PTM Partners Names VP of Acquisitions and Capital Markets
PTM Partners, a real estate investment and development firm focused on qualified opportunity zones, has hire of Thomas Strand as vice president of acquisitions and capital markets.
PTM Partners, a real estate investment and development firm focused on qualified opportunity zones, has hire of Thomas Strand as vice president of acquisitions and capital markets.
In his new role, Strand will source, underwrite and execute new opportunity zone acquisitions and help manage current projects.
Prior to joining PTM, Strand was a director for Building and Land Technology’s investments and development team. He started his career at KPMG, where he worked in financial due diligence within the transaction services practice. After KPMG, he joined W. P. Carey (NYSE: WPC) and was appointed second vice president of corporate finance, serving the firm’s sponsored non-traded funds, as well as the publicly traded real estate investment trust.
Strand holds a bachelor’s degree in finance, accounting and economics from Boston College and a Master of Business Administration degree from Columbia University.
PTM recently launched its second qualified opportunity zone fund, PTM Partners Opportunity Zone Fund II, with a targeted raise of $250 million. The firm closed $40 million for the fund in November and plans to focus on developing residential projects that are price-accessible to large portions of the population.
“With his impressive background in multifamily development and asset management, Tom will be an invaluable asset to help us continue to expand our national portfolio,” said Meyer at PTM. “Tom joined at an opportune time, as we recently launched PTM Partners Opportunity Zone Fund II LP, for which he will play a fundamental role in identifying new investment opportunities.”
PTM’s current portfolio includes:
Watermark, a 453-home mixed-use rental community located in the Buzzard Point neighborhood of Washington D.C., which opened in the summer of 2020 and is currently 22 percent leased.
Soleste Grand Central, a 230,430-square-foot, 18-story, 360-unit rental development located near Miami Central Station in Downtown Miami. Pre-leasing will begin in the first quarter of 2021.
