Summary
Overview
Work History
Education
Skills
Activities
Timeline
Generic

Mike Cullen

Orlando,Florida

Summary

Experienced and influential leader in commercial real estate investments and asset management, poised to leverage over 25 years of executive and managerial expertise in pursuit of a high-level executive role.

Overview

25
25
years of professional experience

Work History

Director and Head of Private Equity Investments

Demetree Global
01.2022 - 01.2024
  • Direct all ownership activities and manage the strategic positioning and capital allocation for the family office's $1.4B real estate portfolio, encompassing 700K sq ft of retail, 8K units of multifamily housing, 5 branded, upper-upscale hotels, 150K sq ft of self-storage, 10 single-family rentals, 600K sq ft of office space, and 5 independent, high-volume, theme attractions
  • Headed and led the development of a master planned community sprawled across 66.5 acres, comprising 236 single-family homes, 78 townhome lots, and 200K square feet of commercial space
  • Initiated, assessed, negotiated, and closed a $55M urban mixed-use acquisition, with an anticipated Year 1 cash-on-cash yield surpassing 10% and Internal Rate of Return (IRR) of 19%
  • Secured, evaluated, and closed $90M in debt refinancing across five different assets, resulting in $85K in cash-out proceeds
  • Head of Investor Relations serving as the primary contact for all partners, financial institutions, and sponsors
  • Supervise a team of five associates, overseeing three asset managers and two senior financial analysts.

Account Executive

Healogics
01.2020 - 01.2021
  • Established and developed a professional asset management department for a third-party healthcare operator with 30 hospitals across six healthcare systems.

Head of Real Estate Investments and Asset Management

Holiday Retirement
01.2020 - 01.2020
  • Joined the company to head and reposition a national portfolio of 270 independent senior-living communities with valuation exceeding $7.5B (NAV).

Vice President and Head of Asset Management

Procaccianti Companies
01.2015 - 01.2020
  • Spearheaded the establishment, development, and implementation of a professional asset management department for the private equity Commercial Real Estate (CRE) portfolio, with total asset value surpassing $2B in Net Asset Value (NAV)
  • Devised a strategic plan and model that facilitated the successful disposition of two non-core assets, generating $15 million in net proceeds
  • Headed the debt refinancing initiatives for a $300M CRE mixed-use portfolio
  • Repositioned three assets, with projected Internal Rate of Return (IRR) exceeding 27%, and a 5-year average cash on cash yield exceeding 25%
  • Recapitalized, underwrote, and completed due diligence efforts for two upper-upscale assets with total NAV exceeding $240M
  • Directed the construction and operating management team for the development and opening of a branded, urban, union hotel with a total value exceeding $280M and combined equity contribution of $70M
  • Provided direct leadership to a team of four associates and serving as the primary contact for all brands, financial institutions, investors, and sponsors.

Vice President Asset Management

DiamondRock Hospitality
01.2011 - 01.2013
  • Led all asset management responsibilities for $2.0B portfolio involving 15 full and select service assets encompassing 6.5K guest rooms, 426K sq ft of meeting space, total revenues of $480M, and EBITDA of $134M
  • Approved and managed $200M annual capital expense budget
  • Headed, underwrote and led the successful closing of a $500M acquisition with Blackstone Group, L.P
  • Established and led 20-person project development team for $40M ballroom expansion at the Chicago Marriott Magnificent Mile working directly with local government officials and Marriott C-level executives
  • Directed $50M renovation and brand conversion for 790-room upper-upscale, union hotel in mid-town Manhattan
  • Headed the successful disposition of three non-core assets, resulting in gross proceeds $27M, XIRR of 16%, and an Equity Multiple of 3.5x.

Vice President Asset Management

Inland American Lodging Advisor
01.2007 - 01.2011
  • Led asset management for $600M portfolio involving 40 full and select service assets with EBITDA of $200M
  • Led the feasibility, due diligence, and project management team for the successful development of a $20M Aloft branded hotel
  • Negotiated 30 new management contracts reducing total fees by 200 basis points.

Senior Director Asset Management

Ashford Hospitality Trust
01.2005 - 01.2007
  • Managed all ownership activities, overseeing strategic positioning and capital allocation for a portfolio of 30 upper-upscale hotels, comprising both branded and independent assets
  • The total annual revenue for this portfolio amounted to $450M, with an EBITDA of $150M.

Director of Financial Planning and Analysis

Loews Hotels
01.1999 - 01.2005
  • Opening executive operating team member for three upper-upscale resorts; totaling 4,200 rooms at Universal Orlando.

Education

Bachelor of Arts -

Hobart College
Geneva, New York

Master of Science -

University of Central Florida
Orlando, Florida

Skills

  • Operations
  • Financial Planning
  • Presentations
  • Strategy
  • Problem Solving
  • Debt Restructuring and Refinancing
  • Portfolio Management
  • Financial Modeling
  • Valuation Proficiency
  • Project Management
  • Strategic Planning
  • Verbal and written communication
  • People Management
  • Operations Management

Activities

Former NCAA collegiate athlete in both Lacrosse and Hockey

Timeline

Director and Head of Private Equity Investments

Demetree Global
01.2022 - 01.2024

Account Executive

Healogics
01.2020 - 01.2021

Head of Real Estate Investments and Asset Management

Holiday Retirement
01.2020 - 01.2020

Vice President and Head of Asset Management

Procaccianti Companies
01.2015 - 01.2020

Vice President Asset Management

DiamondRock Hospitality
01.2011 - 01.2013

Vice President Asset Management

Inland American Lodging Advisor
01.2007 - 01.2011

Senior Director Asset Management

Ashford Hospitality Trust
01.2005 - 01.2007

Director of Financial Planning and Analysis

Loews Hotels
01.1999 - 01.2005

Bachelor of Arts -

Hobart College

Master of Science -

University of Central Florida

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Mike Cullen