Downtown Railyard Venture, LLC (DRV) is an entrepreneurial real estate development and investment company. The DRV team has significant experience in the development of master-planned communities, "brownfields," adaptive reuse, mixed-use and industrial projects. DRV also has a history of successfully acquiring value-add and distressed real estate investment opportunities. DRV provides acquisition and development services, asset management, construction management and property management for all DRV development projects and investments.
DRV is based in Sacramento, CA and is operated by Larry Kelley and his son, Denton Kelley, and is owned by the DRV executive team. The DRV Venture, LLC executive team has been working together for an average of 15 years. Through years of collaboration on challenging projects and issues, the DRV team's continuity has created a highly functional platform for resolving project related issues and creating value for its investors.
Larry Kelley, who brings a vast array of experience in large-scale development, heads the LDK Ventures development team. Mr. Kelley oversaw the entitlement and development of Stanford Ranch, which included developing and implementing a long-term phasing plan flexible enough to meet the needs of a changing economic environment over several economic cycles. In addition, Mr. Kelley and his team worked with County staff to develop the vision for McClellan Park. When most business and political leaders in the region felt the base closure spelled certain economic collapse for northern Sacramento County, Mr. Kelley saw the opportunity to convert the base into a first class multi-faceted business park. This was accomplished by a combination of adaptive reuse of selected existing facilities and developing new buildings as needs required. As the vision for the project has been implemented, it has surpassed the number of jobs housed at the time of closure and will be a major economic engine for the County well into the future.
In addition to Mr. Kelley's role in Stanford Ranch and McClellan Business Park, his forty years of experience includes over 20 master planned communities in Florida, Texas, New Jersey, Maryland, Virginia, Nevada, Arizona and California.
Denton Kelley is a Managing Principal of LDK Ventures, LLC, an entity formed with his father, Larry Kelley, with a focus on value-add real estate acquisition and development opportunities in the Western Region of the US. Mr. Kelley is responsible for identifying and executing new real estate investment opportunities. Mr. Kelley is also responsible for sourcing equity capital requirements for all LDK acquisition and development projects. Mr. Kelley is currently an owner in McClellan Business Park.
Prior to joining LDK Ventures, LLC, Mr. Kelley worked as an equity research analyst at Bessent Capital (a global macro hedge fund in New York) covering financials, real estate, health care and other diversified industry sectors. Mr. Kelley worked directly with Scott Bessent, the current CIO of Soros Fund Management. Mr. Kelly spent 3 years at Robertson Stephens in the Investment Banking Division where was promoted to Associate from Analyst. The first year was dedicated to the real estate sector and he then spent the next two years banking the semiconductor and technology industries working on multiple IPO's, follow-on offerings and various other corporate finance deals. Prior to Robertson, he worked for Prentiss Properties, LLC. (an office REIT based in Dallas, TX) as an acquisition and development analyst and was also partly responsible for the asset management of the 2 million square feet office/industrial portfolio in the Southwestern US.
Mr. Kelley received his Bachelors of Science in Business Administration from the University of Colorado at Boulder. He was a scholarship athlete during his collegiate tenure on the track and field team.
Jay Heckenlively is the Executive Vice President and General Counsel for LDK Ventures, LLC and McClellan Park. Mr. Heckenlively's primary responsibilities are overseeing and managing all legal affairs, transactional documentation and environmental cleanup issues. He has over 25 years experience in the real estate industry as a transactional real estate attorney, specializing in structuring complex commercial real estate purchase and sale transactions, leasing, joint venture formation and loan transactions. With McClellan Park he was instrumental in completing the master purchase and sale transaction to acquire McClellan Air Force Base in November 2001. To date, on behalf of the venture, Mr. Heckenlively has finalized the leasing of in excess of 7,000,000 square feet of space within McClellan Park, restructured the Federal lease/sale documents for McClellan Park to allow for and closed over $500,000,000 in third party financing, and, in concert with the County of Sacramento, successfully completed negotiations with Federal (EPA) and State environmental regulators (DTSC) for the Nation's first privatized, early transfer of a military superfund parcel.
Frank Myers is the Senior Vice President of LDK Ventures, McClellan Business Park and Stanford Ranch I, LLC and is responsible for financing, financial reporting, management and controls. In addition to coordinating the various financing requirements, Mr. Myers has significant experience underwriting real estate development projects and structuring partnerships and debt facilities. Over the last ten years, Mr. Myers has arranged financing of over $1 Billion for the two companies and formed multiple community finance districts. He was responsible for underwriting and due diligence of McClellan Park and was intricately involved in development of the public financing plan component of the McClellan Base Reuse Plan. He later successfully implemented a critical component of that plan by forming the first Mello-Roos acquisition bond district on a closed military base. He subsequently led the financing efforts, which included originating and closing a working line of credit and several project loans at the Park. Mr. Myers has also been responsible for MIS systems, financial analysis, business plan development and financial reporting.
Alan Hersh is responsible for coordinating entitlement, community outreach, government relations, engineering, and infrastructure construction for LDK Ventures and McClellan Park. Mr. Hersh leads the McClellan environmental privatized clean-up team for McClellan Park. Mr. Hersh has vast experience in project acquisition, due diligence, master planning new communities, negotiation and managing complex environmental transactions, procurement of entitlements, including specific plans, Environmental Impact Reports, general plan amendments, brown-field properties, tentative maps and final subdivision map approvals. Mr. Hersh has been directly involved in negotiating multiple ESCA agreements, as well as securing federal grants at McClellan Business Park. In addition, he has overseen the planning and construction of $60MM worth of infrastructure upgrades at the park, and managed the final phases of infrastructure for Stanford Ranch, including planning and management from initial design through acceptance by the municipalities.
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