Michael P. Voulgarakis
- Role
- Managing Director at Southgate Ventures
- Location
- Richmond, VA, US
- LinkedIn followers
- 500 followers
About Michael P. Voulgarakis
As a seasoned Commercial Real Estate Asset Manager and Operational Leader, I bring 19…
Experience
Managing Director
Jan 2020 — Present · Richmond, VA, US
I led the implementation of operational and administrative strategies to enhance the efficiency and financial robustness of a vertically integrated multifamily value-add portfolio and property management firm in Seattle, WA, as well as a mixed-use retail and office development in Richmond, VA, comprised of a $136M property portfolio. I spearheaded underwriting acquisitions, modeled sales valuations, engaged sales brokers, conducted hold-sell analyses, and oversaw lender payoff and closing for permanent debt refinancings and property dispositions. I also directed annual budgeting (OPEX & CAPEX), authored private placement memoranda, and generated asset management investor reports. I raised $11M in limited partner equity, enabling the acquisition of $40M in real estate and expanding relationships with accredited investors and family offices. I also spearheaded the purchase of $10M in new assets by sourcing two off-market deals through direct-to-owner outreach and an additional $20M in new assets by underwriting $900M of prospective acquisitions. I recruited and hired a leadership team—including a fractional controller, fractional technology officer, fractional marketing officer, and support staff—improving cash flow, operations, external marketing, and messaging. I secured $29M in new leases to finance the first phase of a new real estate development (retail), negotiating lease terms with national and local tenants and overseeing broker activities to ensure financing to start construction. Additionally, I increased average new rents by 17%, average renewal rents by 12%, and grew Net Operating Income (NOI) by 24% across the property portfolio by working with property managers to adjust lease terms, reduce utility leakage, and lower expenses.
Education
Southern Connecticut State University
Bachelor of Science, Marketing
New York University
Master of Science, Real Estate Finance
Skills
- Appraisals
- Underwriting
- Real Estate Transactions
- Residential Homes
- Leases
- Condos
- Real Estate Economics
- Property
- Due Diligence
- Real Estate
- Investment Properties
- Commercial Real Estate
- Real Estate Development
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