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Stanger Market Update: A Review of 2020

As we kick off 2021, hear the IPA and Robert A. Stanger & Company, Inc. for a comprehensive overview of the dynamic challenges faced in 2020 and a recap of year-end industry performance data.

Our team of expert panelists unpacked driving factors behind the latest numbers and took an in-depth look at the continued resiliency of the portfolio diversifying investments industry, while also discussing what is in store for 2021.

View PDF Stanger Market Update Slides


Jan 27 2021


  • Jonathan Brichkin
    Jonathan Brichkin
    Senior Vice President, Robert A. Stanger & Company, Inc.

    Mr. Brichkin is a Senior Vice President and member of the firm’s Database Information, Rankings and Publications Group, where he leads Stanger’s performance reporting initiative. Prior to joining Stanger in 2016, Mr. Brichkin was a Financial Solutions Consultant at Bank of America Merrill Lynch, working for the Merrill Edge group. Mr. Brichkin is a graduate of the Monmouth University MBA program and received a B.S. in Business Administration with concentrations in Finance and Real Estate from the same institution. He is registered with FINRA as a General Securities Principal.

  • Kevin Gannon
    Kevin Gannon
    Chairman and CEO, Robert A Stanger and Co, Inc.

    Mr. Gannon is Chairman & CEO of Stanger. Mr. Gannon joined Stanger in 1983 and has been the lead or co-lead investment banker on more than $75 billion of assignments involving real estate assets and securities. Mr. Gannon is a frequent speaker at industry events sponsored by the Institute for Portfolio Alternatives (IPA) and ADISA and is frequently quoted in the Wall Street Journal, REIT Wrap, SNL, DI Wire and Investment News. Mr. Gannon is a recognized expert on real estate securities and valuation matters having appeared as an expert in numerous forums including: U.S. Tax Court; U.S. Bankruptcy Court; Delaware Chancery Court; Federal Court; several State Courts; SEC Administrative Court; and arbitration forums.

    Prior to joining Stanger in 1983, Mr. Gannon was a Manager with Deloitte Haskins & Sells, an international accounting firm. Mr. Gannon is a graduate of Rutgers University (Phi Beta Kappa, 1978) with a BA in Economics and Accounting. Mr. Gannon is a certified public accountant and member of the American Institute of Certified Public Accountants and a General Securities Principal.

  • Nancy Schabel
    Nancy Schabel
    Executive Managing Director, Robert A. Stanger & Company, Inc.

    Ms. Schabel is an Executive Managing Director and leads Stanger’s Database Information, Rankings and Publications Group, overseeing the creation and maintenance of Non-Traded REIT, BDC, and DPP databases, the evaluation and ranking of new REIT and DPP securities, and Stanger publications. Ms. Schabel has been actively involved in the valuation of real estate assets and securities for over thirty-five years.

    Prior to joining the firm in 1984, Ms. Schabel was an analyst with Investment Search, Inc., where she was responsible for studies of financial strength and prior performance of sponsors. Ms. Schabel also evaluated partnership structures and authored due diligence reports and investment publications. Ms. Schabel is a 1980 graduate of Purdue University, with a Bachelor of Science in Accounting and Management. She is registered with FINRA as a General Securities Principal and an Investment Banking Principal.

  • Tony Chereso
    Tony Chereso
    President & CEO, IPA

    Tony Chereso is President and CEO of the Institute for Portfolio Alternatives and oversees all business operations. He brings an executive management track record of over 20 years to the IPA, along with a passion for excellence. Tony’s vision for the dynamic and rapidly changing PDI industry makes him a leading voice on critical legislative and regulatory issues. He has an unwavering commitment to expanding opportunities for the advancement of industry objectives. Tony has deep experience with privately offered securities and alternative asset capital markets, tax, due diligence, finance, audit and sales and marketing. Previously he was the President and CEO of FactRight, a leading third party independent due diligence and research firm. He also served as the Director of National Sales for a national real estate syndicator.

    Tony is a graduate of the DePaul University School of Commerce and attended business school at the University of Dallas. He is recognized as a distinguished instructor for the Institute of Internal Auditors.

  • Trisha Miller
    Trisha Miller
    Executive Managing Director, Capital Markets Redbrick LMD

    Trisha A. Miller is Executive Managing Director of Capital Markets for Redbrick LMD, a Washington DC-based developer of commercial real estate and the largest private owner of property located in Opportunity Zones in the District of Columbia. Ms. Miller has over thirty years of experience in the distribution of alternative investments and mutual funds through financial intermediaries. Previously Ms. Miller was Executive Managing Director of Robert A. Stanger where she served as a consultant to institutional and other alternative asset managers to assist with the development and implementation of their retail fundraising capability. She was previously the CEO of Starwood Capital, LLC, the broker/dealer affiliate of Starwood Capital Group, a $60 billion private equity firm with a primary focus on global real estate. In addition, Ms. Miller was CEO, Head of Distribution and National Sales Manager at Carey Financial, LLC, W. P. Carey’s broker-dealer, where she led the capital raising function for real estate and credit funds for nine years. Previously Ms. Miller was a sales manager with Rydex Funds (now owned by Guggenheim Partners), one of the earliest to launch alternative investment strategies in a mutual fund format. She was also with Columbia Funds and Putnam funds earlier in her career.

    Ms. Miller is currently the Chair Emeritus of the Institute for Portfolio Alternatives (IPA) which provides national leadership for the Portfolio Diversifying Investment industry through advocacy and education. Ms. Miller earned her B.A. from Chatham College in Pittsburgh, Pennsylvania and her MBA in Finance and Marketing from the Katz Graduate School of Business at the University of Pittsburgh. She is a Certified Financial Planner® and holds several securities licenses, including the Series 7 and 24 licenses.