Who We Are

About Waterton

Waterton is a real estate investment and property management company with a focus on U.S. multifamily, senior living and hospitality properties.

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Our Mission

Provide great places to live
Provide great places to work
Provide great results to our investors

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Our Vision

To be the premier property and investment manager of residential real estate

Waterton has expertise in selecting and managing attractive risk adjusted real estate investments located in major markets around the United States. Waterton is privately held by its co-founders and is headquartered in Chicago with regional offices throughout the United States. As of September 30, 2020, Waterton’s portfolio includes approximately $6.0 billion in real estate assets.

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Careers

Empowering Associates

We empower our associates to think and act like owners and to use our core values to serve our customers in a way that exceeds their expectations, going above and beyond to create the ultimate service experience or what we call Resitality®!

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We are committed to creating a positive company culture that allows our associates to use these values, learn new skills and acquire the knowledge they need to grow in their careers and achieve their professional goals.

Values

The Waterton Way: Our Cultural Cornerstone

Be Nice
We treat each other with kindness and respect. We trust our colleagues and appreciate their expertise and hard work. We teach and develop to empower others to achieve their goals.
Listen and Talk
We communicate and collaborate honestly and regularly. We talk through issues seeking first to understand the perspectives of others. We ask questions when we are unsure. We are present when we are with others. We resolve conflict face-to-face.
Own It
We hold ourselves accountable with the highest integrity. We solve problems and provide our unique brand of great service: Resitality® We speak our minds, voice our opinions and support final decisions.
Get It Done
We focus on great results that reflect the priorities of the company. We work together, think creatively and overcome obstacles. We work diligently to make smart decisions and meet or beat deadlines.
Have Fun
We come to work with a positive attitude. We recognize other people’s accomplishments, celebrate our own successes and encourage collaboration. We take the time to get to know our colleagues. We take our vacation days and seek personal balance. We are proud to give back to our communities.
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Resitality®

Res • i • tal • i • ty – noun re-zə-ta-lə-tē

Bringing the best of a hotel experience to our apartment communities, providing a higher level of hospitality and service to our residents.

We want our associates to love where they work. We want our associates to feel heard, valued and empowered to own their career growth and personal achievements. We want our residents to love where they live. As the owner and manager of our properties, we’re committed to doing what’s best for our residents – making their satisfaction our greatest success.

We call that Resitality®.

Waterton's Service Approach Sets Us Apart

It means we look for ways to surprise and delight. We treat you with warmth and kindness. We listen well and communicate clearly and proactively. We respond to requests and concerns promptly. We are true to our word. And we strive to leave every person—and every place—better than we found them. It’s an important job, and we enjoy doing it the Waterton Way.

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Performance

Awards & Recognition

2020

IREJ Executive of the Year – David Schwartz

2020

Preqin Most Consistent Top Performing Private Real Estate Fund Managers List

2019

Crain’s Best Places to Work List

2019

Satisfacts National Resident Satisfaction Company Award Winner

2019

Satisfacts National Award (56% of Waterton communities received “Superior-Status” recognition)

2019

ApartmentRatings  Top Rated Community Award (57% of the Waterton communities received this award)

The camaraderie and real estate investment expertise of Waterton’s principals sets the tone for our group of collaborative, experienced professionals. Each member of the senior team, on average, has more than 20 years of real estate investment and management experience.

David Schwartz - Waterton Team
CEO, Chairman & Co-Founder

David Schwartz

Mr. Schwartz co-founded Waterton with Peter Vilim in 1995 and serves as CEO and Chairman.

Mr. Schwartz co-founded Waterton with Peter Vilim in 1995 and serves as CEO and Chairman. Mr. Schwartz is responsible for strategic decisions and leadership of the firm’s business activities and operations, and participates on the Management and Investment Committees.

Prior to co-founding Waterton in 1995, Mr. Schwartz was a vice president of acquisitions for Equity Residential Properties Trust (EQR-NYSE) and from 1985 through 1989 was with AMLI Realty Co.

Mr. Schwartz holds a bachelor’s degree in economics from the University of Illinois and an MBA from the University of Chicago, Booth School of Business. He is a member of the executive committee, a senior officer and chairman of the National Multi Housing Council (NMHC). He is a member of the Urban Land Institute (ULI) and is previous chairman of the ULI Multifamily Blue Council and a member of the Pension Real Estate Association (PREA). Mr. Schwartz is a member of the Advisory Council for the Pritzker School of Medicine and the Department of Biological Sciences at the University of Chicago, and serves on the Strategic Advancement Committee for the US Holocaust Museum and Memorial in Washington D.C.

Peter Vilim Waterton Bio image
Vice Chairman & Co-Founder

Peter Vilim

Mr. Vilim co-founded Waterton with David Schwartz in 1995 and serves as vice chairman.

Mr. Vilim co-founded Waterton with David Schwartz in 1995 and serves as vice chairman. Mr. Vilim assumed the role of vice chairman in January 2017 to spend increasing time with philanthropic and civic organizations focused on ending homelessness and providing affordable housing. Mr. Vilim continues to office from the firm’s Chicago headquarters and participates on the Management, Investment and Valuation Committees.

Prior to co-founding Waterton in 1995, Mr. Vilim was an investment officer with Berkshire Realty Company, Inc., responsible for Midwest acquisitions, dispositions and financings. Prior to joining Berkshire, he was the investment officer for AMLI Realty Co. Mr. Vilim started his career as a certified public accountant, working in the national real estate tax practice departments of both Coopers & Lybrand and Peat Marwick Mitchell.

Mr. Vilim holds a bachelor’s degree in accountancy from the University of Illinois and a master’s degree in taxation from DePaul University. Mr. Vilim serves on the Board of Directors, and is Chairman of the Finance Committee for the Housing Partnership Equity Trust (“HPET”), a social purpose real estate investment trust created by nonprofits to raise capital for affordable housing. He is the on the Board of Directors of All Chicago – Making Homelessness History, the Collaborative Applicant for HUD funding of homeless services in Chicago

Erin Ankin Waterton bio image
General Counsel

Erin Ankin

Ms. Ankin joined Waterton in 2009 and serves as general counsel.

Ms. Ankin joined Waterton in 2009 and serves as general counsel. In this role, she is responsible for fund and corporate structuring, transaction negotiations, litigation and claims as well as the firm’s talent management and general human resource functions. Ms. Ankin also oversees corporate compliance under local, state, federal and other jurisdictional laws, including the firm’s status as a Registered Investment Adviser. Ms. Ankin participates on the firm’s Management and Investment Committees.

During her tenure with the firm, Ms. Ankin has been involved in transactions exceeding $9.3 billion in aggregate value. Ms. Ankin also manages licensing at the corporate and site levels and oversees Waterton’s insurance program and previously served as co-chair of the firm’s culture committee. Prior to joining Waterton, Ms. Ankin was a real estate and finance associate at a Chicago-based law firm.

Ms. Ankin holds Bachelor of Arts degrees in english and political science from the University of Michigan – Ann Arbor, and earned her Juris Doctor from Chicago-Kent College of Law. She is a member of the National Multifamily Housing Council and the Chicago Bar Association.

Lela Cirjakovic Waterton bio image
Executive Vice President, Operations

Lela Cirjakovic

Ms. Cirjakovic joined Waterton in 2006 and serves as executive vice president of operations.

Ms. Cirjakovic joined Waterton in 2006 and serves as executive vice president of operations. In this role, Ms. Cirjakovic has direct oversight of the firm’s portfolio of multifamily properties located throughout the United States. Ms. Cirjakovic is responsible for the strategic direction of the property management platform, enhancing the portfolio’s financial performance and the resident experience. She also oversees the firm’s information technology and training and development functions. Ms. Cirjakovic participates on the firm’s Management and Investment Committees.

Prior to joining Waterton, Ms. Cirjakovic spent 12 years at CAMCO, Inc., a Chicago multifamily property management company where she served as member of the Senior Executive Committee and as regional property manager overseeing the company’s Midwest operations. Previously, Ms. Cirjakovic was a regional property manager for Midland Property Management and began her career at the Illinois Housing Development Authority where she was an asset manager for a 20-property portfolio.

Ms. Cirjakovic holds a bachelor’s degree in finance from Loyola University in Chicago. She is a member of The Chicagoland Chamber of Commerce and the Chicagoland Apartment Association, The National Apartment Association, National Multifamily Housing Council and is on the Local Leadership Board for the American Lung Association.

Jerome Finis - Pathway To Living Team
Chief Executive Officer, Pathway to Living

Jerome Finis

Mr. Finis co-founded Pathway to Living in 2000 and serves as chief executive officer. In this role, he is responsible …

Mr. Finis co-founded Pathway to Living in 2000 and serves as chief executive officer. In this role, he is responsible for guiding the growth and investment strategies of the senior loving platform. Following the firm’s increased ownership in Pathway to Living effective 2019, Mr. Finis is working with the firm’s executive team to establish best practices and enhance integration and synergies where they naturally exist. He participates on the firm’s Management and Investment committees.

Mr. Finis is the past president and a board member of, the Affordable Assisted Living Coalition, and sits on the executive board of the American Seniors Housing Association and Government Affairs Roundtable of Argentum.

Mr. Finis holds a bachelor’s degree in business administration from University of Illinois and an MBA from Northwestern University’s Kellogg Graduate School of Management with majors in both real estate and finance.

Rick Hurd Waterton bio image
Chief Investment Officer

Rick Hurd

Mr. Hurd joined Waterton in 2013 and serves as chief investment officer. Mr. Hurd collaborates with the …

Mr. Hurd joined Waterton in 2013 and serves as chief investment officer. Mr. Hurd collaborates with the firm’s executive management and works closely with the acquisition and capital market teams to oversee all real estate transactions. He helps to set strategy and further develop the firm’s market focus, investment execution and network of industry relationships. Mr. Hurd participates on the firm’s Management, Investment and Valuation Committees.

Mr. Hurd has almost 35 years of real estate investing experience with a strong focus on multifamily. Prior to joining Waterton, Mr. Hurd was the co-founder, president and chief investment officer of Strategic Capital Partners (“SCP”), a privately held real estate investment management company that invested over $1 billion in value add multifamily, hotel and commercial properties across the country. Prior to that, Mr. Hurd spent almost 20 years at GE Capital Real Estate, where he was most recently a managing director responsible for GE’s institutional real estate equity program. While at GE Capital, Mr. Hurd invested just under $2 billion in various equity joint ventures, preferred equity, mezzanine debt and convertible preferred equity strategies.

Mr. Hurd holds a bachelor’s degree from Ohio Wesleyan University and an MBA from Drexel University. He is a board member of The Catalyst Schools, a Chicago based chartered school organization. Mr. Hurd is also vice chairman of the Tax Committee for National Multi Housing Council and a member of the Urban Land Institute (ULI) Multifamily Silver Council. He is also on the Board of Advisors for the Wisconsin School of Business – James A. Graaskamp Center for Real Estate.

Philip Lukowski Waterton bio image
Executive Vice President, Chief Portfolio Manager

Philip J. Lukowski

Mr. Lukowski joined Waterton in 2006 and serves as executive vice president, chief portfolio manager.

Mr. Lukowski joined Waterton in 2006 and serves as executive vice president, chief portfolio manager. In this role, Mr. Lukowski is responsible for the oversight of the portfolio management team for the firm’s multifamily portfolio and collaborating with investors on its investments. He oversees the execution of fund and asset level business plans and hold sell strategies, valuations and appraisals, compliance with fund and investor agreements, real estate tax administration and commercial leasing. Mr. Lukowski participates on the firm’s Management, Investment and Valuation Committees.

Prior to joining Waterton, Mr. Lukowski spent almost 20 years at Heitman LLC, most recently as senior vice president, portfolio management. In this role, he acted as senior portfolio manager for public and corporate pension fund clients and was responsible for the selection and oversight of third party management firms, monitoring of property operations and leasing, and coordinating investor accounting, performance and valuations. Mr. Lukowski was also employed by the accounting firm of Pannell Kerr Forster in the real estate appraisal department while attending DePaul University.

Mr. Lukowski holds a bachelor’s degree in finance and an MBA from DePaul University. He served as Chairperson of the Performance Measurement Committee of National Council of Real Estate Investment Fiduciaries (NCREIF) from 1995 – 1996 and has been a member since 1989. He previously served as a member of the International Council of Shopping Centers and is currently an active member of the Pension Real Estate Association (PREA) and National Association of Real Estate Investment Managers (NAREIM). Mr. Lukowski is an Executive Committee sponsor member of DePaul’s Driehaus College of Business, The Real Estate Center and a board member of the One for the Kids charity organization.

Tara Marszewski Waterton bio image
Chief Financial Officer

Tara Marszewski

Ms. Marszewski joined Waterton in 2019 and serves as chief financial officer. In this role, she is responsible for …

Ms. Marszewski joined Waterton in 2019 and serves as chief financial officer. In this role, she is responsible for the direct oversite of finance, corporate, residential and hospitality accounting, as well as the firm’s tax, treasury, and benefits and compensations functions. Ms. Marszewski participates on the firm’s Management, Investment and Valuation Committees.

Prior to joining Waterton, Ms. Marszewski was CFO of Brookfield Properties retail group where she oversaw all aspects of the accounting and finance functions including property and operational accounting, SEC reporting and compliance, corporate finance, financial planning and analysis, and taxation. She was previously chief accounting officer of General Growth Properties, Inc. (GGP), which later merged with Brookfield, and prior to that spent 10 years as a senior manager in the real estate audit practice at KPMG, focused on both public and private REITs as well as equity funds.

Ms. Marszewski holds a Bachelor of Science in accountancy from the University of Illinois and is a Certified Public Accountant. Ms. Marszewski is a member of the AIPCA and a former member of NAREITs Best Financial Practices Council and co-chair of its Accounting Committee.

Matt Mering Waterton bio image
Executive Vice President, Hospitality

Matt Mering

Mr. Mering joined Waterton in 2019 and serves as executive vice president, hospitality.

Mr. Mering joined Waterton in 2019 and serves as executive vice president, hospitality. In this role, he is responsible for the formulation and execution of the firm’s hotel investment strategy, oversight of asset management and further developing investor relationships. Mr. Mering participates on the firm’s Management Committee.

Prior to joining Waterton, Mr. Mering spent six years with Graves Hospitality as director of development, where he was responsible for identifying new hospitality development and acquisition opportunities, and oversight of the company’s food and beverage operations. Prior to Graves Hospitality, Mr. Mering was a Principal at Salita Development, where he served as director of development.

Mr. Mering holds a bachelor’s degree in international relations from Michigan State University, and an MBA from the University of Chicago.

Maria Oliva Waterton bio image
Chief Operating Officer, Pathway to Living

Maria Oliva

Ms. Oliva joined Pathway to Living in 2005 and serves as chief operating officer. In this role, Ms. Oliva is …

Ms. Oliva joined Pathway to Living in 2005 and serves as chief operating officer. In this role, Ms. Oliva is responsible for the strategic direction of the management platform, fiscal management, leadership and culture development. She is the architect and champion of Pathway’s VIVA! operating philosophy that takes a new approach to resident wellness and person-centered care. Waterton became a partial owner of Pathway to Living in 2015 and acquired a controlling interest in 2019. Ms. Oliva participates on Waterton’s Management Committee.

Following the firm’s increased ownership in Pathway to Living effective 2019, Ms. Oliva and the senior housing operations team are working closely with the firm’s multifamily operation teams to share ideas and develop best practices across the operating platforms.

Prior to joining Pathway to Living, Ms. Oliva spent over 11 years at Senior Lifestyle Corporation in the role of senior vice president of human resources. There she was responsible for implementing policies, programs and company-wide strategies to support the company’s growth from three properties to a nationwide owner and operator, with sixty communities in fifteen states and over 5,000 employees.

Ms. Oliva holds a Bachelor of Science degree in management from National Lewis University. She sits on the Operations Executive Roundtable for Argentum, and is a past board member of Leading Age Illinois.
Prior to joining Waterton, Mr. Lukowski spent almost 20 years at Heitman LLC, most recently as senior vice president, portfolio management. In this role, he acted as senior portfolio manager for public and corporate pension fund clients and was responsible for the selection and oversight of third party management firms, monitoring of property operations and leasing, and coordinating investor accounting, performance and valuations. Mr. Lukowski was also employed by the accounting firm of Pannell Kerr Forster in the real estate appraisal department while attending DePaul University.

Mr. Lukowski holds a bachelor’s degree in finance and an MBA from DePaul University. He served as Chairperson of the Performance Measurement Committee of National Council of Real Estate Investment Fiduciaries (NCREIF) from 1995 – 1996 and has been a member since 1989. He previously served as a member of the International Council of Shopping Centers and is currently an active member of the Pension Real Estate Association (PREA) and National Association of Real Estate Investment Managers (NAREIM). Mr. Lukowski is an Executive Committee sponsor member of DePaul’s Driehaus College of Business, The Real Estate Center and a board member of the One for the Kids charity organization.

Michelle Wells Waterton bio image
Executive Vice President, Investor Relations

Michelle C. Wells

Ms. Wells joined Waterton in 2013 and serves as executive vice president of investor relations.

Ms. Wells joined Waterton in 2013 and serves as executive vice president of investor relations. In this role, Ms. Wells is responsible for fund strategy development and capital raising and oversees ongoing investor and consultant relations, marketing and internal and external communications. Ms. Wells participates on the firm’s Investment Committee and is the chair of its Management and Culture Committees.

Ms. Wells has been involved in real estate investment management since 2000. Prior to joining Waterton in 2013, Ms. Wells was a director with RREEF Real Estate where she was responsible for West Coast client and consultant relations. Previously, Ms. Wells led the investor communication teams at The Praedium Group and AIG Global Real Estate and began her career in real estate-focused investor communications with AMB Property Corporation where she ultimately ran the investor relations efforts.

Ms. Wells holds a bachelor’s degree in English literature from the University of California, San Diego and a master’s degree in education from the University of California, Santa Barbara. Ms. Wells previously held Series 7 and 63 designations from FINRA, is a board member of Women in Real Estate’s Chicago chapter and is a member of Pension Real Estate Association (PREA).

Rick Hurd Waterton bio image
Chief Investment Officer

Rick Hurd

Mr. Hurd joined Waterton in 2013 and serves as chief investment officer. Mr. Hurd collaborates with the …

Mr. Hurd joined Waterton in 2013 and serves as chief investment officer. Mr. Hurd collaborates with the firm’s executive management and works closely with the acquisition and capital market teams to oversee all real estate transactions. He helps to set strategy and further develop the firm’s market focus, investment execution and network of industry relationships. Mr. Hurd participates on the firm’s Management, Investment and Valuation Committees.

Mr. Hurd has almost 35 years of real estate investing experience with a strong focus on multifamily. Prior to joining Waterton, Mr. Hurd was the co-founder, president and chief investment officer of Strategic Capital Partners (“SCP”), a privately held real estate investment management company that invested over $1 billion in value add multifamily, hotel and commercial properties across the country. Prior to that, Mr. Hurd spent almost 20 years at GE Capital Real Estate, where he was most recently a managing director responsible for GE’s institutional real estate equity program. While at GE Capital, Mr. Hurd invested just under $2 billion in various equity joint ventures, preferred equity, mezzanine debt and convertible preferred equity strategies.

Mr. Hurd holds a bachelor’s degree from Ohio Wesleyan University and an MBA from Drexel University. He is a board member of The Catalyst Schools, a Chicago based chartered school organization. Mr. Hurd is also vice chairman of the Tax Committee for National Multi Housing Council and a member of the Urban Land Institute (ULI) Multifamily Silver Council. He is also on the Board of Advisors for the Wisconsin School of Business – James A. Graaskamp Center for Real Estate.

Matt Mering Waterton bio image
Executive Vice President, Hospitality

Matt Mering

Mr. Mering joined Waterton in 2019 and serves as executive vice president, hospitality.

Mr. Mering joined Waterton in 2019 and serves as executive vice president, hospitality. In this role, he is responsible for the formulation and execution of the firm’s hotel investment strategy, oversight of asset management and further developing investor relationships. Mr. Mering participates on the firm’s Management Committee.

Prior to joining Waterton, Mr. Mering spent six years with Graves Hospitality as director of development, where he was responsible for identifying new hospitality development and acquisition opportunities, and oversight of the company’s food and beverage operations. Prior to Graves Hospitality, Mr. Mering was a Principal at Salita Development, where he served as director of development.

Mr. Mering holds a bachelor’s degree in international relations from Michigan State University, and an MBA from the University of Chicago.
Mr. Hurd has almost 35 years of real estate investing experience with a strong focus on multifamily. Prior to joining Waterton, Mr. Hurd was the co-founder, president and chief investment officer of Strategic Capital Partners (“SCP”), a privately held real estate investment management company that invested over $1 billion in value add multifamily, hotel and commercial properties across the country. Prior to that, Mr. Hurd spent almost 20 years at GE Capital Real Estate, where he was most recently a managing director responsible for GE’s institutional real estate equity program. While at GE Capital, Mr. Hurd invested just under $2 billion in various equity joint ventures, preferred equity, mezzanine debt and convertible preferred equity strategies.

Mr. Hurd holds a bachelor’s degree from Ohio Wesleyan University and an MBA from Drexel University. He is a board member of The Catalyst Schools, a Chicago based chartered school organization. Mr. Hurd is also vice chairman of the Tax Committee for National Multi Housing Council and a member of the Urban Land Institute (ULI) Multifamily Silver Council. He is also on the Board of Advisors for the Wisconsin School of Business – James A. Graaskamp Center for Real Estate.

Steve Carlson Waterton bio image
Senior Vice President, Debt Capital Markets

Steve Carlson

Mr. Carlson joined Waterton in 2011 and serves as senior vice president of debt capital markets.

Mr. Carlson joined Waterton in 2011 and serves as senior vice president of debt capital markets. In this role, he is responsible for sourcing, arranging and negotiating debt financing for the firm’s acquisitions as well as its existing portfolio of properties. He is also involved in the firm’s Freddie Mac subordinated debt and mezzanine loan investment activities.

Mr. Carlson has been involved in real estate debt capital markets and private equity since 1997. Prior to joining Waterton, Mr. Carlson was a senior vice president at Bank of America Merrill Lynch in its Real Estate Corporate Banking Group, where he was responsible for structuring, underwriting and managing a $1 billion portfolio of bank loans to REIT, Homebuilder and Real Estate Opportunity Fund clients. Mr. Carlson also spent five years in Bank of America’s Debt Capital Markets business, where he executed over 35 private placement transactions raising over $7 billion in long-term debt for clients in diverse industries in Europe, Australia, New Zealand and North America. Earlier in his career, Mr. Carlson was an associate director in MetLife’s Private Equity Investment Group and a senior consultant at Accenture.

Mr. Carlson holds a bachelor’s degree in economics from Dartmouth College and an MBA from the University of Michigan.

Patrick Dimaano Waterton bio image
Vice President, Acquisitions - Pathway to Living

Patrick Dimaano

Mr. Dimaano joined Pathway to Living in 2009 and serves as vice president of acquisitions.

Mr. Dimaano joined Pathway to Living in 2009 and serves as vice president of acquisitions. In this role, he is responsible for the sourcing and execution of the acquisition and investment process for seniors housing properties. Following Waterton’s increased ownership in Pathway to Living effective 2019, Mr. Dimaano and the seniors housing acquisitions team are developing better methods to share best practices and market intelligence with the Waterton multifamily investment teams.

During his tenure with Pathway to Living, Mr. Dimaano has been involved in approximately $500 million in senior housing investments and developments. He also works closely with Pathway to Living’s strategic partners in their seniors housing development growth efforts.

Mr. Dimaano holds a a Bachelor of Science degree in finance with a concentration in real estate from DePaul University. He is a member of the American Senior Housing Association (ASHA) Rising Leaders Group as well as the DePaul Real Estate Alumni Association.

Kevin Ibasco Waterton bio image
Assistant Vice President, Acquisitions

Kevin Ibasco

Mr. Ibasco joined Waterton in 2017 and serves as assistant vice president, acquisitions.

Mr. Ibasco joined Waterton in 2017 and serves as assistant vice president, acquisitions. In this role he is responsible for sourcing and underwriting multifamily acquisitions in the Western United States. Mr. Ibasco began his career at the firm in the role of acquisitions analyst.

Prior to joining Waterton, Mr. Ibasco worked for J.P. Morgan as an analyst where he was responsible for building projection models, creating cash flow analyses, constructing cash management strategies, and played a key role in an educational initiative that involved analyzing alternative investment offerings for new funds.

Kevin holds a Bachelor of Arts in mathematics with a minor in economics from Northwestern University.

Julie Heigel - Waterton Team
Assistant Vice President, Acquisitions

Julie Heigel

Ms. Heigel joined Waterton in 2018 and serves as assistant vice president, acquisitions.

Ms. Heigel joined Waterton in 2018 and serves as assistant vice president, acquisitions. In this role she is responsible for sourcing and underwriting multifamily acquisitions in the Eastern United States.

Prior to joining Waterton, Ms. Heigel held the role of vice president at Pearlmark Real Estate where she supported both high-yield debt and equity origination efforts in the Midwest and Southeast. Prior to that, Ms. Heigel was a financial analyst with PNC Bank in Pittsburgh, where she completed commercial credit training and graduated from the Real Estate Banking Development Program.

Ms. Heigel is an “Under 35” Member of the Urban Land Institute (“ULI”) and currently serves as a member of the ULI Chicago Program Committee and Women Leadership Initiative (“WLI”) Executive Board, as well as the ULI Local Product Council – Green Flight. Ms. Heigel was the recipient of the ULI Chicago Jeffrey Kahan Fellowship in 2018.

Ms. Heigel holds a Bachelor of Science in business administration in finance with a minor in economics from The Ohio State University.

Peter Kuzma - Waterton Team
Senior Vice President, Acquisitions

Peter Kuzma

Mr. Kuzma joined Waterton in 2008 and serves as senior vice president, acquisitions.

Mr. Kuzma joined Waterton in 2008 and serves as senior vice president, acquisitions. In this role he is responsible for sourcing and underwriting multifamily acquisitions in the Western United States. Since joining the firm, Mr. Kuzma has been involved with the acquisition of over $1.5 billion in multifamily investments nationwide and was instrumental in setting up the firm’s revenue management system, Lease Rent Optimizer.

Mr. Kuzma holds a bachelor’s degree in economics from the University of Wisconsin – Madison. Mr. Kuzma is a member of the National Multi Housing Council (NMHC) Emerging Leaders Group as well as the Wisconsin Real Estate Alumni Association (WREAA).

Matthew Masinter Waterton bio image
Senior Vice President, Acquisitions

Matthew Masinter

Mr. Masinter joined Waterton in 2011 and serves as senior vice president, acquisitions.

Mr. Masinter joined Waterton in 2011 and serves as senior vice president, acquisitions. In this role he is responsible for sourcing and underwriting multifamily acquisitions in the Eastern United States. Mr. Masinter participates on the firm’s Management Committee.

Prior to joining Waterton, he was the executive vice president at Fifield where he oversaw multifamily acquisitions nationwide. Prior to Fifield, Mr. Masinter was the chief investment officer at Covington Realty Partners, where he oversaw the acquisition and portfolio management of over $300 million in multifamily and commercial properties. Prior to Covington, he was the vice president of acquisitions with The Laramar Group and with Heitman, LLC, and acquired over $1 billion worth of multifamily and commercial properties.

Mr. Masinter holds a bachelor’s degree in business administration from Washington University in St. Louis. He has previously held the Certified Public Accountant (CPA) designation and is a member of the American Institute of Certified Public Accountants (AICPA).

Jeremy Stern Waterton bio image
Assistant Vice President, Acquisitions

Jeremy Stern

Mr. Stern joined Waterton in 2019 and serves as assistant vice president, acquisitions.

Mr. Stern joined Waterton in 2019 and serves as assistant vice president, acquisitions. In this role, he is responsible for sourcing and underwriting multifamily acquisitions in the Western United States.

Prior to joining Waterton, Mr. Stern was an associate with Jaguar Growth Partners where he was responsible for sourcing, analyzing and executing new investments, and designing and implementing value add strategies for existing portfolio companies. Previously, Mr. Stern worked for The Stahl Organization where he was responsible for pursuing new investment opportunities and Apple Bank, a subsidiary of The Stahl Organization, where he analyzed commercial mortgages for income producing properties.

Mr. Stern holds a bachelor’s degree in economics from the University of Michigan and an MBA from Columbia Business School.

Philip Lukowski Waterton bio image
Executive Vice President, Chief Portfolio Manager

Philip J. Lukowski

Mr. Lukowski joined Waterton in 2006 and serves as executive vice president, chief portfolio manager.

Mr. Lukowski joined Waterton in 2006 and serves as executive vice president, chief portfolio manager. In this role, Mr. Lukowski is responsible for the oversight of the portfolio management team for the firm’s multifamily portfolio and collaborating with investors on its investments. He oversees the execution of fund and asset level business plans and hold sell strategies, valuations and appraisals, compliance with fund and investor agreements, real estate tax administration and commercial leasing. Mr. Lukowski participates on the firm’s Management, Investment and Valuation Committees.

Prior to joining Waterton, Mr. Lukowski spent almost 20 years at Heitman LLC, most recently as senior vice president, portfolio management. In this role, he acted as senior portfolio manager for public and corporate pension fund clients and was responsible for the selection and oversight of third party management firms, monitoring of property operations and leasing, and coordinating investor accounting, performance and valuations. Mr. Lukowski was also employed by the accounting firm of Pannell Kerr Forster in the real estate appraisal department while attending DePaul University.

Mr. Lukowski holds a bachelor’s degree in finance and an MBA from DePaul University. He served as Chairperson of the Performance Measurement Committee of National Council of Real Estate Investment Fiduciaries (NCREIF) from 1995 – 1996 and has been a member since 1989. He previously served as a member of the International Council of Shopping Centers and is currently an active member of the Pension Real Estate Association (PREA) and National Association of Real Estate Investment Managers (NAREIM). Mr. Lukowski is an Executive Committee sponsor member of DePaul’s Driehaus College of Business, The Real Estate Center and a board member of the One for the Kids charity organization.

Brett Gerig Waterton bio image
Senior Vice President, Portfolio Management

Brett Gerig

Mr. Gerig joined Waterton in 2009 and serves as senior vice president, portfolio management for the multifamily portfolio.

Mr. Gerig joined Waterton in 2009 and serves as senior vice president, portfolio management for the multifamily portfolio. In this role Mr. Gerig is responsible for assets located in Arizona, North Carolina, Texas and Virginia. He is responsible for the execution of portfolio business plan strategies and monitoring of fund compliance, as well as directing and managing support of analytical and reporting functions including appraisals, valuations and real estate tax and commercial leasing administration. Prior to joining the firm’s portfolio management team, Mr. Gerig held the role of assistant vice president, residential accounting.

Prior to joining Waterton, Mr. Gerig held the roles of senior portfolio accountant for Interra Development Partners, a real estate development firm partnered with Prudential Real Estate Investors, and senior associate at Ernst & Young, LLP.

Mr. Gerig holds a bachelor’s degree in accounting and finance from the University of Toledo. He is a licensed Certified Public Accountant and is a member of the American Institute of Certified Public Accountants (AICPA), Illinois CPA Society, Valuation Committee of the National Council of Real Estate Investment Fiduciaries (NCREIF), Chicago Real Estate Council, and Chicago’s Real Estate Investment Association.

Mark Hahn Waterton bio image
Vice President, Asset Management

Mark Hahn

Mr. Hahn joined Waterton in 2019 and serves as vice president, asset management.

Mr. Hahn joined Waterton in 2019 and serves as vice president, asset management. In this role, Mr. Hahn is responsible for the execution of asset business plans and strategies as well as directing and managing analytical, reporting and asset management functions for a targeted group of multifamily and seniors housing assets.

Prior to joining Waterton, Mr. Hahn spent over sixteen years at Kensington Realty Advisors (“Kensington”), most recently as vice president, and has been involved in the real estate industry since 2001. In his role at Kensington, Mr. Hahn was responsible for the asset management of a portfolio of multifamily, seniors housing and retail assets on behalf of pension fund and foreign capital investors. Additionally, during his tenure, Mr. Hahn executed the disposition of approximately $900 million of multifamily, seniors housing and student housing assets. Mr. Hahn began his career at Wangard Partners.

Mr. Hahn holds a Bachelor of Science degree in information technology from Marquette University. He has been an active member of the Urban Land Institute since 2009 and participates in the group’s Chicago Local Product Council. Throughout his career, Mr. Hahn has been involved with the Chicago Real Estate Council, National Association of Real Estate Investment Managers and Young Real Estate Professionals.

Edward Kruse Waterton bio image
Senior Vice President, Portfolio Manager

Edward Kruse

Mr. Kruse joined Waterton in 2009 and serves as senior vice president, portfolio manager for the multifamily portfolio.

Mr. Kruse joined Waterton in 2009 and serves as senior vice president, portfolio manager for the multifamily portfolio. In this role, Mr. Kruse is responsible for assets located in Maryland, Minnesota, New York, Virginia, North Carolina and suburban Illinois. Within these states, Mr. Kruse is responsible for all portfolio investments, including the creation and execution of annual business plans for each asset, working closely with operations, and assisting with property acquisitions and dispositions and monitoring fund and investor related compliance. He also is responsible for coordinating the monthly portfolio management/operations meetings to address budget/forecasting, portfolio trends, industry benchmarking and capital program management.

Prior to joining Waterton, Mr. Kruse served as portfolio manager with First Industrial Properties Trust where he was responsible for portfolio and financial oversight for several private equity joint ventures with clients CalSTRS, UBS Wealth Management and the Kuwait Finance House. He also served 12 years in various portfolio and investment management roles with Equity Office Properties Trust including role as the Director of Portfolio Management for regions totaling over 15 million square feet.

Mr. Kruse holds a bachelor’s degree in finance from the University of Wisconsin-Oshkosh.

Daniel Phelps Waterton bio image
Vice President, Asset Management

Daniel Phelps

Mr. Phelps joined Waterton in 2006 and serves as vice president, asset management .

Mr. Phelps joined Waterton in 2006 and serves as vice president, asset management . In this role, Mr. Phelps is responsible for the creation and execution of portfolio strategies, directing and managing analytical and reporting functions. Working closely with operations and acquisitions, he also assists in the acquisition, capital expenditure management and disposition of assets.

Prior to joining Waterton, Mr. Phelps served as senior analyst at Realogic Analytics where he provided real estate valuation and active management services to an array of major clients across all commercial real estate asset classes. During this time he underwrote over $2 billion in closed real estate financings and played an instrumental role in developing a valuation model used during the first-ever CMBS securitization of condominium conversions.

Mr. Phelps holds a Bachelor of Science in Business degree in real estate finance from Indiana University.

Lela Cirjakovic Waterton bio image
Executive Vice President, Operations

Lela Cirjakovic

Ms. Cirjakovic joined Waterton in 2006 and serves as executive vice president of operations.

Ms. Cirjakovic joined Waterton in 2006 and serves as executive vice president of operations. In this role, Ms. Cirjakovic has direct oversight of the firm’s portfolio of multifamily properties located throughout the United States. Ms. Cirjakovic is responsible for the strategic direction of the property management platform, enhancing the portfolio’s financial performance and the resident experience. She also oversees the firm’s information technology and training and development functions. Ms. Cirjakovic participates on the firm’s Management and Investment Committees.

Prior to joining Waterton, Ms. Cirjakovic spent 12 years at CAMCO, Inc., a Chicago multifamily property management company where she served as member of the Senior Executive Committee and as regional property manager overseeing the company’s Midwest operations. Previously, Ms. Cirjakovic was a regional property manager for Midland Property Management and began her career at the Illinois Housing Development Authority where she was an asset manager for a 20-property portfolio.

Ms. Cirjakovic holds a bachelor’s degree in finance from Loyola University in Chicago. She is a member of The Chicagoland Chamber of Commerce and the Chicagoland Apartment Association, The National Apartment Association, National Multifamily Housing Council and is on the Local Leadership Board for the American Lung Association.

John Daley Waterton Bio image
Senior Vice President, Design and Construction

John Daley

Mr. Daley joined Waterton in 2015 and serves as senior vice president of design and construction.

Mr. Daley joined Waterton in 2015 and serves as senior vice president of design and construction. In this role, he is responsible for the design and construction functions of the firm’s residential and hospitality platforms. Mr. Daley participates on the firm’s Management Committee.

Mr. Daley has more than 30 years of experience in development and construction. Prior to joining Waterton, Mr. Daley was president for the Real Estate Capital division of Scout Development, where he was responsible for managing the internal team and consultants related to acquisition, capitalization, design, architecture, engineering, and field construction. Prior to joining Scout Development, Mr. Daley held the role of chief operating officer for Northern Heritage Development, a building and development company. He has extensive experience in both multifamily and hotel projects.

Peg Blackhall Waterton Bio image
Vice President, Design and Construction

Peg Blackall

Ms. Blackall joined Waterton in 2019 and serves as vice president, design and construction.

Ms. Blackall joined Waterton in 2019 and serves as vice president, design and construction. In this role, Ms. Blackall is responsible for the oversite of Waterton’s architectural, design and construction processes.

Ms. Blackall has 30 years of experience in the design and construction field. Prior to joining Waterton, Ms. Blackall worked for real estate firm Cushman and Wakefield as director of project management. Previously, she worked for Ford Fry Restaurants where she was vice president of development and Scout Capital as vice president of design and development.

Ms. Blackall holds a Bachelor of Architecture from Louisiana State University School of Architecture. She has been a licensed architect since 1990.

Scott Ferguson Waterton bio image
Senior Vice President, Regional Operations

Scott Ferguson

Mr. Ferguson joined Waterton in 2016 and serves as senior vice president, regional operations.

Mr. Ferguson joined Waterton in 2016 and serves as senior vice president, regional operations. In this role, he oversees multifamily operations for all properties in the Western United States.

Prior to joining Waterton, Mr. Ferguson was a district manager for Related Management Company, where he directed the lease-up of two newly developed luxury apartment towers in downtown Chicago and managed a portfolio of high-end condominiums in Chicago’s South Loop. Previously, Mr. Ferguson spent nine years with Village Green Management serving in various roles including assistant vice president, where he managed a variety of urban and suburban assets for institutional clients throughout the Midwest.

Mr. Ferguson holds a Bachelor of Arts degree from Oakland University in Rochester, MI. He is an Illinois licensed real estate managing broker.

David Scharfenberg Waterton bio image
Senior Vice President, Regional Operations

David Scharfenberg

Mr. Scharfenberg joined Waterton in 2011 and serves as senior vice president, operations.

Mr. Scharfenberg joined Waterton in 2011 and serves as senior vice president, operations. In this role, he oversees multifamily operations for all properties in the Eastern United States. Prior to this role, Mr. Scharfenberg served as the general manager of Presidential Towers, the firm’s largest apartment community, located in Chicago, IL.

Prior to joining Waterton, Mr. Scharfenberg was a regional director for Holiday Retirement where he managed the operations and sales for senior living communities throughout the state of Washington. He also spent nine years with Oakwood Worldwide where he had oversight of corporate housing communities in major U.S. markets. Mr. Scharfenberg’s career started with the Four Seasons Hotel in Austin, Texas where he served in various managerial roles.

Mr. Scharfenberg holds a Bachelor of Science degree in hotel administration from University of Nevada – Las Vegas. He is a licensed broker in New York State.

Bob Nietzel Waterton bio image
Vice President, Project Management

Bob Nietzel

Mr. Nietzel joined Waterton in 2013 and serves as vice president, project management.

Mr. Nietzel joined Waterton in 2013 and serves as vice president, project management. In this role, he is responsible for multifamily and hotel capital improvement projects from scope development to construction completion and final payment disbursements.

Prior to joining Waterton, Mr. Nietzel spent six years at Portfolio Hotels & Resorts where he was responsible for capital renovations, technology projects and ongoing operations support.

Mr. Nietzel holds a Bachelor of Science degree in hospitality management from Moorhead State University.

Amy Wells Waterton bio image
Vice President, Transitions

Amy Wells

Ms. Wells joined Waterton in 2009 and serves as vice president, transitions.

Ms. Wells joined Waterton in 2009 and serves as vice president, transitions. In this role, she is responsible for oversight of operations during due diligence, underwriting and transition of assets for the firm’s acquisitions and dispositions. She also oversees the operations analytics task force management teams.

Prior to joining Waterton, Ms. Wells spent eight years with American Invsco, a national developer, as project manager for condominium conversions in Chicago and Las Vegas. She also worked for eight years at The Habitat Company, a Chicago multifamily property management company, where she managed a variety of high-rise apartment communities in downtown Chicago.

Ms. Wells holds a Bachelor of Arts degree in biology from Illinois Wesleyan University.

Brian Burke - Waterton Team
Vice President, Capital Programs

Brian Burke

Mr. Burke joined Waterton in 2016 and serves as vice president of capital programs.

Mr. Burke joined Waterton in 2016 and serves as vice president of capital programs. In this role, he is responsible for overseeing the capital programs team for all multifamily projects.

Prior to joining the firm, Mr. Burke was Head of Construction at Hostetter Homes where he successfully managed and completed $14 million in capital projects annually. Prior to that, he spent five years as chief operating officer at Broderick Building where he was responsible for oversight of their operations and construction teams, and managed over $12 million in capital projects annually. He began his career working for his family’s construction business.

Mr. Burke studied Economics and Finance at Southern New Hampshire University and is a licensed MA Construction Supervisor.

Waterton placeholder employee image
Vice President, Business Intelligence and Reporting

Chris Kersten

Mr. Kersten joined Waterton in 2020 and serves as vice president, business intelligence and reporting.

Mr. Kersten joined Waterton in 2020 and serves as vice president, business intelligence and reporting. In this role, he is responsible for developing reporting and business intelligence solutions; overseeing the implementation and ongoing maintenance and integrity of Waterton’s Data Warehouse; extracting, loading and analyzing data from and within the firm’s various data platforms and serves as the Waterton’s “data evangelist” managing intelligence across the firm’s portfolio.

Prior to joining Waterton, Mr. Kersten was vice president of data management at Performance Trust Capital Partners and director of business intelligence at OpenHouse Acquisitions.

Mr. Kersten holds a bachelor’s degree in economics, a master’s degree in management information systems and an MBA, all from the University of Illinois at Chicago.

Senior Vice President, Technology

Doug Pearce

Mr. Pearce joined Waterton in 2013 and serves as senior vice president of technology.

Mr. Pearce joined Waterton in 2013 and serves as senior vice president of technology. In this role, Mr. Pearce is responsible for all technology used at the corporate offices, as well as all multifamily communities. He is responsible for implementing strategic solutions, improving technology platforms, realigning the IT department and enabling future IT success at the firm.

Mr. Pearce has over 33 years of information technology and leadership experience. Prior to joining Waterton, Mr. Pearce was the head of information technology at Henderson Global Investors where he was responsible for the design, development and ongoing support of the technology infrastructure and systems used in support of Henderson’s Real Estate, Institutional and Retail (Mutual Fund) departments in Chicago, IL and Hartford, CT.

Mr. Pearce holds a Bachelor of Arts in business administration and information technology from the University of Hartford.

Tara Marszewski Waterton bio image
Chief Financial Officer

Tara Marszewski

Ms. Marszewski joined Waterton in 2019 and serves as chief financial officer. In this role, she is responsible for …

Ms. Marszewski joined Waterton in 2019 and serves as chief financial officer. In this role, she is responsible for the direct oversite of finance, corporate, residential and hospitality accounting, as well as the firm’s tax, treasury, and benefits and compensations functions. Ms. Marszewski participates on the firm’s Management, Investment and Valuation Committees.

Prior to joining Waterton, Ms. Marszewski was CFO of Brookfield Properties retail group where she oversaw all aspects of the accounting and finance functions including property and operational accounting, SEC reporting and compliance, corporate finance, financial planning and analysis, and taxation. She was previously chief accounting officer of General Growth Properties, Inc. (GGP), which later merged with Brookfield, and prior to that spent 10 years as a senior manager in the real estate audit practice at KPMG, focused on both public and private REITs as well as equity funds.

Ms. Marszewski holds a Bachelor of Science in accountancy from the University of Illinois and is a Certified Public Accountant. Ms. Marszewski is a member of the AIPCA and a former member of NAREITs Best Financial Practices Council and co-chair of its Accounting Committee.

Susan Scheutz Waterton bio image
Vice President, Treasury

Susan Scheutz

Ms. Schuetz joined Waterton in 2015 and serves as vice president of treasury.

Ms. Schuetz joined Waterton in 2015 and serves as vice president of treasury. In this role Ms. Schuetz oversees all treasury functions as well as accounts payable for all of the firm’s properties. She is responsible for managing treasury functions for all funds, corporate entities and lender requirements.

Prior to joining Waterton, Ms. Schuetz worked for SP+ Corporation where she held the role of director of treasury.

Ms. Schuetz holds a bachelor’s degree in accountancy from Bradley University and an MBA from University of Chicago Booth School of Business. She is a Certified Public Accountant as well as a Certified Treasury Professional.

Megan O'Malley Waterton bio image
Vice President, Hospitality Asset Management & Accounting

Megan O'Malley Borus

Ms. O’Malley Borus joined Waterton in 2008 and serves as vice president of hospitality accounting.

Ms. O’Malley Borus joined Waterton in 2008 and serves as vice president of hospitality accounting. In this role, Ms. O’Malley Borus oversees accounting and financial reporting for the firm’s hospitality funds, joint ventures and hotel properties.

Prior to joining Waterton, Ms. O’Malley Borus worked as an auditor for Ernst & Young, LLC specializing in the real estate industry, serving public and private clients including hospitality, private equity firms, and real estate investment trusts.

Ms. O’Malley Borus holds bachelor’s and master’s degrees in accounting from Marquette University and is a Certified Public Accountant. She is a member of the American Institute of Certified Public Accountants.

Jason Hainaut Waterton bio image
Senior Vice President, Residential Accounting

Jason Hainaut

Mr. Hainaut joined Waterton in 2012 and serves as senior vice president, residential accounting.

Mr. Hainaut joined Waterton in 2012 and serves as senior vice president, residential accounting. In this role Mr. Hainaut is responsible for the oversight of the portfolio accounting, property accounting, construction accounting and internal audit teams. Prior to his current role, Mr. Hainaut held the role of vice president, residential accounting.

Prior to joining Waterton Mr. Hainaut worked as an auditor at Grant Thornton, specializing in audits of financial services companies.

Mr. Hainaut holds a Master of Science degree in accountancy from University of Illinois. He is a Certified Public Accountant.

Roger Daou Waterton bio image
Vice President, Residential Accounting

Roger Daou

Mr. Daou joined Waterton in 2008 and serves as vice president, residential accounting.

Mr. Daou joined Waterton in 2008 and serves as vice president, residential accounting. In this role Mr. Daou is responsible for overseeing the residential accounting team that handles the monthly financial statement preparation of the residential property investments and the accounting and reporting of various funds and joint ventures. Mr. Daou began his career at Waterton as a property staff accountant and joined the portfolio accounting team in 2009 where he was responsible for accounting and reporting of various funds and joint ventures.

Prior to joining Waterton Mr. Daou worked at Baker Tilly Virchow Krause, LLP as an auditor in the real estate practice. Mr. Daou is a member of the American Institute of Certified Public Accountants (AICPA), Illinois CPA Society and participates with the National Council of Real Estate Investment Fiduciaries (NCREIF).

Mr. Daou holds a Bachelor of Science degree in finance from University of Illinois at Urbana-Champaign and a Master of Science degree in accountancy from University of Illinois at Chicago. He is a Certified Public Accountant.

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