MATRIX EQUITIES - Key Persons
Larry Miller has over 40 years of real estate development and operations experience. He is responsible for strategic business development and for management oversight of the operational and financial aspects of Matrix Equities and its affiliates including the management and direction of (i) master planned communities, residential subdivision developments and homebuilding operations, limited-service branded hotel acquisition, development and operating activities, retail, office and industrial property developments, and (ii) multi-resident care home operations.
Mr. Miller has successfully founded 4 companies, across different industries (master-planned developments, homebuilding, grocery stores and infrastructure construction) and grew each company to exceed $100 million in sales.
Mr. Miller served as the founder and sole shareholder of Miller Holdings, Inc. and Miller Holdings Investments, Inc. (both investment holding companies), Omega Construction, Inc. (a licensed general contractor responsible for all master plan infrastructure development), and Omega Management Services, Inc. (a licensed engineering firm responsible for entitlement and plan review) (collectively "Miller Holdings"). In his position of Chief Executive Officer, he was also responsible for strategic business development and management oversight of both the operational and financial aspects of Miller Holdings and its affiliates. At the turn of the AZ market there were approximately 4,000 residential lots under development. Under Mr. Miller's leadership Miller Holdings became one of the most successful developers of mixed-use master planned communities managing land mapping, entitlement and infrastructure construction, as well as the development of retail centers including a 250,000 sq. ft. Wal-Mart power center, and commercial properties which include a 275,000 sq. ft. three story office building project and a number of industrial projects in the Phoenix MSA and Northern California. To service company developed communities, Mr. Miller also developed and operated a cable television and internet operating company in Maricopa AZ designed for 12,000 homes and sold in 2011 with approximately 3,000 active subscribers.
In 2003, Mr. Miller co-founded Elite Communities, Inc., a "Top 20" homebuilding company headquartered in Phoenix, Arizona. Elite Communities quickly grew to become the 3rd fastest growing homebuilding company in the US in 2006 closing approximately 800 homes per year at the height of the market. Quality was not overlooked during this explosive growth as evidenced by Elite Communities being honored as the area's 2nd best homebuilder in overall customer satisfaction in 2008 and received MAME awards in 2006 and 2007 from the Homebuilders Association for design, marketing and homebuilding excellence. In the summer of 2007 Elite was also named the second fastest builder in the market with a delivery time of 143 days per home.
Mike Walla is responsible for the legal and accounting aspects of the Company and its affiliates. Mr. Walla has over 25 years of real estate experience.
As a former tax partner with KPMG, LLP, Mr. Walla served as the National Director of KPMG's Real Estate Tax Practice, as the National Director of KPMG's Homebuilding and Land Development Tax Practices and as the Partner in Charge of the Arizona Tax Practice.
Mr. Walla has significant experience in residential and commercial development, land development and homebuilding industries, including specific experience in the following areas:
Acquisition structuring, disposition or financing of real estate assets
Organizing and reorganizing corporate, partnership and other business forms. For example, he directed the tax-free structuring of a "cash out" reverse merger of a privately held S corporation homebuilder into a public company while preserving significant public company net operating loss carry-forwards.
Performing acquisition due diligence and
Assisting in valuation, cash flow and other financial matters.
Mr. Walla received his Bachelor of Science and JD degrees from the University of Nebraska and the University of Nebraska - College of Law respectively. He is a licensed Certified Public Accountant.
Job Titles:
- Vice President
- Managing Director, Innovation Villas, LLC
Ronald L. Smith, P.E. has a 35+year background in project management, land use planning, civil engineering, and construction management on land development projects throughout the southwestern United States.
Mr. Smith joined Larry Miller's team in 1998 and together they founded Omega Management, Inc., which, under their direction, was to become the second-largest residential land development company in Arizona, based on product volume. Omega Management was responsible for the planning, engineering, and entitlement of over 46,000 residential lots in 11 master-planned communities, including the highly successful Master-Planned Communities of San Tan Ranch, San Tan Heights, Maricopa Meadows, and Tortosa, as well as 10 single-phase subdivisions and over 200 acres of retail/office commercial. At the height of the market, Omega was delivering 4,000 finished residential lots per year. In addition to directing the activities of Omega Management, Mr. Smith was the qualifying party and general manager of a related general contracting company, Omega Construction, Inc., which was responsible for the management of $100M+ in infrastructure construction annually.
Job Titles:
- President
- Managing Director, Innovation Villas, LLC
Troy Harris is the President of Matrix Equities, Inc., and has the primary responsibilities for executing overall strategic goals and day-to-day operations of the Company, including investor relations, transaction management and financial structuring initiatives.
Prior to rejoining Larry Miller and Matrix Equities, Inc., Mr. Harris was a Managing Director with Alvarez & Marsal, Inc., and former Chief Investment Officer of Alvarez & Marsal Capital Real Estate, LLC. With over 25 years of experience, Mr. Harris brings a diversified background having gained experience globally across a myriad of business sectors, including real estate operations, structured finance, transportation, residential communities and construction, commodities, and manufacturing. Mr. Harris has participated in various large restructuring engagements involving significant commercial real estate positions and related operations, most notably, the Lehman Brothers Estate, a Fortune 500 transportation and shipping provider, several large money center and regional financial institutions, displaced hedge fund real estate assets, and a privately owned national homebuilder.
Mr. Harris has participated in more than $10B of real estate transactions that encompass investment operations, portfolio asset management, structured and municipal bond finance, joint venture and fund structuring, multi-agency entitlements, complex acquisitions and liquidations across all commercial and residential asset classes.
Previously, Mr. Harris served as Chief Operating Officer for Miller Holdings, Inc., a diversified real estate development and management company in Scottsdale, Arizona, where he was responsible for corporate management, asset operations, development, structured finance and joint venture relationships covering 50 single-purpose and operating entities, with more than $1.6B in value.
Prior to Miller Holdings, Mr. Harris served as Vice President of North American Operations, for Medallist Developments, an international developer of luxury and resort properties, which was a joint venture between professional golfer Greg Norman and Macquarie Bank Limited of Sydney, Australia. Mr. Harris managed the western region of the United States, Canada, and Mexico, which included active real estate developments, golf courses, and managed entities. Primary challenges included restructuring all previous acquisitions and developments to meet original proforma expectations, including repositioning captive builders to meet product demands, joint venture takeovers to meet investor expectations and exits.
Mr. Harris was previously Executive Vice President of SunChase Holdings International, in Phoenix, Arizona. During his 11-year tenure, he was responsible for the global and strategic management of all equity and financings, acquisitions, development assets and operating companies for this $2.5B private holding company. Significant transactions included the acquisition of the National Land Fund, a $1.2B public/private limited partnership with the RTC, various non-sector debtor-in-possession corporate financings, significant commercial loan portfolios, and various non-real estate operating companies in the timber and mining, manufacturing, transportation, entertainment and residential construction and development. Mr. Harris completed the first Community Facilities District authorization in the State of Arizona of $350M and a Community Services District authorization of $375M in California.
Mr. Harris began his career with Price Waterhouse International in Los Angeles, where his clients included the Walt Disney Corporation, MCA Records, Westwood One, Parsons Corporation, The Motion Picture Academy and the California Institute of Technology Foundation.
Mr. Harris received a bachelor's degree in economics/accounting and political science/business management from Claremont McKenna College. Mr. Harris is a member of the Urban Land Institute and past member of the International Council of Shopping Center Developers. Current advisory board member for the Kelly Gibson Foundation in New Orleans, and a past board member of the Great Hearts Academies and advisory board member of Republic Bank of Arizona