Prior to founding Pendo, Mr. Buchhagen was Co-founder and Managing Director of Legg Mason Real Estate Investors, Inc. (“LMREI”). At LMREI, Mr. Buchhagen was a member of the Investment Committee and responsible for originating and asset managing equity and debt investments. Mr. Buchhagen successfully led the investment of over $2.5 billion in investments on behalf of fund investors, which included major pension funds, insurance companies, corporations and sovereign funds. Portfolio investments consisted of all major property types, including multifamily, hospitality, office, industrial, retail and student housing. Mr. Buchhagen was also responsible for over $600 million in loan restructuring and led the asset management of a portfolio of over $800 million CRE assets (6,300 multifamily units; 560,000 sf office; 2,500 hotel rooms).
Prior to forming LMREI in 2000, Mr. Buchhagen was a Principal with Prudential Carbon Mesa (“PCM”), where he worked as a Managing Director in the structured finance division. At PCM, Mr. Buchhagen was responsible for pricing, structuring, underwriting and managing bridge and mezzanine loans. PCM’s portfolio consisted of $432 million of value-add real estate debt investments.
Prior to PCM, Mr. Buchhagen was a Vice President for ING Barings Real Estate Finance (ING). At ING, he worked in both an acquisition and asset management capacity with assets in the United States and Canada. In that role, he was responsible for equity investments in excess of $500 million. ING managed and invested in both real estate equity and sub-performing debt. Additionally, Mr. Buchhagen managed assets in a $325 million fund of performing, non-performing and sub-performing debt in partnership with the FDIC.
Prior to ING, Mr. Buchhagen worked in both an asset management and acquisitions capacity at Lennar Partners, Inc. and the Morgan Stanley Real Estate Fund (“MS REF”). In that role, he was responsible for equity and debt investments in excess of $400 million and participated in the securitization of loan portfolios and “B” piece acquisitions. During Mr. Buchhagen’s tenure, MSREF’s portfolio consisted primarily of real estate equity and distressed debt, including assets acquired from Union Bank, Industrial Bank of Japan and Bank of California.
In addition to his institutional experience, Mr. Buchhagen has successfully managed a $200 million “friends and family” portfolio since 1997, acting as the Managing Member for each of the individual partnerships and is responsible for the acquisition, financing, asset management and disposition of the properties. On average, the properties have generated 20%+ returns to the investors.
Prior to joining Pendo, Mr. Kardos was a Vice President at Legg Mason Real Estate Investors, Inc. (“LMREI”) and was responsible for sourcing, pricing, structuring, underwriting and closing equity and debt investments. At LMREI, Mr. Kardos led the investment team for the West and Southwest regions of the United States and closed of over $700 million in transactions for property types including multi-family, retail, office, industrial and hospitality. Mr. Kardos’ duties also included asset management and loan restructuring, managing a portfolio of over $400 million CRE assets.
Mr. Kardos graduated magna cum laude from the University of Southern California, B.S. with a concentration in finance.
Prior to joining Pendo, Mr. Perkins was an Associate Vice President at Legg Mason Real Estate Investors, Inc. (“LMREI”) and was responsible for sourcing, pricing, structuring, underwriting and closing equity and debt investments. At LMREI, Mr. Perkins was involved in the origination and closing of over $175 million in transactions for property types including multi-family, retail, office, industrial and hospitality. Mr. Perkins’ duties also include asset management and loan restructuring, managing a portfolio of over $250 million in CRE assets.
Prior to LMREI, Mr. Perkins worked in land acquisitions for KB Home where he was involved in the sourcing, underwriting, and closing of over $150 million in vacant and in-fill land acquisitions for residential development. Mr. Perkins received Bachelor of Arts degrees in Business Economics and History from the University of California, Los Angeles.