The Picerne Group has strategically assembled an accomplished team comprised of industry leaders with extensive real estate investment, development and asset management experience.
KENNETH PICERNE | Founder, President, Chairman of the Board
Prior to forming The Picerne Group, Mr. Picerne was involved in expanding his family’s company, Picerne Real Estate Group, from its New England base to the southwest and southeast U.S.. Under Mr. Picerne’s management, the family opened regional apartment development offices in Orlando and Phoenix that remain active today. Mr. Picerne also was directly responsible for the construction and development of 12,000 luxury apartment units in markets throughout Florida, Arizona, Nevada, Washington and New England. Today, the Picerne Real Estate Group is one of the largest family-owned residential real estate development groups and one of the top 10 residential multifamily developers in the nation, with more than 40,000 multifamily units and more than 2 million square feet of retail and office buildings.
Since founding The Picerne Group in 1988, Mr. Picerne has established the company’s strategic direction and led the transition from one investment model to the next, in each case responding to changing market dynamics.
In 2004, Mr. Picerne formed the Kenneth A. Picerne Foundation (www.picernefoundation.org) to support the development of innovative, creative and self-sustainable programs that focus on leadership, mentoring and education.
Mr. Picerne received his undergraduate degree from Yale University.
Throughout his career, Mr. Picerne has been recognized by the real estate community and city governments for outstanding contributions in development and design. He also has been honored for partnering with local governments to provide housing through the successful rehabilitation of distressed properties. In addition to his charitable contributions through the Kenneth A. Picerne Foundation, Mr. Picerne has served on numerous business and charitable boards.
JON DEMOREST | Executive Vice President, Legal Counsel
Jon Demorest is Executive Vice President and Legal Counsel at The Picerne Group. Mr. Demorest is involved in establishing the strategic direction of the company, evaluating investment opportunities, transaction structuring, tax planning and mitigating risk.
Prior to joining The Picerne Group in 2001, Mr. Demorest was an equity partner with Latham & Watkins, a leading international law firm. Mr. Demorest spent more than 22 years as a practicing attorney at Latham & Watkins, where he specialized in real estate and finance matters and played an active role in firm management.
Mr. Demorest received a bachelor’s degree in Economics and Political Science from the University of California, Santa Cruz and his juris doctorate from the University of California, Berkeley law school.
GREGORY G. NAKAHIRA | Executive Vice President, Real Estate Investment Division
Gregory G. Nakahira is Executive Vice President of the Real Estate Investment Division for The Picerne Group. Mr. Nakahira oversees the access and deal-sourcing team. During his 14-year tenure with The Picerne Group, Mr. Nakahira has played a significant role in the growth and development of the company’s Japanese loan portfolio and U.S. real estate assets.
Prior to joining The Picerne Group in 1999, Mr. Nakahira was with Goldman Sachs, opening its western production office for commercial mortgage-backed security lending. Mr. Nakahira also spent 10 years with Heller Financial as a leading investment officer, placing equity investments in real estate transactions in the western U.S.. During the recession of the early 1990s, Mr. Nakahira led a team of portfolio managers at Heller that was responsible for a $500 million portfolio of real estate investments.
Mr. Nakahira holds a master’s degree from Long Beach State University and a bachelor’s degree from the University of California, San Diego.
LESLIE A. COREA | Chief Operating Officer
Leslie Corea is Chief Operating Officer of The Picerne Group. Ms. Corea oversees Corporate Services, Cash Management, Accounting and Financial Reporting for the organization collaborating with Development, Construction and Asset Management groups.
Prior to joining The Picerne Group in May 2016, Ms. Corea was Senior Vice President Finance, Investment Properties Group of The Irvine Company. During her 12-year tenure at The Irvine Company she held leadership positions in Apartment Properties, Office Properties, Strategic Planning and Investment Properties Group providing corporate financial reporting oversight over all major operating divisions. Prior to The Irvine Company, Ms. Corea was Corporate Controller, Douglas Emmett Realty Advisors, a privately held Office Properties investor in West Los Angeles, for 10 years. Ms. Corea was a Senior Real Estate Audit Manager at PricewaterhouseCoopers for 10 years serving private real estate clients.
Ms. Corea is a CPA and a graduate of the University of Southern California.
CHRISTOPHER M. DAVIS | Managing Director, Southwest Division
Christopher M. Davis is Managing Director of the Southwest Division at The Picerne Group. Mr. Davis is responsible for new business operations and asset management in Denver, Las Vegas and Phoenix.
Prior to joining The Picerne Group in 2009, Mr. Davis was a Senior Vice President of Development and Acquisitions for Fairfield Residential, a leading national developer and purchaser of apartments. Mr. Davis spent seven years with Fairfield Residential and was responsible for the development of 4,500 apartment units in Denver, Las Vegas and Phoenix.
Mr. Davis received a bachelor’s degree in Economics and American Civilization from Middlebury College in Middlebury, Vermont.
JOHN COLLETTI | Vice President, Development
John Colletti is Vice President of Development for Southern California. He leads a team that is responsible for the development of multifamily properties in southern California. Mr. Colletti brings ten years of multifamily acquisition and development experience to the investment team.
Prior to joining The Picerne Group in 2015, Mr. Colletti managed the development of multifamily assets in Los Angeles, Orange and San Diego counties for Lennar Multifamily Communities. While at Lennar, he managed the acquisition and development of $500MM in multifamily investments. Prior to joining Lennar, Mr. Colletti worked as the Director of Development for NMS Properties in Santa Monica.
Mr. Colletti earned his bachelor’s degree in Finance from the Eller College of Business at the University of Arizona in 2004. He also attended the University of Westminster in London, UK for post-graduate work and is an active ULI member.
DEREK PICERNE | Vice President, Development
Derek Picerne is Vice President of Development for Southern California. He leads a team that sources and manages apartment development opportunities in southern California.
Mr. Picerne joined The Picerne Group in 2010. Prior to joining The Picerne Group he worked for Lauth Property Group in Phoenix, Arizona and at Northmarq Capital.
Mr. Picerne received his bachelor’s degree in Marketing from the W.P. Carey School of Business at Arizona State University.
HEATHER D. DERLIN | Senior Vice President, Southern California Operations
Heather D. Derlin is Senior Vice President of Southern California Operations for The Picerne Group. Ms. Derlin oversees the multifamily portfolio in California. Her responsibilities include supervising third-party management companies as well as assisting in new development and implementation of strategic asset management initiatives.
Prior to joining The Picerne Group in 2012, Ms. Derlin was the Executive Vice President of Lyon Communities, where she worked for more than 21 years. During her tenure, she supervised operations for over 30 properties nationally and was directly involved in acquisitions, dispositions, development and interior and exterior renovations.
Ms. Derlin has more than 30 years of experience in the multifamily industry. She is a graduate of California State University, Long Beach with a bachelor’s degree in Social Work.
FORREST E. NEWHALL Jr. | Senior Vice President, Finance
Forrest E. Newhall Jr. is Senior Vice President of Finance at The Picerne Group. Mr. Newhall oversees financing activities for the existing portfolio and new business. Mr. Newhall is also very active in strategic asset management, due diligence and market research.
Prior to joining The Picerne Group in 2011, Mr. Newhall was with the FDIC as an Asset Manager acting as a Director of the Board overseeing 112 active subsidiaries of failed banking institutions with a value in excess of $2.9 billion. Prior to the FDIC, Mr. Newhall was with Merrill Lynch Capital as an Investment Officer, originating and underwriting more than $1 billion in structured bridge and construction commercial loans and equity investments for the company’s western production office. Mr. Newhall also was an Acquisition & Disposition Associate with Arden Realty, a REIT with the largest Southern California commercial real estate portfolio at the time, and served as a Financial Associate in asset management with Archon Group, a subsidiary of Goldman Sachs. In that role, he was involved in the management of more than $500 million in commercial assets throughout the western U.S..
Mr. Newhall has over 15 years of commercial real estate experience. He earned a bachelor’s degree in Business Administration from the University of Southern California’s Marshall School of Business and holds a State of California Broker License. He also is a 2008 graduate of the NAIOP Young Professionals Group for Real Estate Leadership.
Diane Murphy is Senior Vice President of Corporate and Operations Accounting. Ms. Murphy provides asset management as well as operational support to the organization. She has more than 20 years of senior financial management experience in the real estate industry.
Prior to joining The Picerne Group in 2010, Ms. Murphy was Vice President, Chief Accounting Officer with Lyon Communities. During her 14-year tenure with Lyon Communities, Ms. Murphy managed a financial/operational team of 28 and oversaw relations with investors and financial reporting. Prior to Lyon, Ms. Murphy was an audit manager with Kenneth Leventhal & Company (now Ernst & Young), where she planned, performed and supervised audit and consulting engagements for clients in the public and private sectors.
Ms. Murphy is a member of the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants, among other professional associations and organizations. She is a graduate of the University of California, Irvine, where she received a bachelor’s degree in Economics.
VINCE P. HAYES | Senior Vice President, Construction Accounting
Vincent P. Hayes is Senior Vice President of Construction Accounting at The Picerne Group. Mr. Hayes is responsible for accounting and financial reporting related to the Company’s new development and reinvestment activities throughout the portfolio.
Prior to joining The Picerne Group in 2016, Mr. Hayes was a Vice President of Finance at the Irvine Company, a leading real estate development and operating company in California. During his initial 5 years with the Company Mr. Hayes was the financial Controller for the office division which comprised a 28 million square foot portfolio of the office and industrial properties. Additionally, he was involved in new office and industrial development, strategic analysis for property acquisitions, commercial land sales and tenant leases.
In his final 9 years with the Irvine Company, Mr. Hayes was responsible for overseeing the financial reporting related to over $3 billion in new development in the Company’s multifamily apartment, office, industrial, retail and resort divisions.
Mr. Hayes graduated from Indiana University in Bloomington Indiana with a Bachelor of Science degree in Finance.
Janice Richards is Senior Vice President of the Southwest Division for The Picerne Group. Ms. Richards oversees the multifamily portfolio in Nevada, Denver and Arizona. Her responsibilities include oversight of all operations, new development, and execution of asset management initiatives.
Prior to joining The Picerne Group in 2016, Ms. Richards was Regional Manager for Camden Property Trust. During her 16 year tenure, she was responsible for all operations of up to 29 communities, joint ventures, and repositions.
Ms. Richards serves on the Board of the Nevada State Apartment Association and holds the title of Past President. She has both on-site property management and senior leadership experience. Janice holds a Bachelor’s Degree from Upper Iowa University in Arts Administration and a degree in Professional Music: Associate of Applied Arts.
PHILIP KANG | Senior Vice President, Real Estate Investment Division
Philip Kang is Senior Vice President of Real Estate Investment Management at The Picerne Group. Mr. Kang oversees strategic asset management, operations, revenue management, redevelopment and is responsible for driving the portfolio’s NOI.
Prior to joining The Picerne Group in November 2016, Mr. Kang was the Vice President of Redevelopment for Essex Property Trust. During his 9 year tenure at Essex Property Trust, he identified, underwrote, and planned over $800 million dollars of redevelopment investments for the portfolio with special focus on value-add and value preservation improvements. Additionally, Mr. Kang was involved with strategic long-term and short-term asset planning for over 60,000 units with over $200 million of annual revenue generating and non-revenue generating spend. Prior to Essex Property Trust, Mr. Kang was a Senior Consultant at Computer Sciences Corporation Consulting for 5 years.
Mr. Kang has over 16 years of real estate experience. He earned a bachelor’s degree in Business Administration from the UC Berkeley Haas School of Business and a MBA from The Wharton School with focus in Real Estate and Finance. He also holds a State of California Broker License.