The Preiss Company Promotes John Preiss to Executive Vice President
Wednesday July 21, 2010
Executive looks to grow Raleigh real estate company’s business by 20% by end of year
RALEIGH, NC – July 19, 2010 – The Preiss Company (“TPCO") is proud to announce that John Preiss has been promoted to Executive Vice President. In his role, Preiss will be responsible for growing new business, identifying good debt and equity partners, and overseeing the company’s acquisitions, development, and third-party property management.
Preiss graduated from College of Charleston and began working for TPCO in property management in 1998 and became a fully commissioned sales broker in 2000. In 2007, he joined the Acquisitions and Development Team and was responsible for capital fund raising, as well as property sourcing. In that same year, he was awarded the Certified Commercial Investment Member (CCIM) designation by the CCIM Institute. In 2008, he was promoted to Vice President of Business Development responsible for sourcing capital and debt, as well as increasing the company’s student housing footprint.
During his twelve years with TPCO, Preiss was the top performing real estate broker for seven straight years and has sourced both the debt and equity for $95 million. He also led the acquisition for both University Village at the Coast in Myrtle Beach, South Carolina and University Village at Southern in Statesboro, Georgia. Preiss says that his goal is to “crack” into the top ten student housing providers in the nation and that there are a number of opportunities available to help him achieve this goal.
“The greatest challenge is going to be deciding on whether to concentrate on acquisitions, development, or third-party property management,” says Preiss. “Each economic environment makes one more appealing. The economic environment in the student housing sector is constantly changing. Fortunately, The Preiss Company is well positioned to go into any of these sectors when the right opportunity presents itself.”
TPCO founder and CEO, Donna Preiss, says that [John] Preiss has been successful in a time where most people in his position have been struggling, and his ability to focus on the goal and not get caught up in the minutia continues to make him a valuable asset to the corporate executive team.
“John has an incredible ability to source debt, equity, and new opportunities,” says Donna Preiss. “He not only values relationships, but his relationships value him. His promotion will continue to allow us to help investors grow NOI on our projects while giving our tenants an enhanced living environment.”
In the past 18 months, [John] Preiss has increased TPCO’s property management by 3,200 beds through acquisition, third-party property management, or by bank receiverships. He has sourced $30 million in equity in debt and equity and currently has 1,100 beds under contract, as well as a 300-bed development project. Two of his last projects were selected by Commercial Investment Real Estate—the magazine of the CCIM Institute—as "Big Deals of the Year" for their creativity.
About The Preiss Company
Founded in 1987 by Donna Preiss, The Preiss Company employs over 200 team members and is the leader in the development of new technologies, tools, and strategies for the student housing industry and also acts as a receiver for several national banks. In its 23rd year, the company has formed over 50 partnerships and developed over 20 projects stretching from Maryland to Texas. For more information, visit www.tpco.com.
The Preiss Company