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THE VERITAS GROUP, LLC |
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The Veritas team was formed in 2002. Collectively, its individuals have developed over $250 million of real estate and have nearly $1 billion of development projects in the pipeline. Veritas has offices in Manhattan, New York and Rehoboth Beach, Delaware.
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Stephen Schwartz - Co-Founder & Managing Partner
steve@theveritasgroup.net
Mr. Schwartz is a Manhattan based real estate developer. He co-founded Veritas Group and serves as its general manager, overseeing the company’s development and acquisitions efforts. He has experience with all facets of the development cycle from sourcing new projects and raising capital to serving as a general contractor and managing facility operations. In addition, he has formed Veritas International Corporation to pursue self-storage opportunities in Europe. Veritas is currently the only U.S. based self storage developer in Italy where it operates projects in Milan and Turin.
He is also the founder of Capital Entity Services, which provides compliance requirements to borrowers in structured / securitized finance transactions and he co-founded Charles River Management, a property management company. Prior to entering real estate, Mr. Schwartz worked as an investment banker for Solomon Brothers where he covered the home building sector. Mr. Schwartz is a member of the Urban Land Institute.
He graduated summa cum laude with degrees in finance and economics from the University of Colorado at Boulder and has an MBA from the Harvard Business School.
Stephen A. Hardy – Managing Partner
shardy@theveritasgroup.net
Mr. Hardy leads the Veritas Group’s expansion into Canada through the development and acquisition of properties in the provinces of Ontario and Quebec. Currently overseeing the company’s four projects in Toronto, Mr. Hardy is also responsible for identifying additional sites and acquisition targets throughout the US and Canada.
Prior to joining the Veritas Group, Mr. Hardy was a private equity investor with Egan Managed Capital (Boston, MA). His background includes graduating from the University of Western Ontario on the Dean’s Honor List with a double degree in Economics and Politics as well as an MBA from the Harvard Business School, where he received honors. Prior to business school, he led a logistics outsourcing firm based in Toronto where he managed a $35 million budget, the activities of 125 people and nearly one million square feet of real estate. He is currently Chairman of the U.S. Alumni Board for his alma mater, Huron College.
Preston Schell – Co-Founder & Managing Partner
preston@theveritasgroup.net
Mr. Schell is co-founder of Veritas to which he serves as a strategic advisor and President of Ocean Atlantic Associates, a diversified real estate development and brokerage firm. With more than $1 billion of both residential and commercial projects in the pipeline, Ocean Atlantic is one of the largest developers in Delaware.
Mr. Schell’s background includes graduating magna cum laude from Amherst College and earning an MBA from the Harvard Business School. Prior to forming Ocean Atlantic, Mr. Schell worked as an investment banking analyst for Merrill Lynch (Chicago, IL), to which he credits his strength in analyzing and valuing potential real estate investments. He is committed to both responsible land use and historical preservation and was one of the founders of the Sussex County Land Trust, a non-profit organization whose mission is to preserve open space for future generations. Mr. Schell is a member of the Urban Land Institute.
Mr. Hudson is President of Hudson Management and an active developer of residential and commercial real estate in Delaware. His career began in the family aerial crop dusting and farming business. He later became involved managing commercial real estate investments and building manufactured home communities. In 1995, Mr. Hudson launched Hudson Homes, a manufactured and modular home sales center. He has served as a principal in the development of over 2,500 residential units and is currently involved in the Villages of Five Points in Lewes, Delaware, a mixed-use development consisting of 586 single and multifamily homes with a large office and retail component. In 2001, Mr. Hudson co-founded the Sussex County Land Trust and is presently co-chairman. He is also involved in a number of not-for-profit organizations.
A native of Sussex County, Delaware, he graduated from the University of Delaware in 1975 with a Bachelor’s degree in Political Science and Spanish.
Mr. Schell is a private investor in emerging companies and real estate projects. He is a member of the Board of Directors of Dycom Industries (Palm Beach Gardens, FL), a NYSE listed company, and several non-profit organizations.
In 2002, Mr. Schell retired from a 29 year career in investment banking during which he served as Chairman of Global Technology Investment Banking for Merrill Lynch & Co. (Palo Alto, CA), as co-head of Investment Banking and Executive Committee member and Partner of Montgomery Securities (San Francisco, CA), and Vice President and Director of Kidder Peabody & Co. (New York, NY). Mr. Schell divided his time between client assignments for growth companies in the technology, healthcare and consumer sectors and managing the strategy and growth of his investment banking firms.
He grew up in Wilmington, Delaware and graduated from the Tatnall School (1964), Amherst College (1968), and Harvard Business School (1973), and maintains close affiliations with each school.
Mr. Thompson was President of Edgehill Drugs, Inc, a retail drug chain operating 26 stores in Maryland and Delaware for twenty years, ending in 1999 when he successfully sold the company to Rite-Aid Corporation. He is a licensed real estate broker in the state of Delaware and has been active in the development of commercial and residential real estate for the past thirty years.
Mr. Thompson was a founding director of County Bank in Rehoboth, Delaware and presently serves on the bank’s Executive Committee. He is presently working with Worcester Preparations School in Berlin, Maryland on a capital campaign which will help the private school to facilitate its long range development plans.
Stephen L. Clark II –
Vice President of Acquisitions
sclark@theveritasgroup.net
Mr. Clark joined Veritas to source and execute potential development, conversion or acquisition opportunities within the United States, primarily for self-storage. His background includes several years of experience within the self-storage industry. Mr. Clark holds a dual degree in Business and Entrepreneurship with an emphasis in Real Estate from Wichita State University, and a Masters in Real Estate Development from Columbia University. He is also a Certified Commercial Investment Member (CCIM) candidate, holds a Professional Real Estate Development Certificate from the Urban Land Institute (ULI), a Self-Storage Development Certificate from the Self-Storage Training Institute and is a member of the Royal Institution of Chartered Surveyors (RICS).
Jerry S. Smith –
Director of Operations
jsmith@theveritasgroup.net
As Director of Operations, Mr. Smith leads the company's facility operations group. He is responsible for maximizing occupancy in each U.S. facility and driving profits for the company's investors.
Prior to joining the Veritas Group, Mr. Smith was Chief Operating Officer of ORE International, a New York based developer of both commercial and residential products. At ORE, Jerry was responsible for a team of professionals engaged in project management, building maintenance and sales.
Mr. Smith holds a bachelor's degree from the University of Arizona, cum laude, and a law degree with honors from Golden Gate University in San Francisco, California. He practiced real estate and corporate law before his transition to management.