Broad Reach Retail Partners


 
Broad Reach Retail Partners

Since its formation in 2006, Broad Reach Retail Partners, LLC has focused on acquiring, developing, redeveloping and revitalizing well-located retail real estate properties east of the Mississippi River. Broad Reach has provided its investors with a vehicle through which they can invest in a carefully selected and professionally managed portfolio of properties which has produced a strong track record of financial results.

Since 2006, Broad Reach has purchased five shopping centers and managed and leased a total of 14 shopping centers (the five owned and seven others being managed and leased for third party owners) consisting of more than 1,016,000 square feet with an aggregate value in excess of $85,000,000.

Broad Reach has developed a stable of more than 30 investors. Its current holdings have produced an estimated aggregate IRR of 15.22% since inception.

Management Team

Nate Tower Nathaniel A. Tower

Nathaniel “Nate” Tower is a founder and managing member of Broad Reach Retail Partners, LLC. Prior to the formation of Broad Reach, Mr. Tower was the Chief Investment Officer (“CIO”) at Phillips Edison & Company (“PECO”), one of the nation’s largest and fastest growing owner/operators of grocery-anchored shopping centers and premier acquisition groups.

As CIO, Mr. Tower led PECO’s effort to acquire and finance and took the Portfolio from 5 centers in 1996 to over 90 centers when he left the company in 2005. During this period, Mr. Tower bought 85 shopping centers in 50 separate transactions, with over $490.0 million in total transaction value. Mr. Tower’s leadership and transaction success at PECO increased the company’s Net Operating Income in excess of $50.65 million and the value-add nature of the opportunities created an additional $250 million of net new value for the investors in the company.

Prior to joining Phillips Edison & Company, Mr. Tower spent 7 years at Collier Pinkard, a premiere 3rd party Real Estate Brokerage and Property Management Company in Baltimore. Mr. Tower has his Bachelor of Arts from the College of Wooster and his Masters in Real Estate from Johns Hopkins University. Mr. Tower formed the JEMICY School’s Alumni Association and served on the school’s board for 8 years. In addition, Mr. Tower served as the founding Chairman of the Baltimore Leukemia Cup Regatta and Commodore of the Baltimore City Yacht Association.

Bruce Arinaga Bruce Arinaga

Bruce is Vice President of Acquisitions for the Company. Prior to Broad Reach he was a Partner in Woodmont Capital Partners and RTM Capital where he was responsible for financing over $2 billion in residential and commercial real estate transactions, as well as the acquisition and development of $500 million of real estate in the Mid-Atlantic and Western states. Such developments included over 3,000 units of for-sale and rental residential in low, mid and high-rise ground-up condominium developments, as well as conversions. Mr. Arinaga was also a Principal in TYBA Group Inc., a large Canadian developer, where he was responsible for the development of over 1 million square feet of office and retail development, as well as over 4,000 residential units.

Mr. Arinaga was also involved in the workout of over $2 billion in loans for the Japanese. Mr. Arinaga has over 30 years of real estate and finance experience with the Prudential Insurance Company of America and the National Housing Partnership and has been involved in over $8 billion of real estate development, acquisition and financing transactions. Mr. Arinaga holds a Bachelor of Science from the University of Southern California and an MBA from New York University. 

Mike Castellitto Mike Castellitto

Mike has over 25 years of Commercial Real Estate Experience. In his role as Director of Operations, Mike oversees all capital improvement, construction, and development projects. He has served as Director of Operations for several real estate operators including Phillips Edison Company, Strategic Properties, and Himmelrich Associates.

Mike has been involved in various types of projects ranging from free standing commercial sites, office, industrial, residential, historic, and mixed-use projects of upwards of $300 million. Mike has overseen nearly 5 million square feet of office, retail, and industrial space, and supervised and managed approximately 30 projects in his career.

Mike holds a Bachelor of Science from the University of Maryland, College Park, and is an active participant in ISCS, NAIOP, and BOMA.

Ashley Allen Ashley Allen

Ms. Allen is Director of Leasing for the Company. She has over 20 years of sales experience. She has completed transactions totaling over 3 million square feet, which have generated over $146 million in revenue. Prior to Broad Reach she was a Principal at Sierra US as well as a Director of Leasing for DLC Management and Capano Management Company. In her previous roles Ms. Allen was responsible for over 4 million square feet of space and managed a team of over twenty personnel. Ms. Allen graduated from the Lipsey Commercial Real Estate Development Series, and holds active real estate licenses in MD, DC & VA.

More Information

The Company and its principals have been involved in the following transactions:

  • Acquisitions: 104 shopping centers in 59 separate transactions representing over 10,200,000 square feet of retail property with an aggregate value of $644,000,000.
  • Leasing: 822 separate leasing transaction representing 4,228,978 square feet of retail space, with such tenants as Kroger, Giant, The Fresh Market, Marshalls, TJ Maxx, Food Lion, Stein Mart, Sally Beauty, Dunham Sporting Goods, Verizon Wireless, and others.
  • Management: 6,000,000 square feet of retail space with over 621 tenants
  • Construction: 390,000 square feet involving 42 separate projects
  • Debt Investors: $2.6 billion with bridge, Life Company and CMBS lenders. These lenders included Prudential, Deutsche Bank, JP Morgan, Ladder Capital, Prime Financial, Associated Bank, BB&T Bank, Bank of America, Morgan Stanley, Natixis, and others.
  • Equity: $112,000,000 raised in 14 separate syndication transactions, and 3 investment funds.