ARLINGTON, Texas – SkyWalker Property Partners is undergoing a series of internal changes in anticipation of launching new investment funds later in the year.
The firm’s longtime COO, Carol Coffman-Sosebee, has retired while Clint Holland, acquisitions director for more than a decade, will be starting his own firm, Sterling Interests. In line with the leadership changes, William Welder has been promoted to director of acquisitions and capital.
“We are going to miss Carol and Clint. We’ve been together a long time,” says Gary Walker, managing principal and founder of SkyWalker Property Partners. “The evolution of SPP is an opportunity for our next generation to grow and lead.”
Walker has realigned the COO’s responsibilities by promoting Rachel Marion to director of accounting and Marijke Van Stichel to director of administration and property accounting. The changes are coinciding with the upcoming full investment of SkyWalker Property’s When Opportunity Knocks and Cash Flow Fever funds.
“We are always reviewing our business model to take advantage of market opportunities,” Walker says. “We also plan on investing with Clint and partnering with him on some projects. I’m very excited about the future and our team.”
Underwriting the changes is the pending close-out of SkyWalker’s legacy Hangover Fund. There are three assets remaining in the portfolio, two of which are under contract and a third being actively marketed for sale.
Meanwhile, SkyWalker has three properties in various stages of final negotiations to add to the portfolio of When Opportunity Knocks. It’s also sold five projects in the past six months on behalf of the fund’s routine portfolio-churning.
“We’re going to be fully invested in both funds in the near future,” Walker says. “We’re planning ahead and laying the groundwork now to set up a new wave of investment. We’ll also be investing with other sponsors in addition to leading our own projects.”
Holland joined the firm in 2009 as a consultant and was quickly promoted to acquisitions director. His new office is located in Southlake Town Square, 180 State St., Southlake.
“Now is a good time to go out on my own, given where we are in the funds and the life cycle of my professional and personal life,” Holland says.