Clifton Sperry

Results driven senior leader with expertise designing, implementing, growing and safeguarding large-scale commercial real estate portfolios’ long-term financial performance, building high performing teams, directing refurbishment capital projects with high quality results driven by a structured, outcome focused decision-making process. Cradle-to-grave ownership and investment management skill set including developing, monitoring and executing: •Portfolio strategy •Partnership structuring •Investment sourcing, selection, acquisition, onboarding, disposition •Transaction management •Acquisition and portfolio financing •Developing strategic action plans and annual property business plans •Pricing and revenue management •Expense optimization •Capital expenditure planning and construction project management •Lease negotiation and stabilization •Stewards highly successful business relationships, fosters collaborative communications to deliver the highest level of service to stakeholders while optimizing sustainable growth, and maximizing investment returns.

Professional Experience

Planned Family Sabbatical, Self-employed             

May 2023 – Present

Strategic career break to relocate from Juneau, AK to Chicago, IL to prioritize family and personal health, wellness, travel and exploring new creative opportunities. 

Alaska Permanent Fund Corporation (APFC), Juneau, AK                                                                               

Apr 2021 – Apr 2023

Investment Officer & Real Estate Portfolio Manager                                                                              

Equity:

• Full scope management of $4.5 billion portfolio of direct equity investment in 14 commercial, residential, hospitality and land properties located across US and European (GBR/ESP/PRT) markets. Direct investments wholly owned, and partnerships via JV platforms. Relationship lead & point person with authorization authority.
• Portfolio investments include core, value-add and opportunistic properties (e.g. 2.6 MSF retail, 4,500 residential units, 2.0 MSF office, and a 300-room luxury hotel) in addition to CBD land parcels held for development.
• Created 10y-Strategic Plans and 1y-Tactical Plans for each asset including operating & capital budgets, cashflow projections, leasing initiatives. Directed all aspects of relationships with JV partners, third party service providers and various local property management and leasing teams. 
• Managed a $425 million ground-up 500-unit apartment development project, and +$100 million of annual capital investment, refurbishment, repositioning programs and market analysis strategies.
• Oversaw asset management, leasing negotiations (+1M SF annually), quarterly MAI & internal property valuations, improving ownership operations best practices and reporting functionality.
• Collaborates with key internal departments and external service providers, including legal, accounting and tax, risk compliance, and treasury.  Responsible for building and maintaining strategic Partner and customer relationships.

         Debt:

• Performed direct review, approval, placement and ongoing performance oversight of +$650 million portfolio of 15 construction debt loans (i.e. APFC-entity as lender) secured by 20 logistics properties, in eight US markets.
• Development, execution, management and oversight of APFC’s tactical $1.5 billion internal lending platform         

Public and Private Investment Advisory  

Ernst and Young, New York, NY                                                                                                                              

Nov 2019 – Apr 2021

Sr. Consultant, Real Estate Strategy and Transaction Advisory Services                                                     

• Managed engagement progress, staff training, valuation assessments and financial modeling for $3.0 billion of US, UK, German and Dutch private equity investments in logistics, commercial and residential properties. 
• Advised investment strategy, asset management, and ownership operations for diverse core through opportunistic portfolios (e.g. logistics, office, retail, healthcare, residential and self-storage facilities).   

CastorColony, White Plains, NY                                                                                                                    

Oct 2018 – Oct 2020

Consultant, Asset Management and Financial Operations                                                                      

• Private debt and equity commercial real asset investment and ownership operations consulting. 
• Assessed and proposed international development polices, stakeholder communication channels, operating guidelines and performance optimizing procedures. 
• Implemented best-practices in transaction structuring, asset valuation, lease analytics and space optimization, risk assessment, KPI metrics to support data driven strategies, performance monitoring, financial reporting and impairment analyses.  Perform market and submarket analysis to support transaction strategies.     

Norges Bank Investment Management (NBIM), New York, NY and Oslo, Norway                                        

Mar 2009 - Apr 2018

Sr. Asset Manager & Portfolio Controller

• Recruited by Norges to launch Fund's global real estate investment strategy, ownership operating platform, and obtain Norwegian government investment mandate (2009-2010).  Responsible for designing, negotiating and implementing Norges' initial comprehensive investment and asset management strategies, and formulating initial ownership governance policies, processes and procedures. 
• Owner representative and manager of US real estate financial operations for a $3.2 billion equity portfolio of direct investments.  Oversaw JV structuring, acquisition analysis, due diligence, annual business planning and budgeting for 28 REIT holding companies.  Proposed, presented annual budget and capital investment recommendations to approval committees.  Portfolio primarily consisting of Class A trophy office space in eastern US gateway markets.    
• Program managed design, budgeting, construction, funding requisitions and completion reporting of US and European property development and capital projects totaling $3.5 billion; GBP 452 million; and EUR 351 million. Project scopes included +400,000 SF of retail and office tenant build-outs, and 450,000 SF ground-up development. 

Aberdeen Standard Investments, Oslo, Norway

Mar 2008 - Mar 2009

Consultant, Portfolio Manager - Nordic CRE Fund 

• Managed investor relationships and business development, acquisition analysis, fund capitalization, optimal financing, forming long-term portfolio strategy and portfolio management direction.
• Developed annual business tactical and capital plans for a 41-asset portfolio (AUM EUR 1.5 billion / P&L EUR 49 million) commercial, logistics and residential properties located across Nordics (DK/FI/NO/SE).  Co-ordinated quarterly external valuation process, internal reviews and committee approval process. Drafted financial reports.
• Closed EUR 100 million fund raising investment commitments, led private equity investor DD activities for European pension funds, sovereign funds, investment managers, family offices and financial advisors. 
• Co-developed portfolio hold-sell model and annual review methodology, audited existing property and fund-level capital structures, debt covenants and lending obligations, implemented controls monitoring loan compliance.   

Wells Fargo Bank Chicago,IL  

Nov 2003 - Mar 2008

Sr. Credit Analyst, Investment Banking, Securitizations and Capital Markets

• Managed pooling and securitization of US$5 billion commercial mortgages.

Education

Columbia University, School of Engineering, 

New York, NY     

Grad: 2020

• Construction Project Management

Massachusetts Institute of Technology, Center for Real Estate, 

Cambridge, MA                                                                             

Grad: 2015

• Real Estate Finance and Development

DePaul University, Driehaus College of Business, 

Chicago, IL                                                                                                               

Grad: 1999 

• Real Estate Finance and Investments