The Peak Group adds Joe Ollis as principal, chairman of the board and chief investment officer
The Peak Group, a vertically integrated real estate investment company focused on single family residential properties, has hired Joe Ollis as principal, chairman of the board and chief investment officer responsible for its emergent Peak Housing REIT.
Ollis comes to PEAK after selling his previous company, SMARTCAP Inc. where he transacted more than $350 million in commercial real estate and raised more than $150 million with 400 investors. Also notable is the achievement of more than 20 percent internal rate of return across 20 investments, Peak said in a news release.
“Joe is coming on board to fulfill our mission to build the highest returning and best single-family rental housing investment vehicle on the market,” said Ryan Bowers, president and CEO of The Peak Group. “We are thrilled to have him at the helm and look forward to what’s ahead.”
Ollis’ real estate investment expertise in portfolio construction, risk management, underwriting, valuation and due diligence will drive the company’s investment and funding strategy, Peak said. He will manage the capital structure, identify and secure funding sources and develop securitization relationships.
Ollis began his career in a technical role for Microsoft, where he led teams for more 10 years across multiple successful projects. He is a graduate of the University of Oregon with a B.S. in computer science and finance, and serves on the board of Bellevue, Washington, International Ballet Theatre, a non-profit dance company.
“I believe single-family rental housing will prove to be one of the best real estate investment opportunities over the next 20 years,” Ollis said. “I am excited to join The Peak Group and help bring together an entire vertical of companies to support the execution of our single-family rental home strategy. The Peak Housing REIT is like a rocket ship, and I am excited and honored to captain its growth.”
The Peak Group is headquartered in North Richland Hills and focuses on vertical integration allowing its operating companies to control the entire stack from land acquisition to neighborhood development and vertical construction through tenant stabilization and ongoing property management, as well as title and escrow services.
Growing the portfolio through new construction, wholesale acquisitions and portfolio acquisition through the 721 Exchange, similar to the 1031 Exchange, allows investors to transfer from active to passive investment while retaining the strong benefits of investing in real estate, the news release said.