Stack Real Estate, LLC (“Stack”) is a full service Real Estate consulting and principal investment firm. Stack has procured equity and debt capital on a transaction specific basis for both acquisition and development projects as well as sourced acquisition and development opportunities nationwide for a principal investment platform.
Stack is also providing project management services for residential and student housing development projects. Performed financial modeling and capital markets consulting for land acquisition, residential development, and senior living acquisition and development.
Equity & Debt Procurement
Development / Redevelopment
Legal / Tax Issues
Jeffrey S. Rothbart, JD, LLM, founded Stack Real Estate, LLC (“Stack”) to focus on commercial real equity investments, development, capital markets advisory, and expert witness services. Since its inception, Stack has participated in over $1.5 billion in Commercial Real Estate Transactions.
Mr. Rothbart is experienced in real estate acquisitions, development asset, portfolio management, capital markets, leasing, dispositions, and sustainability. He has been involved in office, residential, retail, industrial, hotel, self-storage, medical, and senior-living operations as an investor, developer, adviser, or expert witness.
In addition to his responsibilities at Stack, Mr. Rothbart is also the Head of Investments for Peer Realty and a Principal at both Birchwood Health Care Properties, LLC and Insignia Homes. In his roles for Stack, Peer, and Birchwood, Mr. Rothbart is currently overseeing the syndication of over $65 million in real estate investments, including two residential subdivision developments, retail centers, and multiple senior living acquisitions and development opportunities. He is also LEED-AP for New Construction (v2.2) and an Adjunct Professor of Law at Chicago-Kent College of Law.
Salt Hill Statistical Consulting Alan Salzberg is Senior Statistician and Principal of Salt Hill. Dr. Salzberg's focus is statistical analysis, sampling, estimation, and modeling, especially using large or complex datasets. Many of Dr. Salzberg's consulting projects relate to the detection and measurement of bias or fraud. Dr. Salzberg has testified as an expert witness in statistics in multiple venues. Prior to joining Salt Hill, Alan was CEO at Analysis & Inference. He has also held positions at KPMG (in its Economic Consulting group) and at Morgan Stanley. Dr. Salzberg holds a Ph.D. in Statistics from the Wharton School of the University of Pennsylvania, where he also received a Bachelor of Science in Economics. For musings on everyday probability, see Dr. Salzberg's blog: "What are the chances?"
Steven D. Epcar, CPM an Expert in Real Estate and Property Management Issues with 35+ years of experience;including residential, commercial, retail, hotel, condominium and mixed-use properties. Experienced in litigation support including standard of care, partnership conflicts, brokerage issues,landlord/tenant, valuation, personal injury, habitability, environmental, life safety cases.
Steven is a member of the Forensic Expert Witness Association (FEWA). He serves as a real estate consultant for institutional and private investors, providing an array of services: asset/property management related assignments, organizational assessments, financial feasibility, due diligence,and new development services.
Previously, Mr. Epcar served as President, Residential Services for Carmel Partners a R/E investment/management firm in San Francisco, Principal/Founding Partner of Ventana Property Services, a West Coast third party management and consulting firm and President,Prometheus Management Group,a development/investment/management firm.
Michael F. Richards is a Banking Expert Witness and Consultant with more than 34 years of experience. His experience as a Founder, President, and Director of two De-Novo banks and the head of a work-out department for a regional bank give clients and attorneys a crucial behind-the-scene understanding of all aspects of banking.
Mr. Richards' experience in heading a work-out department provides a wealth of knowledge in litigation testimony from the perspective of a bank officer. He has extensive experience in Lending, Lender Liability, Banking Operations, Regulatory Oversight, Policies, Procedures, and Standards of Care in the Banking Practice. Mr. Richards' represents both Plaintiffs and Defendants. Over the past 7 years he has been retained in over 95 cases in 33 different states.
Areas of Expertise:
De Novo Start-ups / Fundraising
Banking Practices, Policies, and Procedures
Standards of Care
Bank Officers’ / Directors’ Conduct, Actions, Negligence
Maurice Robinson, ISHC, CRE, ASA, is an expert in the field of hotel and resort consulting. He has been facilitating the development and redevelopment of high-end, full-service hotels and resorts for over 30 years.
Additionally, Mr. Robinson has been providing litigation support services, strategic advisory services, hotel repositioning, market feasibility studies, and appraising hotels and other hospitality-related real estate. His expertise includes advising clients on development planning, deal structuring and financial issues, dispute resolution, workouts, and expert witness testimony related to hotel and resort development and investment.
Qualified Expert Witness & Consultant in Hotel and Real Estate Industry Business Issues:
Recently, we were engaged by the National Park Service (NPS) to appraise the structures and other improvements that have been constructed by commercial vendors or "concessionaires" operating hotels, restaurants and other hospitality services in National Parks.
Litigation When a case is not to the point where an expert needs to be designated, clients and attorneys often benefit from consulting with an expert in order to gain a better understanding of the strengths and weaknesses of their case. Our firm offers services in these early stages, allowing the attorney to consider key questions, such as whether or not the case has enough value for litigating, potential settlement value, and often times forming the framework for discovery requests. With our in-depth experience in banking and real estate, we have been able to help our clients identify key issues to investigate in a deposition, consider different complexities of a case, and assist in fact development by suggesting documents or information to request. When we work in this consulting capacity, our communication is covered by the attorney-client privilege, so our clients and attorneys are free to discuss trial strategy without the worry of discoverability. This has allowed us to add value by performing preliminary analyses to assess the viability of different strategic directions for the case.
Bank Negotiation Situations may arise where you could benefit from the knowledge and experience of an unbiased party in a financial situation. Whether you need help negotiating a short sale on your commercial property, working with the SBA, or renegotiating an operating line of credit with your bank, we can help. Our many years in the banking industry have given us the knowledge and contacts necessary to help you through the transaction. For these situations that require a greater depth of experience than you may have on staff, JBH Real Estate Experts can do the job on a project basis.
Real Estate Brokerage
Jay Hibert is a licensed Real Estate Broker CA BRE #01523075 . He is happy to assist your existing broker, or he can represent you in a transaction. Jay's expertise is in negotiating transactions between buyer and seller, identifying purchase opportunities for 1031 exchange, contract review, and arranging financing.
Errold Moody, PhD, MSFP, LLB, has over 50 years of experience analyzing Personal Financial Issues, including literally all elements impacting an individual. His current website, Financial and Economic Daily Commentary 2021, has been hailed by USA Today as, "...a high-powered personal bookmark list that spans the spectrum of the truly useful," and Forbes as a site, "...to find some great information."
Consulting Services - Dr. Moody's is a consultant on various issues in the areas of Real Estate, Stocks, Bonds, Limited Partnerships, Divorce, Taxes, Estate Planning, Retirement Planning, Ethics, Social Security, Medicare, and Behavioral Economics. His major focus for the last decade has been in the research and development of real life processes and documentation to lower risk in investing. In recessionary economies, losses would be about 12% to 15% (S&P 5000) versus 49% in 2000 and 57% in 2008. Investors must be told their Risk of Loss prior to utilizing any investment allocations and to be told by the firm/agent what will be done to mitigate the potential losses.
Dr. Moody cautions novices against attempts by Planners, Brokerage Firms, Advisors, Analysts, State securities and insurance offices, ERISA, Consumer Federation Protection Bureau, SEC, FINRA, Department of Labor, Consumer groups (AARP, Consumer Federation of America) 401k plans, and general instruction, to clearly define theElement of Investment and Insurance Risk.
This article asserts that investor problems are caused primarily by one major issue - lack of knowledge. Knowledge is woefully nonexistent at all levels in American financing, investing, and retirement planning. This article examines the various recent systemic failures that demonstrate how lack of knowledge, along with forces and incentives, continue to promote system failure despite its grievous impact on individuals, especially the elderly who
What’s the issue? The inverted yield curve. The great injustice to all is that this fact was known by (apparently) just a few due to poor initial licensing instruction/knowledge as defined by the SEC/FINRA (where there is nothing on how to use a financial calculator) and inadequate continuing education by the planning organizations (CFA, CFP, ChFC, CPA et al;) overseeing their memberships. (And it made little inroads with my students in 1999.
There really ain’t none. You are going to find that most texts actually do not address risk properly. This is the type of graph in instruction and it can include other sub categories. But no matter how one wishes to use one type versus another, what one is really concerned about in bottom line of investing is: How Much Can You Lose
Arbitration cases submitted to the NASD generally cover the issues of negligence, breach of contract, breach of fiduciary duty, unsuitability, failure to supervise and misrepresentation. For most purposes, they all tend to say the same thing- a failure to gauge risk
From showing readers how to find advisers they can trust to dispelling myths about asset allocation, dollar-cost averaging, and more, No-Nonsense Finance is the ideal financial reference. Readers will enjoy, and profit from, Moody's irascible, often irrev
Phillip G. Cantrell is a nationwide provider of Consulting Services for the Mortgage and Banking Industry. He has 45 years of experience in his field. Mr. Cantrell is a former advisor for the Federal National Mortgage Association (FNMA) and has done work for the FHLMC. He consults with State and federal agencies and possesses in-depth knowledge in all areas of operations of the mortgage industry.
Mr. Cantrell is uniquely qualified to assist in evaluating income and financial needs. He has served on both state and national MBA committees, been a speaker at regional conferences, and served as a consultant and expert witness to federal and state fraud enforcement agencies.
In 2000, Mr. Cantrell founded Capital Lending, Inc. As President and CEO, where he was responsible for all lending activities, including residential, underwriting, construction, commercial, and the purchase and sale of loans. In 2014, he assigned his NMLS license to McGowin King Mortgage. Mr. Cantrell currently originates traditional and reverse loans and brokers to McGowin King for processing, underwriting, and closing support.
Cambria Associates has provided consulting services to the Banking, Finance, and Real Estate industries for more than 24 years. Serving more than 100 clients over the years, and currently working with 30 banks, thrifts and credit unions with assets ranging from $100 million to $12 billion, Cambria Associates operates primarily in the Chicago area, but also in New York, California, Florida, Wisconsin and Iowa.
Cambria Associates focuses primarily on asset and loan review for its clients, with watch-list credits, analysis of risk ratings, quality of documentation and administration, adherence to policies, and monitoring and recommendations. Their partial client list includes Banco Popular NA, Glenview State Bank, Charter National Bank, Tuscola National Bank, Buffalo Savings Bank, Blackhawk Community Credit Union, Hawthorne Credit Union, Devon Bank, THE National Bank, Farmers & Merchants Bank and Trust, Foster Bank, Western Springs National Bank, and High Country Bank.
Banking Industry Services
Bank Acquisitions Due Diligence
Real Estate Lending
Regulatory Response / Repair
Banking Litigation Support
Principal, John B. Schnure, President of Cambria Associates, has 40 years of experience in Banking, Bank Management, Lending, Loan Review Due Diligence, and Commercial Real Estate. He has worked with Cambria Associates for over 25 years and has worked with over 100 banks as clients over the years.
Background - Mr. Schnure holds an MBA from Columbia University with majors in International Business and Real Estate, and a BBA from University of Cincinnati with a major in Finance. He has post-graduate study at Dartmouth College and University of Virginia Business Schools. Mr. Schnure has been President and CEO of three Chicago area banks/thrifts, and prior to that was Vice President of The Northern Trust Company in commercial lending and management.
BHK Associates, Inc. (BHK), is a Banking / Finance firm comprised of former bank presidents, chief executive officers, chief creditor officers, and chief lending officers. BHK clients include banks, credit unions, title companies, financial institutions, and insurance companies.
Advisory Services - BHK Associates, Inc., provides a broad range of advisory services to the financial industry and its clients, involving a number of disciplines: Banking Industry Standards & Best Practices, Strategic Planning and Performance Reviews, Banking Operations, Construction Lending, Due Diligence Reviews, Merger & Acquisition Reviews, Troubled Debt Restructuring, Real Estate Appraisal Issues, and more.
Special Credits & Loan Workouts - Their experts have years of experience advising in the areas of special credits, loan workouts, and collection. Specific areas of expertise include: Problem Loan Review & Classification, Problem Loan Workout Strategies, Negotiating Loan Workouts & Forbearance Agreement, Asset Disposition and Loan Sales, Intra-bank disputes, Problem Asset Valuation, Loan Quality Assessment and Analysis, etc.
Brian H. Kelley, Founder and Principal, is a seasoned Banking Executive, Lender, and Attorney with over 30 years of experience in lending, top management, and legal positions for both regional and larger commercial banks in California, Arizona, Washington, and Oregon. He has served as the CEO of three successful community banks and the head of a Multi-Billion Dollar lending group with a large international bank.
Mr. Kelley earned his BA and JD from Brigham Young University. He has been admitted to the CA, UT, and HI Bar Associations. He also has extensive professional course experience in loan underwriting, credit analysis, corporate finance, and lending practices. Mr. Kelley has been a featured speaker and panelist for various industry groups, including the Mortgage Bankers Association and the National Hotel Finance & Investment Conference.
Bedrock Investments Group (BIG) acquires undervalued, strategically located single tenant net leased properties that deliver predictable cash flow to our partners. Their streamlined Commercial Real Estate Acquisition Process, and in-depth Due Diligence, result in noteworthy investment opportunities. BIG's conservative, disciplined approach results in investment performance that provides for consistent cash flow and equity growth. BIG has an exceptional track record of delivering cash flow at above market rates without burdening their properties with debt.
The team at BIG identifies undervalued net leased properties throughout the U.S. that have solid fundamentals and creditworthy tenants. They acquire and hold these freestanding, single tenant net leased (STNL) properties as long-term investments. Typical sellers include estates, partnerships in dissolution, lender REOs, and investors facing less than three-year lease terms
Complete due diligence and acquisition thoroughly and quickly, thereby ensuring the seller of a timely transaction
Centralize the decision-making process by eliminating the need for many layers of approval
Evaluate worst case scenarios
Provide hands-on, active property management at competitive rates
Dr. Dick Bridy, a Principal at BIG, brings over 40 years of broad experience in Commercial Real Estate Acquisitions and Development to the firm. He is the entrepreneurial founder and CEO of DBI Group, a boutique real estate firm specializing in commercial retail centers and single tenant properties.
Throughout his distinguished career, Dr. Bridy developed expertise in team brokerage, leasing, private equity funding, construction, and asset management. From the ground up, he and his team entitled and built two shopping centers and five single tenant properties. In addition, he has supervised the redevelopment of over 3.5 million sq. ft. of gross leasable area in 14 shopping centers. Through extensive research, market valuation, physical inspection, and financial analysis, Dr. Bridy targets ideal properties with maximum economic potential for Bedrock’s portfolio.
MCS Associates is a nationally recognized consulting group that has provided financial, operations and regulatory/compliance consulting services nationwide to financial institutions, insurance companies and regulatory agencies as well as real estate and financial services organizations for over 40 years. Expert Witness and Litigation Consulting are a primary focus of our services. We undertake expert witness assignments throughout the United States and our clients include several hundred leading law firms around the country, working on behalf of both plaintiff and defendant financial institutions, borrowers, depositors, investors, developers, insurance companies and their insured, securities/insurance/real estate brokers/agents, regulators and government agencies, and individuals.
Together with MCS Associates’ specialized resources in banking, financial services and real estate, we also draw on key strategic alliances in insurance, economics, academia and the securities industry to meet a wide range of expert witness needs. Our litigation experts include experienced bankers, lenders, consultants, regulators, managers, brokers & agents in insurance, real estate, and securities; insurance claims and underwriting managers; economists, accountants, appraisers, real estate analysts, and academics.
William H. Purcell has over 40 years of experience in Investment Banking, Mergers and Acquisitions, and other Finance Issues. He is currently a Senior Director at Seale & Associates, a boutique investment bank with both U.S. and foreign clients. Seale is focused on Mergers and Acquisitions, Corporate Finance Advisory, and Strategy Consulting.
Mr. Purcell's past client coverage includes such companies as Anheuser-Busch, Hoechst Celanese, Volkswagen, and Metropolitan Life to name a few. He was also appointed CEO of a publicly-traded company going through bankruptcy proceedings. Additionally, Mr. Purcell has been a director on several corporate boards. Through his relationship with Seale & Associates, Mr. Purcell has affiliations with professors at The George Washington University Business School and the University of Virginia Business School. He has been an occasional guest lecturer in investment banking and finance at George Washington University and Monmouth University.
Consulting Services Include
Mergers and Acquisitions - LBOS and Recapitalizations
Advice to Special Committees of Boards and Trustees