Mark W. Reiling, CRE, SIOR

President

Career History

  • 2005 to Present: Principal, Cassidy Turley
  • 1983 to Present: President, Towle Properties, Inc. Originated this real estate investment company. Acquired, renovated and/or developed nearly $200 million of land, office, industrial, parking, housing and retail properties. Provide third-party asset management services to investment property owners.
  • 2003 to 2005: Managing Principal, Colliers Turley Martin Tucker. Recipient of the prestigious Darrel Holt Professional Service Award.
  • 1987 to 2002: President and from 1993-2002 Co-owner, Colliers Towle Real Estate. Colliers Towle provided brokerage, property and facility management, appraisal, research and consulting services. Prior to 1994, company operations also included mortgage banking. Real estate experiences include consultation, expert witness testimony, selling and leasing commercial properties, asset management, investment reporting, construction and permanent financing, market research, development, historic renovation and syndication. Advisor to private and institutional investment property owners for their asset management plans and disposition strategies.
  • 1984 to Present: started The Towle Report, the first comprehensive real estate report on the Minneapolis St. Paul market. Mark continues to provide content to the report.
  • 1979 to 1983: Senior Account Officer, Citicorp Real Estate, Inc., Los Angeles, California. Construction and real estate lender to major developers in the western United States.

Education

  • Credit Analysis Training Program, Citibank N.A.
  • B.B.A. Finance, University of Notre Dame

Directorships

  • Franklin National Bank, Minneapolis (1984 - present)
  • University National Bank (2007 - present)
  • St. Thomas Academy (2002 - present)
  • Colliers Turley Martin Tucker (2003 - 2006)
  • Safari Club International – MN Chapter – Former Director & Treasurer
  • Counselors of Real Estate – MN Chapter Chairman (1997 - 2002)
  • NAIOP – National Association of Industrial and Office Properties – MN Chapter (Three times)
  • SIOR Twin Cities Subchapter President (2003)
  • Catholic Charities – Former Director
  • St. Paul Chamber of Commerce – Former Director
  • St. Paul Convention and Visitors Bureau – Former Director
  • Downtown Council of St. Paul – Former Director and Chairman

Memberships

  • SIOR – Society of Industrial and Office Realtors
  • NAIOP – National Association of Industrial and Office Properties
  • ULI – Urban Land Institute
  • CRE – Counselors of Real Estate
  • YPO – Young President’s Organization
  • MNCAR – Minnesota Commercial Association of Realtors
  • MSCA – Minnesota Shopping Center Association

Professional Designations

  • Counselor of Real Estate (CRE)
  • Society of Industrial and Office Realtors (SIOR)

Interests

  • Avid outdoorsman: North American hunting and fishing, Sporting clays, Downhill skiing

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Dawn M. Grant, CCIM, CPM, RPA

Senior Vice President

Experience

Dawn joined Cassidy Turley in 1990 as a vice president and general manager where she was responsible for the property and facilities management of a diverse portfolio of office, retail, and parking structure properties in CBD and suburban markets. Today, she is an asset manager for retail, office, and industrial properties, sits on the senior management committee, and serves as Operations Manager for the Minneapolis-St. Paul property management division. In this role, Dawn leads the property management teams and oversees performance on client accounts and staff development. In 2009, she ran the Minneapolis-St. Paul Cassidy Turley operations on an interim basis and led the managing principal search committee.

Dawn began her career in 1985 as a property manager for the Trammell Crow Company. Since 1997, she has also been a senior vice president of Towle Properties, Inc, an acquisition real estate investment and syndication company having acquired, renovated, and developed $81 million of office, industrial, parking, and retail property.

With more than 25 years of commercial real estate experience, Dawn is known for her ability to communicate among all parties involved in an investment property, including lenders, owners, and tenants. She is a past recipient of the local firm’s prestigious Darrel Holt Professional Service Award and Eagle Award, and in 2004, she was the recipient of the Minneapolis/St. Paul Business Journal’s Top 25 Twin Cities Woman Changemakers award.

Directorships

  • Young Life, Elk River, Executive Committee Member
  • Twin Cities Hearts & Hammers, Team Leader, Volunteer
  • Winners Walk Tall, Team Coordinator
  • Former Director of the Midway Chamber of Commerce
  • Former Director of the St. Paul Building Owners and Managers Association
  • Former Director of the Neighborhood House of St. Paul

Professional Affiliations

  • Certified Commercial Investment Member (CCIM)
  • Certified Property Manager (CPM)
  • Real Property Administrator (RPA)
  • NAIOP Commercial Real Estate Development Association, Member
  • Institute for Real Estate Management, Member
  • Commercial Investment Real Estate Development Association, Member
  • Minnesota Shopping Center Association, Member
  • International Council of Shopping Centers, Member

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Investments

Citywalk Parking Ramp

City Walk Parking Ramp

7th and Cedar Streets
Central Business District
St. Paul, Minnesota

view full description »

Recent News

Investment Real Estate: The Slide Gets Slipperier

Posted: Jul 10, 2009

The housing market will bottom when unemployment peaks. This is most likely to occur in early 2010. On average, there is 10-15% of additional price reductions yet to occur. At the low price end of the range, $200,000 and less, the decline may be only 5%. The largest adjustments are for those homes requiring jumbo mortgages and particularly for homes in the $1,000,000+ range. Here we are talking 20-25% price declines. The lack of liquidity is limiting the number of buyers.

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Who Has The Money?

Posted: Jan 30, 2009

Last rites were given to the CMBS market in the first half of 2008. Do not expect to see a resurrection in 2009. What once was providing approximately 25% of commercial real estate debt is at zero. CMBS AAA paper is trading around 13% as of mid-December, and BBB at rates in the mid 30% range. This is happening despite the fact that CMBS delinquencies over 30 days are 0.63% as of 12/15/08, but moving up. Sales of newly issued CMBS bonds totaled $12.2 billion in 2008 compared to $237 billion in 2007, per JPMorgan Chase & Co.

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2009 The Year Ahead

Posted: Jan 30, 2009

Investment sales in 2008 started off at an anxious pace as investors were figuring out where the market was going and trying to complete transactions at the same time. As the year progressed, the market’s direction became clear and activity diminished accordingly. According to Real Capital Analytics, U.S. investment sales over $5,000,000 during 2008 fell 56% from 2007 to $1,518,600,000.

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National Forecast Predict Bleak 2009 for Commercial Real Estate

Posted: Nov 06, 2008

A new national study of the commercial real estate industry forecasts that the market will bottom out in 2009 – and pretty much stay there for some time to come.

Emerging Trends in Real Estate 2009, from the Washington D.C.-based Urban Land Institute and PricewaterhouseCoopers LLP, says that commercial real estate will “then flounder for much of 2010, with ongoing drops in property values, more foreclosures and delinquencies, and a limping economy that will continue to crimp property cash flows.”

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Lean & Green

Posted: Oct 03, 2008

In commercial real estate, design and construction that adhere to LEED standards for energy efficiency and green building continue to be popular, but that doesn’t mean older buildings are being left out of the green revolution.

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Constrained Credit Slows Market

Posted: Jul 08, 2008

Last year at this time, the first signs of problems in the investment market were evident. An investor had placed a property under letter of intent and was getting an early start on his due diligence while the purchase agreement was being drafted. He figured he had 10-12 basis points of wiggle room if interest rates moved against him. During the following three weeks the 10 year Treasury moved 40+ bps and loan spreads increased by another 10 bps. The deal was doomed. He was not alone.

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What is on Mark Reiling's Mind?

Posted: Mar 12, 2008

I am on my way home from India, assimilating my experiences of this trip and comparing them with trips to China and Japan. The economic power of the world is will shift to the East this century, from the United States.

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Investment Market 2008

Posted: Dec 29, 2007

What a year for investment real estate. It started off smokin’ hot and ended up just above freezing. High leverage, low interest rates and loose underwriting fueled unbridled deal making. Debt continued to flow freely as it did in 2006. Then, out of the residential sector of all places, came the sub-prime storm.

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Opportunities for 2008

Posted: Dec 29, 2007

Investing in residential land and lots is a good opportunity for patient capital. Focus on the growth markets of the future and carefully judge the supply against various absorption scenarios. The first money in this space closed deals in 2007 to allow sellers to carry-back tax losses against the last three boom years. Did these investors discount enough? Land buys are a play in 2008. Expect to be in deal for 5 years +/-.

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Real Estate Investing for Retirement, It’s The Cash Flow That Counts

Posted: Aug 01, 2006

Living comfortably in retirement is not necessarily about how much money you have, it is about your cash flow. The millionaire earning 2.5% in the bank ($25,000) is surviving, the millionaire with 5% in bonds is doing better, and the millionaire receiving 8-10% in real estate is living well. Which millionaire do you want to be?

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