, acquisition and development capabilities amid continued expansion in New Jersey and the Southeast.
“Where many saw challenges during the pandemic, we saw opportunities,” said Stephen Cassidy, president of Denholtz Properties. “With an eye towards capitalizing on the opportunities ahead, we have been focused on ensuring we have the proper resources in place to execute our strategic vision for the company. Through retaining and recruiting top talent in key growth areas such as construction and finance we will ensure that we have the depth of bench needed to meet both our short-term and long-term growth goals. Each new team member brings a wealth of expertise and experience to their role further positioning us for continued success.”
In his new post, Fernandez will oversee all construction for a pipeline that spans more than 600,000 square feet across New Jersey, including office, multifamily, commercial flex, mixed-use and custom home projects, as well as third-party build-outs, according to a news release. He will also work directly with Steven Denholtz, the firm’s CEO, and its development team to streamline and bolster its in-house construction capabilities and develop a diverse talent pool, while implementing strategies and new technologies to promote synergy across its construction, development, finance, leasing, marketing and executive leadership teams.
Fernandez brings more than 30 years of experience in project and construction management, having completed work on behalf of Bank of America, Deutsche Bank, Morgan Stanley and Tommy Hilfiger, the news release said. Prior to joining Denholtz, he served as vice president and director of construction for Nucor Construction Corp., where he was responsible for directing the operations of the New York-based general contractor.
As director of capital transactions, Mahasky will work closely with both Denholtz and Director of Development Steven Lidster to support the firm’s growth in New Jersey, with a focus on ground-up development, redevelopment and adaptive reuse opportunities throughout the state, the news release said. He will also collaborate with Cassidy and JP Josephson, the firm’s director of Florida acquisitions, to find deals in Southeast markets such as central and south Florida and Raleigh and Charlotte.
Mahasky previously served as director of investment advisory for JLL, where he worked with an array of private and institutional clients in order to procure new business and create value through advisory of capital events. In announcing his move to Denholtz, the firm touted his expertise in both existing assets and development projects across segments such as multifamily, office, retail, industrial and flex and student housing.
Meantime, Ryan and Ham will leverage new technologies and processes to analyze revenue, expenditures and other key data points across Denholtz Properties’ portfolio, the news release said. Doing so will help the firm’s leadership, development, construction and finance teams make better decisions and improve its performance for investors, the company said, while helping guide new acquisition opportunities across its target markets.
The five new hires come amid continued growth and new projects for the nearly 70-year-old firm, including the mixed-use development known as The Rail at Red Bank, as well as a redevelopment of 26 acres at Fort Monmouth in Oceanport. Over the past two years, Denholtz said it has also sought to dramatically expand its on-the-ground capabilities in the Southeast, headlined by the launch of an Orlando headquarters and the recent addition of Jordan Wean as its director of leasing and business development in Florida.