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Episode 72: He was patient and persistent for 7 years to develop his dream property!

Episode 72: He was patient and persistent for 7 years to develop his dream property!

Preston Walls
Property Development

Preston Walls, Founder & CEO of Walls Property Management, joins True Multifamily to talk about his philosophy on homeownership and his experience with a project that took seven years to complete because of a land development play that didn’t allow him to build and improve upon it.

For Preston, this was a zero-cost option that cashflows, and with patience and perseverance, he was able to develop the property. After seven years, Preston completed a 61-unit building with incredible downtown views and skyline mountains.

Preston Walls
Property Development
Preston Walls

In his executive career, Preston has held leadership positions at Walls Property Group (Founder/CEO, >7 years) and Walls Property Management (Founder/CEO > 7 years). He is currently managing a portfolio of 75 buildings, valued at over $300 MM. Preston directed a ground-up, 42-unit Built Green Class A-Mixed Use project, including planning, permitting, tenant relocation, demolition, construction, leasing, and financing. He is currently building a 61 unit mid-rise multi-family project, in permit for a 59 unit site and renovating several existing value-add properties in Seattle.

Preston has managed syndication projects requiring additional equity capital, raising capital, negotiating terms and partnership agreements, partitioning risk, and managing equity and debt offerings to investors. He has also served as the project manager for dozens of building renovations.

Preston obtained a B.A. with a double major in Economics and English from Colgate University. He has served on boards and advisory councils, including Discovery Montessori and Lakeside School. Preston is also a contributing member of the Forbes Real Estate Council and Puget Sound Business Journal Leadership Trust.

In his free time, Preston can be found fishing, boating, wakesurfing, skiing, and spending time with his two children. Preston also enjoys volunteering with his favorite charity, The Goodtimes Project – whose vision is to create caring spaces for families who have been affected by childhood cancer.

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Episode 73: He created a Resident Experience Program to provide unmatched tenant service!

Episode 73: He created a Resident Experience Program to provide unmatched tenant service!
Episode 71: He's owned everything from skyscrapers to assisted living!

Episode 71: He's owned everything from skyscrapers to assisted living!