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A full-service real estate investment and development firm based in Atlanta, Georgia

Logo landscape White

A full-service real estate investment and development firm based in Atlanta, Georgia

We are guided by three investment principles:

Focus:

We are focused on newly constructed Class A multifamily communities located in the suburban Sunbelt where strong market fundamentals combine with our extensive first-hand experience

Discipline:

We are disciplined in our investment approach, always adhering to stringent underwriting and a comprehensive, institutionally based due diligence process

Outperformance:

We aim to outperform the market on a risk adjusted basis through a combination of data driven analyses and local market knowledge

Since 2012, Prosper’s Principals have been involved in multifamily investments totaling:

$ 0 + Billion

Total Capitalization

0

Properties

0 +

Units

Competitive Strengths

We distinguish ourselves from our competition through:

Experience

Significant management team expertise underwriting, acquiring and building a best-in-class multifamily portfolio, making real estate mezzanine debt and preferred equity investments and executing ground-up development

Relationships

Ability to source opportunities and generate significant information about current and future market conditions from our deep relationships with regional developers, property managers, debt and equity partners and brokers

Pipeline

Unique access to a pipeline of both off-market and marketed investment opportunities through our preferred equity and mezzanine loan platform as well as developer and broker relationships

Asset Management

Demonstrated and committed asset management capabilities with an emphasis on maximizing the value of our properties through a data-driven, hands-on approach

Jeff Sherman

Principal

Jeff Sherman

Principal

During Mr. Sherman’s 19-year tenure in multifamily real estate, he has overseen the acquisition, development and mezzanine/preferred equity investment of more than $6 billion of multifamily projects in excess of 30,000 units across Sunbelt cities. Most recently, Mr. Sherman served as President of Multifamily for Preferred Apartment Communities (PAC), a publicly traded REIT, where he was also a Named Executive Officer and a member of Investment Committee. At PAC, Mr. Sherman led a 40+ person team across a vertically integrated platform including investments, asset management and property management. In 2022, PAC was purchased by Blackstone, resulting in a total return in excess of 400%, including dividend reinvestment, to shareholders since its IPO in 2011. Mr. Sherman studied finance and management information systems at the University of Georgia and also holds a Master’s degree in real estate from Georgia State University.

Stuart Coleman

Principal

Stuart Coleman

Principal

Mr. Coleman has been in the multifamily industry since 2014. Previously, he served as Vice President - Acquisitions for Preferred Apartment Communities where he was responsible for the strategic growth of the multifamily portfolio, with oversight of the acquisition and disposition of Class A multifamily properties. During his 9-year tenure at PAC, Mr. Coleman helped scale the portfolio from 6 properties to over 50, resulting in excess of $3 billion of acquisitions, representing approximately 12,500 units of multifamily and 6,100 beds of student housing. Additionally, Mr. Coleman was instrumental in the acquisition of approximately 1 million square feet of grocery anchored retail. Mr. Coleman received his B.S. in Real Estate and Management from The University of South Carolina in Columbia, SC.

Meet Our
Senior Leadership

Meet Our
Senior Leadership

Stuart Coleman

Principal

Stuart Coleman

Principal

Mr. Coleman has been in the multifamily industry since 2014. Previously, he served as Vice President - Acquisitions for Preferred Apartment Communities where he was responsible for the strategic growth of the multifamily portfolio, with oversight of the acquisition and disposition of Class A multifamily properties. During his 9-year tenure at PAC, Mr. Coleman helped scale the portfolio from 6 properties to over 50, resulting in excess of $3 billion of acquisitions, representing approximately 12,500 units of multifamily and 6,100 beds of student housing. Additionally, Mr. Coleman was instrumental in the acquisition of approximately 1 million square feet of grocery anchored retail. Mr. Coleman received his B.S. in Real Estate and Management from The University of South Carolina in Columbia, SC.

Jeff Sherman

Principal

Jeff Sherman

Principal

During Mr. Sherman’s 19-year tenure in multifamily real estate, he has overseen the acquisition, development and mezzanine/preferred equity investment of more than $6 billion of multifamily projects in excess of 30,000 units across Sunbelt cities. Most recently, Mr. Sherman served as President of Multifamily for Preferred Apartment Communities (PAC), a publicly traded REIT, where he was also a Named Executive Officer and a member of Investment Committee. At PAC, Mr. Sherman led a 40+ person team across a vertically integrated platform including investments, asset management and property management. In 2022, PAC was purchased by Blackstone, resulting in a total return in excess of 400%, including dividend reinvestment, to shareholders since its IPO in 2011. Mr. Sherman studied finance and management information systems at the University of Georgia and also holds a Master’s degree in real estate from Georgia State University.

Meet Our
Senior Leadership

Meet Our
Senior Leadership

Tim Peterson

Advisor

Tim Peterson

Advisor

Mr. Peterson is Chief Investment Officer of the Altman Companies, a best-in-class multifamily developer, general contractor and property manager. Mr. Peterson has over 30 years of real estate experience and over 25 years of multifamily experience. Previously he was EVP and CFO of a REIT that developed, acquired, managed and leased industrial and office properties in the eastern U.S. Prior to that, he was the EVP of Post Properties where he had overall responsibility in the financial area including the company’s IPO. Mr. Peterson is a member of the Executive Committee of the University of Florida Real Estate Advisory Board and of the ULI South Florida Chapter Advisory Board. Previously, Mr. Peterson served on the Board of Directors and chaired the Audit Committee for Preferred Apartment Communities. Mr. Peterson received both his undergraduate degree in accounting and MBA from the University of Florida.  

Mike Kelly

Advisor

Mike Kelly

Advisor

Mr. Kelly is the Founder and President of Tralee Affordable Housing, one of the nation’s premier LIHTC multifamily investment firms. Over his career, Mr. Kelly has been involved in over $6 billion in commercial real estate transactions and in excess of $4 billion multifamily deals covering 52,000 units. Prior to forming Tralee Affordable, he worked as a Managing Director and Chief Acquisitions officer for Dividend Capital Total Realty Trust. He previously worked at UDR (NYSE: UDR) as Senior Vice President responsible for the acquisition and disposition group. Mr. Kelly was a Founding Partner and original shareholder of Apartment Realty Advisors (1993). Mr. Kelly graduated from Notre Dame with a B.A. in Business Administration and earned his CPA designation while working for KPMG in Atlanta.

Meet Our
Advisory Board

Meet Our
Advisory Board

Mike Kelly

Advisor

Mike Kelly

Advisor

Mr. Kelly is the Founder and President of Tralee Affordable Housing, one of the nation’s premier LIHTC multifamily investment firms. Over his career, Mr. Kelly has been involved in over $6 billion in commercial real estate transactions and in excess of $4 billion multifamily deals covering 52,000 units. Prior to forming Tralee Affordable, he worked as a Managing Director and Chief Acquisitions officer for Dividend Capital Total Realty Trust. He previously worked at UDR (NYSE: UDR) as Senior Vice President responsible for the acquisition and disposition group. Mr. Kelly was a Founding Partner and original shareholder of Apartment Realty Advisors (1993). Mr. Kelly graduated from Notre Dame with a B.A. in Business Administration and earned his CPA designation while working for KPMG in Atlanta.

Tim Peterson

Advisor

Tim Peterson

Advisor

Mr. Peterson is Chief Investment Officer of the Altman Companies, a best-in-class multifamily developer, general contractor and property manager. Mr. Peterson has over 30 years of real estate experience and over 25 years of multifamily experience. Previously he was EVP and CFO of a REIT that developed, acquired, managed and leased industrial and office properties in the eastern U.S. Prior to that, he was the EVP of Post Properties where he had overall responsibility in the financial area including the company’s IPO. Mr. Peterson is a member of the Executive Committee of the University of Florida Real Estate Advisory Board and of the ULI South Florida Chapter Advisory Board. Previously, Mr. Peterson served on the Board of Directors and chaired the Audit Committee for Preferred Apartment Communities. Mr. Peterson received both his undergraduate degree in accounting and MBA from the University of Florida.  

Meet Our
Advisory Board

Meet Our
Advisory Board

Investment Vehicles

Acquisitions

Product

Newer constructed communities with no functional obsolescence or significant capital requirements
  • Garden, mid-rise and townhome
  • 200+ units to ensure institutional exit opportunities
  • Highly amenitized contemporary living

Markets

Suburban sunbelt markets demonstrating positive net migration trends where sustained demand or limited supply is likely to continue throughout the investment’s hold period

Preferred Equity Investments

Product

  • Garden, mid-rise and townhome
  • 200+ units
  • $50M – $100M project costs

Preferred Equity Terms

  • 80% – 90% leverage (atop a construction
    loan of 55% to 65% leverage)
  • Current Pay of 6% – 8%
  • Total Interest of 13% – 15%
  •  3 – 5 year hold
  • ROFO and/or purchase option

Development

Product

  • Garden, mid-rise and townhome
  • 200+ units
  • $50M – $100M project costs

Capital Structure

  • 55% – 65% non-recourse construction loan
  • 85% preferred equity
  • 15% LP/GP equity

Get in Touch:

Get in Touch: