Realizing there are potential pitfalls in reading internet sites, we offer the following info on the guy who claims on a LINKEDIN page to be one of the driving forces behind the recent proposal for a downtown baseball stadium, six hotels, and was recruited to use $500 million in city real estate to achieve city goals. GUARDIAN readers did the research and provided the links.
It appears that Matt Brookshier is operating or has operated during his city employment the BROOKSHIER GROUP, like a wannabe Donald Trump (“Deals Start Here, It’s what deal makers do, Want to be a Deal maker…etc”). He is also an employee of Boise City where he is the “Strategic Real Estate Manager” at a salary close to $100,000 per year. According to his listing on ANGELLIST he has an impressive real estate career and educational background.
Here is his LINKEDIN info:
Company Name: The Brookshier Group (Real Estate Acquisitions & Development)
Dates Employed 2012 – Present Employment Duration 5 yrs Location Boise, Idaho Area
Creating value for commercial real estate investors through creative deal identification, underwriting, structuring, and partnership strategies. Operating throughout the western U.S.
• Led two-year effort to acquire Tamarack Ski and Golf Resort from multiple creditors. Created 10-year acquisition, repositioning and operational plan enabling client to secure $140 million in equity commitments. Dealt with complex legal, financial and operational situation, enabling client to focus on other major projects. Client was unable to secure all liens.
• Advised on potential acquisition of boutique hotel brand. Wrote tiered business plan for nationwide expansion. Provided underwriting on purchase of two existing hotels, developed brand strategy, structured equity requirements, and projected cash flows (cost, capital budget, financing options, multiple revenue streams, and P&L). Plan exceeded client’s ROI hurdles.
• Developed strategic plan for a $90 million downtown convention center and 250-room hotel. Engaged auditorium district to contribute district-owned land and tax increment funds. Project exceeded ROI hurdles but client was unable to secure equity. Another developer is currently executing with a similar deal structure.
• Advised broker client on several winery and wine-related business projects, developing business plans and investment packages to support sale of 3 different wineries.
• Led market study & entitlement process for a multifamily development client, resulting in approval for 3-phase, 600-unit multifamily project.
Strategic Real Estate Manager
Company Name: City of Boise (Head, Real Estate Department)
Dates Employed: 2014 – PresentEmployment Duration 3 yrsLocationBoise, Idaho Area
(Third largest city in Pacific Northwest. Third fastest growing metro area west of the Rockies. Top 10 ranked city nationally by Wall Street Journal and Forbes for business and quality of life.)
Recruited to build real estate department for $500 million portfolio and develop strategies for using real estate to achieve City goals. Partnering with private development, improving operations and adding value to the taxpayer by bringing business operations and private investment approach to real estate portfolio for the third largest city in Pacific Northwest. Dual reporting to Mayor and Director of Planning & Development.
• Revived languished downtown stadium plan. Worked with minor league baseball team to structure a public-private partnership that includes three public agencies and two private partners for a $190+ million mixed-use project including a multi-use stadium, a hotel, residential units, and various retail/entertainment amenities.
• Enticed 6 new hotels to start projects in downtown Boise by engaging three government agencies to overcome barriers and identifying $20+ million in public support. One is under construction, three have received project entitlements, and two are in planning.
• Completed ten acquisitions totaling $4+ million. Sourced properties, negotiated transactions, conducted due diligence, and closed purchases. Built 13-department matrix organization to improve decision making and reduce costs and risk.
We make no judgements, but having a real estate guy who does deals working for the city making deals seems like a questionable arrangement at best.
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