Watt Realty Group

South Beach | Resort-style Apartments | Las Vegas, NV

About Watt Realty Group

Watt Realty Group, Inc. is a wholly-owned subsidiary of Watt Companies. This division was formed in 2018 to expand Watt’s investments in multifamily properties in the Western United States. This division employs two primary strategies building on the 70 years’ of experience and success that Watt Companies has achieved. The first strategy is to acquire value-add and core-plus apartment properties and execute on successful renovation plans. The second strategy is to develop ground up apartment properties. We are focused on market rate projects and are also gaining an expertise in Opportunity Zone developments. WMF is focused on delivering attractive risk-adjusted returns to Watt and their investors under both strategies.

Watt Realty Group performs the role of GP or Co-GP for these investments and secures limited partners for each investment from their expansive relationships with both institutional and private partners, such as family offices and high-net-worth individuals.

 

 

People

  • David Schlecter, Senior Financial Analyst, Watt Multifamily

    David Shlecter

    Senior Financial Analyst

    https://www.linkedin.com/in/david-shlecter-73b0b334/

    David Shlecter joined the Capital Markets team in early 2016. As a Senior Analyst, he provides crucial underwriting and analysis to upper management. The Capital Market team supports all divisions at Watt in securing financing for a multitude of real estate projects. David has underwritten tens of thousands of multifamily units. His expertise ranges from value-add to ground-up development.

    His integral role at Watt begins by sourcing potential deals, comprehensive underwriting, and sourcing financing options. By utilizing the resources borne by the Watt name, he is able to facilitate fortuitous ventures. Most recently, he refinanced the construction loan and preferred equity on a 220 unit multifamily development with a low-interest rate bridge loan. By facilitating effective communication between owners, property management and debt sources, the team was able to execute a timely recapitalization. Recently, David underwrote and worked on sourcing the construction loan and preferred equity totaling $60MM for a 304-unit luxury ground-up apartment project in the Southern Highlands area of Las Vegas.

    David graduated with a Masters of Accounting from the Ross School of Business in 2012. As a CPA, he practiced in taxation, with heavy casework in family offices with significant holdings in real estate. The transition from accounting to finance honed his analytical skills in valuation, planning, and execution of real estate financing.

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