Managing Director of Security Properties Residential
Mr. Voorhees has over 23 years of experience in residential real estate management. Before joining Security Properties Residential as President and Managing Director, he served as Partner and Regional Vice President for Holland Residential in the Puget Sound region. Under his tenure, the region grew from 233 units in 2003, to 25 properties with over 5,500 units. During that time frame, Mr. Voorhees supervised the renovation of 2,700 units and a total infusion of over $18 million in capital improvements. 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 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.
Managing Director of Conventional Investments
Mr. Byrnes has 14 years of experience in commercial real estate. He oversees all market-rate acquisitions for Security Properties. He also oversees all company-wide dispositions, having sold 52 properties totaling $1.2 billion. In addition, Mr. Byrnes assists in structuring and overseeing day-to-day management of Security Properties’ multifamily funds and private offerings. Prior to joining Security Properties, he served as a Director of Investment Sales in HFF’s New York City office, where he completed over $4.0 billion of real estate transactions, spanning all major US markets and asset types for clients including Hines, ING, UBS, GE Asset Management and Bovis-Lend Lease. 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.
Bryon GongawareManaging Director of Affordable Housing
Mr. Gongaware has expertise in real estate development and investment since 2000. He is focused on executing the acquisition and development of affordable properties throughout the United States utilizing both 4% and 9% low income housing tax credits. He is responsible for leading an investment team through the entire development cycle of affordable housing: from early stage planning, managing and coordinating the pre-development and construction process with contractors and architects, sourcing complex financing, securing rent increases with regulatory agencies, property lease-up strategies and permanent financing. Mr. Gongaware’s broad skill set and knowledge include entitlement, construction management, asset management, property financing, and financial analytics. Prior to joining Security Properties in 2002, he worked on real estate transactions for a high net worth individual. He holds a Bachelor’s Degree in Business from the University of Washington, and a Certificate in Commercial Real Estate from the University of Washington.
Ed McGovernManaging Director of Capital Markets
Mr. McGovern has over 20 years of finance and real estate experience involving high rise commercial development and real estate private equity. While at Security Properties he has syndicated or raised real estate debt and equity funds from high net worth investors, institutions and family offices that contributed to the capitalization of over $1 Billion of multifamily real estate. 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 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. He holds a Bachelor's 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 Adjunct Professor for the University of Washington Runstad Master Science in Real Estate program. He was recently selected to the Corporate Board of Directors for NAIOP.
John GleasonManaging Director of Asset Management
Mr. Gleason has over 30 years of experience in managing multifamily, office, industrial, and retail real estate portfolios throughout the United States. Prior to joining Security Properties in 2006, Mr. Gleason held positions including Managing Director of Colliers International, Regional Vice President of DivcoWest, and General Manager at Trammell Crow, Spieker Properties, and Equity Office. Since joining Security Properties, Mr. Gleason has been instrumental in implementing processes and innovative analyses to better facilitate strategic decision making, risk mitigation, and investor communication. His latest initiative was the development and implementation of a proprietary business intelligence (“BI”) platform; the new BI platform allows Security Properties to illuminate opportunities to optimize operations. During his career prior to Security Properties he played a major role in the acquisition, rehab/repositioning, and disposition of 1900/01 Avenue of the Stars in Century City, which resulted in a profit of approximately $100 million in just 23 months. Mr. Gleason has personally negotiated over $500 million in commercial leases and has performed the role of construction manager for over $50 million in renovation projects. He holds a Bachelor's in Agricultural Managerial Economics from the University of California at Davis.
John MarascoChief Development Officer
Mr. Marasco has 30 years of experience developing real estate investments. Having started his career in real estate with the largest land developer in the Pacific Northwest, his particular expertise lies in land acquisition and development. 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's of Science 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. Mr. Marasco is co-chair of ULI, Seattle's workforce housing task force.
Chief Executive Officer
Mr. Dufenhorst is the Chief Executive Officer at Security Properties where he oversees a 15,000 unit apartment portfolio with assets located in 29 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 $4.2b 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 Masters in 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 and an Executive Committee Member of the USC Lusk Center for Real Estate.
Robert M. KrokowerChief Financial Officer
Mr. Krokower has 40 years of experience in real estate finance, administration and accounting. Prior to joining Security Properties in 2003, Mr. Krokower spent five years as Chief Financial Officer for Harbor Investments, 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 Donald L. Bren Fund and Bren Investments (real estate development companies). He is a graduate of California State University with an accounting degree.