SAN FRANCISCO, July 1, 2021 / PRNewswire / – Real estate investment firm Archer hired Miles Pratt as Managing Director for Real Estate Acquisition. In this role, Pratt is responsible for identifying and exploiting investment opportunities across countries. United States on behalf of Archer and his clients. He is also responsible for building and maintaining relationships with private and institutional investors.
“Miles combines a unique combination of real estate expertise, OTC expertise and a willingness to challenge the status quo with unique approaches to data and technology,” says Thomas Foley, Co-founder and CEO of Archer. “We are thrilled with the opportunities Miles will help uncover as he works with our clients and investors to find and execute targeted real estate acquisitions.”
Pratt introduces Archer’s first acquisition officer. He has 16 years of experience in commercial real estate. During this time, he made deals worth more than 1 billion dollars in several types of real estate, including multi-family, retail, office and mixed-use.
Prior to joining Archer, Pratt served as CEO of Glade Street Capital, an investment firm specializing in unique OTC and mid-market opportunities in Washington region. In this leadership position, he focused on the creation of apartment buildings and land plots, as well as opportunities for value creation and change.
Pratt also spent over nine years with Arlington, Virginia.based on the interests of McCaffery. During his time at a private development and investment firm, he held four different positions, including vice president of finance and acquisitions. He was responsible for the implementation of strategies for the acquisition and development of various types of property.
Pratt’s most notable deal was 1600 Smallman Street and the production terminal at Pittsburgh Strip District, a joint venture between McCaffrey Interests and BentallGreekOak. More than $ 100 million in the capital. McCaffery Interests was named Developer of the Year 2019, and both were ranked in the Top 10 in Pittsburgh in 2020.
“At Archer, we believe real estate data and technology is best used when it is combined with the experience and intuition of local operators and industry veterans,” says Fred Canny, Co-founder of Archer and CFO / COO. “The addition of Miles to our team demonstrates our commitment to this approach.”
Archer’s proprietary technology platform, the Actionable Insights Model (AIM), helps investors find opportunities by converting raw, disparate data into actionable market analytics with the click of a button – which typically requires an army of analysts and takes weeks, if not months.
Using behavioral ownership triggers, AIM creates an estimate of “seller propensity,” allowing acquisition teams to focus on the most likely trades, such as the most important trades. The platform also provides customized recommendations based on clients’ preferred locations, previous investments, and areas of interest. Featuring proprietary cash flow forecasting models with market data and thematic demand drivers, AIM provides a clear view of the performance of any property type and market.
Archer works with several real estate investors to improve their in-house acquisition teams and close deals with suppliers. The firm plans to invest in commercial real estate with its clients, either through joint investments or through individual individual accounts. His long-term vision is to create investment portfolios targeting specific cities and property types, for example Salt Lake City industrial or San Antonio multi-family.
“I am thrilled to be joining the Archer team,” says Pratt. “The way the company collects data, as well as its automated underwriting and asset management tools, allows it to look at hundreds of opportunities every month without the help of dozens of analysts and partners. Now is the time to capitalize on technology in real estate. and commercial real estate data. It took a while, but commercial real estate is finally catching up with the rest of the financial sector and Archer is at the forefront. “
Pratt began his real estate career as an asset management analyst at Asset Capital Corp. In this position, he managed a portfolio of over 1 million square feet of commercial offices, medical offices and industrial assets in Washington, Virginia, as well as Maryland…
BUT New Orleans residents– dear, Pratt was present Tulane University where he received his Bachelor of Science in Political Science. After moving to the capital of the country, he earned his master’s degree in real estate finance in Georgetown University…
About the archer
Archer is a real estate investment firm that helps investors build ideal portfolios. By focusing on specific cities and properties, Archer is improving the way investors enter new markets and develop new types of real estate. The firm has developed a transformative technology tool, the Actionable Insights Model (AIM), which combines data from trusted sources and the views of local market experts. With AIM guidance, Archer identifies the most strategic assets, enabling investors to mitigate the risk of entering the market. Find out more at www.archer.re…