Pegasus Flies Into 2020: Los Angeles Commercial Real Estate Advisory Firm Announces Key Talent Acquisitions

CENTURY CITY, Calif., Jan. 21, 2020 /PRNewswire/ -- Pegasus Investments Real Estate Advisory Inc. ("Pegasus") has announced the addition of Kyle Gulock and Michael Asarch to its world-class investment sales team. Formerly of Kidder Mathews, a West Coast commercial real estate firm, Gulock and Asarch join Pegasus as Executive Vice President and Senior Associate, respectively. Gulock and Asarch are nationally known for their representation of investors in connection with the acquisition and disposition of high-quality single tenant net leased and multi-tenant retail shopping centers. Gulock and Asarch will be joining Pegasus veteran Tony Veiller, who was recently promoted after completing a banner year in 2019. Previously working alongside David Chasin, Brad Kritzer, Daylin Ackerman and Stephen Apfel, Veiller will provide transactional advisory support to Gulock and Asarch as well as continue to execute his own book of business.

"This is an extremely rare departure in strategy for Pegasus, as we almost never hire from outside firms," stated David Chasin, co-founder and Managing Director at Pegasus. "However, we have done a lot of business with Kyle and his team dating back to when Kyle was at Charles Dunn Company, so we knew the pedigree we were getting," Chasin added. "No one is doing the quality of business that Pegasus is doing," Gulock commented, "and we could not be more excited to be a part of the firm's growth as it transitions from a Los Angeles boutique into a national force," Gulock added.

Gulock and Asarch join Pegasus in the wake of one of the firm's best years on record. Pegasus closed over $300 million in investment sales transactions last year, representing a 50%+ increase over 2018. Among Pegasus' most notable transactions was Water Tower Place in Des Moines, Iowa, a 270,000 square foot Whole Foods-anchored retail shopping center which sold for $51.2 million. Pegasus exclusively advised the seller, a local partnership, as well as procured the purchaser, a California-based family office. The sale marked the largest shopping center transaction in the state of Iowa that year, according to CoStar. Later in 2019, Pegasus set another record when it announced the sale of a South Lake Tahoe, California Whole Foods-anchored shopping center. The Whole Foods, which traded for a 3.68% cap, represented the lowest cap rate recorded for a single-tenant Whole Foods. The balance of the shopping center sold for a 4.50% cap.

ABOUT PEGASUS: Pegasus is a fully integrated, boutique commercial real estate investment advisory firm providing unparalleled investment sales brokerage, capital markets, asset management, and leasing services in connection with high-quality, primarily net leased retail property throughout the United States. Founded as a family office in 1988 and headquartered in Los Angeles, the Pegasus team has grown organically and steadily throughout the real estate market cycles of the last quarter-century. Pegasus applies its highly specialized advisory platform to custom-tailor real estate investment solutions for its diverse client base of high net worth individuals, family offices and institutional real estate investment firms. The result is unmatched execution capability.

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SOURCE Pegasus Investments Real Estate Advisory Inc.