Hovde Properties
Property Management / Development / Brokerage / Consulting
Company Information
Company History
Hovde Properties is a family-owned business that has been purchasing, developing, and managing real estate for three generations. Ingvald Hovde entered the real estate business at the bottom of the Great Depression when he purchased Ross M. Cohen Real Estate in 1933 and changed the name to I. Hovde Realty, Inc. Two of his sons, Donald and Russell joined him in the 1950’s. Russell left the firm after a short time, but Don stayed and became president of the business in 1960.
Don purchased the Wisconsin Power & Light building in 1970, renaming it the Hovde Building. In 1973, the "I" was dropped and the business continued to operate under the name Hovde Realty, Inc. In 1974, Hovde Realty purchased the Gay Building at 16 North Carroll Street (the first true high-rise on the Square and constructed in 1915) and renamed it the Churchill Building.
Don was elected President of the National Association of Realtors in Washington D.C. in 1979. As a result of this election, Hovde Realty reorganized and Don's eldest son Steven became President of the company. Later, in 1981, Don was recruited by the Reagan Administration to be Undersecretary of Housing and Urban Development, where he served with distinction from 1981 to 1983. During his time living in the Washington, D.C. area, Don kept his Wisconsin real estate brokers license current. After his years of public service he returned to Hovde Realty, going on to develop, among other things, the Richmond Hill neighborhood on Madison's near east side.
Hovde Realty developed over 3,000 residential and commercial acres and assembled and annexed approximately 1,500 acres into the City of Madison. Hovde also purchased and renovated downtown Madison properties, including the Hovde Building and the Churchill Building. In 2009 the company's name was changed to Hovde Properties to better reflect the full range of real estate services provided, which include real estate development, property management, brokerage and consulting. Currently, Hovde Properties has significant real estate holdings in the Madison market and brothers Steve D. Hovde and Eric D. Hovde remain actively engaged in the company’s operations as members of its board of directors.
Other Hovde Companies
In addition to Hovde Properties, the Hovde family of companies includes: Hovde Financial, Inc., a full-service investment banking firm; Hovde Securities LLC, Hovde Financial's affiliated securities broker/dealer; Hovde Capital Advisors LLC, an asset management firm; and Hovde Private Equity Advisors LLC, a private equity firm. Founded in 1987 and possessing a distinguished industry heritage, Hovde draws from the many years of experience and comprehensive expertise of its team members in financial services to develop innovative and value-added solutions for its clients.
Hovde has regional offices in major areas of the United States and services the needs of financial services institutions, institutional investors, and private clients both domestically and internationally. Our knowledge-driven, client-focused, and entrepreneurial culture has enabled us to consistently rank as a leader in the financial services industry.
Our Team
ERIC D. HOVDE
- CHIEF EXECUTIVE OFFICER
As the Chief Executive Officer of Hovde Properties LLC, a third generation family company that purchases, develops and manages real estate in the southern Wisconsin area, Mr. Hovde oversees the management of this company and also serves on its Board of Directors. Mr. Hovde has decades of experience in real estate investing and management. In the late 1980s and early 1990s, Mr. Hovde built a real estate workout group that managed problem loans and real estate assets for the banking and thrift industry. Further, he advised purchasers of problem assets from the Resolution Trust Corporation (RTC) during the savings and loan crisis of the 1980s.
Additionally, Mr. Hovde is the President and Chief Executive Officer of Hovde Capital Advisors LLC, an asset management firm, and of Hovde Private Equity Advisors LLC, a private equity firm. Both firms are focused exclusively on the financial services sector. Mr. Hovde is responsible for the investment strategy for funds managed by Hovde Capital Advisors LLC and, along with the portfolio manager, directs Hovde Private Equity Advisor’s investment process and provides oversight to portfolio companies for the firm’s private equity fund. In these capacities, Mr. Hovde provides the investment teams with strategic direction and guidance in their investment decisions. Prior to the formation of the private equity fund, Mr. Hovde led the firm’s affiliated merchant banking activities, using the firm’s proprietary capital to acquire ten controlling interests in community banks, thrifts and other nonbank financial services companies. Prior to Hovde Capital and Hovde Private Equity, he was a founder of Hovde Financial, a business which he established and developed into a top-tier investment bank in the bank and thrift industry.
Mr. Hovde has also served as a director on numerous community bank and thrift boards and currently is a controlling shareholder and serves as the Chairman of Sunwest Bank in California, and is a controlling shareholder and serves on the board of directors of Bay Bank, FSB in Maryland. Additionally, Mr. Hovde is a significant shareholder and board member for ePlus, inc., a leading value-added reseller and lessor of technology products and services.
Mr. Hovde's career has provided him with an expertise in the financial services industry and the investment management areas and, as such, he has been featured on numerous occasions on financial television programs and in national print media publications—including CNBC, Bloomberg TV, and The Wall Street Journal. His familiarity and understanding of the interplay between the economy and the financial and real estate markets has provided him with a knowledgeable perspective, enabling him to act in multiple capacities – that of an executive, an industry commentator, and a financial industry expert.
Charity is a strong belief for Mr. Hovde. Mr. Hovde, along with his brother, Steven, created and funded the Hovde Foundation, an organization that actively supports two central missions - clinical research to find a cure for Multiple Sclerosis and charitable relief for those in desperate need. Mr. Hovde has actively participated in and funded relief programs in Africa, South America, Latin America and the United States. Further, he started and finances the Hovde Houses, which are homes that provide shelter, supportive services, education and love to vulnerable street children. The Hovde Foundation has established Hovde Houses in: Mexico City, Mexico; Huanuco, Peru; Winneba, Ghana; Kigali, Rwanda; Mombasa, Kenya; and La Paz, Bolivia. Mr. Hovde has also established a homeless shelter for children and their parents complete with case work managers and job training, in his hometown of Madison, Wisconsin.
Mr. Hovde earned his degrees in Economics and International Relations at the University of Wisconsin - Madison. He resides in Madison, Wisconsin and is married and has two children.
STEVEN D. HOVDE
- CHAIRMAN
Mr. Steven Hovde is the Chairman of Hovde Properties and also serves on its Board of Directors. Additionally, Mr. Hovde is President and CEO of Hovde Financial, where he is responsible for managing investment banking activities, the strategic development of mergers and acquisitions of bank and thrift institutions, and private equity activities. In this role, Mr. Hovde has negotiated transactions in excess of several billion dollars in deal value and provides the firm's investment bankers with technical and strategic advice on client transactions.
Mr. Hovde also serves as President and CEO of Hovde Financial's affiliated securities broker/dealer, Hovde Securities LLC. In this capacity, he has been involved in the conversion to stock form of mutual thrift institutions and private placements of equity and trust preferred securities.
Before co-founding Hovde Financial in 1987, Mr. Hovde was Regional General Counsel and Vice President of a national commercial real estate development firm, Vantage Companies. Previous to that, Mr. Hovde served as an attorney, specializing in real estate law, with a 200-member law firm based in Chicago, Rudnick & Wolfe, now known as DLA Piper. Prior to that, Mr. Hovde practiced accounting in Chicago as a Certified Public Accountant with one of the former “Big Eight” public accounting firms, Touche Ross LLP, currently Deloitte & Touche LLP.
Mr. Hovde is on the board of directors of a $1.4 billion-asset community bank and serves as a trustee of several charitable foundations.
Mr. Hovde graduated summa cum laude with a Bachelor of Business Administration degree, majoring in Accounting, from the School of Business at the University of Wisconsin, Madison. He also earned his law degree, cum laude, at Northwestern University in Chicago, Illinois. Mr. Hovde is married with four children and resides in Barrington, IL.
MIKE SLAVISH
- PRESIDENT
Mike joined Hovde Properties in June 2008 as its President. He oversees
Hovde's current real estate portfolio and is responsible for identifying
new development opportunities. For Mike, family-owned businesses are
familiar territory. Prior to joining Hovde, Mike spent 11 years as the
Director of Real Estate and Portfolio Manager for the Hendricks Development
Group (HDG), which is based in Beloit, Wisconsin and owned by Diane and
the late Ken Hendricks. HDG provides full-service acquisition, lease
negotiation and development services for Beloit-based ABC Supply Company,
Inc., with 390 locations nationwide. HDG was instrumental in
the successful completion of numerous brownfield and community redevelopment
initiatives. These projects included industrial warehousing and
manufacturing, commercial offices, retail and a variety of residential
developments. Under Mike's direction, the HDG real estate portfolio grew
from $75M to $510M.
Mike received two Bachelor's degrees: a BA in Liberal Arts and Physics from Augustana College in Rock Island, IL and a BS in Civil Engineering from University of Illinois in Champaign. He received his MBA with a concentration in Finance and Management from University of Houston and is a licensed Real Estate Salesperson and a registered Professional Engineer in the State of Wisconsin.
JANINE
PUNZEL -
VICE PRESIDENT
Janine joined Hovde Properties in March 2000. She is responsible for
real estate brokerage, leasing and marketing activities, and oversees
financial and human resource management. She has a BBA in Real Estate
and Urban Land Economics from the University of Wisconsin-Madison,
is a Wisconsin licensed Real Estate Broker, and is pursuing a Certified
Commercial Investment Member (CCIM) designation. Janine is a member
of the Wisconsin Real Estate Alumni Association, Commercial Brokers
Group, Inc., and the Wisconsin Realtors Association. She currently
serves on Downtown Madison Inc.'s Board of Directors, Economic Development
Committee, and Transportation & Parking Committee. Janine's previous
work experience includes 10 years of service in the U.S. Marine Corps
and 5 years with American Family Insurance, in analyst positions, in
its Corporate Real Estate and Internal Audit Departments.
CHERYL FROHMADER, RPA, FMA – PROPERTY MANAGER
Cheryl joined Hovde Properties in May 2009 to assist with consulting projects, and shortly thereafter her responsibilities grew to include managing the property management operations. She has over 15 years experience in commercial property management, earning the designations of Real Property Administrator (RPA) and Facilities Management Administrator (FMA) from the Building Owners and Managers Institute. Prior to joining Hovde Properties, Cheryl worked for The Blettner Group in Middleton, Wisconsin from 1994 through 2008. As Vice President-Property Management, she oversaw all property management operations and had direct involvement with capital improvement projects and accounting functions.
KERMIT BERGS, P. E. - BUILDING OPERATIONS & CONSTRUCTION MANAGER
BOB SPENCER - MAINTENANCE TECHNICIAN
Bob joined our team in May of 2008 as our Maintenance Technician.
For the last six years he owned and operated his own bakery business
in Edgerton WI. Bob also has a background in construction and has
been involved with the erection of steel buildings from start to finish.
He has electrical and plumbing repair experience along with an understanding
of general building maintenance. Bob looks forward to using all of
his skills and learning new ones to help provide great customer service
to all of our valued tenants. He holds a Real Estate salesperson's
license and he plans to obtain his brokers license in the near future.
CRYSTAL MOLITOR - PROPERTY COORDINATOR / BOOKKEEPER
Crystal re-joined Hovde's team in February 2009 as our Property Coordinator
/ Bookkeeper. She previously worked for Hovde as a part-time office
assistant, beginning August 2002, and continued to work for Hovde on
a part-time basis through October 2006. During that time, Crystal was
also employed as an Assistant Manager with Family Video. Immediately
prior to returning to Hovde in 2009, Crystal was employed by Fleming
Development, where she was hired as the Administrative Assistant in
October of 2006, and was soon promoted to Property Bookkeeper. Crystal
is attending MATC on a part-time basis and is pursuing an Associate
Degree in Accounting.
VICTOR VILLACREZ - COMMERCIAL REAL ESTATE ASSOCIATE
Vic joined Hovde Properties in June 2010. His focus is on commercial real estate sales and leasing, consulting on development deals and new business. He has a BS in psychology from the University of Wisconsin-Madison and a MBA from Cardinal Stritch University. Vic is a member of the City of Madison’s Housing Committee, and has served on the boards of Downtown Madison Inc., the Greater Madison Convention and Visitors Bureau and Centro Hispano. He is a licensed real estate salesperson and a member of the Wisconsin Realtors Association. Vic also serves as a commissioner for the Boy Scouts of America and is the Chair of the Madison Cuzco Sister City Project.
Before joining Hovde Properties, Vic spent 2 years as an analyst with the State of Wisconsin. His responsibilities included selling surplus property, leasing space, and managing various RFPs. Vic has worked as a consultant for several development firms in Madison, has brokered over $15,000,000 in real estate sales and has invested in and manages a portfolio of residential income properties in Madison.
Hovde Foundation
The Eric D. and Steven D. Hovde Foundation was founded in 1998 with two principal objectives: to assist the neglected, abused and vulnerable children of the world, and to fund research towards a cure for Multiple Sclerosis (MS). Its current focus is centered on the former. Eric's extensive travels in developing countries alerted him to a population in desperate need of assistance. This group, the homeless children of the world, live without consistent shelter, nutrition and the general securities of a family home. Eric and his brother Steve were determined to make a difference in the lives of some of the world's most vulnerable children. After considerable research and with the guidance of World Vision, they selected Mexico City as the site of the first Hovde House, a home that would go on to provide transitional housing and supportive services to 50 homeless children.
Today, the Hovde Foundation has two operating Hovde Houses in Latin America and three in development in Africa. The goal is to build twenty Hovde Houses over the next twenty years, adhering to the following philosophies: applying the leverage and business approach to philanthropy; active social investing; and selection of suitable partners/locations.
>> HOVDE PROPERTIES
122 West Washington Ave., Suite 101 Madison, WI 53703
Ph:
(608) 255-5175 | Fax: (608) 255-6196 |