Mr. Friedman is President and CEO of Abacus Capital Group, LLC and has overall responsibility for company strategy and is a member of the Investment Committee. Mr. Friedman’s role is to provide strategic direction to ACG’s Executive Team and provide support to ACG’s investor relations and portfolio management efforts. Mr. Friedman’s prior work experience as a principal with Greystar Real Estate Advisors and DRA Advisors, Inc. has shown a proven track record in building and executing institutional investment strategies and leading teams.
Prior to forming Abacus, Mr. Friedman was President of Greystar Real Estate Advisors, LLC whereby he oversaw a $250 million separate account on behalf of a state pension fund. In less than one year, Mr. Friedman and his team (current senior management at ACG) acquired ten multifamily assets in New York and Florida, which greatly enhanced portfolio yields from 1.8% to 22.85%. In addition, the team revamped investor reporting, implemented a strategic debt program, streamlined the acquisition and asset management process and helped establish a captive property management platform to solely enhance the value of the investor’s holdings in New York City.
While employed at Greystar Real Estate Advisors, LLC (“Greystar”), Mr. Friedman was primarily responsible for the stated account performance results, and the investment strategy pursued at Greystar was materially similar to that pursued by ACG. Additionally the performance show is net-of-fees.
Prior to joining Greystar Real Estate Advisors, Mr. Friedman was a Managing Director and Principal of DRA Advisors, Inc., a New York based Pension Advisory firm from 1993-2001. While at DRA, Mr. Friedman created and built the multifamily business within the firm and acquired over $1 billion in real estate assets including 10,000 apartment homes. Mr. Friedman was also actively involved in the firm’s growth from 17 employees with $400 million under management to 51 employees, with $2.5 billion under management.
Ben earned a Bachelor of Science Degree in Economics from the University of Pennsylvania/Wharton School and an MBA degree from Columbia Business School with honors.
Mr. Lyden is Executive Vice President, Acquisitions of Abacus Capital Group, LLC. Prior to joining ACG, Mr. Lyden was a Managing Director of Greystar Real Estate Advisors, LLC overseeing the firm’s acquisition and asset management efforts. During his tenure, Mr. Lyden put in place proven acquisition and asset management processes geared towards serving the requirements of institutional investors. Mr. Lyden also established a programmatic venture with a major national multifamily developer providing GREA with the opportunity to purchase new, substantially fully leased properties on a pre-sale basis before such properties were openly marketed. This program allowed GREA the option to purchase $120 million of properties.
Prior to joining GREA, Mr. Lyden was a First Vice President with Sentinel Real Estate Corporation, an established multifamily pension fund advisory firm. Mr. Lyden was responsible for acquisition and disposition activity in the Western United States. During his tenure, Mr. Lyden acquired over 9,000 units valued at approximately $600 million on behalf of the firm’s public and private pension fund clients. Prior to joining Sentinel, Mr. Lyden was a Vice President at Integrated Resources, Inc. where he was responsible for structuring private and public investment vehicles for multifamily investors.
Greg holds a Bachelor of Science in Business Administration from Bryant College and is a Certified Public Accountant.
Mr. Ellis is a Senior Vice President for Abacus Capital Group, LLC and is responsible for asset management initiatives. Mr. Ellis helped found ACG after serving as the Director of Greystar Manhattan Management and as a Director of Greystar Real Estate Advisors from 2001- 2004. While at Greystar, Mr. Ellis built a team and implemented the leasing, management and renovation strategy for a $250 million, nine building apartment portfolio in Manhattan. During the initial holding period of these assets, Mr. Ellis’s repositioning strategy increased physical occupancies by 5% and increased individual asset revenues between 5 to 10%. This repositioning strategy included an interior renovation program, which generated returns exceeding 15% on invested capital while minimizing the unit turnover time. This effort helped to enhance the value of the assets by 20% during the first eighteen months of ownership.
Prior to joining Greystar, Mr. Ellis served as the Vice President of Asset Management for Walden Residential in Dallas, Texas from 1997 – 2001. Mr. Ellis’s duties included managing a portfolio of 20,000 apartment units in the Southeast, Arizona and California. Mr. Ellis was responsible for developing and implementing individual asset strategies, budgeting, reporting, asset repositioning and dispositions. In 1997, Walden Residential acquired Drever Partners where Mr. Ellis was a construction manager and asset manager from 1990 – 1997. Mr. Ellis’s responsibilities at Drever Partners included asset repositioning, strategy implementation, performance monitoring and fund reporting.
Mr. Ellis is a graduate of Miami University of Ohio and has a Bachelor of Science degree in Business Administration.
Mr. Aidekman joined Abacus in 2006 and is responsible for the company’s Financial Reporting & Analysis, Investor Relations, and procurement of debt and equity. Mr. Aidekman also takes an active role in the implementation of company policies and procedures particularly through the use of new technology. Additionally, Mr. Aidekman serves as Abacus’s Chief Compliance Officer.
Mr. Aidekman joined Abacus from Prime Realty Services, an owner/manager of multifamily apartments in New York City. While at Prime, Mr. Aidekman served as the Director of Accounting for a portfolio of 1,500 apartments and its vertically-integrated subsidiary companies. Mr. Aidekman was successful in directing the implementation of a new property management/accounting system and significantly streamlined the company’s accounting and reporting processes through a creatively designed Open Database structure.
Mr. Aidekman earned a Bachelor of Arts Degree in Philosophy, Politics, and Economics from the University of Pennsylvania and an MBA in Finance from NYU’s Stern School of Business.
Mr. Remillard is a Managing Director at Abacus Capital Group, LLC where he oversees acquisitions and dispositions and is a member of the Investment Committee.
Prior to joining Abacus, Mr. Remillard was involved in over $2 billion of development projects while working for companies such as Fisher Brothers, The Clarett Group and Wood Partners on both the East and West Coast. The majority of Mr. Remillard’s development experience entailed large-scale condo and multifamily rental projects in New York and Los Angeles.
Mr. Remillard is a member of the Urban Land Institute (ULI), serving on the Multifamily Platinum Product Council.
Mr. Remillard earned an A.B. in Economics from Dartmouth College and an MBA in Finance and Real Estate from Columbia Business School.
Mr. Sarno is a Managing Director for Abacus Capital Group, LLC, and is responsible for operations and asset management in the Central US based in the company’s Denver, CO office. Mr. Sarno also oversees Abacus’s ground-up development vertical including sourcing, design, construction oversight and lease-up initiatives.
Mr. Sarno joined Abacus in 2008 from Toll Brothers City Living, a luxury urban condominium developer operating in the Tri-State region. While at Toll Brothers, Mr. Sarno served as Project Manager where he managed various mixed-use conversion and new-development projects. Prior to Toll Brothers, Mr. Sarno was a Project Manager for ValCon Construction Advisors where he performed Owner’s Representative and Lender’s Representative functions on a multitude of new construction projects ranging from Condominium, to Office, to Multi-family. Mr. Sarno also performed acquisition due-diligence functions for clients including physical property inspections, budgeting and forecasting for properties nationwide.
Mr. Sarno earned a Bachelor of Arts Degree in Architecture and a Bachelor of Science Degree in Civil Engineering from Lehigh University and a Master of Science Degree in Real Estate from New York University.