By Joshua Burd
Saxum Real Estate has announced two new principals and a series of promotions as the Summit-based developer and investment firm continues its growth nationally.
The new principals include Chad DeBolt and Sean Gilbert, who both joined the firm in 2016 shortly after its founding. DeBolt, whose title now includes managing director, has served as director of investments and spearheaded a capital markets division that raised more than $100 million in high-net-worth equity, helping to fuel Saxum’s initial acquisitions.
The firm also cited his extensive knowledge of the federal Opportunity Zone legislation, which enabled it to be an early investor and fund manager under the program and drove new growth on a national scale. Now with more than 20 professionals, Saxum has launched multiple new investment verticals while also opening a southern headquarters in Austin, Texas.
Founder and Managing Partner Anthony Rinaldi said he expects DeBolt to continue to play a vital senior management role.
“Chad embodies what it means to be a great teammate and partner,” Rinaldi said. “His selflessness, team first attitude, relentless work ethic coupled with his ability to think critically and make decisions quickly make him a tremendous leader. His leadership has been a critical force to fueling the firm’s growth and success. I am personally honored to work with him every day and I am incredibly grateful for his stewardship of the firm.”
Gilbert, meantime has served as director of acquisitions and has been responsible for managing all origination, underwriting, financing and closing activities for Saxum’s acquisition and joint venture opportunities, according to a news release. He has successfully closed on more than 30 value-add and development transactions for the firm across multiple verticals and asset types, with capitalizations totaling more than $1 billion and 6 million square feet.
Saxum also pointed to Gilbert’s role in leading its growing industrial and multifamily platforms and executing on its first investment strategies in transit-oriented downtowns.
“Since day one, Sean’s leadership has been instrumental in the firm’s growth,” Rinaldi said. “His tenacity, diligence and incredible work ethic coupled with his ability to continuously elevate his approach to acquisitions and investments has propelled Saxum into the firm that it is today. I am incredibly proud of his growth and grateful to work with him every day.”
Saxum has also made several promotions. Dave Schoer, who joined the firm nearly three years ago as its controller, is now vice president of accounting and operations after the expansion of his role beyond strategic financial planning, forecasting and reporting.
In his new position, Schoer will continue to oversee all accounting operations and remain integral in the execution of the processes tied to Saxum’s growth trajectory.
“Dave epitomizes what it means to be a great teammate and leader at Saxum. Since day one, no job has been too big or too small for Dave to solve,” Rinaldi said. “Dave has single handedly created and implemented dozens of processes from finance and accounting, asset and property management to operations and even (human resources). Dave’s diligent thoughtfulness, hard work and his ability to continuously grow has been behind the scenes a major driving force to Saxum’s growth and success. I am thankful to work with Dave and for everything he does to make this firm better.”
The firm has also promoted Lucas Malavarca to senior property manager. He has overseen Saxum’s portfolio of assets as property manager since joining its team two years ago, it said, noting that he has built on his core focus of building operations and management to also focus on management of capital improvements, property accounting, lease administration and marketing. “Lucas is humble and always extremely hardworking, diligently executing on the firm’s portfolio behind the scenes,” DeBolt said. “With his intimate knowledge of building systems and tenant relations coupled with his impressive work ethic and client service skills, he manages Saxum’s portfolio of assets with great ownership and pride. We are all incredibly thankful for all of Lucas’s efforts and the attitude he brings to work every single day.”
Additionally, the company has promoted Caitie Kroeger to marketing manager. She has spent the past two years spearheading Saxum’s marketing efforts, including campaigns of both assets and the firm, while developing a proprietary customer relationship management system.
The firm also noted that Kroeger has delivered institutional-quality branding and marketing for all of its investment vehicles. She will continue to lead all new strategic marketing initiatives while rolling out a complete redesign of Saxum’s website this year.
“Caitie uniquely fuses creativity with clear and concise delivery on regular basis to develop unmatched marketing to seamlessly communicate Saxum’s brand strategy and investment visions,” DeBolt said. “We are privileged to work with Caitie and watch her elevate both the firm’s platform and herself each and every day.”