Who We Are
CoveredBridge Ventures (“CBV”) is a real estate investment and advisory firm specializing in providing tailored real estate solutions as both a principal and an advisor.
As a principal, CBV seeks to acquire underperforming and distressed transitional assets with an investment thesis that focuses on achieving a stabilized cost basis that represents a significant discount to an asset’s competitive set. Post-acquisition, CBV creates value through physical repositioning, redevelopment and active asset management. By taking a hands-on approach to optimizing assets and their income streams, CBV is able to capitalize on and profit from opportunities in all market cycles. The principals of CBV have successfully led real estate investments representing total cost in excess of $5B.
As an advisor, CBV works with owners of assets to both maximize the value of their holdings and achieve their strategic objectives. In particular, CBV has unique expertise in advising private equity funds as to the real estate holdings of their portfolio companies, including sale/leaseback and OpCo/PropCo structures. CBV also serves as an outsource solution for the underwriting and acquisition of real estate assets on a one-off basis, as portfolios or as assets embedded in operating businesses.
P.J. Yeatman Bio
- P.J. Yeatman founded CoveredBridge Ventures in 2011 and has 24 years of principal investing experience focused primarily on non-core, special situation investment opportunities in real estate.
- Prior to returning to CoveredBridge Ventures, Mr. Yeatman served as the Head of Private Real Estate for CenterSquare Investment Management. In this capacity, Mr. Yeatman was responsible for all aspects of a $2B private equity business that consisted of both discretionary commingled funds and separate accounts. Mr. Yeatman served as the Chair of the Private Equity Investment Committee for CenterSquare, and he exercised final say over all investment decisions.
- Prior to founding CoveredBridge Ventures, Mr. Yeatman was the Senior Managing Principal with the Lubert-Adler Real Estate Opportunity Funds, where his responsibilities included sourcing, structuring and execution of new investments, management/oversight of portfolio assets, capital raising, investor relations and firm administration. Past investments include Central Parking Corp., Mervyn's, Service Merchandise and Polartec. In the aggregate, Mr. Yeatman has acquired, financed, executed and restructured in excess of 50 investments representing $5bn of total cost and $750mm of equity invested.
- In addition to his various roles at Lubert-Adler, Mr. Yeatman began his career as an opportunistic real estate operator/developer in the early 1990's. In this capacity, he was actively engaged in acquiring and resolving distressed debt portfolios from the FDIC and RTC, as well as one off value add opportunities.
Named one of 20 Rising Stars globally by Private Equity Real Estate in 2007
- Guest Speaker/Lecturer at Wharton, ICSC, ULI, CRE and published author in the Journal of Real Estate Economics
- Previously served on the boards of both Central Parking Corporation and Mervyn’s
- Babson College, BS in Economics and Marketing (1992)
- Massachusetts Institute of Technology, MS in Real Estate (1999)
Kimberly Kupka Bio
- Kim Kupka is responsible for executing the day-to-day activities of CoveredBridge’s real estate investments and consulting engagements. Ms. Kupka’s strength lies in providing transactional project management and closing execution for CBV’s investments, including handling all aspects of CBV’s acquisitions, due diligence, and property sales. Ms. Kupka also oversees execution of asset management business plans and manages real estate operations post-closing.
- As part of CoveredBridge’s advisory business, Ms. Kupka provides seasoned, executional leverage to clients by assisting them in due diligence and execution of new transactions, as well as providing project and asset management to investment teams. As a former real estate attorney, Ms. Kupka provides interdisciplinary analysis and evaluation of a transaction and can interface directly with external counsel to streamline and enhance deal negotiation, diligence and documentation.
- Prior to joining CoveredBridge in 2011, Ms. Kupka was a commercial real estate attorney at Klehr Harrison, with a focus on advising private equity firms on real estate matters. Ms. Kupka’s primary emphasis was on real estate related M&A work, portfolio transactions and sale leasebacks. Ms. Kupka has overseen the acquisition, disposition and management of more than 1,800 properties and has negotiated sale leaseback transactions involving more than 300 properties, including 15 manufacturing assets. Ms. Kupka has managed transactions involving a wide variety of assets, including retail, restaurant, parking, convenience store and gas station, office, warehousing and industrial.
- Temple University School of Law, JD (2006)
- Temple University, BA in Journalism/Public Relations (2001)
Michael Haass Bio
- Michael Haass has extensive execution experience in a variety of property and transaction types, including investments in core, value-add, distressed assets and new construction. Prior to joining CoveredBridge Ventures, Mr. Haass was the Vice President at Capital Health Group, where he was in charge of underwriting all new senior housing investments, performed asset management for existing deals, helped structure debt and equity financings, and reviewed architectural and construction plans for new developments and renovations. While at CHG, Mr. Haass completed 10 new acquisitions, 5 refinancings, an $80mm buyout of an investor group, and an entity-level equity raise of $125mm. As an analyst at Urdang Capital Management, he also provided asset management and dispositions support on a 40-asset portfolio consisting of office, multifamily, retail, industrial, and hospitality space.
- Awarded the Richard Frost Award in 2007 from the Wharton School at the Zell-Lurie Real Estate Conference.
- The Wharton School, University of Pennsylvania, BS in Economics with concentrations in Finance, Real Estate, and Entrepreneurship