John Kelterer, RBF Consulting
Mr. Kelterer has his own Real Estate Advisory Firm. Mr. Kelterer represents private and corporate clients to assist in the enhancement of real estate assets to include repositioning of assets, asset valuation, acquisition, disposition, and overall strategic direction of real estate holdings. In this capacity, Mr. Kelterer not only advises on strategy but manages the implementation of asset repositioning to include construction where applicable. The clients include public companies as well as private investors. Additionally Mr. Kelterer is a partner and active participant in US Developments, a Charlotte based land Development Company which also specializes in golf course oriented properties.
From 2005 to 2009, Mr. Kelterer was a principal in the firm of McWalters and Kelterer. McWalters and Kelterer is a Real Estate Advisory firm specializing in providing its public and private clients with a variety of services intended to enhance the value of their real estate assets. One of the featured services of this firm was acquiring entitlements for clients, the largest of which was a 350 acre master planned community in the Inland Empire. The entitlement included 1860 homes, and 1.3 million square feet of Business Park. As part of his responsibilities, Mr. Kelterer managed the relationships with a number of private and corporate clients. At the time of the completion of the entitlements (2011) the market was not receptive to the sale of the asset. The project was put on hold but Mr. Kelterer has re-engaged with the owners of the 350 acre master planned community to update the entitlements and provide an exit strategy to monetize the asset. As part of the firm’s assignments, Mr. Kelterer also acted as an advisor to California State University Fullerton in their search for a South Orange County Campus as well being involved in the acquisition of other properties. He was very involved in the initiation of the new Specific plan which was joint ventured with the City of Fullerton and covered the property between Nutwood Ave. and Chapman Ave, occupied by Hope International University, existing CSUF properties, and privately owned student apartments.
Prior to the formation of McWalters and Kelterer, Mr. Kelterer founded Benchmark Development Company in 1995, where Mr. Kelterer served as its President and CEO. Benchmark was the Master Developer of a 5000-acre master planned community known as Rancho Santa Margarita located in South Orange County, California. Rancho Santa Margarita had in excess of 15,500 residential units, 7.5 million square feet of commercial, industrial and retail space, and numerous parks, walking trials, and recreational amenities. Mr.Kelterer originally financed the project in 1985, while at Merrill Lynch, and was asked by the institutional investors (Copley Real Estate Advisors on behalf of New England Mutual Life and Harvard Capital) to return to the project in 1995 to finish the buildout. At the time the project was severely overfinanced, sales had dwindled to a few, and other serious problems existed. This caused the investors to take the project back. Since that time, in excess of $135 million in debt was repaid; public financial instruments were restructured; illiquid partnerships were terminated; overhead was cut to manageable levels; adjustments (including significant re-entitlements) were made to the business plan to increase revenue; and assets were sold in an orderly manner. When the project concluded in the year 2003 the investors received in excess of $100 million in net distributions. These distributions were after the payoff of all debt as well as the complete return of capital and preferences.
Mr. Kelterer also served as a development consultant and advisor on four planned communities in Northern and Southern California. Mr. Kelterer worked with the Chapman Family in the planning and structuring of Chapman Heights, a 2000 acre planned community in Yucaipa, California. He also served as an advisor to Teichert Construction and Pacific Coast Building Products with respect to their ownership interests in Serrano at El Dorado and The Parkway in Folsom, Ca. Mr. Kelterer also represented Phoenix Capital Partners in the liquidation of their partnership interest in the planned community of Rio Vista in Cathedral City; Ca. Entitlement issues were prevalent in all these assignments.
Mr. Kelterer was also the Managing Principal of Mandalay Bay Partners, L.L.C., a development entity formed to entitle and develop 136 acres of agricultural property located adjacent to Channel Islands Harbor in Ventura County, California. Full entitlements for this project, including California Coastal Commission approval, were completed in 2004. It is a waterfront oriented planned community of 708 residential units, 20 acres of commercial development, and channel improvements to accommodate in excess of 500 boat slips. In all there are over 60 acres of visitor serving commercial and open space. This project was sold to D.R. Horton in April 2004.
Mr. Kelterer’s background includes 16 years at Wells Fargo Bank where, as Senior Vice President, he founded the Southern California Division of the bank’s Real Estate Industries Group. The Southern California Division grew to generate in excess of $3 billion in annual financings from 1976 to 1981 throughout four offices and a staff of approximately 125 people. Mr. Kelterer ultimately became Deputy Group Head where he had responsibility for the management of the entire statewide group with annual financings in excess of $5 billion.
After leaving Wells Fargo, Mr. Kelterer was a partner in Merrill Lynch Private capital, a subsidiary of Merrill Lynch Capital Resources. In his capacity as Los Angeles partner Mr. Kelterer engaged in invest baking and merchant banking activities providing services to ultra- high net worth individuals.
A native of San Francisco, Mr. Kelterer is a graduate of Santa Clara University where he received a Bachelor’s Degree in Science and Commerce. He received his MBA from the University of San Francisco. Mr. Kelterer also attended the Executive Financial Management Course at Stanford University.
Mr. Kelterer is currently a member of several professional organizations including the ULI, and the NAIOP, including prior service as a Board member of NAIOP. He served on an advisory board to the Dean of the Business School at the University of California, Irvine and taught for 15 years a course in Real Estate Development in the Merage Graduate School of Business at UCI. Mr. Kelterer also taught Finance in the MBA program at Santa Clara University. Currently Mr. Kelterer is an adjunct professor at Chapman University.
Mr. Kelterer resides with his wife and daughter in Laguna Niguel, Ca.