Vesta finds success in acquiring and developing multifamily and senior housing as a result of its commitment to underserved areas and Vesta’s ability to create lasting communities. They believe strategic investment in real estate and people, paired with sound management, yields productive communities. Vesta, together with its partners and stakeholders, creates highly sought-after, desirable, quality apartment homes for residents.
Vesta has experience in the first time use of affordable housing programs. In multiple cases, they paved the way for unique deal structures in order to overcome acquisition and development challenges. Vesta is fundamentally designed to manage the acquisition, finance, development, and preservation of a wide range of multi-family opportunities. Vesta’s development experience includes mixed income; market rate; subsidized; senior housing; student housing; workforce housing; impact investment; adaptive reuse; rehabilitation/redevelopment; historic preservation; value add; and new construction.
Redeveloping a community adds value to the asset and allows residents to stay in their homes and avoid displacement. Vesta identifies assets in need, both within their current portfolio or as a new acquisition, and partners with local communities, agencies, and residents to transform the property. Vesta’s expertise and proven track record of success, in conjunction with highly skilled partners, including designers, architects and contractors, has led to the redevelopment of more than 20,000 apartment homes.
STORIES
Vesta has experience in navigating the complexities of historic redevelopments and sustaining the historical structure and characteristics that make them unique. Vesta believes the key to any historic redevelopment is gathering the right team and working with local community partners to advocate and build support and passion for the project. Meticulous analysis by this team ensures the avenues of preservation, rehabilitation, restoration, and reconstruction are thoughtfully considered for successful execution. Vesta’s expertise maximizes the use of federal, state, and local financial resources in order to ensure the many nuances of historic redevelopments are properly addressed.
STORIES
Vesta’s approach to growing its portfolio is through impact investment. Along with their strategic partner, Choice Housing Investments, Vesta has realized success with social responsibility. As long-term owners, Vesta is committed to its communities and ensures new acquisitions allow Vesta to do what they do best – add value. A sought-after partner, Vesta carefully analyzes each potential acquisition to ensure it fits in with their vision. Identifying, closing, and restoring a community that improves the quality of life for its residents, and making it a place that residents are once again proud to call home, provides the largest return.
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The growing demand for quality affordable multifamily housing offers ripe opportunities for new construction. Vesta has experience in utilizing financing programs, like the highly competitive 9% Low Income Housing Tax Credit (LIHTC) award, to complete new construction. Evaluating and incorporating state-of-the-art building concepts, technology, and sustainable building standards is at the core of Vesta’s new construction strategy. The longevity of their dedicated team, the oversight provided by their internal construction management team, and longtime design and construction partner, is their recipe to realizing success.
Historic Redevelopment
Redevelopment
Redevelopment
Arthur N. K. Greenblatt | President
As co-founder, President and CEO of Vesta Corporation, Arthur draws upon more than 40 years of affordable multifamily housing industry experience to make strategic decisions impacting the growth and longevity of the organization. As a leader of the organization, Arthur holds himself to — and expects of every Vesta team member — the embracement and embodiment of Vesta’s vision and core values. Before starting Vesta from the ground up, Arthur practiced real estate law and was the first General Counsel of the Connecticut Housing Finance Authority. In his tenure at CHFA, Arthur helped to create the Uninsured Multifamily Mortgage Program and was responsible for devising creative workouts for troubled projects.
Arthur is a trusted advisor to cities, housing authorities, and partners across the country. He has a great deal of experience working with a broad range of debt and equity sources including tax-exempt bonds, conventional and FHA mortgage programs, and Low Income Housing Tax Credits. Arthur provides great strength in problem-solving and thrives off the challenge of financing a transaction.
Under his leadership, Vesta has become a sought-after partner in the industry. Arthur has a J.D. from the University of Connecticut School of Law, and a B.S. from American International College.
Aaron Greenblatt | Managing Principal & Counsel
Aaron is In-House Counsel, with a significant area of focus on Vesta’s Acquisition and Development team. He utilizes his legal background to evaluate transaction feasibility and manage Vesta’s acquisitions, redevelopments, and the refinancing of those assets. His regular responsibilities include analyzing development feasibility, processing financing applications, negotiating with investors and lenders, and oversight of design and construction.
Aaron joined Vesta in 2017, and has successfully led a variety of projects, including membership interest transfers, the rehabilitation of existing communities, historic adaptive conversions, and multi-million-dollar casualty claims. Beyond project completion, Aaron provides oversight and quality control of Vesta’s portfolio.
Joshua Greenblatt | Managing Principal
Josh leads Vesta’s acquisition efforts, with the goal of making tactical additions to Vesta’s portfolio. He is responsible for deal identification and negotiations with sellers, as well as lining up debt and equity to execute on transactions.
Josh started at Vesta in 1998 and has been part of the company’s significant growth since. He has led numerous projects, property and membership interest acquisitions and dispositions, as well as several rehabilitations. Josh is also involved in strategic oversight of Vesta’s portfolio.
Alexandra Michaud | Assistant Vice President, Acquisitions & Development
Ally joined Vesta in 2016. She is responsible for conducting due diligence, analyzing the feasibility of potential acquisitions, and assisting with application processes for numerous finance programs including LIHTC and various state and federal funding programs. Ally has a part in each stage of a deal, including initial underwriting, submitting an LOI, and closing on acquisitions.
Ally previously worked with UBS Realty Investors in their Client Services department. She holds a B.S. in Real Estate and Urban Economics from the University of Connecticut.
Steven Rice | Assistant Vice President, Acquisitions & Development
Steve joined Vesta’s Acquisitions & Development team in 2013. He is responsible for preparing analysis and financial models to investigate the feasibility of potential deals, conducting due diligence, researching qualifications and application processes for various finance programs including LIHTC, and preparing documents required for equity and loan processing.
Before taking the role with Vesta, Steve was an Acquisitions Analyst with Corridor Ventures focusing on multifamily investments. Steve has a B.S. in Finance and a B.S. in Business Management from Arizona State University, an M.B.A. from the University of Connecticut, and a J.D. from the University of Connecticut School of Law.
Sara Leadbetter | Construction Manager
Sara joined Vesta in 2018 as Construction Manager. As the person responsible for the management of all construction and large-scale property rehabilitation, Sara is integral in maintaining relationships and communication with onsite general contractors, architects, and local governing agencies. Her work entails oversight of each project from pre-construction design and estimation, through onsite construction and resident relocation, to completion and re-occupation.
Sara’s background includes project management in residential home development and construction in Austin, Texas for David Weekley Homes, and as an Engineer Officer in the United States Army working on large-scale infrastructure projects while stationed in Germany and Kosovo. Sara earned a Chemical Engineering degree from the University of Michigan, where she was an ROTC designee.
Interested in working with Vesta on your next acquisition or development?