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Archer Taps Miles Pratt to Lead Real Estate Acquisitions Efforts


SAN FRANCISCO, July 1, 2021 /PRNewswire/ -- Archer, a data-driven real estate investment firm, has hired Miles Pratt as Managing Director ? Real Estate Acquisitions. In this role, Pratt is responsible for identifying and pursuing investment opportunities across the United States on behalf of Archer and its clients. He is also responsible for building and maintaining relationships with private and institutional investors.

"Miles brings a unique combination of real estate industry experience, off-market deal making expertise, and a willingness to challenge the status quo by leveraging unique approaches to data and technology," says Thomas Foley, Archer co-founder and CEO. "We're thrilled for the opportunities that Miles will help unlock as we work with our clients and investors to source and execute on targeted real estate acquisitions."

Pratt represents Archer's first acquisitions-related hire. He boasts 16 years of experience in the commercial real estate industry. During that time, he's been involved in deals worth more than $1 billion across multiple property types including multifamily, retail, office, and mixed-use.

Prior to joining Archer, Pratt served as principal of Glade Street Capital, an investment firm focused on unique off-market and mid-market opportunities in the Washington D.C. region. In that executive position, he concentrated on multifamily and land development, as well as value-add and repositioning opportunities.

Pratt also spent more than nine years with Arlington, Va.-based McCaffery Interests. During his tenure at the private development and investment firm, he held four different roles including vice president of finance and acquisitions. He was responsible for executing acquisition and development strategies across multiple property types.

Pratt's most notable deal was 1600 Smallman St. and Produce Terminal in Pittsburgh's Strip District, a joint venture between McCaffrey Interests and BentallGreekOak. The project involved more than $100 million in capital. McCaffery Interests was awarded developer of the year in 2019 and both projects were ranked in the top 10 developments in Pittsburgh in 2020. 

"At Archer, we believe real estate data and technology is best leveraged when it is combined with the experience and intuition of local operators and industry veterans," says Fred Canney, Archer co-founder and CFO/COO. "Adding Miles to our team demonstrates our commitment to this approach."

Archer's proprietary technology platform, Actionable Insights Model (AIM), helps investors source opportunities by converting raw, disjointed data into actionable market intelligence with a click of a button ? something that typically requires an army of analysts and takes multiple weeks, if not months.

Utilizing behavioral ownership triggers, AIM creates a "seller propensity" score, allowing acquisitions teams to focus on the deals most likely to transact, e.g. the most actionable deals. The platform also provides customized recommendations based on clients' preferred locations, previous investments, and areas of interest. By layering proprietary cash-flow forecasting models with market-specific data and thematic demand drivers, AIM delivers a clear view into the performance of any property type and market. 

Archer is working with several real estate investors to enhance their in-house acquisition teams and source deals. The firm plans to invest in commercial real estate alongside its clients, either through co-investments or customized separate accounts. Its longer-term vision is to build investment portfolios that target specific cities and property types, e.g. Salt Lake City industrial or San Antonio multifamily. 

"I'm thrilled to be joining the Archer team," Pratt says. "The way the company has aggregated data, along with its automated underwriting and asset management tools, allows it to look at hundreds of opportunities each month without having to rely on dozens of analysts and associates. Now is the time to capitalize on real estate tech and data in commercial real estate. It took a little while, but commercial real estate is finally catching up to the rest of the financial sector, and Archer is at the forefront."

Pratt began his real estate career as an asset management analyst with Asset Capital Corp. In that role, he managed a portfolio of more than 1 million square feet of commercial office, medical office, and industrial assets in Washington D.C., Virginia, and Maryland.

A New Orleans-native, Pratt attended Tulane University where he obtained a Bachelor of Arts in political science. After moving to the nation's capital, he obtained a Master's degree in real estate finance from Georgetown University.

About Archer

Archer is a real estate investment firm that helps investors build their ideal portfolios. By targeting specific cities and properties, Archer is refining the way investors enter new markets and expand into new property types. The firm has developed a transformative technology tool, Actionable Insights Model (AIM), that merges data from trusted sources and insights from local market experts. Guided by AIM, Archer identifies the most strategic assets, allowing investors to reduce the risk associated with market entry. Learn more at www.archer.re.

Contact:
Jennifer Duell
8179032432
313452@email4pr.com

SOURCE Archer


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News published on 1 july 2021 at 08:34 and distributed by: