Leadership

Bob Krokower

Chief Executive Officer

Mr. Krokower is the Chief Executive Officer at Security Properties where he oversees a 22,000 unit apartment portfolio with assets located in 21 states plus the District of Columbia. The company has been in business since 1969 and operates with four separate business units including development, conventional acquisitions, affordable acquisitions, and in-house property and asset management. He has 31 years of experience in real estate and has completed over $5.2b in transactions and raised over $900m of institutional equity.

Prior to joining Security Properties, Mr. Dufenhorst worked 13 years as the President and Managing Partner of a private developer based in Los Angeles with offices in Denver, Phoenix, and Las Vegas. His previous work experience also included working in the real estate group for an investment banking firm based in San Francisco and he was the Director of Development for Intrawest.

Mr. Dufenhorst attended the University of Idaho where he received an undergraduate degree in business and attended the University of Southern California where he obtained a Master of Real Estate Development. He is a CPA (inactive), a California real estate broker, a gold multifamily council member of the Urban Land Institute, a board member of Long Live the Kings, a member of the National Multi-Housing Council, a member of the National Association of Home Builders Multifamily Leadership Group, a member of Pacific Real Estate Institute, and an Executive Committee Member of the USC Lusk Center for Real Estate.

Bob Krokower

Chief Executive Officer

Bob Krokower is the CEO and CFO of Security Properties. He leads the Investment Committee and is a member of the Board of Managers. Mr. Krokower has the broad responsibility for strategic planning, growth, and the financial health of the organization. In addition, he is involved in all aspects of SP’s business units including acquisitions, dispositions, asset management, development, and property operations. During Mr. Krokower’s 17-year tenure, SP has acquired and developed over 200 properties and disposed of approximately 250 properties representing a combined transaction volume of over $10 billion.

Prior to joining SP in 2003, Mr. Krokower spent five years as Chief Financial Officer for Harbor Properties, Inc. (real estate development and property management) and Harbor Mountain LLC (ski resort operations and resort real estate). From 1992 to 1998, he operated his own consulting firm which offered financial and administrative support to real estate development and operations companies. Prior to 1992, Mr. Krokower worked as Senior Vice President of Finance and Administration, Corporate Secretary and Director of the Donald L. Bren Company and Bren Investments Properties (real estate development companies). He is a graduate of California State University with a degree in accounting.

John Marasco

Chief Development Officer

John Marasco is Security Properties’ Chief Development Officer and is responsible for all aspects of SP’s multifamily and commercial real estate development. He is a member of the Investment Committee and the Board of Managers. Mr. Marasco joined Security Properties in 1992 as a Development Project Manager. Having started his career in real estate with the largest land developer in the Pacific Northwest, Mr. Marasco’s particular expertise in land acquisition and development proved instrumental in establishing SP as one of Seattle’s leading development teams.

Under Mr. Marasco’s leadership, SP has expanded its development portfolio through responsible and sustainable buildings that reflect and reinforce the unique attributes of their neighborhood. From 2012 through 2019, SP has built and successfully delivered a pipeline of over 2,000 units at a capitalized cost of $1 billion. Mr. Marasco has expanded development capabilities to include office and light industrial. Moreover, his team has established a niche development strategy for urban mixed-use development with grocery-anchored retail with successful entitlement and development in cities such as Seattle, Portland, San Francisco, and Chicago. Mr. Marasco’s additional strengths include analysis, financial structuring, construction management, rehabilitation, asset turnaround, marketing, and sales.

Prior to joining Security Properties in 1992, he served as Acquisition Manager for a Seattle-area multifamily real estate syndication and development company. He has a Bachelor of Science degree from the University of Oregon and completed graduate courses at the University of Washington's Department of Civil Engineering. He maintains a Washington real estate broker's license and has received a University of Washington Certificate in Commercial Real Estate.

Julie Driscoll

Chief Accounting Officer

Julie Driscoll is the Chief Accounting Officer at Security Properties where she oversees financial reporting and day to day accounting functions for a portfolio of assets over $5 Billion. Prior to joining Security Properties in 2006, Ms. Driscoll was part of the real estate finance team at Vulcan Real Estate. There she worked with joint venture reporting, project budgeting, commercial property management and a diversified south lake union real estate portfolio from pre-development through development stages. Ms. Driscoll began her career in public accounting with RSM McGladrey where she performed audits and prepared tax returns for a range of clients from the banking industry to Northwest fishing boats. She is a graduate of the University Of Washington Foster School Of Business with a Bachelor’s degree in Accounting.

Dan Byrnes

Chief Investment Officer

Dan Byrnes is the Chief Investment Officer for Security Properties. He is a member of the Investment Committee and the Board of Managers. Mr. Byrnes has 19 years of experience in commercial real estate. He is responsible for the development of both long- and short-term investment plans for each business unit and for the company as a whole. Mr. Byrnes has completed over 150 transactions totaling $6 billion since joining Security Properties in 2012. In addition, he oversees day-to-day management of Security Properties’ multifamily funds.

Prior to joining Security Properties, he served as a Director of Investment Sales in HFF’s New York City office, where he completed over $4 billion of real estate transactions, spanning all major US markets and asset types. Mr. Byrnes holds a Bachelor’s Degree in Economics-Operations Research from Columbia University and an MBA from the Haas School of Business at University of California, Berkeley.

Steve TeSelle

Managing Director, Affordable Housing Group

Steve TeSelle is a Managing Director on the Affordable Housing Team at Security Properties. He focuses on the acquisition and development of affordable apartments nationwide utilizing a variety of joint venture equity and 4% and 9% low income housing tax credits. He is responsible for leading the acquisition process including overseeing initial underwriting and feasibility, contract negotiation, due diligence, financing and partnership structuring and closing.

Since joining Security Properties in 2007, Mr. Teselle has been involved in a wide variety of projects including GP interest acquisitions, LP interest acquisitions, note purchases, mixed use communities, acquisitions with institutional joint venture partners and 4% tax credit and tax exempt bond rehabilitations.

Davis Vaughn

Managing Director, Acquisitions

Davis Vaughn is a Managing Director at Security Properties and leads the Acquisitions Team, the number one buyer by volume of institutional apartments in the Pacific Northwest. The team is focused on acquiring market rate apartments in partnership with institutional equity in all west coast metros plus Tennessee and Texas. Deal targets include core, core-plus, value-add and opportunistic real estate. Has acquired over 20,000 units with total capitalization above $5.0B in his career.

He is also responsible for all capital raising with institutional equity. This includes sourcing equity and joint venture structuring and partnerships. Equity partners include insurance companies, pension funds, international equity, private equity funds and high net worth individuals. To date, he has placed approximately $2.0B of institutional equity.

Of assets acquired, $2.3B have been sold resulting in $900M of value creation and deal level returns averaging a 30% IRR with over a 50% IRR for Security Properties.

Prior to joining Security Properties, Davis worked on institutional debt and equity placement for Northwestern Mutual in their Seattle real estate office. He graduated Cum Laude from the University of Washington with a Bachelor’s Degree in Finance. He also has a Commercial Real Estate Certificate from the University of Washington.

Ed McGovern

Managing Director, Capital Markets

Ed McGovern joined Security Properties in 2009 and is the Managing Director of Capital Markets. He is a member of the Investment Committee. Mr. McGovern is responsible for raising private equity and debt from high net worth investors, institutions, and family offices to be invested alongside our partners and our own capital. To date, he has raised over $300 million of private capital to aid in the financing of more than 120 Security Properties assets worth over $3 billion. In addition, Mr. McGovern is involved in managing the firm’s branding and public relations strategy and is responsible for interactions with the media.

Mr. McGovern has over 20 years of finance and real estate experience involving high rise commercial development and real estate private equity. His career has involved both investment and disposition roles in office, hotel, retail, and multifamily real estate for both ground-up development and acquisition/rehab projects.

Prior to joining Security Properties in 2009, Mr. McGovern held real estate development and investment roles with Schnitzer Northwest and Bentall Kennedy, as well as positions in investment banking. He has been responsible for the development and leasing of over two million square feet of commercial real estate in the Pacific Northwest and the development of hotels throughout the U.S. He holds a Bachelor of Science in History from the U.S. Naval Academy, an MBA from Columbia University and a Certificate in Construction Management from the University of Washington. He currently serves as a Board Member and was a former Adjunct Professor for the University of Washington Department of Real Estate MSRE program. He has also been involved with the Puget Sound Regional and National Corporate Board of Directors for NAIOP.

Jason McKinley

Managing Director, Asset Management

Jason McKinley is the Managing Director of Asset Management. He is a member of the Investment Committee and the Board of Managers. As head of asset management, Mr. McKinley is responsible for executing the business plan developed for each property in the Security Properties portfolio, including renovations, joint venture partner relations, implementation of new technologies and systems, property management relationships, retail leasing, and market and data analysis. He also has oversight responsibility for IT, private capital, and corporate cash forecasting and reporting.

Mr. McKinley has held a variety of positions at Security Properties since joining in 2007. He started in the Affordable Housing Group and later worked as Manager of Corporate Initiatives and Senior Director of Corporate Finance. He has worked in Asset Management since 2014, during which time he oversaw nearly 50 properties with a total of more than 10,000 units, both conventional and affordable. He holds a Bachelor of Science in Economics with a concentration in Real Estate from the Wharton School at the University of Pennsylvania and a Master’s in Real Estate from Harvard’s Graduate School of Design.

Mike Voorhees

Managing Director, Property Management

Mike Voorhees is the President and the Managing Director of Security Properties Residential. He is a member of the Investment Committee and the Board of Managers. As President of SPR, Mr. Voorhees is responsible for all facets of property management nationwide with a focus on risk management, value creation, and due diligence pursuits. Since joining SP in 2017, the SPR portfolio has increased from 13,000 units to over 22,000 units under management, representing a portfolio value of over $4.5 billion. Additionally, Mr. Voorhees has overseen the SPR portfolio expansion into Utah, Tennessee, and the Mid-Atlantic region.

Before joining Security Properties, Mr. Voorhees served as Partner and Regional Vice President for Holland Residential in the Puget Sound region for 14 years. During his tenure, the region experienced unprecedented growth from 233 units to over 5,500 units. Prior to joining Holland Residential, he served as an Investment Manager for Pinnacle, overseeing 14 properties with a capitalization value of approximately $225 million. Before his days at Pinnacle, he served as a District Manager for Trammell Crow for Oregon and Washington. Mr. Voorhees attended Washington State University and studied Business Administration and is a managing broker in Washington State.

Tali Reiner

Executive Vice President, Property Management

Tali Reiner is responsible for the property management operations of Security Properties Residential’s 24,000 unit nationwide portfolio. In her role as Executive Vice President, Ms. Reiner contributes to the strategic vision of SPR and is responsible for the successful day to day operations of property management including oversight of key personnel decisions, company culture, revenue performance and strategic growth within target markets. Ms. Reiner has supervised a diverse portfolio spanning 14 states including lease-ups, value-add, LIHTC/HUD, senior, mixed-use and conventional housing from garden style, to mid and high-rise. With this experience, Ms. Reiner has been instrumental in helping SPR and our partners through successful lease ups, stabilization, acquisitions and dispositions.

Ms. Reiner has been active in the multifamily housing industry since 2005 and has maintained a Washington real estate broker license since 2007. She is an executive board member of the Washington Multifamily Housing Association and Housing Connector. Previously she was a member of the Washington State Housing Finance Commission Advisory Board. Through her board involvement, she has advocated in Washington, DC for thoughtful housing policy and support of vital housing programs. Ms. Reiner is a graduate of Randolph College where she received a Bachelor of Arts degree in History.
 

Laurel Zacher

Vice President, Marketing & Customer Engagement

Laurel Zacher is a multifamily marketing strategist with 25+ years’ real estate and media experience. She is responsible for casting the strategic vision for the organization’s brand, reputation, and planning investment and property management marketing programs. Her leadership in customer engagement brings a deep understanding of their needs, behaviors, and outcomes that directs how the organization engages at various touchpoints across the customer relationship to drive business outcomes. She has worked with multiple housing types, including conventional, affordable, mixed-use developments, and commercial buildings across North America. Before joining SPR, she directed the marketing teams for NMHC Top 50 and regional owners, giving her local and national insight.

Ms. Zacher holds a BS in Business Management from California State University, Long Beach. She sits on the Zillow Rentals Advisory Board and is a frequent speaker at national conferences, including NMHC OpTech, NAA Apartmentalize, Zillow Connect, and the Apartment Innovation and Marketing Conference (AIM).

Michael Nanney

Sr Director, Development

Mr. Nanney has 20 years of real estate development experience. Since joining Security Properties’ Development Company in 2012, Mr. Nanney has focused on acquiring sites for new developments, overseeing design and entitlement activities, equity capitalization, financing, construction management, commercial leasing, and dispositions. In this time he has been directly involved in eleven properties that have either delivered or are presently under construction in Seattle, Bellevue, and Portland. He is actively involved in eight developments in some phase of entitlement, permitting, or capitalization. .

After beginning his career at Jones Lang LaSalle, Mr. Nanney spent over eight years developing land and residential properties at publicly traded real estate company Forest City Enterprises. He has worked on real estate development projects in northwest cities including Seattle, Portland, and Bellevue along with other cities around the U.S. including Washington D.C., Chicago, San Juan P.R., Colorado Springs, and Honolulu..

Mr. Nanney’s educational background includes a BS degree in finance from George Mason University, the Chartered Financial Analyst designation, and an MBA from the University of Washington.

Dorian Shapiro

Sr Director, Portfolio Management

Dorian Shapiro is the Senior Director of Portfolio Management at Security Properties. Mr. Shapiro is responsible for day-to-day operations of SP’s fund management business, including assisting in the structuring, marketing, and raising of new discretionary funds. Security Properties has raised and deployed six funds, which have invested in more than 20,000 units with a cost basis over $4.5 billion.

He also manages the dispositions of SP’s Conventional, or market-rate, assets. Mr. Shapiro has over 12 years of institutional experience working as both a sponsor and an equity partner. While at Security Properties, he has asset managed a portfolio of more than 4,500 units valued over $1.25 billion as well as overseen the disposition of $2.2 billion in real estate assets.

Mr. Shapiro began his career at Alliant Capital underwriting potential acquisitions while serving as portfolio analyst on Tax Credit syndication funds. Prior to joining Security Properties in 2017, he served as Vice President, Asset Management at American Realty Advisors, where he oversaw a portfolio of over 2,000 units.

Mr. Shapiro holds a Bachelor of Business Administration from Boston University as well as a Masters of Construction Management from the University of Southern California.

Dorothy Denton

Sr Director, Tax

Our diverse portfolio of performing assets and our senior management team with an average of 28 years industry experience provide an uncommon level of multifamily expertise. That focus on multifamily housing has allowed our management team to develop outstanding skills, insights, and relationships over multiple real estate cycles.

Dorian Shapiro

Sr Director, Portfolio Management

Dorian Shapiro is the Senior Director of Portfolio Management at Security Properties. Mr. Shapiro is responsible for day-to-day operations of SP’s fund management business, including assisting in the structuring, marketing, and raising of new discretionary funds. Security Properties has raised and deployed six funds, which have invested in more than 20,000 units with a cost basis over $4.5 billion.

He also manages the dispositions of SP’s Conventional, or market-rate, assets. Mr. Shapiro has over 12 years of institutional experience working as both a sponsor and an equity partner. While at Security Properties, he has asset managed a portfolio of more than 4,500 units valued over $1.25 billion as well as overseen the disposition of $2.2 billion in real estate assets.

Mr. Shapiro began his career at Alliant Capital underwriting potential acquisitions while serving as portfolio analyst on Tax Credit syndication funds. Prior to joining Security Properties in 2017, he served as Vice President, Asset Management at American Realty Advisors, where he oversaw a portfolio of over 2,000 units.

Mr. Shapiro holds a Bachelor of Business Administration from Boston University as well as a Masters of Construction Management from the University of Southern California.

Sarah Mitchell

Sr Director, Human Resources

Sarah Mitchell is the Senior Director of Human Resources for Security Properties. She joined SP in 2018 bringing over 13 years of experience in human resources and is responsible for full-cycle human resources encompassing policies/practices, staffing, compensation, talent acquisition, benefits, performance management, employee relations, employee recognition, and health and safety, and positively impacts company growth by connecting talent capabilities with business goals. Ms. Mitchell’s team supports over 750 team members in 12 states.

Ms. Mitchell holds a Master’s in Science degree in Psychology and is accredited by both the Human Resources Certification Institute as a Professional in Human Resources and the Society for Human Resource Management as a Senior Certified Professional. Recently, Ms. Mitchell achieved certification in Inclusive Workplace Culture and in Workplace Investigations. She also leads a DE&I Task Force that seeks new ways to engage and develop diversity, equity and inclusion in our organization.