Denholtz Properties Names New CEO

Denholtz Properties, a Red Bank, N.J.,-based commercial real estate investment and development firm with $2 billion in assets under management, has tapped industry veteran Katie Kurtz as its new CEO.

Kurtz, most recently co-chief investment officer & chief financial officer for Silverstein Properties, will be part of the firm’s leadership team with former CEO Steven Denholtz assuming the role of chairman and current President Stephen Cassidy serving as managing partner.

In her role as CEO, Kurtz will oversee the strategic refinement of Denholtz Properties’ operational platform to capitalize on emerging commercial real estate investment opportunities nationwide.

She has more than 20 years of institutional real estate, capital markets and investment experience. At Silverstein, her responsibilities spanned the New York-based firm’s portfolio of more than $10 billion in commercial, residential and retail space as well as its development platform and lending business. Prior to joining Silverstein, Kurtz was an executive vice president at AR Global and held leadership roles with The Carlyle Group and New Mountain Finance Corp. A Certified Public Accountant, Kurtz received bachelor’s and master’s degrees in accountancy from Wake Forest University.  

Capitalizing on opportunities

Kurtz told Commercial Property Executive that Denholtz Properties has achieved notable success in growing its platform across the Northeast and Southeast in recent years.

“We believe there are significant opportunities to capitalize on this momentum by continuing to expand within both regions,” Kurtz said.

Denholtz Properties has been expanding its multifamily investments in recent years. Asked whether she expected that to continue or whether other sectors might be riper for investment in 2025 and beyond, Kurtz said diversification has been a key driver of the company’s success.

“While we actively pursue opportunities to grow out multifamily portfolio, we remain equally optimistic about other complementary asset classes, such as multi-tenant small-bay industrial,” she said.

Despite slow market conditions that have resulted in elevated capital costs and made it difficult to achieve target returns, Kurtz said the multifamily and industrial sectors have remained resilient and offer opportunities for strategic investors to act.

Kurtz noted the Federal Reserve’s 50 basis point rate cut this week “offers renewed optimism going into 2025.”

She said since the reduction was larger than anticipated, there could be an “earlier increase in buy/sell and refinance/recap activity in 2025, compared to earlier forecasts based on the previously expected 25-basis-point cut.”

Last December Denholtz Properties launched the Denholtz Opportunity Fund II aimed at offering solutions for CRE operators facing temporary capital disruptions during the unsettled capital markets environment. The fund focused on offering “rescue capital” in the firm of preferred equity or mezzanine debt, providing proceeds of $5 million and $25 million per project, subordinate only to first mortgage debt.

Kurtz said the firm continues to actively pursue rescue capital opportunities.

“Our rescue capital platform is well positioned to assist owners facing short-term financing challenges, helping them navigate the current market and emerge in a stronger position,” she told CPE.