Two innovative leaders in the local real estate industry have been inducted into the 36th annual North Texas Commercial Real Estate Hall of Fame in partnership with NTCAR. Bill Vanderstraten and Scott Roman were inducted during an event held May 1 at the Arts District Mansion in downtown Dallas.
“North Texas is known as one of the premier real estate regions in the United States, and Bill Vanderstraten and Scott Roman have contributed greatly to that reputation. We are thrilled to induct these accomplished leaders into the NTCAR Hall of Fame,” Robert Gurna, co-founder and chairman emeritus of the 37-year-old hall of fame event, said in a statement.
Vanderstraten, president of Chief Partners LP, is known for a national portfolio that includes the Fields, a land purchase in Frisco that will house the new headquarters of the PGA of America, and Clearfork, a mixed-use development in Fort Worth.
NTCAR said Roman, of 42 Real Estate LLC, has built a reputation for custom home projects across the U.S. and for his efforts to redevelop Deep Ellum while preserving its historic essence.
Two receive Lifetime Achievement Awards
During the May 1 event, Jack Fraker, Newmark’s president and global head of industrial and logistics capital markets, received the Michael F. McCauley Lifetime Achievement Award, which is presented to an individual who has dedicated countless hours to the community, professional organizations serving the real estate industry and philanthropic causes throughout their career in real estate.
A respected real estate leader and one of the Hall of Fame's three co-founders, Mr. Gurna received the Michael F. McCauley Lifetime Achievement Award in recognition of his profound contributions to the real estate industry.
According to NTCAR, Vanderstraten was introduced by Hall of Fame Executive Committee member Greg Cannon and inducted by Andrew Levy. Roman was introduced by Hall of Fame Executive Committee member Lynn Dowdle and inducted by Bill Cawley. Ran Holman presented Fraker with the McCauley Award. Hall of Fame co-founders Chris Teasdale and Darrell Hermis presented Gurna with the McCauley Award.
According to NTCAR, Hermes served as event chairman and Hall of Fame Executive Committee member Bill Cox served as emcee for the event.
Known for “cutting-edge projects”
Vanderstraten founded Chief Partners LP in 2007 with Trevor Rees-Jones and the Rees-Jones family.
Chief Partners, a commercial real estate investment firm, is focused on teaming with the best operators in the country and has currently produced a successful portfolio of more than 80 individual investments through more than 30 operating partners. According to NTCAR, Chief has held more than $1.1 billion in equity since inception and currently has $1.4 billion in assets under management.
An additional 110 successful investments have resulted in Chief's net income more than doubling. Chief's team and partners have completed 3.64 million feet of development since inception, as well as 3.43 million feet of value-add repositioning assets. Chief also invests in growth markets across the country with a focus on multifamily, industrial, retail, medical office, land, data centers and self-storage.
Prior to founding Chief Partners, Vanderstraaten was a founding partner at real estate private equity firm Thackeray Partners (now Greystar) in Fund I. Previously, he worked at CarrAmerica from 1997 and joined Harwood International (formerly SPG International) after graduating from SMU.
“Bill's work in real estate is extensive, forging valuable partnerships on many cutting-edge projects, including the iconic Fields Ranch, which has a construction value of more than $5 billion,” Hall of Fame Executive Committee member Greg Cannon said in a statement. “In addition, Bill's contributions to the Dallas area community and SMU are extraordinary.”
Deep Ellum's Community-Driven Approach
According to NTCAR, Roman and his 42 Real Estate team focus on a wide range of real estate projects, from industrial and land investment/development projects to urban redevelopment and pro bono projects. Roman's custom home business spans 40 states and Canada, and his clients include Dick's Sporting Goods, Best Buy, 24 Hour Fitness, Tractor Supply, FedEx, Frito-Lay and UnitedHealthcare.
42 also invests in land and speculative industrial projects, with approximately 10 million square feet of planned or owned land.
Roman's passion is Deep Ellum, Dallas, which is celebrating its 150th anniversary this year.
A decade ago, Roman put together more than 55 parcels, taking a community-focused approach to redevelopment rather than profit-driven. In addition to restoring the remaining vintage buildings, he has also worked on a 42-mural program, where local artists, from 14-year-old students to novice and veteran painters, have added colorful, often powerful and edgy topical messages. The murals have graced a quaint historic neighborhood that was known a century ago as the live music capital of North Texas. His company also manages more than 15 properties in The Cedars and 16 in downtown Dallas.
Roman began his career at Henry S. Miller Co./Grub & Ellis Co. before moving to Stratford Group Co. and Fisher Co. Known for his selfless philanthropy, Roman helped develop a 12,000 square foot retail building for St. Philip's School and Community Center and acquired land for low-income housing for several nonprofit organizations.
Roman mentors young professionals, serves as an elder in his church, and sits on the boards of the Boy Scouts of America's Circle Ten Council, Downtown Dallas, Inc., The Real Estate Council (TREC), Deep Ellum Foundation, and Carry the Road.
He also serves on the Texas School Lands Commission, overseeing a $6.2 billion portfolio and more than 13 million acres of land in Texas benefiting K-12 public school children.
“Scott's vision and creativity are unmatched in the industry and drive his legacy projects, but his consummate leadership skills and love of people are his number one priority,” Dowdle said. “Always doing his best to inspire others, Scott is a difference maker, and that is the measure of his great success.”
Lifetime Achievement Award Recipients and Event Sponsors
A recipient of the Michael F. McCauley Lifetime Achievement Award, Mr. Fluker has had a distinguished career at Newmark.
He served on the ULI Board of Trustees and was a trustee and adjunct professor at SMU and the University of Texas Business School.
“Jack's contributions epitomize the highest standards that this award represents,” said Darrell Hermis, co-founder and member of the NTCAR Hall of Fame Executive Committee. “An outstanding individual in every respect, he has given back to his community and shaped our industry in a variety of incredible ways.”
A second-time McCauley Award recipient, Mr. Gurna is a respected commercial real estate veteran with a career spanning six decades. Known as a dedicated mentor and advisor who shaped the careers of numerous real estate leaders, Mr. Gurna's list of accomplishments is long, including serving as president of the Henry S. Miller Company's Investment/Land division from 1994-2014.
Title sponsors for the 2024 Hall of Fame event were FIELDS and KFM Engineering & Design. Platinum table sponsors were Arlington EDC, Benchmark Title, Broadway Bank, Champion Partners, Chief Partners LP, Happy State Bank, Hillwood, A Perot Company, Huffines Communities and Huffines Enterprises, Jackson-Shaw Company, KDC, Lincoln Property Company, M. Terry Enterprises, Munsch Hardt Kopf & Harr, PC, NEWMARK, OHT Partners, Oncor, Rees-Jones Holdings, LLC, Republic Title, Rosewood Property Company, Skybox Datacenters, Texas Capital and Weber & Company. Gold sponsors are City of Mesquite, Columbus Realty Partners, DB Urban, LLC, Folsom Properties, Henry S. Miller, Invesco Real Estate, MacCo Builders, McGuire, Craddock & Strother, PC, PlainsCapital Bank, Primera Companies, Inc. and Ryan Companies US, Inc. Spencer Fane LLP, TRANSWESTERN, The Real Estate Council and Younger Partners.
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