Timberline Real Estate Ventures

Andrew is a founding Principal of Timberline Ventures where he leverages his 25 years of hands-on real estate experience. Widely regarded as an entrepreneurial and innovative thinker in the real estate industry, Andrew’s experience crosses many disciplines including, legal, finance, land development, construction, strategic planning and capital markets. Under Andrew’s leadership, he grew the Campus Evolution Villages brand to approximately 10,000 beds since his launching of the company in 2012. Campus Evolution was recognized as a leader in student housing and has gained ranking as a top 20 student housing owner by Student Housing Business; today Andrew also and serves as Executive Vice President of B.Hom Student Living. Student housing is not new to Andrew, as Mr. Stark was instrumental in launching American Campus Communities (NASDAQ: ACC), an early student housing company, which later went on to be the first company in the sector to go public on a US stock exchange.

Andrew and his partners brought the capital to ACC to acquire its first asset and then acquired the company, built-out the management team and provided all growth capital leading up to its IPO. This initial venture was successful in bringing creative thinking and capital to this student housing vehicle in a sector that was in its infancy. Prior to launching Campus Evolution, Mr. Stark oversaw and consummated the recapitalization of a ’34 Act specialty finance company with private equity funding during the economic downturn of the late 2000’s. He was responsible for negotiating and completing this highly complex transaction in the face of shareholder challenges and pending SEC investigations. Mr. Stark secured capital commitments for the transaction, and after closing, immediately implemented action items to stabilize the management of the organization and commenced asset dispositions to move the company into positive cash positions for future originations and growth. As Managing Director of Cantor Fitzgerald, Mr. Stark focused on opportunistic investments in real estate assets and platform vehicles, including distressed land assets, development projects and strategic investments in capital constrained assets. As President of the Northeast and Mid-Atlantic regions of a publicly traded homebuilding which he sold his company to, Andrew oversaw the company he grew ten-fold in revenue to be a leading regional homebuilder prior to consummating a combination with the public company.

Nathaniel is a founding Principal at Timberline Real Estate Ventures. With over 15 years of hands-on real estate, private equity and investment banking experience, Nathaniel has been a leader in all aspects of real estate analysis, acquisitions, asset management, capital raising and operations for high-net-worth and institutional investment partners. Nathaniel partnered with Andrew Stark in 2012 and launched Campus Evolution Villages growing the company from two employees to a top 20 student housing owner/operator with more than 250 employees across the country. Today Nathaniel serves as Executive Vice President of B.Hom Student Living.

Prior to launching Campus Evolution Villages, he worked in the Investment Banking group at Cantor Fitzgerald where he helped execute various strategic advisory transactions and capital raises for alternative investment funds, structured investment vehicles, traditional private placements, primary and secondary offerings as well as equity linked, preferred, debt and mezzanine securities. Previously, he worked on the investment and asset management team for a value-add private equity fund at LaSalle Investment Management, where he helped acquire over $2 billion in real estate assets on behalf of institutional investors. Nathaniel graduated from the University of Notre Dame and the University of Chicago Booth School of Business.

Chris Murray is a Managing Director at Timberline Real Estate Ventures, leading the company’s Asset Management department. Chris is responsible for Timberline’s residential portfolio operations, including all financial, operational, and reputational aspects, and overseeing Timberline’s property management company, B.HOM Student Living. Chris’s focus is to drive bottom-line growth and asset performance, yielding more substantial returns for Timberline and its partners by working alongside B.HOM’s corporate and onsite teams concerning the operation and performance of all of Timberline’s assets.

Before joining Timberline, Chris spent six years with JRK Property Holdings, where he was a Senior Vice President overseeing a multifamily portfolio with more than 10,000 apartment units across 35 communities in 12 states across the eastern U.S. While leading JRK’s East Coast Operations, Chris oversaw all financial and operational aspects of his properties. During his tenure at JRK, Chris was heavily involved in the acquisition of new multifamily assets and also assisted in the company’s hospitality asset management. Chris started his professional career at Bank of America Merrill Lynch, where he worked on the Algorithmic Trading Desk. As a Sales Trader, he worked with the most significant hedge funds and institutions to efficiently trade both U.S. and International Equities. Chris graduated from Cornell University with a BS in Economics.

Kyle Nemeroff is a Managing Director at Timberline Real Estate Ventures, responsible for the firm’s national real estate and corporate acquisitions. Kyle covers the entire country, overseeing market research and analysis for new market expansions, and is primarily responsible for all asset vetting and underwriting.

Before joining Timberline, Kyle spent five years at Heitman Capital Management, a global real estate investment firm with $42 billion in assets under management. He specialized in acquisitions and financings across all asset classes. Kyle worked in Heitman’s North America Private Equity and Private Debt divisions, where he analyzed, underwrote, structured, and originated over $6 billion of gross deal volume. While at Heitman, Kyle closed more than $2.5 billion of core, value-add, and development investments (including acquisitions, senior bridge loans, and mezzanine/preferred equity) for Heitman’s various discretionary funds and separate client accounts. Highlights at his time at Heitman include acquiring the first-ever student housing asset into the firm’s open-ended core fund and the acquisition of over 4,000 residential units. Kyle leads with a hands-on and strategic approach to direct sourcing transactions and joint-venture relationships across all real estate asset classes. Prior to his time at Heitman, Kyle worked at HFF. He received a BBA in both Real Estate and Urban Land Economics and Investment Banking from the University of Wisconsin-Madison and is an active member in the Wisconsin Real Estate Alumni Association.

Lauren Rosenberg is a Director at Timberline Real Estate Ventures responsible for acquisitions across all asset types, including corporate opportunities, nationwide. Lauren’s primary responsibility is to strategically expand Timberline’s national footprint through detailed market research, asset class due to diligence, and ultimately asset selection within each market. Lauren joined Timberline in 2016; before joining Timberline, Lauren worked as an analyst at Candlebrook properties, where she was responsible for underwriting new acquisitions, recapitalization, and various financing strategies. Before Candlebrook, Lauren worked as an acquisitions intern at Fortuna Realty Group – a New York City-based owner/developer of hotels. Lauren earned a B.S. in Real Estate Finance from Baruch College-CUNY.

Jack Hope is an Associate at Timberline Real Estate Ventures in the Acquisitions and Asset Management Group. Jack is primarily responsible for the underwriting, due diligence, and financing of new acquisitions as well as assisting in the day-to-day asset management of Timberline’s student housing and multifamily portfolio.

Jack previously served as an Investment Associate for Vesper Holdings, where he contributed to approximately ~$1 billion in student housing and multifamily acquisitions, dispositions, recapitalizations and refinancing. Prior to joining Vesper, he served as a valuation consultant for Altus Group in the firm’s global advisory group, where he assisted in the valuation and reporting of several open-end diversified core funds’ portfolios spread across various sectors including housing, industrial, hospitality, office, mixed-use and retail properties.

Jack received a BS in Real Estate and Finance from The Smeal College of Business at The Pennsylvania State University.

Ben Rosen joined Timberline in February, 2023 as an Asset Management Analyst. Ben supports Timberline’s residential portfolio operations, including overseeing all financial, operational, and reputational aspects of the portfolio.

Ben work collaboratively with Timberline’s property management company, B.HOM Student Living, providing operational oversight and deliberative analysis of asset performance. Ben tracks and assists with capital projects across Timberline’s portfolio.

Before joining Timberline, Ben spent 2 years supporting asset management and acquisitions at Power REIT, a publicly traded REIT with holdings in controlled environment agriculture, solar farm land, and railroad property.

Ben graduated from Cornell University with a BA in Political Science and currently lives in NYC.