The next-generation incarnation of value-add real estate investing, combining Maxwell Drever’s decades of industry expertise and relationships with a focus on the senior living housing gap for workforce retirees.
As Managing Partner and COO, Noah oversees the multifamily and senior living platforms for Drever Capital Management.Noah brings 12+ years in real estate expertise, with experience in overseeing dispositions, recapitalizations opportunities, asset/portfolio …
Maxwell Drever serves as Chairman of Drever Capital Management, and for over five decades, has been a visionary leader in contrarian impact real estate investing. Maxwell has repositioned or developed 47,000+ multifamily apartments, and has always followed a “doing well by doing good” mantra with socially responsible investments that generate strong risk-adjusted returns for investors.
He has redeveloped underperforming, workforce multifamily properties in a socially and environmentally conscious manner, providing the catalyst for transforming entire neighborhoods. His career in responsible investments began in Seattle in the early 1970s when he profitably transformed 17 troubled complexes into desirable apartment communities for families with workforce incomes. His former company, Drever Partners, was one of the earliest and largest buyers of multifamily housing with 18,000 units under management during the RTC cycle. In 1997 those assets were merged into Walden REsidential Properties, a Dallas-based public REIT (NYSE) to create a $1.4 billion REIT. He formed Concierge Asset Management, which merged with Crossbeam Capital to focus on acquiring and redeveloping distressed multifamily projects. The Company owns and manages 8,000 residential units. He is the largest shareholder of Crossbeam Concierge Holdings.
Maxwell holds a B.A. in Finance from the University of Illinois. His philanthropic passion is assisting the health and education of underserved youth and in bringing awareness to issues of eldercare health. He lives and works north of San Francisco, where he is an active hiker, nature photographer, horticulturist, paddleboarder, and enthusiastic bay swimmer.
Frank Marro serves as President and CEO, bringing over 30 years of experience in all aspects of commercial real estate, including legal, deal origination, asset management, investment management, and risk management.
He has served as P&L leader for two divisions of GE Capital Real Estate’s group, implementing its JV Equity busniness from inception to growth of over $20 million in annual realized net income. Throughout his career, he has overseen and closed more than 1,000 real estate projects, totaling +$20 billion in capital, including more than 100,000 apartment and senior living units, 20 million square feet of commercial space, and several thousand hotel rooms.
Frank is a long-time member of the Board of Directors for NMHC and a former member on the Board for the American Senior Housing Association. He is a former officer of Belmont Village, a fully integrated Memory Care and Assisted Living Developer, Owner, and Operator.
Frank holds a BA from Hofstra University, a JD from Harvard Law School, and an MBA from Georgia State. A former officer of MetLife, he served for over 10 years on the Board of Directors of the National Multi-Housing Council, is currently serving on the Board for the American Senior Housing Association, and is a member of the Georgia Bar.
Frank is a former soccer referee, piano player, competitive table tennis player, and is active in martial arts. He is also the occasional poker aficionado.
As Managing Partner and COO, Noah oversees the multifamily and senior living platforms for Drever Capital Management.
Noah brings 12+ years in real estate expertise, with experience in overseeing dispositions, recapitalizations opportunities, asset/portfolio management, investor relations, capital markets (both debt and equity), and acquisitions, including those through nonperforming loans and bankruptcies.
Noah has repositioned or developed 10,000+ multifamily and senior housing apartments. Prior to joining Drever Capital Management, he received extensive training working under the leadership of Crossbeam Concierge, an SEC-registered, vertically integrated multifamily sponsor. During this time, he held a variety of positions throughout the organization, including construction management, acquisitions, and capital markets.
Noah holds an MBA from The Middlebury Institute of International Studies, with a concentration in international finance and a BA in English from Colorado College. He serves as a board member for the Drever Family Foundation, which focuses on education and senior enrichment through the arts.
Noah is an FAA certified instrument rated pilot and is a Master Falconer.
Edward Baker is responsible for all financial and operational aspects of DCM’s investments in properties and private funds.
Edward has 14 years’ experience in commercial real estate, including holding the position of CFO for a private REIT. He is an English Chartered Accountant, qualifying in 1986. He has extensive experience and expertise in corporate and real estate acquisition, deal evaluation and negotiation, budgeting, financial control, financial management, and risk evaluation and management. He previously held the same position at Concierge Asset Management prior to its merger with Crossbeam Holdings, LLC.
While in the U.K., he served as CFO of a residential mortgage lender with $3 billion in on-book assets. Prior to that, he served as CFO of one of the U.K.’s largest privately owned Internet service providers. Edward has also worked in corporate finance with the U.K.’s largest residential real estate brokerage company, where he led the team that acquired a real estate brokerage branch network of 300 retail outlets. Moving to the U.S. in 2003, Edward served as Principal and CFO in two commercial property ventures. He joined Concierge in 2005.
Edward earned both his Master’s and Bachelor’s degrees from Cambridge University. In his spare time, he enjoys biking, hiking, and cooking.
Jorge Livermore is the Director of Investor Relations responsible for capital raising, marketing, investor reporting, and business development initiatives. Jorge brings 13+ years of experience in real estate investment funds and fixed income sales.
Prior to joining Drever Capital Management, Jorge spent 5 years at TCW Group as an integral member of a $100 million institutional real estate investment fund focused on acquiring, renovating, and leasing distressed single family properties. Previously, Jorge spent 2 years at Auriga USA as a Director of Fixed Income Sales, responsible for the secondary trading of U.S. Mortgage Backed Securities and other structured products to a client base that included money managers, private equity funds, hedge funds and REITs. Jorge began his career at The Winter Group as an analyst responsible for the risk management, loss mitigation, and REO disposition of the firm’s mortgage portfolio prior to being promoted to the Sales and Trading team.
Jorge received his B.A. in Economics and Philosophy from Columbia University, and was a 4-year member of the Division I Baseball team, being voted Captain his senior year. He enjoys travelling, is an avid skier, tries to be competitive on the golf course, and will venture out on a surfboard in the cold waters of the Pacific from time to time.
Tiffany Baker assists with business writing, marketing, branding, and communications in DCM. She holds a PhD in literature. In her spare time, she is a novelist.
Aaron Sagin serves as the Director of Asset Management, overseeing onsite operators to ensure financial performance, and manges renovation programs and capital expenditures for both multifamily and senior portfolios.
He works closely with acquisitions, due diligence, financing, closing, refinancing, and disposition to maximize returns. Aaron is involved from an early stage on new construction projects, in market reviews, establishing rent thresholds and building out project pro forma to model the development lifecycle accurately. He works through construction to manage budgeting, pre-leasing, and property management as the project gets close to delivery.
Aaron has 7+ years of real estate experience across multiple asset types in acquisitions, asset management, brokerage, and financing. He has background experience managing 4,500+ apartment and senior housing units. Aaron’s previous experience includes working with an equity accelerator processing residential mortgage payments and in the commercial real estate industry focusing on landlord and tenant representation.
He holds a BA in Political Science from Colorado College and an MBA from the University of San Francisco, School of Management. Aaron grew up in Philadelphia, and remains a loyal fan of both the Eagles and the Phillies. He is a passionate and skilled outdoorsman, and enjoys hiking excursions through remote territory.
Joe Cyr is the Controller for Drever Capital Management responsible for overseeing the financial and tax accounting for DCM investment funds.
Joe brings 5+ years of tax experience as he previously worked for PricewaterhouseCoopers (PwC) in the asset management tax practice. As an integral member of a public accounting firm, Joe worked with large private equity funds, mutual funds, and hedge funds where he was responsible for working through complex tax allocations as well as auditing tax information on financial statements that were filed with the SEC.
Joe holds a California CPA and is a member of the American Institute of Certified Public Accountants. Joe studied at California State University – Chico and graduated with a Bachelor’s of Science in Business Administration with a concentration in accounting and finance. In his free time Joe enjoys playing recreational soccer.
Dietmar Foth-Willmann helps to handle the accounts and finances for the DCM operation.
He was born and raised in the former German Democratic Republic (the formerly communist area of Germany). After the Wall came down, he received his associate degree in tax accounting in 1994 with the Chamber of Tax Consultants, Lower Saxony, Germany.
Dietmar worked for several CPA firms in Hamburg, Germany. He made his first contacts with investment funds, specializing in shipping funds for funding container vessels. Before he founded his own accounting company in Hamburg, Dietmar specialized in accounting for artist and international taxation. He also co-founded an investment and management company for real estate in Germany and California.
Dietmar moved to the U.S. in 2011. Before joining DCM, he invested in a company that imports German candy into the U.S.
He is a passionate cook, loves a good glass of wine, plays golf, and loves to ride motorcycles.
Heather Peacock serves as the executive assistant to Maxwell and also manages, organizes, and oversees employee relations at the Boathouse for DCM, including matters of H.R.
Heather has 10 + years of administrative and managerial experience. Most recently, she has worked as an executive assistant and property manager to a private individual with a real estate portfolio in the US and Europe. She was involved in marketing on multiple digital platforms, and coordinated events on select properties.
Heather graduated from UC San Diego with a Bachelors in Science in Biology, with a concentration in marine molecular biology. She has a passion for helping and healing animals, and enjoys hiking with her dog, cooking with friends, and traveling.
Steve McCoy coordinates and performs all of DCM’s physical due diligence, negotiates and implements all construction contracts, and oversees development and construction management.
He has 27+ years of experience in real estate renovation and new construction, with a sum of over 133 completed or in-progress projects totaling $885 million, which includes a $365 million repurposed high-rise in downtown Dallas, TX. Steve is a Texas Licensed Professional Inspector in Real Estate and EPA-certified in Abestos Management and Environmental Site Assessment, GBCI-Green Associate Certification.
Steve holds a bachelor’s degree in accounting from Clarion University.
As Vice President of Construction, David is responsible for project development and construction management at Drever Capital Management, ensuring that our owners and partners meet their development objectives on time and within budget. He engages and directs architects, engineers, contractors, and other affiliate disciplines, interfacing with all governmental agencies from project inception through final certificate of occupancy.
David has worked in the construction and development profession for 34+ years across multiple industry segments such as retail, multifamily, and commercial. Prior to joining DCM, David operated HOFF Group, a construction and development management company primarily focused in the multifamily segment. He has held various positions in the construction industry ranging from field superintendent to president of two privately held construction companies. Over the course of his career, David has completed 20,000+ apartment unites and 10 million square feet of commercial projects. His construction and development experience combine both renovation and new development projects.
David received his B.A. in Building Construction from Texas A&M University, and currently resides in Houston, where the warm climate affords him the opportunity to play golf (almost) year-round.
Ivan PopGruev is the lead engineer of the Drever construction team with specific focus on sustainable initiatives for The Drever and Larkspur Active Adult communities. He is based in Dallas.
Ivan’s core business experience was earned at Bechtel. He was also the Bechtel Group representative at the Global Business Network and the Kozmetsky Global Collaboratory at Stanford University. In his role, Ivan also worked with the leadership of the industrial business lines and made investment recommendations on e-business to the Chairman Leadership Council. Ivan is formally trained in Six Sigma along Bechtel’s P & L leadership.
After his Bechtel tenure and MBA studies in finance, Ivan handled portfolio management of international equities for institutional clients/pension funds. Most recently, Ivan originated, engineered the business solution, and gained the executive support of the American Heart Association for an organizational behavior-based, strategic initiative with an NPV of $325 million in perpetuity at a 10% discount rate.
Ivan is a member of the American Finance Association, and an adjunct Professor of Finance at Strayer University. He holds an MBA from the University of California at San Diego and UCLA. He has a Civil Engineering degree in Structural Engineering from the University of California at Berkeley.
Ivan’s roots are in Bulgaria. He was stationed in Europe before and after the collapse of the former Soviet Union, serving the Bulgarian Army in chemical warfare, intelligence, and prevention. After an honorable discharge, Ivan persuaded and mobilized thousands of students in Bulgaria to participate in peaceful demonstrations to overthrow the communist regime. After this, the U.S. granted Ivan a visa to restart and complete his studies in the United States.
Carrie Ruckhardt serves as Presdient for Drever Management Company and is responsible for providing operational oversight, leadership and support to the senior living portfolio.
Carrie has over 19 years of experience in the senior living industry. She has worked in many facets of the industry and has a true passion for seniors. Over the course of her career, she has worked through many regulatory, occupancy and operating issues with a positive outcome. Throughout Carrie’s career, she has worked 1:1 with many state regulators for multiple states to overcome licensing challenges in senior living. She has also been a grassroots advocate to provide support with long term solutions in many areas the senior living industry faces.
Carrie holds an MSW from Binghamton University, with an emphasis on Gerontology. Carrie is an active participant in Argentum, the leading National Association for Senior Living. Carrie actively participates in her local Rise Against Hunger Campaign and volunteers to support different community needs. Carrie lives in Upstate NY with her husband Michael and their beloved dog Mertaugh.
Kim joined the Drever Management Company team in September of 2018 as Vice President of Sales and Marketing. Her responsibilities for the Larkspur Active Adult Communities include recruitment and training all team members on sales processes; occupancy development; the creation of customized tools designed to drive sales and marketing initiatives; company branding and marketing campaigns; and strategic planning to maximize the success of new developments.
Prior to joining DCM, Kim held several key roles in the Senior Living Industry, including Senior Living Sales and Marketing Consultant, Director of Sales and Marketing, Senior Living Advisor, and Community Relations Director. Kim has proven success leading sales teams as RSM, and GM with fortune 500 companies, as well as driving and exceeding sales quota achievement and metrics as a top Sales Producer for the largest Senior Housing and Senior Referral Companies in the industry. While Kim’s experience over the last 20 years is extensive, the constant that continues to drive her is her passion for finding senior housing solutions, while creating engaging and safe environments for the seniors she serves.
Kim has a BS in Communications from the University of Missouri with an emphasis in Gerontology and aligns her volunteer time to advocating for seniors. Her fundraising endeavors include board and committee positions for local and national organizations whose mission is to provide aid and assistance for the vulnerable senior population. She brings her extensive experience, passion, and proven success track record to be an integral part of the Larkspur Active Adult Communities’ brand.
Mitchell brings 30+ years of active adult and senior services expertise in developing and overseeing aging strategies plans for 3000+ families that addressed all levels of the continuum to enhance quality of life and maximize wealth protection by customized resource matching, conflict minimization interventions, and risk protection planning.
Prior to joining Drever Capital Management, Mitchell founded and managed a boutique Elder Law Firm for 22+ years in Los Angeles which provided a range of legal services, as well as aging planning and resources and including but not limited to, medical and alternative wellness; relocation; finance consultants; government benefits; estate planning and management; family mediations related to care and financial issues; Complex Capacity Hearings; and, Financial management, Elder Abuse, and Estate litigation. Mitchell’s approach to aging issues ushered multiple individuals and families through an enhanced quality of life, while maximizing wealth protection.
Mitchell has held senior leadership roles in Elder Law organizations, as well as board and committee positions in national health organizations. Furthermore, Mitchell has participated in legislative subcommittees and testified before California Senate and Assembly Sub-Committees. In addition, Mitchell formally authored a column in Southern California’s premier 50+ lifestyle magazine; lectured to regional and national audiences; and, co-created and lead an aging educational series. Mitchell holds a JD from Golden Gate University School of Law, a BS from San Diego State University and is a member of the California State Bar since 1988.