National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Next Generation Honoree: Post Brothers’ Klinvex Sees Value That Others Miss
Over the past five years, every project that Post Brothers has acquired bears the fingerprints of the company’s director of acquisitions, Zak Klinvex. Colleagues say he has developed an uncanny ability to discern value in real estate overlooked by others, and is continuing to develop an intuitive understanding of opportunistic real estate investing.
That’s just one of the reasons we chose Klinvex to be one of the National 2018 Next Generation Award winners. Connect Media’s second annual Next Generation Awards recognize young leaders in the commercial real estate industry who are likely to be influential for years to come.
Klinvex’s potential was evident early in his real estate career, and over the past couple of years it has bloomed as he has gotten to the closing table on $133 million in construction financing for The Atlantic, a historic building in Philadelphia’s Center City neighborhood. Post Brothers engaged architect Rafael Viñoly to reimagine the property and turn the high-rise into a mixed-use retail/residential space that could achieve rents 15% above the existing top-of-market ceiling.
After several appraisal rebuttals, Klinvex eventually got the necessary buy-in on rents and value the project needed to succeed. He worked diligently to manage two lenders through the complexities of a construction loan closing, at a time when lenders had begun pulling back and had concerns about multifamily supply across the entire city.
For comments, questions or concerns, please contact Paul Bubny
