Tag Archives: Tarek El Gammal

Partner Profile: Tarek El Gammal, Principal at Southeast Venture

This is the first in a new blog series, in which we’re highlighting our influential partners at Southeast Venture, including information about their backgrounds, work and perspectives on real estate trends and all things Nashville. These are a few of the leaders that inspire innovation and drive our company forward, so take a few moments to get to know them.

tarek el gammalTarek El Gammal is a principal with Southeast Venture focused on brokerage and development services. Since joining Southeast Venture seven years ago, Mr. El Gammal has represented clients in a brokerage capacity of over $150 million in transaction value and has overseen the activities on approximately $70 million of development.

What changes have you seen within the company in the time you’ve been here?

In my time with the company, I’ve seen that the timing of Southeast Venture’s  growth was well-positioned with Nashville’s growth. We have become a more diverse real estate company touching more product types than before. When you look at the company’s history you can see this has been a persistent theme but one that stands out to me during my tenure.

What trends are you seeing in commercial real estate?

There is definitely a big trend toward urban growth. In the past five years, the multifamily sector went from a shortage to more supply than demand with owners who are offering healthy incentives for prospective renters. Submarkets like Germantown, that didn’t exist only a few years ago, are thriving. We are also seeing a trend in the most desirable suburbs where multifamily developments are being developed as part of larger mixed use projects, rather than standalone buildings.

And deal sizes continue to grow – not just because of inflationary effects, but also because of the scale of projects being undertaken. We’re seeing a city change before our eyes with density difficult for anyone to have imagined 10 years ago.

What was your favorite project/development from 2017?

Eastside Heights, in East Nashville, has been a special experience for me. Theunique architectural design coupled with wonderful public art (see: the “EAST” mural) has made it a landmark asset in some respects. I’ve enjoyed watching the first residents occupy the building and take advantage of the amenities we all worked so hard to program correctly. More broadly, I’ve enjoyed watching Germantown build out its residential housing. 2017 was a pivotal year for the neighborhood where a tremendous amount of supply was delivered and has helped to create a truly unique part of Nashville.

Eastside Heights

What project/development are you most looking forward to in 2018?

I’ve really enjoyed seeing the work our firm is doing on the Silo Bend project. It will have such a huge impact on that area of town [The Nations] and help in its ongoing transition from a heavy industrial corridor into a walkable neighborhood with office, retail and residential areas. The Nashville Yards project will be one that I am excited to see start in earnest, as it will have one of the greatest impacts on our city’s downtown once fully built out. It’s going to be amazing to see.

What’s your favorite thing about Nashville?

Everything (it’s hard to pick), but I would point to the music industry, which is something that creates a unique angle for the city.

Where do you think commercial real estate is headed in the next 5+ years?

Hopefully up. From my perspective, I think that the current conditions of oversupply in multifamily housing will be short-lived and our market will return to a healthier supply/demand balance in the next 12 months or so. From there, it is likely that the development activity will return to a more sustainable level.

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We’ve promoted Tarek El Gammal to Principal and Jon Petty to Director of Retail Services

Join us in congratulating Tarek El Gammal, who has been promoted to Principal, and Jon Petty, who has been promoted to Director of Retail Services.

 Tarek El GammalTarek has been with Southeast Venture since 2010, when he joined as a broker to lead the firm’s multifamily investment sales, advisory and development activities. In 2013, he was promoted to associate.

 Tarek has worked with a variety of clients on sales and leasing transactions valued at over $140 million representing over 1.5 million square feet of commercial space. In 2013, he took a leadership role in the firm’s involvement of 12South Flats, the highly regarded mixed-use development co-developed by H.G. Hill Realty Company and Southeast Venture in the vibrant 12South neighborhood.

Before joining Southeast Venture, he served as managing member for Queen Square Group, LLC, where he provided consulting services to regional development firms. He also worked as vice president at The Tuckerman Group/SSgA, where he participated in the financing of more than $1 billion of commercial properties throughout the U.S.

 Jon PettyJon has been a member of Southeast Venture’s brokerage team since 2007, earning his Certified Commercial Investment Member (CCIM) designation in 2012. In 2013 the Nashville Business Journal recognized Petty as one of the top-performing CRE brokers in the Nashville area by naming him a 2013 Heavy Hitter in Commercial Real Estate. He is also an active member in the International Council of Shopping Centers (ICSC), serving as President of the Next Generation Program for Tennessee and a five-year member of the planning committee for the Tennessee/Kentucky Idea Exchange.

 Jon specializes in the representation of retail tenants with site selection, lease negotiation and project management, as well as landlords and owners of retail property and projects throughout Tennessee. In 2012 and 2013, he brokered a total of 90 deals. He has also been an integral part in finding locations for new restaurant ventures that are tapping into Nashville’s growing foodie scene. Petty’s clients include Community Hospitality, owned by Miranda Whitcomb Pontes and Jim Lewis, who are planning to open celebrated Prima this month at Terrazo in the Gulch, in addition to New York City-based City Winery, who recently opened a 31,000 square-foot wine and entertainment venue in SoBro.

 Jon graduated from the University of Tennessee, Knoxville. He is a member of the International Council of Shopping Centers (ICSC) and the National Association of Industrial and Office Properties (NAIOP), and serves on the board of directors for the Certified Commercial Investment Member (CCIM) Middle Tennessee Chapter.

Congratulations to Tarek and Jon!

Southeast Venture Purchases Property at Eighth and Division

We’re planning for a long-term investment in the growing East Gulch community

8th and DivisionWe closed yesterday on a 20,000-square-foot building at 714 8th Ave. S., which sits at the northeast corner of the Eighth Ave. and Division St. intersection. Located in a growing area recently coined “Gulch East,” the one-story building sits on 1.26 acres and has 63 parking spaces. The property was purchased for $4.25 million.

We see a lot of potential in this area of Nashville. The Music City Center has already kick-started hotel, restaurant and retail development. This will only intensify next year, when the city plans to extend Division Street over the CSX railroad tracks, which will connect two rapidly developing parts of town: the Gulch East area and lower SoBro.

As the city’s proposal for this project notes, this new connection will provide opportunities for infill development and connections between Music Row, Vanderbilt, Belmont, Midtown and the Gulch with the Lafayette neighborhood, Fulton Campus, Howard Office Building and Rolling Mill Hill. We’re excited to be a part of this growing neighborhood and expect to have a long-term partnership with the area.

The property’s current tenants will remain in the space. They include:

Tarek El Gammal represented Southeast Venture in the contracted sale. The seller, AWC Partners, worked directly with Southeast Venture without a broker.

There are a lot of opportunities for commercial and residential growth in this area as businesses and people continue to seek opportunities close to Nashville’s city center. This section of town is still developing its identity and neighborhood feel—we look forward to being a part of that transformation.

We’ve promoted Tarek El Gammal to Associate

Join us in congratulating Tarek El Gammal who has been promoted to the position of Associate.

TarekTarek has been with Southeast Venture since 2010, when he joined as a broker to head up our multifamily investment sales, advisory and development activities.

Tarek has been a large part of our growth in the apartment market. As our newest Associate, he brings a great deal of institutional experience and real estate contacts to Southeast Venture’s management table.

To date, Tarek has worked with a variety of clients on sales and leasing transactions valued at over $100 million representing over one million square feet of commercial space. He most recently assisted in obtaining financing and was a project manger for 12South Flats, the new mixed-use development project by H.G. Hill Realty Company and Southeast Venture in the vibrant 12South neighborhood.

Before joining Southeast Venture, he served as managing member for Queen Square Group, LLC where he provided consulting services to regional development firms. He also worked as vice president at The Tuckerman Group/SSgA, where he sourced $167 million of project capitalization in multifamily acquisition and mezzanine loan financing.

Tarek began his career in Atlanta in property management with Merry Land & Investment Company before becoming project manager with Equity Residential Properties Trust in Chicago.

He holds a bachelor’s degree in English and history from Hampden-Sydney College in Virginia and a master’s of business administration from University of Chicago’s Booth School of Business.

Congratulations Tarek!