Advance Realty Welcomes New Senior Asset Management Associate
Experienced Asset Manager Tim Soulas Joins N.J.-Based Developer’s Rapidly Growing Team
Advance Realty — a leading Northeast U.S. owner, developer and manager of Class A office, multifamily, mixed-use and industrial-space properties — today announced it has hired Tim Soulas as a Senior Associate of Asset Management.
Soulas’ responsibilities will include the development and implementation of property-specific business plans for a portion of Advance’s portfolio, as well as day-to-day implementation of those plans across a diversified collection of assets.
Prior to joining Advance, Soulas spent more than five years at Morristown, N.J.-based The Hampshire Companies, where he most recently served as an asset manager. In that role, he was charged with overseeing a portfolio of industrial, retail, medical office, mixed-use and self-storage properties encompassing more than 2 million square feet, as well as lease negotiation with tenants, supporting acquisition, disposition and refinancing efforts and making key decisions about property operations and capital needs. During his time at The Hampshire Companies, Soulas also served as a senior analyst, underwriting and managing valuations for funds totaling more than $750 million and encompassing a wide range of commercial real estate assets.
Soulas graduated from Villanova University with a bachelor’s degree in business administration focused on finance, as well as a minor in real estate studies.
“We are thrilled to add Tim to our deep and experienced team of asset management professionals,” said Kurt Padavano, Advance Realty’s COO. “Advance is in the midst of implementing a long-term strategy to expand and diversify our portfolio across the Northeast, and his unique, impressive experience provides a perfect fit as we continue to add invest and unlock new value in all of our assets.”
The addition of Soulas comes during a period of brisk growth at Advance’s offices in Bridgewater, N.J. During 2017, the company made several high-profile hires including the appointment of Angela Tsai as Director of Asset Management and Diane Pellegrino as Financial Controller. Advance also added associates Sean Doherty and Sid Desai to its Asset Management and Capital Markets teams, respectively.
About Advance Realty
Among real estate’s most reputable and successful companies, Advance Realty has established itself as one of the industry’s most innovative and forward-thinking firms. Since 1979, Advance has continuously evolved to meet changing market demands by leveraging the creativity and collective knowledge of its team of world-class professionals, while remaining true to its commitment to responsible development. Headquartered in Bridgewater, New Jersey, Advance employs a multifaceted strategy, actively pursuing real estate investments in commercial, residential, industrial, retail and mixed-use projects that present an opportunity to enhance value through development, repositioning and redevelopment. The company currently owns, manages or has invested in a diverse, 10-million-square-foot portfolio of properties across all asset classes throughout the Northeast Corridor. For more information, visit www.advancere.com.