Snowball Developments: Company Profile

Background

Overview

Snowball Developments is a real estate investment and development firm established in 2017, headquartered in Brooklyn, New York. The company specializes in acquiring under-utilized and under-invested properties within the Greater New York City (NYC) metropolitan area, focusing on the Tristate region. Their mission is to enhance the built environment through strategic property investments, aiming to deliver durable returns to investors. This is achieved by de-risking transactions through extensive due diligence and actively pursuing accretive leasing transactions prior to closing.

Mission and Vision

Snowball Developments is committed to revitalizing urban spaces by transforming neglected properties into valuable assets. Their vision is to foster community pride and economic growth by improving the quality of the built environment, thereby creating sustainable value for investors and local communities alike.

Industry Significance

Operating within the real estate and construction industry, Snowball Developments plays a pivotal role in urban regeneration. By focusing on under-utilized properties, they contribute to the revitalization of urban areas, addressing housing shortages, and stimulating local economies. Their approach aligns with broader trends in real estate investment that emphasize sustainable development and community engagement.

Key Strategic Focus

Core Objectives

• Property Acquisition: Identify and acquire under-utilized and under-invested properties with potential for immediate renovations and long-term development.

• Value Enhancement: Implement strategic renovations and leasing strategies to increase property value and attract quality tenants.

• Community Engagement: Foster community pride and trust by treating local residents as partners and contributing positively to the neighborhood.

Areas of Specialization

• Industrial Properties: Focus on warehouses, logistics centers, and manufacturing facilities, particularly those suitable for last-mile logistics and on-shoring trends.

• Commercial Assets: Target mixed-use and commercial properties in urbanized areas, aiming for repositioning through site intensification strategies.

Key Technologies Utilized

• Data Analytics: Employ advanced data analytics for market research, property valuation, and investment decision-making.

• Project Management Software: Utilize software tools for efficient project planning, execution, and monitoring of renovation and development projects.

Primary Markets Targeted

• Geographical Focus: Greater NYC metropolitan area, including New York City, New Jersey, Connecticut, and surrounding regions.

• Market Segments: Urban industrial and commercial properties with potential for value enhancement through strategic investments.

Financials and Funding

Funding History

• Initial Fund: In 2021, Snowball Developments launched its first General Partner (GP) Fund, raising $10 million to acquire and develop properties in the Greater NYC area.

• Current Fundraising: As of early 2026, the company is actively raising a larger GP Fund 2, aiming to expand its portfolio and capitalize on new investment opportunities.

Financial Performance

• Assets Under Management (AUM): Approximately $190 million, reflecting the company's growth and successful execution of its investment strategy.

• Investment Returns: Targeted internal rates of return (IRR) range from 15% to 25% over a 3 to 7-year hold period, depending on the risk profile of each transaction.

Pipeline Development

Key Pipeline Candidates

• Industrial Properties: Recent acquisitions include a 507,000-square-foot warehouse in South Windsor, Connecticut, purchased for $27.85 million in February 2025, and a 257,000-square-foot warehouse in South Windsor, acquired for $17.27 million in January 2025.

• Commercial Assets: Ongoing evaluations of mixed-use and commercial properties in urbanized areas, with a focus on those suitable for repositioning and value enhancement.

Stages of Development

• Acquisition: Identifying and acquiring properties with potential for immediate renovations and long-term development.

• Renovation: Implementing strategic renovations to enhance property value and appeal to quality tenants.

• Leasing: Pursuing accretive leasing transactions to stabilize income streams and increase property value.

Target Conditions

• Urban Industrial Assets: Properties suitable for last-mile logistics and on-shoring trends.

• Mixed-Use and Commercial Properties: Assets in proximity to mass transit with potential for site intensification.

Anticipated Milestones

• Short-Term: Complete renovations and lease-up of recent acquisitions within the next 12 to 18 months.

• Medium-Term: Expand portfolio through additional acquisitions and successful repositioning of assets.

Technological Platform and Innovation

Proprietary Technologies

• Market Analytics Tools: Developed in-house tools for analyzing market trends, property values, and investment opportunities.

• Project Management Systems: Customized systems for tracking renovation progress, budgeting, and resource allocation.

Significant Scientific Methods

• Data-Driven Decision Making: Utilize comprehensive data analysis to inform investment strategies and project planning.

• Sustainability Assessments: Conduct thorough evaluations to incorporate sustainable practices into property developments.

Leadership Team

Executive Profiles

• Brian Ker – President and CEO

• Background: Founder of Snowball Developments with over 20 years of experience in institutional real estate transactions and management across private and public sectors.

• Contributions: Established the company's strategic vision, focusing on acquiring under-utilized properties and enhancing urban environments.

• Scott Sambade – Head of Capital Markets

• Background: Decades of experience in development, acquisitions, dispositions, and capital markets within the NYC commercial real estate sector.

• Contributions: Leads capital markets activities, including acquisition financing and portfolio recapitalizations.

• Andres Aldrete – Head of Portfolio Management

• Background: Over ten years in commercial real estate, specializing in underwriting, construction, asset management, and debt financing.

• Contributions: Oversees all aspects of asset management and portfolio-wide initiatives.

• Kyle Sabath – Senior Acquisitions Associate

• Background: Experience in investment sales, debt capital markets, and market analysis.

• Contributions: Supports the full acquisition lifecycle, including sourcing, underwriting, and due diligence.

• Shannon Harrington – Director of Asset Management

• Background: Over 25 years in commercial real estate, with a focus on optimizing asset operations and financial performance.

• Contributions: Manages property operations and financial performance across the company's portfolio.

Competitor Profile

Market Insights and Dynamics

• Market Size and Growth Potential: The Greater NYC real estate market is substantial, with ongoing demand for industrial and commercial spaces, particularly in urbanized areas.

• Industry Trends: Emphasis on urban regeneration, sustainable development, and adaptive reuse of properties.

Competitor Analysis

• Fidelity Investments: Offers a range of financial services, including real estate investment options.

• Investec: Provides global banking, investment, and wealth management services, with a presence in real estate investment.

• HSBC: A multinational banking and financial services organization with real estate investment capabilities.

• BNP Paribas: A global banking and financial services company involved in real estate investments.

• Nordea: A leading Nordic universal bank with services in real estate financing and investment.

Strategic Collaborations and Partnerships

• Local Partnerships: Collaborates with local experts and community stakeholders to ensure developments align with community needs and preferences.

• Investor Relations: Engages with accredited investors, family offices, and institutional investors to fund projects and expand the portfolio.

Operational Insights

• Market Position: Snowball Developments differentiates itself by focusing on under-utilized properties with high potential for value enhancement, setting it apart from larger institutional developers.

• Competitive Advantages: Emphasis on community engagement, thorough due diligence, and a modernized approach to real estate investing.

Strategic Opportunities and Future Directions

Strategic Roadmap

• Expansion: Increase the number of acquisitions in the Greater NYC area, focusing on properties with significant redevelopment potential.

• Sustainability: Integrate sustainable practices into development projects to meet growing environmental and community expectations.

• Technology Integration: Enhance technological capabilities to improve project management efficiency and investment analysis.