Damon Dunn, LB Mayoral Candidate & Developer - April 5th, 2013

Damon Dunn

Principal - Tricor Corporation

www.damondunn.com

The LBCREC is excited to have Damon Dunn, candidate for mayor of Long Beach, founded a real estate development firm that developed $160 million of total development nationwide. He will talk about how they started the company, what challenges they faced, how they grew the company, how the real estate market crash impacted their development model, and what opportunities are out there today.

Biography

tricor corporation                                                                                                                ca, az, nc, fl Co-Founder and Partner, Real Estate Development and Investment Firm.  Principal owner of company that sourced, developed, advised, and invested in 31 retail properties across U.S.   Negotiated purchase, lease, tenant buyout, easement covenant and restriction, quit claim, remediation, and other agreements dealing with acquisition and construction of retail development projects.  Developed feasibility studies working with civil / environmental / geotechnical engineers, general contractors, architects, and retail tenants.  Developed pro forma analysis to evaluate cost benefit and returns analysis. Managed entitlement process while working with planning and zoning commissions, city council, and departments of city planning, municipal permitting, municipal development, and transportation.  Managed construction and turn-over of projects.  Raised private equity and debt to finance projects; negotiated documents to support the financing, construction, and disposition of assets; key lending partners (Bank of America, Wells Fargo) Investment Philosophy & Objectives Opportunities with strong downside protection based on tenant strength and intrinsic asset value.  Equity value creation via projects completed under budget and market value from rental income realized Investments Realized: 153,000 sq ft and $60 mm AUM Eckerd Drug Stores: sourced, developed, and invested in six properties in NM from 2003-2006.  Sold to investment partner 18 months after project completion Walgreens: sourced, developed, and invested in five properties in FL from 2007-2010.  Sold to investment partner 18 months after project completion Current Investment Holdings: 84,000 sq ft and $30 mm AUM   CVS Pharmacy: developed and invested in Glendale, AZ property in 2004 Bank of America: ground lease carve out from development project in AZ in 2005 Zebulon Crossings: developed and invested in NC shopping center in 2006 Missions Village: developed and invested in Southern CA shopping center in 2009 Walgreens: developed and invested in two Northern CA stores; expected completion in 2011 Advisory: 170,000 sq ft and $50 mm capital CVS Pharmacy: advised and developed 8 stores in Southern CA area Savers: advised and developed thrift store anchored center in AZ Walmart: advised and developed build-around property for Walmart store in WV

Visiting hoover Fellow                                                                                       Palo alto, CA

BOARD OF DIRECTORS LONG BEACH EDUCATION FOUNDATION               LONG BEACH, CA

national football league                                                                                             fl, oh, ny, tx Professional Football Player Played for Jacksonville Jaguars, Cleveland Browns, New York Jets and Dallas Cowboys

Harvard Business School Executive Education                                       cambridge, ma NFL Business Management and Entrepreneurial program 2005

Stanford University                                                                                                           palo alto, ca Bachelor of Arts degree in Public Policy 4-Year Varsity Football and Track letterman, NCAA Academic Scholarship, All-PAC 10 Honors

Ordained Baptist minister

Comments

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