Middleburg Communities Hires TJ Sedeski for Multifamily, SFR Investment
By Keith Loria August 18, 2021 1:34 pm
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Middleburg Communities, a property management company based in Vienna, Va., has added TJ Sedeski as assistant vice president of investments. He is charged with managing the investment process for the firm’s growing multifamily and single-family rental development program.
Previously, Sedeski worked in various positions at Grosvenor Americas. As development manager in the Washington, D.C., market, he managed all aspects of the development process, such as acquisition, design, entitlement and permitting, financing, construction and asset management, according to a prepared statement.
He also worked on Grosvenor’s structured development finance team in San Francisco, and focused on a portfolio of secondary financing for third-party development projects, per the statement.
Sedeski spoke with Commercial Observer about his new role and plans for the year ahead.
Commercial Observer: Congrats on the new role. What interested you about joining Middleburg Communities?
TJ Sedeski: There are several compelling factors about the organization and its role. First, the development program, because of its team composition, is set up for high volume production of an asset class that is in particularly high demand among investors, lenders and consumers alike. The business model is reasoned and focused, and that clarity of goals and parameters enables the team to take quick and decisive action towards growing the business. Second, the role provides a unique opportunity for me to combine my financial transactions experience with my development management experience.
What will be your responsibilities in the new job?
I will be heavily involved in guiding the investment process for Middleburg’s growing multifamily and single-family rental development program, and will be responsible for closing equity and debt financing transactions for each development project.
Discuss some of your initial goals and what you hope to accomplish.
The team had secured a considerable pipeline of projects and established many great practices prior to my arrival. My near-term goal is to close financings for several projects that will be ready to start construction during the next six months.
How have your past experiences prepared you for this position?
I started my career at Clark Enterprises Inc. (in Bethesda, Md.), where I was fortunate to have worked on many real estate transactions across nearly every asset class, including ground-up development. I, then, transitioned to Grosvenor, where I spent time on the structured development finance team and the development team, both of which focus on residential projects.
How would you characterize the multifamily sector as we head into the fall?
For owners and lenders, multifamily remains an attractive investment relative to other real estate asset classes, particularly in the Southeast U.S. markets where Middleburg is investing.
What is the firm’s strategy when it comes to multifamily investment in the year ahead?
Currently, we have a dozen properties under contract that we are taking through entitlement, designing and permitting. Our goal over the next year is to close on those acquisitions alongside our various equity partners and start construction. Meanwhile, we’re actively negotiating offers on nearly two dozen other properties and constantly sourcing more opportunities to grow our pipeline well beyond just the next year.
What are you looking forward to most in the new position?
Our medium/long-term goal is to become one of the best operators, if not the best operator, in the Southeast region. It is an ambitious goal, no doubt, but it is an attitude that resonated with me and makes me excited to take on this new role.
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
Keith Loria can be reached at kloria@commercialobserver.com.
