President & Partner
Scott Sternberg, the founder and sole owner of the PMI Group of Companies, has developed an impressive array of skills in the real estate industry through hands on experience over the last two decades. The PMI Companies include PMI Financial, Inc., a licensed brokerage firm responsible for consulting, sales, and financing, PMI Equities Corp., which is primarily involved in development, and PMI Management, which is responsible for the direct management of all properties in which PMI is involved. Under Mr. Sternberg’s leadership, PMI has been involved in hundreds of millions of dollars of transactions involving residential and commercial properties in numerous states and Canada. PMI extends its involvement through virtually all aspects of the real estate industry including owing, developing, financing rehabilitating and managing real estate. Having such extensive experience allows Mr. Sternberg to seek investment opportunities in whatever real estate activities present the best risk adjusted returns given the current economic conditions.
Mr. Sternberg brings innovative, yet practical ideas to any real estate deal. He has either individually, or through PMI, been directly involved in acquiring, managing, exchanging, building, rehabilitating, repositioning, leasing, financing, and disposing of thousand of apartments, hundreds of condominiums, numerous low and high rise office and medical buildings and shopping centers including regional malls, subdivisions involving thousands of acres of land, as well as mixed use projects. In addition, Mr. Sternberg has dealt extensively in the areas of debt restructuring, the purchase of discounted debt, entitlements, property tax appeals, and insurance recovery. Prior to PMI, Mr. Sternberg acted as principal with CIA Properties. Through extensive asset management of a portfolio in excess of $60 million, he was able to develop many of the skills that he today utilizes with PMI, skills proven to be successful through all economic conditions.
Mr. Sternberg was a Dean’s list scholar and graduated from the University of California Santa Barbara with a Bachelor of Arts, Business Economics, Magna Cum Laude. While attending college, he was initiated into the California chapter of the Omicron Delta Epsilon, the honor society in Economics, in recognition of his high scholastic achievement in the field of Economics. He has continued to enhance the many scholastic achievements he has obtained by responding to the changing real estate environment through advanced real estate courses at the University of California at Los Angeles and the Wharton School of Business, University of Pennsylvania. Mr. Sternberg also holds a real estate brokers license in the state of California.
Jeffrey Elliot Palmer
CTO and Partner
Jeffrey Palmer is responsible for the partnership’s strategy, planning, and product development. In the early 1990’s, Mr. Palmer headed the company’s acquisition program that purchased REO properties from banks and financial institutions during the real estate recession. While at PMI in the mid 1990’s, Mr. Palmer helped pioneer creative offices in Los Angeles. During that time period, he oversaw PMI’s re-development of Penn Station in Santa Monica, a converted warehouse property that is still considered the seminal multi-tenant creative office building in Los Angeles. Mr. Palmer also pioneered soft creative conversions of traditional office buildings by exposing their structural elements, opening the ceilings, and installing industrial finishes. In San Francisco after the dot com bust, Mr. Palmer is one of those credited in helping revive SOMA and reestablishing it as a dominant technology cluster. His experiment of creating one of the first buildings in SOMA catering exclusively to startup technology companies was a feature article in the Wall Street Journal in August 2010. The sale of two of the SOMA creative office properties in 2013 was described by the San Francisco Business Journal as record breaking for converted warehouses.
In 1993, prior to PMI, Mr. Palmer operated a business in partnership with Charles Dunn Company that served as court appointed receivers at the request of major financial institutions. From August 1988 to May 1992, Mr. Palmer served as Chief Operating Officer of Columbia Savings and Loan’s real estate division where he was responsible for the management and liquidations of the institution’s remaining $550 million dollar real estate and REO portfolio. Mr. Palmer served in this capacity through three managements including Columbia’s original owners, the Office of Thrift Supervision’s appointed management, and the Resolution Trust Corporation. From May 1984 to October 1988, Mr. Palmer was Chief Operating Officer and directed Columbia’s successful value enhancement portfolio which acquired over 2 million square feet of shopping centers, industrial parks, and office buildings for renovation, releasing, and sale within three years. Mr. Palmer also served on Columbia Savings’ loan committee.
Additionally, Mr. Palmer served as President of Wallace Moir Properties, a firm he founded with the Wallace Moir Company, which acquired and syndicated over $100 million of income property renovations through national stock brokerage firms. From February 1980 to July 1983, Mr. Palmer was Executive Vice President of Wallace Moir’s development company that built over 500,000 square feet of commercial space and 200 condominium units. From 1977 to 1980, Mr. Palmer served as vice president of a division of Kaufman and Broad where he was responsible for the acquisition of over 3,000 apartment units.
Mr. Palmer graduated with an MBA with distinction from the Wharton School at the University of Pennsylvania and Summa Cum Laude with a B.A. in Economics from the University of California at Los Angeles. Mr. Palmer has published numerous articles and served as editor for the Real Estate Investment Advisor Council’s real estate report and has moderated annual deal making conferences. On August 27, 2012, the Los Angeles Business Journal profiled Mr. Palmer as a pioneer in the development of creative office and tech properties in the Annual Who’s Who in Los Angeles Real Estate. Mr. Palmer currently is working on the creation of “creative apartments” that incorporate many of the design features popular in creative offices and contemporary lifestyles.
Chief Operating Officer & Partner
Dennis Genova is charged with the responsibility of implementing and overseeing all of the operations of the Commercial and Residential divisions. He comes to PMI with over twenty years of senior level real estate experience.
In the late seventies he became the head of the Leasing division for the fifteen states where the Company was doing business. This venture developed and leased malls from 300,000 to 1,500,000 square feet. In the early eighties he was the managing partner of Alden Development, a Los Angeles Company that specializes in the development and construction of commercial and residential buildings. In the mid eighties Mr. Genova became President of Mcdade/Shidler Management Group. This Company owned and operated1,500,000 square feet of commercial properties throughout Southern California and had a staff up to 70 people. The value of these properties exceeded $250,000,000. The nineties saw Mr. Genova as Chief Operating Officer of Fab Enterprises. In this capacity many hats were worn. He was responsible for the acquisitions of apartment communities, the hiring of management personnel, the renovation and operation of these properties. This portfolio has a value in excess of $200,000,000.
The above experience provides him with the tools to successfully implement the business philosophies of PMI. This extensive experience through development, leasing, financing, construction, managing and disposing of residential and commercial real estate for his own account, gives him a full circle knowledge of the real estate business. Mr. Genova holds a Bachelor of Arts degree from Loyola University. In addition, he holds a Juris Doctorate degree from the University of Los Angeles, School of Law that has proven invaluable as a tool for the ever- growing legal issues in the real estate business. He currently holds a real estate license for the State of California and has been a panelist on numerous UCLA real estate courses and seminars for the real estate industry as an expert on renovation and the leasing of older buildings as a profit center.
Chief Financial Officer
Carlos Falcis started working for PMI in November 2007 as a senior accountant working directly under the CFO and Scott Sternberg. He earned his BS in Accounting from De La Salle University in Manila in 2004. He passed the CPA board exam in the Philippines shortly after graduation and moved to Los Angeles in 2004.
Gabrielle Hakimian Ipale
Director of Asset Management
Gabrielle Hakimian is responsible for all asset management functions across PMI’s commercial portfolio in Southern California and San Francisco, as well as its Creative Multifamily portfolio in Los Angeles. She is involved in strategic planning, lender financing and financial analysis, and oversees all leasing and reporting on asset performance to PMI’s stakeholders. She has diverse domestic and international commercial real estate experience, across office, industrial, and mixed-use assets. Prior to joining PMI, she managed real estate transactions for The Walt Disney Company by planning and executing on strategic solutions throughout the United States. Also, while working with Jamison Service, she directed all daily operations and property management, with responsibilities for over 1- million square feet of office, retail, and parking in Downtown, Los Angeles.
Gabrielle completed a Master in Real Estate Development from New York University where she worked on development projects in India and Chile, and earned a Bachelor of Arts in Communication with a pre-law concentration from the University of Southern California. She holds a California Salesperson license, and is a member of the Urban Land Institute and is actively involved with the non-profit JDC-Entwine.
Cheryl Ann Legan
Cheryl Legan holds a Bachelors degree in Business Administration from the University of Arizona in 1975 with completed majors in finance, accounting and economics. Her graduate study includes Real Estate Law, Shopping Center Development and Estate Planning.
She has eight years in public accounting with an International “Big Six” accounting firm with emphasis in real estate partnership taxation, syndication and business management for high net worth individuals. Additionally, she has ten years experience with a major California real estate developer as controller for various divisions including commercial property management, real estate workouts and residual asset management.
Ciji Ripoll is responsible for overseeing and managing our creative portfolio of office and industrial space, including the day-to-day operations, tenant and vendor relationship, rent control, lease administration, maintenance strategies, and vendor contract negotiations. In addition, she oversees a maintenance staff and prides herself on her ability to strategically and quickly resolve building and tenant related issues.
Her vast management and accounting experience in the real estate industry gives her the tools to enhance property weaknesses by turning them into strengths by way of implementing practical solutions that ultimately result in long-term cost savings. Ciji holds two real estate licenses from California and Florida. She brings ten years of diverse real estate experience, including nine years of managing an array of retail, office, industrial, association, mixed-use, vacant land, and residential properties. She is highly skilled at preparing and managing annual budgets, reconciling annual expenses, and negotiating contracts.
Her background also includes overseeing capital and tenant improvement projects, as well as negotiating lease renewals. As a Realtor in Florida, she engaged in many forms of real estate transactions including leasing, selling, and purchasing residential and commercial properties, as well as business-to business transactions.
Assistant Director of Acquisitions
Dan Tibbett graduated from the University Of California, Los Angeles in 2010 with a Bachelor’s degree in English. Working directly with Mr. Palmer, he supervises the underwriting, due diligence, and construction management of PMI’s Creative Multifamily program. Mr. Tibbett’s responsibilities include the evaluation of multifamily investment proposals, coordination with brokers and property management on potential and current investments, oversight of diligence efforts through all stages of acquisitions, and the maintenance of PMI’s current pipeline of projects.
Christine Damian graduated from the University Of California, Los Angeles in 2008 with a Bachelor’s degree in Communication Studies. Ms. Damian’s responsibilities include property due diligence and closing, renovation payable disbursements, loan processing and closing, cash management and budgeting.