ABOUT

Through strong partnerships and deep experience the Sower Capital team in partnership with Access Commercial has the capability to identify, underwrite and execute investment grade development and redevelopment opportunities throughout a variety of markets in the US. Our focus is to create value through the development of projects that are marketable at a significant margin to the actual cost of development. These projects are generally focused on irreplaceable sites in prime trade areas in the markets we target and therefore offer long term intrinsic value to weather any market cycle.

FUND CONTACTS

DARREN HICKS
FUND MANAGER


Darren began his career in commercial real estate with The Dial Companies two days after he graduated from college in 2004.  In May of 2009, Darren and Kirk Hanson formed ACCESS Commercial, LLC to provide focused development and brokerage services to select clients.  In early 2010, ACCESS formed a third-party store development service platform which contracted with expanding tenants to drive their site selection and construction projects.

By equipping a talented team with proven systems and processes, ACCESS now boasts over 300 successfully completed projects across 40 states.  The market knowledge across this geographical footprint, combined with brokerage, design, and contractor relationships in each region has become a key driver of development and investment opportunities for ACCESS and its affiliates.  In addition to day-to-day functions, Darren leads the development and investment team at ACCESS and acts as managing member and/or project developer on behalf of affiliated partnerships.  

Darren is a longtime member of the International Council of Shopping Centers (ICSC) and the Urban Land Institute.  He is a graduate of the Eller College of Management at the University of Arizona with a degree in Business Economics.

MARK SCHULTZ
CHIEF OPERATING OFFICER


Mark began his career in public accounting in Chicago and transitioned into commercial and residential real estate as a Mortgage Banker in Southern California with Citicorp, GE Capital and Deutsche Bank.  He then moved into CFO roles with private equity firms including the Picerne Group and Hopkins Real Estate Group and in 2008 moved to Denver with the Broe Group as CFO/COO.

In 2015 Mark moved to Omaha joining Immanuel Retirement Communities as CFO and has now joined Sower Capital Management as COO/Managing Director.  Mark has closed over $3 billion of structured real estate debt and private equity investments in over 25 states.

He is a graduate of the University of Iowa with a BA in Accounting and has an MBA from DePaul University in addition to being a CPA.

INVESTMENT OPPORTUNITY

MARKETS OF INTEREST


SCM will primarily target Midwest markets where the Principals have operational experience, while demanding a compelling case to enter markets where they do not. The markets of significant interest include mostly secondary and tertiary markets that have a positive outlook for a strong and diverse employer base. These characteristics have been consistent with most investments made to date and have led to predictable outcomes and performance.

PROJECT TYPES


BUILD-TO-SUIT:

The build-to-suit model provides for risk protection and predictability, and will be implemented with tenants and locations that align with our operating profile. The future utility and rent profile of the asset are considered to protect against downside in the event of a tenant rollover. Most importantly, a build-to-suit opportunity provides long-term ownership in very valuable sites.

REVERSE BUILD-TO-SUIT:
SCM has unique relationships with several single-tenant operators that prefer a reverse-build-to-suit model. This model essentially locks in the value at an above market yield and protects the investment from project cost risk. Most importantly, it provides long-term ownership in very valuable sites that will have outstanding 2nd and 3rd generation prospects.

NEW CONSTRUCTION (MULTI-TENANT):
Construction of new projects in markets that can provide a strong commitment from an ideal tenant mix will be considered.  This will include projects that have long-term potential for positive rental growth.  

ACQUISITION OF DISTRESSED PROPERTIES:
The acquisition of distressed properties will also be considered if there is a tangible opportunity to add significant value. Careful consideration will be made to mitigate development risks when evaluating a redevelopment site’s true potential. 

LAND PURCHASE OR ASSEMBLAGE:
If opportunities exist to acquire improved or raw ground that can be utilized for an SCM project in the near term, they will be considered. These purchases will only be considered if the acquisition of excess land allows for a value added opportunity through the land holding period.

 

CONTACT US

Darren Hicks

Fund Manager

402.210.4624

dhicks@sowercapital.com

Mark Schultz

Chief Operating Officer

949.525.8708

MSchultz@sowercapital.com

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FUND CONTACT:
Mark Schultz
Chief Operating Officer
Direct: 949.525.8708
MSchultz@sowercapital.com