Andover Properties Expands Acquisitions Team
Andover Properties, which operates self-storage facilities throughout the United States, has recently expanded its acquisitions team with the addition of two new hires.
Eric Brett joined Andover as a Senior Analyst, in which capacity he helps identify and analyze potential acquisition opportunities and conducts due diligence. Prior to joining Andover, Eric spent two years working on the WeWork real estate team in NYC. During this time, he focused on both the sourcing and underwriting of new coworking locations throughout 15+ markets in the United States and Canada, closing deals totaling 1.3M SF and $1.0B in aggregate lease value. Eric graduated in 2015 with honors from the Smeal College of Business at Penn State University where he majored in Finance.
Andover has also hired Tianzhi Lei (TZ) as an Analyst. His duties also encompass acquisition underwriting and due diligence. Prior to joining Andover, TZ worked on multifamily and hotel development at Eastone Equities, a New York based opportunistic real estate fund, and on bridge loan origination at Silvan Group, and open-ended US real estate lending fund. Lei graduated from the University of Southern California with a bachelor’s degree of Business Administration and from Columbia University with a Master of Real Estate Development.
“We’re very excited to welcome Eric and TZ aboard,” said Michael Wachsman, Director of Acquisitions at Andover. “Their skill sets really rounds out our team and provides us with greater rigor in our deal analysis as well as enables us to tackle a greater volume of acquisitions.” Adds Brian Cohen, Andover’s President, “We’ve really needed these hires in light of the partnerships we’ve entered, the strong institutional interest in our platform, and our goal of building a truly national brand, which we are in the process of doing.”
Established in 2003, New-York based Andover acquires, develops and manages industrial, retail, car washes and self-storage facilities. The firm currently owns and manages self-storage facilities in 13 states, comprising over 3 million square feet across 22,300 units.