As we reflect on the past year, it is clear that the journey through 2023 was marked by both challenges and opportunities. At Legacy Developers, embracing these moments is part of our DNA – it's the legacy of Legacy. Despite facing significant business hurdles, including rising interest rates, strains in the commercial real estate sector, and tightening credit markets due to recent bank failures, we are proud to say that our company is not just surviving but thriving.
Resilience at the Core
Our resilience as a company is fueled by our clear sense of purpose and strategic positioning, particularly in the self storage asset class. This sector has shown exceptional durability in uncertain times, and our focus here has been a key factor in our success. We've made strategic acquisitions and expanded in robust regions, making notable progress in the commercial sector as well. Our recent completion in Allegany, NY is a testament to this success. It boasts approx. 100,000 square feet of self storage combined with nearly 60,000 square feet of retail space and multiple pad sites.
Financial Stability and Growth
In these turbulent times, our financial strategies have been a beacon of stability. With all of our development sites held free and clear, we've ensured financial stability. This stability underpins our ongoing growth and innovation, allowing us to continue exploring investment opportunities in both public markets and private equity. Our strategic partnerships have also been instrumental in enhancing our position in the market.
Our development and construction projects have reached new heights this year. In NJ, we proudly delivered and sold a Class A self storage site for nearly $19 Million. In San Antonio, TX we brought another 100,000 square foot site to completion and are well on our way to stabilization. In FL we brought two different sites through approval and sold a third to another developer. And lastly in NY, we delivered a flagship self storage site that is currently performing above expectations.
Our Team and Partnerships
The achievements of this year are a direct reflection of our exceptional team. Their dedication and commitment have been pivotal in the execution of our projects. We are thrilled to welcome Hoan Thai as the new VP of Banking and Investor Relations. Hoan's role in our capital partnership program and institutional investment management platform will be vital in our continued growth. We also welcome Bret Farris onboard as our new Chief Financial Officer. Bret’s valuable insight into investor relations and financial markets has been proven to help us attract and keep the right partners as we grow.
As we navigate the dynamic landscape of our industry, we extend our deepest gratitude to you, our partners, for your continued trust and support. Every challenge is indeed an opportunity, and we are committed to seizing these opportunities with unwavering determination. Our track record, strategic foresight, and commitment to innovation position us strongly for the year ahead.
Thank you for being a part of our journey.
Joe Evangelisti, CEO
& Brian Brogan, COO
Joe is a second generation builder and began visiting construction sites with his father, Rob, as a child. Since then, he’s always had the urge to be involved in real estate and be building things. This led him to joining the US Navy Construction Battalion – The Seabees. After serving multiple tours and racking up numerous service medals, he decided to return home and start his professional real estate career.
Joe has over 15+ years experience building and selling thousands of homes in the South Jersey area. Within this timespan, he has built himself an 8-figure real estate empire and has completed over $100MM in real estate transactions. He has since transitioned this passion and wealth of real estate knowledge into building state of the art Self Storage Facilities across the country.
Brian's strong family ties to construction, with a contractor father and a lumberyard-managing grandfather, molded his early career in Philadelphia. Over two decades ago, he partnered with Joe's father, Rob, overseeing construction projects within the firm. In 2016, they jointly acquired the company, and Brian assumed the role of Chief Operating Officer at The Evangelisti Companies, managing a substantial team.
Today, as COO of Legacy Developers, Brian specializes in designing and building Class-A self-storage facilities nationwide, drawing on his experience and determination. His personal life is equally fulfilling, with a lasting marriage and a commitment to family, community fundraising, culinary interests, and passionate support for the Philadelphia Eagles. He cherishes time with loved ones, especially on the open ocean.
Barry Sherman has more than 25 years of experience in the commercial development, design and construction industry as a senior executive and business owner. He has extensive experience in the planning, design and construction of
self-storage facilities and similar industrial commercial type projects in locations across the country valued up to as much as $25 million.
Barry has led the process of entitling, designing and constructing of more than 90 facilities nationwide including conversion type, single-story facilities and multi-story urban located facilities. He has assembled and trained teams of architects and engineers in understanding the key development features of what makes a success development project.
Alex, a dedicated U.S. Army Veteran, brings his expertise in small team covert operations to his roles in the civilian world. After his military service, he made a seamless transition into the manufacturing industry, where he played a pivotal role in facilitating asset disposition for Fortune 500 companies.
In his current capacity at Legacy Developers, Alex oversees the intricate process of acquisitions and dispositions, ensuring that each project progresses from concept to realization with meticulous precision. His track record showcases his ability to orchestrate multimillion-dollar land acquisitions and developments with excellence. Alex's unique blend of military discipline and business acumen make him a trusted leader in the field of acquisition and development.
With 18 years of experience in the HVAC industry, Stacy Ammons is a seasoned professional, excelling in operations and construction management. Her profound knowledge of AIA contracts adds immense value to the team, and her unwavering loyalty has cultivated enduring client relationships that align seamlessly with Legacy's values. Stacy's exceptional attention to detail drives our operational success, as she not only anticipates needs but proactively initiates strategies to ensure meticulous goal attainment. In the realm of daily operations, Stacy's energy is transformative, enhancing efficiency to prevent any detail from slipping through the cracks.
Her presence elevates our team's precision, instilling confidence in tackling project intricacies. Stacy's role at Legacy not only betters our operations but also elevates our collective capabilities, solidifying our path towards sustained excellence.
Thaddeus Campbell, a former Martial Artist within the Tiger Schulmann’s system, transitioned into real estate after a head injury altered his career path. With over a decade of experience instructing, competing, and training alongside UFC fighters, he achieved professional Kickboxer status.
In the real estate industry, Thaddeus is actively involved in various sectors, including Fix & Flip, Buy & Hold, and Wholesaling, and is expanding into Self-Storage Development. He values deals that ensure mutual benefits for all parties.
As the Director of Dispositions at Legacy Developers, Thaddeus collaborates with leading developers in the nation. His extensive market knowledge allows him to offer clients access to highly sought-after entitled land opportunities. Thaddeus's journey from martial arts to real estate showcases his dedication and success in a new and exciting field.
Adeel has a distinct specialization in real estate investing. With over a decade of professional experience, his journey has since evolved into initiating commercial projects at Legacy Developers. With a dedicated emphasis on cultivating robust connections with key players within the industry, Adeel is entrusted with the responsibility of recognizing both on and off-market opportunities.
His daily role encompasses skillful negotiations with commercial broker & owners, while simultaneously exploring alternative asset classes to enhance the scope of Legacy’s operations. Adeel possesses a profound understanding of shifting market dynamics and maintains a keen awareness at a national level, underpinning his contributions to the organization's continued success.
Steven is a Rowan University Graduate. His professional journey started as a science teacher, he then transitioned to becoming a personal trainer in Cherry Hill, NJ. His career took a significant shift when he joined Legacy Developers as a mentor, providing valuable guidance to aspiring commercial real estate developers. Steven's versatility and expertise were further acknowledged as he assumed the role of acquisitions manager, a position where he identifies and assesses land investment opportunities on a national scale.
In his capacity as acquisitions manager, Steven's contributions have been instrumental in expanding the company's assets under management, resulting in the addition of millions of dollars in valuable real estate assets.
Jimmy is a trained physicist turned real estate investment specialist. After spending five years in sales, acquisitions, and management for the largest residential investment property buyer in the country, he has become a seasoned property trader- closing over 500 transactions.
Since joining the team, Jimmy has shifted his talents from the residential to commercial and industrial asset classes to expand Legacy’s impact on the industry.
Nick Famulary's impressive journey in construction, starting as a mason laborer after college, showcases his dedication and versatility. He quickly progressed to roles like home developer, union foreman for large projects, government contractor for military bases, and consultant for Sandy relief efforts. Notably, he also tackled high-end, multi-million-dollar home construction.
As a Project Manager at Legacy Developers LLC, Nick continues to excel in the field. He oversees contracts, manages projects from design to permitting, and ensures their successful completion. With meticulous attention to detail and a wealth of experience, he's a vital asset to the Legacy Developers team. Nick's career is a testament to dedication and adaptability in the construction industry, serving as an inspiration to those seeking to make their mark in this dynamic field.
"Ninety percent of all millionaires become so through owning real estate." - Andrew Carnegie
"Buying real estate is not only the best way, the quickest way, the safest way, but the only way to become wealthy." - Marshall Field
"The major fortunes in America have been made in land." - John D. Rockefeller