Overview

We are a performance driven company that leverages the collective experience, entrepreneurial spirit, and execution capabilities of our people to create long-term value for our partners, employees, and the communities in which we operate.
Purpose
  • To be a best-in-class organization that is most admired for its people, performance, and professionalism.
Mission
  • Attract, develop and retain highly motivated people with integrity, aptitude, and the desire to make meaningful contributions in a team environment.

 

  • Generate superior risk-adjusted investment returns.

 

  • Inspire the confidence and loyalty of our investors.
Values
  • Building long-term partner relationships based on transparency, mutual trust, and respect.

 

  • The safety, health, and work-life balance of our people.

 

  • Treating investors as true partners, and their money as if it were our own.

 

  • Fostering a culture of optimism, opportunity, teamwork and resourcefulness for our people where everyone can make a difference.

 

  • Conducting our corporate activities with the highest ethical and professional standards.

 

  • Innovation in the fields of property search, marketing, and management.

 

  • Being known for consistently doing the little things and the big things, well.
At Chatham Bay our core focus is converting or repositioning underutilized properties into high quality assets, in high barrier-to-entry markets, at a stabilized cost basis well below their competitive set.

 

Our theory on adding value is simple: we believe adding value in real estate is about superior deal identification & execution skills and not just about cap rate compression and access to inexpensive debt. Our approach to adding value is driven by the following philosophy:

Be Disciplined

We pay little attention to newfangled trends in the real estate industry. Fundamentals of supply & demand, the existence of a compelling competitive advantage, and our assessment of our ability to execute are the paramount factors in project selection. Our ability to underwrite the underlying collateral value prior to investment is fundamental to our success.

 

We seek to identify opportunities and inefficiencies within a given real estate market through an extensive network of real estate professionals, property owners, and municipal officials. Once a potential opportunity is identified, our team will begin a rigorous and systematic analysis of demographic trends, supply/demand fundamentals, and the competitive set in an effort to identify a clear and compelling competitive advantage. Once identified, we will design a value enhancement program to acquire, redevelop, stabilize, and refinance out initial investor equity. We rely on the expertise of our in-house management and operating affiliates for hands-on execution from inception to completion.

Mitigate Risk

Whenever possible, obtain attractive third-party contributions such as historic tax credits, New Market Tax Credits, governmental programs such as TIFFs, TADs, CDDs, and seller financings to further reduce cost basis and to enable an asset to be the low-cost provider of space in its given market.

 

Mitigate risk through phasing, pre-selling, pre-leasing, and re-tenanting
Create dual liquidity options of recapitalization and disposition upon stabilization.

Create Value at Every Stage

Target disinterested sellers & markets with high barriers-to-competition.

 

Acquire at a discount to the competitive set.

 

Add value through entitlements & assemblage.

 

Create income streams rather than acquiring them.

Our Principals

Patrick Duffy

FOUNDER & CEO

Mr. Duffy founded The Chatham Bay Group in 2006. As CEO he leads the company’s general investment initiatives and provides strategic direction.

MORE

 

Prior to founding Chatham Bay in 2006, Mr. Duffy worked in the development group at Pennsylvania Real Estate Investment Trust (PREIT), a NYSE-listed equity REIT in Philadelphia from 2001 to 2006. In that capacity Mr. Duffy was responsible for market and site selection, and managing all aspects of the retail development process from acquisition to turnover. While at PREIT, Mr. Duffy worked on over $2.7 billion worth of real estate transactions, including the $2.1 billion portfolio acquisition of Crown America Realty Trust, the disposition of a $400 million multifamily portfolio, and the entitlement and ground-up development of several hybrid shopping centers. Mr. Duffy has over 15 years of professional real estate experience.

 

Mr. Duffy also serves as CEO of American Residential, a joint venture with Dr. Peter Linneman’s KL Realty Fund, which was formed in 2012 to deploy institutional capital into the single family real estate (SFR) space throughout the United States. The company has acquired over $55,000,000 worth of single family assets since inception.

 

Mr. Duffy earned his B.S. from the University of Delaware and has completed post-graduate course work at the Wharton School at the University of Pennsylvania.

 

Memberships/Affiliations:

 

–  Young Presidents Organization (YPO)

 

–  Urban Land Institute (ULI)

 

–  Wharton Zell/Lurie Real Estate Center

 

Mr. Duffy, along with his father Pat Duffy Sr., is a proud Co-Founder and Chairman of the Chatham Bay Foundation (www.chathambay.org).

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Jay Freebery

Principal

Mr. Freebery has been with Chatham Bay since the company’s inception in 2006. He shares responsibility for sourcing transactions and oversees…

MORE

 

construction management, maintaining a leadership role in each project from inception to completion.

 

Prior to joining Chatham Bay in 2006, Mr. Freebery served as the Director of Asset Management for Brandywine Realty Management, a residential investment and property management firm, from 2003 to 2006. In this capacity, Mr. Freebery was responsible for managing all leasing and capital improvements on Brandywine’s 450 plus unit single family portfolio. Prior to joining Brandywine Realty Management, Mr. Freebery was a manager in the Land Use and Code Enforcement Departments of New Castle County from 2000 to 2002, where he managed a team of building inspectors and oversaw the approval of over $1 billion, in commercial projects, as well as the construction of over $250 million of real estate projects. Mr. Freebery has over 15 years of professional real estate experience.

 

Mr. Freebery earned his B.A. from the University of Tampa and his M.B.A. from Wilmington University. Mr. Freebery is a licensed real estate broker in Delaware, Pennsylvania, and Maryland.

 

Mr. Freebery is also a Director of The Chatham Bay Foundation (www.chathambay.org)

Wynn S. Housel

CFO

Mr. Housel has more than 20 years of corporate finance experience as an executive and advisor to both U.S. and international companies. As CFO, he oversees Chatham Bay’s finance & accounting functions, plays a leadership role in capital raising activities and assists with transaction sourcing and execution.

MORE

 

 

Prior to Chatham Bay, Mr. Housel worked as a strategic and financial advisor with such firms as Evercore, Lazard Freres and Credit Suisse First Boston, based in New York and London. Over his career he has advised on over $20 billion in M&A, restructuring and debt & equity financing transactions across a range of industries.

 

Mr. Housel earned his B.S., summa cum laude, in Business Administration from the University of Richmond and his M.B.A., with honors, from The Wharton School at the University of Pennsylvania. Mr. Housel is also a Chartered Financial Analyst®.

 

Thank you for your interest in Chatham Bay.
We’re looking forward to working with you.