The Preiss Company Announces Appointment of Dan Leff to Acquisitions and Development
Monday May 14, 2012
New hire looks forward to growing the Raleigh real estate company into one of the largest student housing providers in the country
RALEIGH, NC – May 14, 2012 – The Preiss Company, one of the fastest growing student housing providers in the nation, is proud to announce the recent appointment of Dan Leff to the company’s Acquisitions and Development Team. In his role, Leff will be responsible for new acquisitions, development, and disposition of real estate assets in the firm’s portfolio. This includes overseeing the acquisition of new student apartments, managing the development of new and existing developments, and managing the financial underwriting of new acquisitions.
Prior to joining The Preiss Company, Leff was a Partner for L Star, a real estate investment firm in Raleigh that specializes in acquiring distressed debt. The firm partners with some of the country's pre-eminent private equity and wealth management funds to acquire assets across the Southeast. During his almost four years with the company, Leff was involved in the purchase of 10,000 lots across North and South Carolina, established relationships with municipal bond holders which led to the purchase of $45 million in community development district bonds on community in South Carolina, managed land fund to purchase and entitle raw land for future residential developments, and sourced and closed deals for two new builders entering the Raleigh market.
The Preiss Company formed The Acquisitions and Development Team in 2007 and includes key team members that represent over 75 years’ of real estate experience with over $500 million in student housing development and acquisitions, with an additional $145 million in the development/acquisition pipeline. Donna Preiss, CEO of The Preiss Company, says that her company’s aggressive growth plan required individuals with the experience and capability to effectively charge into these new markets.
"Our Property Management platform allows us rapid growth in markets where we currently have product,” explains Preiss. “In new markets, we have developed quick due diligence and transitional programs that allow for successful adaptation to this aggressive growth initiative. We’re very pleased to have Dan join our team and are confident that his skills and expertise will help us continue to be a leader in the student housing industry."
Leff graduated from Arizona State University with a BS in Finance. He brings over 16 years’ of finance and real estate experience to The Preiss Company. He says that he was attracted to the opportunity of working with a group of people who love what they do and are dedicated to being the best in the business.
“I am looking forward to contributing to the continued growth of The Preiss Company and hope to be able to help grow the company into one of the largest student housing providers in the country,” says Leff. “Although there is now a lot of competition in the industry and the student housing space has changed dramatically in the past few years with the addition of new players and equity groups looking for deals, The Preiss Company has grown to be one of the top owners/managers of student housing properties in the country, and I feel lucky to be part of the team.”
The Preiss Company currently operates in eight states (North Carolina, South Carolina, Georgia, Alabama, Maryland, Illinois, Texas, and Pennsylvania) and in 11 markets. The company operates 15,000 beds and has experienced 30% growth in the past two years and is poised to do the same or better in 2012. The company has been a multi-year recipient of the Raleigh Chamber of Commerce's coveted Pinnacle Business Award, winner of the Metro Bravo Award for Residential Real Estate, and winner of the Triangle Fast 50 Award for fastest growing company. Most recently, the company received a Student Housing Business “Innovator Awards” in the category of Best Creative Financing for its Illinois property—University Village at Champaign.
About The Preiss Company
The Preiss Company is currently the fifth largest privately held owner and manager of student housing in the country and the largest woman-owned student housing owner and provider in the nation. For more information, visit www.tpco.com.