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Our People

I want everyone who has worked with me or for me to be better off for the experience.

-Bill Passo

INDUSTRY RECOGNITIONS

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30%
of Team Has Been with Passco 10+ Years
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20+ Year Anniversaries Celebrated
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Best Place to Work & Top Companies Honors and Counting

At Passco, our strength is in our people.

We value a team that is driven to excel and highly diverse in experience and backgrounds. This allows us to recognize and pursue opportunities that others may overlook.

Our company culture supports personal and professional growth through ongoing training programs, company events, and an interactive team environment.

Apply to join our team here

WILLIAM O. PASSO

CEO & Founder

William O. Passo is a true pioneer in the real estate investment industry.

As founder and Chief Executive Officer of Passco Companies, he is responsible for the growth of the firm, which is now a national real estate company that has acquired, managed, and/or developed more than $3 billion in property spanning 20 states since its inception in 1998. He is also a Partner of Passco Companies.

During his career, which has spanned nearly four decades, Mr. Passo has directed the formation of more than 200 private and public limited liability companies and limited partnerships. He has also directed the acquisition, entitlement, management, leasing and/or disposition activities of over 250 retail, office, multifamily and land properties, raising more than $1 billion in investor funds.

Mr. Passo holds a Juris Doctorate degree from the University of California, Los Angeles (UCLA). He practiced law from 1967 to 1985, specializing in real estate syndications and related tax and securities matters. He also holds a Bachelor of Arts Degree with honors from California State University, Long Beach.

A registered representative and principal of Passco Capital, Inc., Mr. Passo has been a member of FINRA since 1998. He holds registered representative and general principal licenses and has been a licensed California Real Estate Broker since 1974.

Mr. Passo is a former Director of Catholic Charities Retirement Homes. He is also one of the founders of the Orange County Performing Arts Center.

LARRY SULLIVAN

President

Larry Sullivan has a strong record of leadership in real estate investment, with more than 40 years of industry expertise.

As President of Passco Companies, Mr. Sullivan guides the firm’s strategies for growth, and ensures that Passco’s core philosophy of investor-centric decision making is reflected throughout the company. He is also a Partner of Passco Companies.

Mr. Sullivan has played an integral role in the growth of Passco Companies.  He spearheaded the implementation of a multifamily investment strategy for the firm, resulting in over 30,000 units under ownership and management throughout the U.S. During his tenure, the firm has expanded from approximately $750 million to nearly $4 billion in assets under management.

During his career, Mr. Sullivan has been involved with more than $20 billion in real estate transactions on a national scale, including core, value add and development projects spanning across all the major property and specialty sectors.  Prior to joining Passco, he served as Managing Director of PM Realty Advisors, an institutional pension fund advisor.

Mr. Sullivan holds a Bachelor of Business Administration in Accounting from Niagara University, and completed MBA courses in real estate finance at San Diego State University.  He earned a Certified Public Accountant license (inactive) from the state of California and is a member of the American Institute of CPAs (AICPA), the California Society of Certified Public Accountants (CalCPA), the Alternative & Direct Investment Securities Association (ADISA), and the National Multi Housing Council (NMHC). Mr. Sullivan served as the 2020 President for the Alternative & Direct Investment Securities Association (ADISA) and is currently the Chairman for the Legislative Executive Committee and Regulatory Committee wherein he spearheads legislative initiatives on behalf of the of the Association. Mr. Sullivan also sits on the Board of Directors for the National Multi Housing Council (NMHC).

In 2017, Mr. Sullivan played a central role on tax reform issues including 1031 exchanges and coordinated ADISA’s position with other associations such as NMHC and Real Estate Roundtable (RER). Sullivan was appointed to the Advisory Board for UCI Paul Merage School of Business Center for Real Estate in 2019. Mr. Sullivan is also the recipient of ADISA’s 2017 A Champion of Excellence (ACE) Award. The Ace Award is the highest honor bestowed on an ADISA member by the Association and is given for demonstrating a remarkable commitment to excellence and adhering to the highest ethical standards and quality performance.

BELDEN BROWN

Executive Vice President

Belden Brown is a seasoned real estate professional with more than three decades of experience.

As Executive Vice President of Passco Companies, Mr. Brown is responsible for overseeing Passco ‘s Investment strategies. He is also a Partner of Passco Companies.

Prior to joining Passco, Mr. Brown served as Senior Vice President for a real estate company, where he was integral in the launch of the company’s first public offering. During his career, Mr. Brown also worked with a money management firm, assisting the company to grow their distribution throughout the broker dealer community. He spent eleven years at Rancho Consultants (now Rancon Securities) as a Regional Vice President representing them in the Southern California marketplace.

Mr. Brown attended the University of Miami, and is a licensed securities dealer, holding FINRA Series 7, 22 and 63 licenses. He is also a member of the Alternative & Direct Investment Securities Association (ADISA).

THOMAS JAHNCKE

President, Passco Capital, Inc.

A founding shareholder & Partner of Passco Companies, Thomas Jahncke is a seasoned industry expert with more than three decades of experience.

As Senior Vice President and Director for Passco Companies and President of Passco Capital, Inc., Mr. Jahncke is responsible for overseeing the firm’s operations and capital raising functions.

A Certified Financial Planner (CFP), he was integral in the formation of Passco Capital, Inc., and has helped the company to raise more than $1.8 billion in equity to date. During his career, Mr. Jahncke has served as Principal and CEO for Hall Securities Corporation, where, under his guidance, the company successfully raised more than $550 million.

In addition, Mr. Jahncke served in executive roles with Captec Financial Group, Inc. and Detroit Bank and Trust (now Comerica).  Mr. Jahncke earned a Bachelor of Science degree from Cornell University, and a Master of Business Administration degree from the University of Michigan.  He holds FINRA series 7, 22, 24, 27, 31, 39, 63 and 65 licenses, and is an active member of several industry associations, including the Alternative & Direct Investment Securities Association (ADISA), the Financial Services Institute (FSI), and the Financial Planning Association (FPA).

ALAN CLIFTON

Chief Investment Officer

Alan Clifton is a real estate acquisitions, finance and management expert with more than three decades of experience.

As Chief Investment Officer for Passco Companies, Mr. Clifton is responsible for overseeing all aspects of acquisitions & dispositions, negotiating and securing financing for new acquisitions; refinancing for maturing asset loans; overseeing corporate operations for Passco Equity Partners, LLC; and Chief Financial Officer of Passco Companies Development, LLC. During his career, he has also served as group President of BayHarbor Management Services, Founding Partner of Service Plus Financial, and General Manager for Orange and San Diego Counties for CarrAmerica Realty, a multi-billion dollar NYSE traded national REIT.

Mr. Clifton holds a Bachelor’s degree in Economics from the University of California, Los Angeles (UCLA).  He is a Certified Property Manager (CPM®) and a licensed California Real Estate Salesperson.  He is also an active member of several industry associations, including the International Council of Shopping Centers (ICSC) where he was appointed as the Western Division Operations Chairman, the Commercial Real Estate Development Association (NAIOP) and the Mortgage Banker Association (MBA), as well as a former board member of the Institute of Real Estate Management (IREM) and of the Building Owners and Managers Association (BOMA).

SUZY COTTLE

Chief Financial Officer

Suzy Cottle has spent more than 30 years in the finance and real estate industries.

As Chief Financial Officer, Ms. Cottle oversees all financial reporting for Passco Companies and its Affiliates for 19 years.

Prior to joining Passco Companies, Ms. Cottle served as Director of Corporate Finance for Steadfast Companies for 1.5 years, where she was involved in the development of innovative systems to enhance reporting timeliness and accuracy.

In addition, Ms. Cottle was responsible for financial reporting for more than $2 billion in real estate assets owned by institutional pension funds during a 10-year tenure with PM Realty Advisors.  Ms. Cottle holds a Bachelor of Business Administration in Accounting from the University of Texas at El Paso.

OGAL CLASPELL

Senior Vice President, Multifamily Investments

Ogal Claspell has more than 35 years of experience in acquisitions, asset and portfolio management, due diligence, research, valuations, and accounting in the real estate market.

As Senior Vice President, Multifamily Investments for Passco Companies, Mr. Claspell oversees the company’s asset management duties including investment operations and performance, financial analysis and budgeting, as well as asset strategy development for the firm’s $3.9 billion portfolio. 

Prior to joining Passco, Mr. Claspell has been directly involved in over $2 billion of acquisitions, nearly $2 billion of asset and portfolio management, and the annual internal valuation of a $4 billion portfolio of retail, multifamily, office, industrial and other real estate assets. He has held management roles with CS Capital Management, PM Realty Advisors, TCW Realty Advisors, and has vast experience with institutional clients such as the California Retirement System, the Public Employee Retirement System of Idaho, the Utah Retirement System, INVESCO, Taft Hartley Funds, among others.

Mr. Claspell earned a Bachelor of Science degree in Accounting from Brigham Young University, has passed Certified Public Accounting (CPA) examination, and has taken and passed numerous other real estate professional courses. Mr. Claspell is a member of National Multifamily Housing Council (NMHC) and the Alternative & Direct Investment Securities Association (ADISA).

ADRIANA OLSEN

National Sales Manager

Adriana Olsen is a specialist in the real estate marketing industry, with more than a decade of experience.

As National Sales Manager for Passco Companies, Ms. Olsen is responsible for raising funds for DST 1031 properties and other investment vehicles by supporting registered representatives throughout the nation with marketing strategies, property information, and investor communications.

In addition, Ms. Olsen is responsible for overseeing all regional wholesalers and instituting capital campaigns for Passco Companies.  In 2014, Ms. Olsen was named one of “Commercial Real Estate’s Women of Influence” by leading commercial real estate publication Real Estate Forum.  This prestigious industry honor highlighted Ms. Olsen’s deep experience in the real estate investment industry. As an industry expert and thought leader, Ms. Olsen is also frequently requested to act as a panel moderator, as well as a panelist for various commercial real estate industry conferences.

Prior to joining Passco Companies, Ms. Olsen served as a licensed Real Estate Agent with Prudential Real Estate. She holds FINRA series 7, 22, and 63 licenses, as well as a Bachelor of Arts degree from the University of Delaware. She is an active member of the Alternative & Direct Investment Securities Association (ADISA).

GARY GOODMAN

Senior Vice President, Acquisitions

Gary Goodman has over 30 years of experience acquiring all property investment types.

As Senior Vice President of Acquisitions for Passco Companies, Mr. Goodman is responsible for locating, negotiating to acquire, underwriting, and completing due diligence for the each of company’s multifamily and retail acquisitions throughout the United States. During his career, Mr. Goodman has been responsible for acquiring properties with a combined value of more than $7 billion. He served as Vice President of Acquisitions for PM Realty Advisers, and held executive level positions with Consolidated Capital, August Financial, Berkshire Realty Advisors and Sares-Regis.

Mr. Goodman holds a California Real Estate Broker License, a Bachelor of Arts from the University of British Columbia, and a Master’s in Business Administration from Columbia University.  He sits on the Executive Committee for the National Multifamily Housing Council (NMHC) and is a member of Green Multi-family Council of the Urban Land Institute (ULI).

COLIN GILLIS

Senior Vice President, Acquisitions

Colin Gillis has more than a decade of acquisitions experience specializing in the Southeast United States.

As Senior Vice President of Acquisitions for Passco Companies, Mr. Gillis is responsible for overseeing the firm’s East Coast operations, while also spearheading the identification and acquisition of multifamily product in the region.  During his time with Passco, Mr. Gillis has acquired 15,500 units across 50 transactions in eleven states for a total consideration in excess of $3.3 billion.

Prior to joining Passco, Mr. Gillis served as Senior Acquisitions Associate for the Atlanta office of Los Angeles-based JRK Investors, as well as Senior Acquisitions Associate for Atlanta-based The Lane Company. In both of these roles Mr. Gillis was responsible for sourcing acquisitions for investments in the Southeast U.S.

Mr. Gillis holds a Master’s in Business Administration, Finance from Kennesaw State University in Kennesaw, Georgia, as well as a Bachelor of Arts in Business Administration and Economics from Oglethorpe University in Atlanta, Georgia. Mr. Gillis is also an active member of the National Multifamily Housing Council (NMHC).

STACY STEMEN

Senior Vice President, Corporate Marketing & Development

Stacy Stemen has over 20 years of experience as a real estate industry marketing professional, during which time she has worked at several national real estate companies.

As Senior Vice President, Corporate Marketing & Development for Passco Companies, Mrs. Stemen oversees all aspects of marketing, public relations, special events, conferences and business development for Passco Companies. In this role, she spearheads the development of the “Passco” brand and manages the strategic growth of Passco Companies’ visibility on a national basis.

Mrs. Stemen is a graduate of California State University, Fullerton, and is an active member of the Alternative Direct Investments Securities Association (ADISA) where she sits on the Conference Planning Committee. She sits on the Advisory Board for Commercial Real Estate Women (CREW) – Orange County Chapter where she held the title of President in 2018. She also sits on the Advisory Board for the University California Irvine Center for Real Estate and has been on the Board of Directors for Aliso Viejo Little League since 2017.

In 2016, Mrs. Stemen was nominated by the Orange County Business Journal as a “Woman in Business” and was recognized as a “Woman of Influence” by Real Estate Forum. In 2018, Mrs. Stemen was recognized as one of the “Top Women in Real Estate” by Connect media and a “Power Woman” by Bisnow.

Mrs. Stemen spearheads the “Passco Gives Back” program where she has helped the firm donate over a quarter of a million dollars to charities nationwide.

ANDY WANG

Senior Vice President, Sales

Andy Wang has spent over two decades in the real estate marketing industry.

As Senior Vice President of Marketing for Passco Companies, Mr. Wang is responsible for sharing accurate and detailed information regarding the company’s DST 1031 products, and for building and maintaining strong relationships with broker dealers, clients, real estate agents, and other investors.

Mr. Wang has been a part of Passco Companies’ growth since 2002, and was on a team that earned the Award of Excellence from the Tenant-In-Common Association (TICA) for funding the largest tenant-in-common program seen in the industry. He also serves as a principal for Passco Capital, Inc.

Prior to joining Passco Companies, Mr. Wang gained experience in financial advising and consulting through increasing positions with Wells Fargo and Morgan Stanley.

Mr. Wang obtained a Bachelor of Arts in Psychology from Baylor University, and holds Series 7, 24, 31, and 66 licenses.  He is a member of the Alternative & Direct Investment Securities Association (ADISA).

CAREY P. LEVY

President, Passco Companies Development

Mr. Levy serves as the President of Passco Companies Development and is an integral member of the executive team. For over six collective years at Passco, Mr. Levy has been instrumental in addressing policies that promote the company’s culture and vision, as well as championing comprehensive goals and strategic planning for performance and growth. He is a seasoned professional with substantial experience of over 30 years in all sectors of real estate investment, acquisitions & dispositions, development, construction, business management, operations and marketing.

Mr. Levy previously served as Chief Operating Officer, Granite Investment Group with responsibilities of the company’s operations, as well as acquisitions, due diligence, entitlements, financing, construction and marketing of significant real estate investments. He was an integral force in growing a large senior housing portfolio at Granite. He also served as Senior Vice President for PM Realty Advisors, a nationally known real estate pension fund advisor with over $2 billion of assets under management.

Mr. Levy pursued his educational interests with an emphasis in development and marketing with a degree in Construction Management. In addition, he held a general contractor’s license and realtor’s license, with additional experience in real estate law, finance and business management. Mr. Levy has been affiliated with numerous industry associations such as BIA, ASHA, NIC, ICSC, CIDA, NMUA and NAREIM.

VICTORIA WHITE

Vice President, Entity Compliance & Business Licensing

Ms. White has more than 35 years of experience in the real estate investment industry.

As Vice President, Entity Compliance & Business Licensing, Ms. White works closely with Passco Companies’ legal team, investment managers, property managers and accounting team to ensure that Passco Companies meets the jurisdictional requirements for all corporate entities, obtains all necessary business licenses and manages all required permits and licenses for its portfolio of properties. Ms. White was previously the Vice President, Investor Services of Passco Companies.

Prior to joining Passco Companies, Ms. White serviced in supervisory positions with Charles Dunn Company and Bank of America, which she gained experience in commercial brokerage, due diligence, financial planning and client relations.

Ms. White attended California State University, Northridge and Santa Monica College.  She is involved with ADISA and is active in various charitable organizations.

Clay Coleman

Vice President, Marketing

Clay Coleman, Vice President of Marketing at Passco Companies, brings nearly a decade of seasoned expertise in real estate investments to the firm. In his role, he strategically facilitates the acquisition of DST 1031 equity by cultivating relationships with broker dealer representatives and registered investment advisors across the nation. Additionally, Mr. Coleman plays a pivotal role in investor and financial advisor multifamily investing education, with a focus on 1031 tax-deferred exchanges.

Before beginning his current position at Passco, Mr. Coleman served as the Director of Sales for RK Properties, overseeing the central and eastern U.S. regions. His career in real estate began at NexPoint Securities, where he served as a DST Product Specialist for nearly five years, contributing significantly to raising over $500 million in real estate assets.

Mr. Coleman’s educational foundation includes a Bachelor’s Degree in Business & Corporate Communications from the University of Kentucky. He holds notable credentials, including FINRA Series 7, 63, and 66 licenses, indicative of his comprehensive understanding of financial regulations and investment practices.

DREW ASPINWALL

Vice President, Acquisitions

Drew Aspinwall has spent his whole career in the acquisition and asset management space specializing in Southeast United States Multifamily.

As Vice President, Acquisitions for Passco Companies, Mr. Aspinwall is responsible for the sourcing of new opportunities, underwriting of all potential acquisitions, evaluating target markets, and facilitating new and existing relationships within the multifamily transaction community. During his time with Passco, Mr. Aspinwall has been involved in acquiring more than 5,300 multifamily units in 9 states for a total volume of $1.4 billion.

Prior to joining Passco, Mr. Aspinwall served on the Asset Management team for Carroll Organization out of Atlanta, GA. In this role, Mr. Aspinwall was responsible for the budgeting of existing properties, performance reporting, internal valuations, and assisted in dispositions.

Mr. Aspinwall graduated Magna Cum Laude from the Terry College of Business at the University of Georgia with a BA in Finance alongside a certificate in Organizational Leadership and Entrepreneurship. Mr. Aspinwall is also a member of NMHC along with being an active supporter of YoungLife Ministries, Wesleyan School, the Institute of Leadership Advancement at the University of Georgia, and coaching youth football in the Atlanta area.

NICOLE FULLERTON

Vice President, Investor Services

Nicole Fullerton has worked at Passco Companies since 2002, gaining more than 20 years of experience in the real estate client relations industry.

As Vice President, Investor Services, Ms. Fullerton oversees all communications with Passco Companies’ investors and such investors’ registered representatives. Ms. Fullerton leads the investor services team, which is tasked with managing investor accounts, distributions and reporting.

Ms. Fullerton holds a Bachelor of Science in Business Administration with an emphasis on Marketing from California State University, Long Beach.

David Wolke

Vice President, Asset Management

With over 15 years of experience in real estate management across the Southeast, David Wolke became an integral part of the Passco team in 2022, overseeing a substantial portfolio of 2,500+ units. In his role as Vice President of Asset Management, Mr. Wolke collaborates closely with Passco’s investment management team, as well as third-party operational teams, to ensure alignment with Passco and its investors’ standards in financial performance and property operations.

Prior to joining Passco, Mr. Wolke served as Senior Regional Property Manager at Greystar’s Nashville office, overseeing 2,000+ units in the Tennessee/Kentucky/Alabama region. His responsibilities included managing new construction, lease-ups, and stabilized assets.

A native of Smyrna, Tennessee, Mr. Wolke knew early on that the heart of any successful operation was people, motivating him to pursue a bachelor’s degree in human resources and personnel management from Western Kentucky University.

David currently lives in Murfreesboro, Tennessee with his wife and two daughters. In his leisure time, he enjoys sports, water skiing and working on cars.

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