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Multifamily Development
With over
three decades of development experience, innovative design and the
highest standards of construction, Embrey has earned a high degree
of success and an impeccable reputation. Each phase of every development
is infused with a fresh, creative energy combined with the insights
and solution-driven disciplines that the past thirty plus years
have taught us. From analytical site selection and acquisition to
unique design, quality construction and intense marketing, Embrey
ensures that each step of development is a defined and deliberate
approach to success. Intensive market and economic research, with
a strong fiscal foundation in tandem with some of the country's
top financial institutions, assure the viability of Embrey's products.
The result is more than 25,500 units of luxury apartment homes providing
quality residences for individuals who seek the "livability" and
desirability that Embrey developments represent.
Embrey is composed of several affiliated development entities. Embrey
Partners, Ltd. provides development services for market rate multi-family
rental properties and affordable multi-family rental properties.
Trinity Asset Development Company, Ltd. provides development services
for industrial distribution properties, build-to-suit office projects
and retail properties. Furthermore, Embrey, through its affiliates
Arbor Construction Company and Apartment Builders, L.P. provides
general contracting for its own developments as well as third party
work. Embrey Management Services offers experienced management of
multi-family communities for Embrey properties in addition to various
other owners.
Embrey Investments, Inc. was established in 1974 by Walter M. Embrey,
Jr. The company's focus was on the development of multifamily rental
properties, for-sale condominiums and commercial properties in major
Texas cities. With the expanding demand for development in the early
1980's, the company entered new markets on a national scale. During
this period, Embrey conducted business in nine states and established
branch offices in Washington D.C., Tennessee, Florida and Chicago.
These offices developed multifamily, commercial and build-to-suit
ventures in the Southeast, the Midwest, and the Northeast.
During the late 1980's Embrey seized an opportunity to refocus its
development philosophy, and structured a new vision responding to
changing economic indicators. Embrey repositioned itself to capitalize
on the value-added capabilities of a boutique firm with national
development experience.
Within the last ten years, Southwest and Midwest developments have
included 3,578 units in San Antonio, 1,270 units in Austin, 2,414
units in Houston, 1,234 units in Dallas/Ft. Worth, 1,752 units in
Denver, 344 units in Indianapolis, 334 units in Kansas City, 260
units in Little Rock, 324 units in Memphis and 304 units in Phoenix.
The 248 unit Oakmoor Apartments in Houston began lease-up in April
2007 followed by the May 2007 opening of the 271 unit Verde Ridge
Apartments in San Antonio. In the construction phase are the Las
Colinas at Black Canyon Apartment Homes, with 304 units, in Phoenix
and both the 309 unit Inverness Apartment Homes and the 288 unit
Aurora Town Center in Denver. Also under construction is the 280
unit Artessa at Quarry Village. Artessa is part of Embrey's Quarry
Village mixed-use development in San Antonio which will also include
104,000 square feet of specialty retail, restaurants and office.
Cumulatively, Embrey, its principals and affiliates have been involved
in over 150 successful real estate projects throughout the continental
U.S. These developments include over 25,500 apartment and condominium
units, 6.0 million square feet of commercial space development and
several mixed-use projects. To date, developments have been completed
for individual investment purposes, on a third-party basis and through
joint venture transactions. Investor clientele includes major financial
institutions, pension funds, individual investors and Fortune 500
companies.
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Dennis W. Elmore
Senior Vice President, Development
With more than twenty-eight years of experience identifying the prospects of sites and markets across the country, Embrey’s Senior Vice President of Development, Dennis W. Elmore, leads the professional team making those critical assessments. In the realm of multifamily development, the success of each project is determined by the ability of the team to understand and command the impact of the many facets of the development process. Dennis’ team evaluates market conditions on a daily basis to include demographic and economic factors as well as the native, aesthetic characteristics of the land.
Following years of commercial site development for a leading retail corporation and a successful career as a real estate broker and consultant, Dennis joined Trammell Crow in 1982 as Partner and President of Development and Construction in Texas, then Southern California. In 1989, Dennis left the Crow organization to pursue other aspects of the residential business, including lot development and single family home construction, before joining the Embrey team in 1995.
A native San Antonian, Dennis is a 1973 graduate of Southwest Texas State University.
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W. Jeff Booth
Senior Vice President, Development
Twenty-five years in the real estate industry have created a seasoned leader in Jeff Booth. He has spearheaded the development of award winning multi-family units spread over thirteen states overcoming zoning and development barriers in difficult markets such as Boston, South Florida, Washington DC, and the West Coast. Over the years he has also been involved in the development of a broad spectrum of other properties including high-rise office, hotel, condominiums, retail and single family housing.
Jeff’s residential experience in development and acquisitions over the last twenty
years with notable firms such as Tishman Speyer, Lokey Properties, The Midway
Companies, Lawford Real Estate, and The Finger Companies (representing over 7,000
luxury residential units) has honed a unique skill set. These skills cover the
spectrum of development issues including market evaluation, site selection, land
use fundamentals, economic evaluation, project design and construction. Embrey
is known for delivering high quality luxury apartments to the marketplace, and
Jeff has been a significant contributor to this reputation since joining Embrey
in 1997. His
broad knowledge base and team approach to development have armed Jeff with the
creativity he needs to coordinate resources on complex developments.
Currently, Jeff serves on the Executive Committee of the San Antonio Real Estate Council. He earned his degree in Building Construction from the College of Architecture at Texas A & M University in 1981 and played quarterback for the Aggies under Coach Emory Bellard.
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Jim Bruner
Vice President, Development
Jim leads Embrey's development of affordable multi-family rental communities. His education at Texas A&M University and his wide experience in the phases of housing development give him the tools needed to deal with today's increasing governmental regulations as well as neighborhood association involvement in the complex development process.
A licensed Texas Real Estate Broker, Jim's experience includes skills as a loan originator, a mortgage banker and a commercial real estate appraiser. In managing the Embrey development process, Jim is responsible for site planning and architectural direction. He also evaluates and underwrites financing options which can include the sale of tax-exempt bonds and the equity investment from the sale of low-income housing tax credits.
A native Texan, Jim has a BBA and a Master's Degree in Land Economics and Real Estate from Texas A&M and is a member of the Texas A&M Real Estate Professionals and the Real Estate Council of San Antonio.
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Michael
M. Fulton, II 
Vice President, Development
As a Development Partner, Mike
is responsible for Embrey’s development activity in a number of cities
within the Texas and Colorado markets. In 2003, Mike joined the company
and since that time has been active in the development of 7 Class-A
multifamily projects totaling over 2,000 units.
Over the past fifteen years Mike has developed an invaluable skill
set that contributes to his success in multifamily development including
a talent for architectural design and site planning, a technical understanding
of construction and a deep knowledge of finance and economics. Mike
leads a team of professionals through the development process of each
new project from start to finish. This includes sourcing new deals,
securing entitlements, site planning, architectural design, construction
management, lease-up operations and project dispositions all the while
ensuring each project’s economic viability.
Prior to joining Embrey, Mike led a successful management consulting
practice in Denver focused on the operational, strategic and financial
needs of his middle market clients. During that time Mike sharpened
his construction and design skills developing high-end single family
homes in the historic infill neighborhoods of Denver. Prior to this
Mike played a leadership role on the corporate finance teams for two
different public companies where he led strategic acquisitions and
finance.
Mike began his career as a financial analyst in the Structured Finance
Group of Arthur Andersen in New York City. Mike is a native of San
Antonio and lives there with his wife Jaimee and their three children.
They are involved in many civic and non-profit organizations and are
active members of Christ Episcopal Church. Mike graduated Magna Cum
Laude from Texas Tech University with a Bachelor’s degree in Finance.
He is part of the Executive Committee of the Urban Land Institute
San Antonio and an active member of the Real Estate Council of San
Antonio.
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Suzanne White
Vice President, Development
Her experience as a junior development
partner on several multi-family projects, and her disciplined attention to detail
has prepared Suzanne White for the task of orchestrating Embrey's activities
on
the complicated Quarry Village mixed-use project. Suzanne is responsible for
coordinating
all
predevelopment and entitlement activities for Quarry Village. She works closely
with
senior partners in retail development, multi-family development and construction
to
set priorities
and accomplish the myriad of tasks required to process this first of its kind
project in San Antonio through entitlement. In addition to her internal responsibilities,
Suzanne has primary responsibility for directing the activities of consultants
and communicating with city and county officials.
Suzanne is a native of San Antonio and earned a BBA in Marketing from Texas A&M
University. She joined Embrey in 1997 and is a member of the Real Estate Council
of San Antonio, the Downtown Alliance and is a lifetime member of the San Antonio
Livestock Exposition.
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Daniel Zunker
Vice President, Development
Navigating the complexities of the development process, Daniel’s responsibilities include site identification, financial feasibility analysis, site plan coordination, and securing entitlements for multifamily developments. He also assists Trinity Asset Development Company in the pursuit of commercial design/finance/build opportunities through financial analysis and formulating proposals. Before joining Embrey, Daniel worked as a Summer Associate with Stratus Properties, an Austin-based asset management and development company. Prior to business school, he worked in the financial services industry for a national public accounting firm where his client base included prominent real estate companies such as Hines and US Homes.
A graduate of Texas Lutheran University with a BBA, he also earned an MBA from the University of Texas at Austin. Daniel is a Certified Public Accountant and a licensed Real Estate Salesperson. He is a member of the Associate Council for the Real Estate Finance and Investment Center at the University of Texas and the Real Estate Council of San Antonio.
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