Craig A. Spencer
Mr. Spencer is the Chairman & CEO of Arden Group, established in 1989 as a fully integrated real estate company focusing on acquiring, developing and managing high quality real estate assets. The company has purchased and developed more than $3.5B of real estate including office buildings, hotels and high‐rise mixed‐use residential. Arden’s asset management group has managed more than $5.5B in assets. Mr. Spencer is the Principal of Arden Fund Management which operates Arden’s discretionary real estate equity and debt funds.
In addition to leading Arden, Craig has participated in several non‐real estate ventures including the acquisition and subsequent sale of Admiralty Bank to Royal Bank of Canada in February 2003. He was also a founding board member of Anchor Commercial Bank based in Palm Beach, Florida. Craig was Founder/Co‐Owner with Jon Bon Jovi of the Philadelphia Soul Arena Football Team. In its five-year history, Craig helped build it into the most successful team in the league and the 2008 World
Champions. Craig and Jon also established and are the Co‐Chairmen of the JBJ Soul Charitable Foundation, which has provided 600 housing units along with educational programs to homeless men and women. The Foundation opened Soul Kitchens in Red Bank, NJ in 2011 and Toms River, NJ in 2016 with over 60,000 meals served to date.
Mr. Spencer earned a B.A. in Finance from the University of South Florida and a J.D. from Georgia State University College of Law. Craig is a licensed attorney who specialized in real estate, banking and bankruptcy law. He is a frequent guest lecturer at the Zell/Lurie Real Estate Center at The Wharton School of the University of Pennsylvania.
Dr. Gerrity has been an investment partner with Arden Group for the past 18 years and is Co-General Partner of Arden Fund I and II. He served as the 11th Dean of the Wharton School from 1990-1999. Prior to his tenure at Wharton, Dr. Gerrity was the founder and CEO for 20 years of the Index Group, a highly recognized leader in business re-engineering and strategic consulting. He serves on the Board of Directors of two public companies and previously served on the boards of the Massachusetts Institute of Technology (MIT) and several technology leaders’ LP Funds. Dr. Gerrity earned B.S. and M.S. degrees in electrical engineering and computer sciences from MIT and a Ph.D. in Management from the Sloan School at MIT. He was also a Rhodes Scholar in Economics at Oxford University.
Mr. Caruso has been a member of the Arden Group team since 1996 and has 20 years of real estate accounting experience. He oversees financial management, including leading the in-house financial due diligence team for all acquisitions and post closing, and the team responsible for all financial, tax, and investor reporting. Mr. Caruso earned a B.S. in Accounting from St. Joseph’s University.
Mr. Pietropoli has been with Arden Group since 1995 and has 29 years of hotel and office building operations and construction experience. He leads the operational due diligence team for all acquisitions and post closing, and oversees the ongoing property management and operations of all assets. Prior to joining Arden Group, Mr. Pietropoli worked with Servico Hotel Company and Ritz-Carlton Hotel Corporation. He earned an A.B.A. from Penn State University.
Mr. Jennings joined Arden Group in 2016 and has 17 years of real estate industry experience. Since 2001, he has been an active real estate investor in the New York City market. On behalf of Murray Hill Properties and a series of private real estate partnerships, Mr. Jennings has acquired, repositioned, and sold 11 million square feet of commercial real estate with an $8 billion valuation. He has engaged in all facets of the real estate industry with a particular emphasis on sourcing and structuring new investment opportunities and developing value-enhancing strategic asset management strategies. Mr. Jennings earned a B.A. in Economics from Boston College.
Mr. Bardel has been with Arden Group since 2012 and has over 30 years of hotel acquisition and operational experience. He leads the Arden Group hotel acquisition team and, post closing, heads the hotel asset management team. Prior to joining Arden Group, Mr. Bardel spent almost 30 years in senior level executive roles with one of Arden Group’s long time joint venture partners, The Continental Companies, which was the second largest hotel development and management company in the nation.
Douglas P. Harmon
Douglas joined Arden Group in 2016 to head its debt origination’s effort. He has 25 years of real estate lending, origination, syndication, and capital markets experience. Douglas has had senior debt origination and syndication roles at A10 Capital, RBS Securities as Head of Commercial Real Estate Syndicate, KeyBank where he served on the Real Estate Capital Management Committee, Merrill Lynch International as co-head for European commercial real estate and Greenwich Capital Markets / NatWest Bank. Douglas earned a B.A. from Colgate University and a M.B.A. from Kellogg School of Management – Northwestern University in real estate finance and holds Series 24, 7, 63 FINRA registrations.
David S. Eberle
David S. Eberle joined The Arden Group in 2017 as Managing Director Investor Relations. Mr. Eberle has over 29 years of experience in the financial sector, specifically real estate. Prior to joining Arden Mr. Eberle was a Principal – Director of Fund Management for a large Midwest based real estate firm. Previous to this, Mr. Eberle spent 8 years as an owner and partner in Demeter, LLC. , Demeter raised equity from and provided investment management for a portfolio of real estate for Harvard Management Company. His responsibilities with Demeter included; developing PPM’s, interfacing with attorneys and CPA’s, identification, purchase and sale of properties, as well as all fundraising activities and investor communications. He spent nearly 10 years with W.P. Carey leaving as an Executive Director, before forming Demeter, LLC. He has held the following Securities Licenses; Series 7, General Securities and the Series 24, Principals License. He has been directly involved in raising over $5B in investor equity for real estate based assets located throughout the United States. Mr. Eberle earned a B.S. Degree in Management from St. John’s University in Collegeville, MN.
Mr. Greenip joined Arden Group as Head of Sales & Marketing in 2012. Gary brings four decades of hospitality and residential/resort real estate sales experience. Gary had 14 years tenure with Ritz-Carlton Hotels as Vice President of Sales Operations and has been involved with over $2.2 Billion in sales of luxury real estate in metropolitan NY, Hilton Head Island, Atlanta, Jupiter, Aspen, San Francisco and Kapalua.
Mr. Sher has been with Arden since 2009 and leads the office acquisition team. Post closing, Adam leads the office asset management team to ensure property performance. Prior to joining Arden, Mr. Sher was an analyst with Ernst & Young’s Transaction Real Estate Advisory Services Group, where he performed audits and SAS 73, FAS 141, and FAS 142 analyses for advisory clients.
- B.S. in Civil Engineering from Bucknell University
- Master’s in Engineering Management from Duke University
- M.B.A. from The Wharton School/University of Pennsylvania
Barbara Nipon Spencer
Barbara’s Nipon Spencer’s career has spanned 25 years and included single-family residential, high-rise luxury condominiums, office buildings and hotels. Her career is one drawn in design, luxury and quality. Daughter to one of Philadelphia’s most famous families, she brings a lifetime of inspired design and business expertise to her creation of select homes and business spaces. She has acted as the interior design consultant for the ARDEN Group for the past 10 years.
Matthew L Toukatly
MATTHEW L. TOUKATLY, ASSISTANT VICE PRESIDENT, DEBT ORIGINATIONS – Matthew joined Arden in 2017 to focus on originating and underwriting debt investments. Previously, Matt worked on the Mezzanine Acquisitions & Originations Group in Global Real Assets at J.P. Morgan Investment Management. During his tenure, Matt transacted on mezzanine and subordinate debt investments in excess of $350 million. Prior to J.P. Morgan Investment Management, Matt worked on the CMBS & Mezzanine Originations Group at Redwood Trust. While at Redwood Trust, he assisted in the origination of approximately $275 million of first mortgage and mezzanine financing on various asset classes located throughout the United States. Matthew earned a B.B.A. from Villanova University where he graduated Cum Laude with triple major in Real Estate, Economics and Finance.
CHRISTIAN D. VERGILIO
Mr. Vergilio joined Arden in 2017 to focus on debt originations and office acquisitions. Prior to joining Arden, Christian worked at Angelo, Gordon & Co., as a member of the Acquisitions Team in the Net Lease Strategy vertical where he was responsible for underwriting industrial, office and mixed-use transactions. Christian worked with sponsors to structure sale-leaseback, forward takeout and build-to-suit transactions. Christian earned his B.B.A. from Villanova University where he graduated with a major in Finance and Real Estate.