Wasatch Group Company Profile

Background

Founded in 1988 by Dell Loy Hansen, Wasatch Group is a diversified real estate development, construction, property management, and guaranty capital company headquartered in Utah. The company operates a broad portfolio that includes real estate development, commercial and retail development and management, multi-family development and management, technology, venture capital, and consumer products. With a commitment to innovation and community engagement, Wasatch Group emphasizes values such as caring, integrity, accountability, collaboration, creativity, responsible stewardship, and service-minded action.

Key Strategic Focus

Wasatch Group's strategic focus encompasses several core objectives:

• Real Estate Development and Management: Managing over 70 apartment communities with approximately 17,000 units across five western states—California, Utah, Arizona, Colorado, and Washington.

• Technology and Innovation: Through Wasatch Energy Group, established in 2016, the company develops clean energy solutions, including Virtual Power Plants (VPPs) that utilize solar energy and battery storage to provide sustainable and reliable energy.

• Venture Capital and Consumer Products: Investing in and supporting various businesses, contributing to economic growth and innovation within the communities they serve.

Financials and Funding

As of 2023, Wasatch Group manages over 100 properties in the Western United States and employs over 1,700 people. In May 2023, a joint venture involving Wasatch Group secured $160 million in Commercial Property Assessed Clean Energy (C-PACE) financing for Summit Vista, a life plan retirement community in Taylorsville, Utah. This financing, the largest C-PACE deal to date, is intended for ongoing construction and the incorporation of energy-efficient features.

Pipeline Development

Wasatch Group's development pipeline includes projects like Summit Vista, Utah's first life plan retirement community, comprising nearly 1,600 units offering independent living, assisted living, skilled nursing, and memory care. The community features amenities such as a swimming pool, fitness center, art studio, library, and outdoor garden areas.

Technological Platform and Innovation

Wasatch Energy Group's development of Virtual Power Plants (VPPs) represents a significant technological innovation. By utilizing solar energy and a network of aggregated batteries, VPPs store and manage energy, providing sustainable and reliable power solutions. This approach benefits utilities, stakeholders, investors, municipalities, and residents by reducing carbon emissions and enhancing energy efficiency.

Leadership Team

• Dell Loy Hansen: Founder of Wasatch Group in 1988, Hansen has led the company to manage over 100 properties in the Western United States, employing over 1,700 people as of 2023.

• Janae Jarvis: President of Wasatch Property Management since 2021, with over 27 years in the multi-family industry. She oversees a portfolio of over 17,000 units and has led the lease-up of numerous developments.

• Kainoa Clark: Chief Marketing Officer, with 15 years of experience in marketing, advertising, branding, and public relations. He has led marketing efforts for various companies and currently serves as President of The W Agency.

• Daniel Lewis: Chief Financial Officer/Residential, overseeing accounting operations for Wasatch's multifamily real estate. He joined Wasatch in 2009 and has held various positions within the company.

• Mike Christiansen: Technology & Systems Manager, responsible for the technology department operations, data, and support team. He joined Wasatch Property Management in 2007 and has led multiple software conversions and technology innovations.

Leadership Changes

In 2021, Janae Jarvis was appointed President of Wasatch Property Management, bringing over 27 years of experience in the multi-family industry.

Competitor Profile

Market Insights and Dynamics

The real estate development and property management industry is highly competitive, with numerous firms operating across various regions. The market is characterized by continuous growth, driven by urbanization, population growth, and the demand for residential and commercial spaces.

Competitor Analysis

Key competitors in the real estate development and property management sector include:

• Lincoln Property Company: A national firm with a significant presence in real estate development and management.

• CONAM Management Corporation: Specializes in property management services across various regions.

• Fairfield Residential: Engages in real estate development and property management, focusing on residential communities.

• FirstService Residential: Provides property management services with a broad portfolio of managed properties.

• Alliance Residential Company: Involved in real estate development and property management, with a focus on residential properties.

These competitors offer similar services and operate in overlapping markets, contributing to a dynamic and competitive landscape.

Strategic Collaborations and Partnerships

Wasatch Group has engaged in significant collaborations to enhance its market position and innovation capacity:

• Summit Vista Project: In partnership with Gardner Group and Solamere Capital, Wasatch Group secured $160 million in C-PACE financing for the Summit Vista retirement community, emphasizing energy-efficient features.