Michael Penner joined HSR in 2019 to grow its portfolio management business. As part of HSR, Mr. Penner works on opportunistic value-add real estate asset acquisitions, ownership and repositioning strategies focusing on risk mitigation and operating execution though the lifetime of the investments. Prior to HSR, Mr. Penner had been an acquisitions and new development associate for Monday Properties, a New York based owner, developer, and operator of real estate where he underwrote real estate acquisitions of varying property types throughout the U.S., Latin America, and Europe. He was responsible for risk analysis, market research and property level due diligence as well as the firm investor solicitation and prospective lender processes.
Prior to Monday Properties, Mr. Penner worked as an associate at Summit Equities, a New York-based Commercial RE Investment Firm, where he maintained proprietary commercial real estate market research data, industry trends and market intelligence, for investment and property management use. He oversaw the property and asset management of a 300-unit value-add multifamily investment including cost analysis on value-add initiatives, P&L management, and marketing and tenant services. He oversaw the property and asset management of a Manhattan condominium conversion, including developing the company’s condo conversion policies and procedures manual with systemic protocols enhancing the investment value and sales marketing initiatives.
While in college in 2008, Mr. Penner worked as an analyst at CB Richard Ellis Global Investors Capital Partners, where he underwrote debt investments from $15 million to $250 million including Mezzanine, Preferred Equity, B-notes and CMBS B-pieces and legacy investment grade bids and bridge construction loans for all asset types such as retail, office, multifamily, mobile home parks and industrial assets. He managed all phases of the due diligence and execution process from opportunity assessment to third-party reports, property operating statements, site inspections, borrower financials, market reports, property leases and legal documents including the preparation of credit committee application and overseeing loan closings and Loan management.
Mr. Penner has a passion for the outdoors and is an avid greater Los Angeles wilderness hiker and as a former D-1 College Rugby player continues to be a dedicated rugby enthusiast.