This is neither an offer to sell nor a solicitation of an offer to buy any security. An investment in a Shopoff limited partnership involves a high degree of risk, including the possible loss of your investment, and is illiquid with an uncertain liquidity date. Past performance is not indicative of future results. Securities offered through Shopoff Securities, Inc., member FINRA/SIPC.
Investment Committee Member
William A. Shopoff is the founder, president and chief executive officer of Shopoff Realty Investments, as well as numerous affiliated entities. He has more than 45 years of real estate and investment experience, including extensive expertise in the acquisition, development, and sale of new and redeveloped residential and commercial properties throughout the United States, as well as partnership structure, debt placement, venture capital and investment underwriting. Mr. Shopoff has overseen the acquisition of more than 1,000 properties on behalf of the various business entities managed by Shopoff Realty Investments, including in excess of 8,000 apartment units (fee or mortgage loans) and the entitlement of more than 25,000 lots or units of land suitable for single-family or multifamily development, as well as millions of square feet of commercial projects. Mr. Shopoff has also developed several million square feet of industrial projects with 14 million square feet in the pipeline.
Mr. Shopoff earned his Bachelor of Science degree in biology and a Master of Business Administration in finance and accounting from the University of Texas at Austin. He is currently a Board Member of Lambda Alpha International (LAI) and of The Park Club. He is on the Board of Directors for the Orange County Business Council (OCBC), on the Board of Governors and member of the Investment Committee at Laguna College of Art and Design (LCAD) and is a Board member and Vice Chairman of The Housing Committee at the Orange County Business Council (OCBC). In addition, he is a member of Commercial Investment Real Estate (CIRE), the Urban Land Institute (ULI), the Building Industry Association (BIA), and is a Certified Commercial Investment Member (CCIM).
Jennifer Welker is the chief financial officer for Shopoff Realty Investments. Ms. Welker is a key member of the executive management team and assumes a strategic role in the overall financial management of the company.
Ms. Welker comes to Shopoff with over a decade of experience in real estate. Previously, she was with Versity Investments for over 10 years where she oversaw all financial aspects of the company, including acquisitions, accounting, financial reporting, cash management, budget/forecasting, and investor financial reporting. Prior to that, Ms. Welker served as vice president and corporate controller of the Picerne Group where she was responsible for finance, accounting and financial reporting for the company’s investment, management, and development activities. Ms. Welker started her career at PricewaterhouseCoopers.
She graduated from San Jose State University with a bachelor’s degree in business and holds a certified public accountant license.
Daniel Oschin is chief strategy officer of Shopoff Realty Investments. He is focused on developing and advancing the company’s strategic initiatives, cultivating its platform of distinctive investment programs, enhancing its brand and market presence, and broadening the visibility and impact of its added value, institutional co-investment model.
For more than 30 years, Mr. Oschin has owned, operated and managed businesses, both domestically and internationally, in a range of industries, including real estate, asset management, financial services, non-profit and trust management.
As a leader in the securitized real estate industry, he has been instrumental in the development of more than 150 public and private offerings, as well as programs resulting in the procurement of more than $3 billion in assets. Mr. Oschin served as president of the Alternative & Direct Investment Securities Association (ADISA fka REISA) board of directors in 2012, and as a member of the board from 2010 through 2013.
Mr. Oschin is a graduate of Pepperdine University with a Bachelor of Science degree in business administration.
Jo Merriman is the chief operating officer for Shopoff Realty Investments. Ms. Merriman joined the company in 2021 and is a key member of the executive management team. In her position, Ms. Merriman plays a pivotal role in ensuring the company’s sustained operational efficiency and financial strength. Her responsibilities encompass implementing and maintaining the proper operational controls, administrative procedures, human capital, and systems necessary for success.
Ms. Merriman is also responsible for the oversight of Shopoff Securities, Inc., the firm’s securities division. This role involves managing investor communications and spearheading the creation of offering materials instrumental in the company’s capital raising efforts across the broker-dealer and RIA platforms.
Ms. Merriman possesses a wealth of experience gained over twenty years in the real estate investment industry, encompassing extensive financial and operational knowledge. Prior to her role at Shopoff, she served at IHP Capital as vice president of finance and investor reporting for three years, where she managed institutional investor reporting, forecasting, asset valuations, and compliance reporting. Before that, she held the position of manager of financial planning and analysis at Hoffman Southwest in 2017, responsible for the development and implementation of operational reporting and the annual budget.
In addition to her more recent roles, Ms. Merriman also held the position of investment manager and investor relations at Redwood-Kairos Real Estate Partners, held various finance and project management positions at Apria Healthcare, and initially began her career at Bluestone Communities, a boutique real estate development firm, where she served more than 13 years.
Ms. Merriman earned a bachelor’s degree in business, with an emphasis in real estate finance, from California State University at Fullerton. She holds a certificate in Lean Six Sigma from Villanova University and is a registered FINRA professional with a Series 24 license.
Stephen Logan is Senior Vice President, Real Estate Development & Asset Management at Shopoff Realty Investments. Stephen joined Shopoff in 2022. Stephen has more than 28 years overseeing $4B of commercial real estate development and asset management.
Stephen, as the SVP, specializes in overseeing the development and management of assets throughout the Company’s portfolio. He recently completed the entitlement of Magnolia Coast (formerly Magnolia Tank Farm) through the entitlement process, including Coastal Commission approval of 203 homes, 51 affordable units, a 215-room hotel, and 19,000 sf of retail.
Prior to joining Shopoff, Stephen served as Vice President, Development and a Partner at Merlone Geier Partners for more than 6 years, where he oversaw the firm’s development in California, including The Village at Laguna Hills, NOHO West, Captiola Mall, Northgate Mall, South Shore in Alameda, along with other opportunities within the firm.
After nearly 10 years in asset management, Stephen joined Macerich in 2006, where he oversaw the redevelopment of Santa Monica Place, Broadway Plaza, Corte Madera, Northgate Mall, Vintage Faire Mall, and Fashion Outlets of San Francisco, along with other expansions throughout the western portfolio.
Stephen began his career in building management with Spieker Properties in Orange, CA, where he served for more than 4 years, eventually overseeing the company’s West LA office expansion and capital improvements for Santa Monica Business Park. When the firm was purchased by Equity Office Properties, Stephen went on to oversee all construction/capital improvement activities for their LA County portfolio of approximately 9 million square feet of office space.
Stephen is a proud graduate of the University of Arizona with a Bachelor of Science in Regional Development with a minor in Socio-Political Public Administration.
Bill Smith is senior vice president of design and construction for Shopoff Realty Investments. He has more than 30 years of experience in designing and constructing high profile, luxury projects throughout the world, having been involved with, or led, the construction of more than $18 billion in assets over his career. Mr. Smith is primarily responsible for the design, construction and delivery of Shopoff’s Dream Hotel project on the Las Vegas Strip. Mr. Smith will manage the design, schedule and construction budget throughout construction, providing strategic leadership, direction, management, and vision.
A successful development executive with a proven track record of managing full project delivery, Mr. Smith has led several complex mixed-use development projects within urban settings, and developed and delivered the largest LEED certified project in the United States at CityCenter in Las Vegas.
Mr. Smith earned a bachelor’s degree in architecture from Temple University. He is a Registered Architect and member of the American Institute of Architects.
Mr. Ghassemi has more than fifteen (15) years of experience in various real estate and finance roles. As Senior Vice President of Acquisitions, Mr. Ghassemi’s responsibilities include the sourcing of investment opportunities, market analysis, financial modeling, planning, finance, deal structuring, capital markets, and entitlement risk management Mr. Ghassemi has successfully contributed in the underwriting, acquisition, entitlement, management, and disposition of numerous asset classes including office, retail, industrial, multifamily and single-family residential with an aggregate value in excess of $2 billion. Prior to joining Shopoff Realty Investments, Mr. Ghassemi held senior roles with Pelican Realty and Fidelity Capital, where he was charged with deal sourcing, financial analysis, risk management, due diligence management, and/or repositioning of distressed complex assets regionally. Mr. Ghassemi holds a Master of Real Estate Development with academic honors degree from the University of Southern California.
Erik Johnson is the Senior Vice President of Construction, where he leads project teams to ensure delivery that is on time, on budget, and built to specification. With extensive experience spanning entitlement, design, and construction, Erik has overseen numerous complex development projects across Southern California, Denver, Phoenix, Utah, and Idaho.
Over his career, he has directed entitlement efforts for more than 9 million square feet of industrial property and delivered over 11.4 million square feet of industrial, residential, and institutional projects valued at more than $3.2 billion. Erik earned his degree in Construction Engineering Management from the Civil Engineering School at California State University, Long Beach.
Before joining Shopoff, Erik served with PCL Construction, where he acted as the single point of contact for design coordination between project teams and the Cities of Los Angeles and Inglewood on the $1.1 billion Consolidated Rental Car Facility (ConRAC) Project at LAX. This landmark public-private partnership (P3) design-build initiative—one of the largest concrete structures in the world—forms a vital component of LAX’s modern transportation network, linking the Central Terminal Area with the Metro Line and ConRAC.
Joe Magri is a seasoned attorney with over 24 years of significant real estate, corporate, securities, and governance experience. Joe has closed over $10 billion in real estate acquisitions in over 25 states, over $10 billion in M&A, joint venture, and finance transactions, and has substantial development, operational, and risk management experience. As General Counsel, Joe is responsible for protecting the legal interests of the firm, including overseeing all legal matters related to buying, financing, entitling, developing, constructing, operating, and selling retail, industrial, office, multifamily, and hospitality assets.
Terri Hovdestad is the Senior Vice President of Transaction Management for Shopoff Realty Investments. She has 39 years of experience in the real estate industry, including 30+ years as an escrow officer and transactions manager, and has successfully closed more than 10,000 real estate transactions throughout her career.
For nearly 20 years, Terri has been an invaluable member of Shopoff’s real estate team, overseeing the Transaction Management and Corporate Secretarial teams at Shopoff, whose focus is closing all acquisitions and dispositions for all real estate assets on behalf of the firm, as well as managing all of the firm’s corporate and asset-level entities. She and her team are also responsible for managing property taxes, insurance renewals, and interfacing with other departments to provide closing and entity information.
Throughout her tenure, she has made significant contributions to the firm, such as establishing a structured system for asset/entity ownership and overseeing its management. Notably, Terri successfully closed the complex Castilian project in December of 2020, marking the most intricate transaction in the company’s history, through an initial purchase of the land from sale and the concurrent sale of the land to a third party that generated the creation of three ground leases for the three separate buildings, and obtaining leasehold financing, securing all three leases closing all simultaneously on the same day. She also led the company’s most productive closing month, with 12 deals finalized in December 2020.
Prior to joining Shopoff in 2007, Terri worked at First American Title as a Sr. Escrow Officer for 15 years, where she played a crucial role in establishing and developing a process for closing Tenant-In-Common transactions.
Teri has also dedicated herself to mentoring and training numerous aspiring real estate professionals, leaving a lasting impact on the industry. Her extensive experience, combined with her commitment to fostering talent, showcases her invaluable contributions and accomplishments in the real estate field. She currently serves as a board member and treasurer for the Orange County chapter of Lambda Alpha International, an esteemed organization focused on land economics. Furthermore, she is a member of CREW Orange County and serves as the College Outreach chair.
Terri has a BA in Marketing, minor in Communications degree from Idaho State University, and she received her Paralegal Certificate in 2010 from the University of Irvine, Extension Program.
Mrs. Gordon has more than fifteen (15) years of experience in marketing and public relations, with an emphasis on commercial real estate and finance. As Senior Vice President, Marketing, Ms. Gordon leads the internal marketing team and drives all marketing-related activities for the firm, including the overall marketing strategy for both the real estate and securities divisions of the company, as well as Shopoff’s affiliate brands. Prior to joining Shopoff, Ms. Gordon held senior-level positions both in-house and within agency environments, partnering with organizations across consumer and B2B markets, with a background spanning commercial real estate, finance, hospitality, and nonprofit sectors. Ms. Gordon holds a Bachelor of Arts, Communications-Public Relations from California State University, Fullerton.
Scott Wolfe is Senior Vice President of Taxation at Shopoff Realty Investments, where he leads tax strategy, compliance, and structuring across the firm’s real estate investment platforms. He has been with Shopoff for the past 10 years and oversees tax planning and reporting for hundreds of real estate entities, working closely with executive leadership, legal teams, fund controllers, and investor services to support acquisitions, dispositions, and complex joint venture structures.
Scott brings more than 25 years of tax and real estate experience, including senior roles at Argent Management/SunCal Development, which became one of the largest real estate development companies in the United States, as well as MBK Real Estate and Deloitte. His background spans large-scale real estate portfolios, investor reporting, partnership compliance, and transaction-driven tax planning. Scott is a licensed Certified Public Accountant (CPA) and holds a Bachelor of Accountancy from the University of San Diego, where he graduated cum laude.
