Our Team
Joshua S. Broker
Joshua Broker has over 25 years of experience in real estate and investment banking, including equity and debt capital raising, M&A, asset management and financial restructuring. Prior to forming his own advisory company, JS Broker, LLC in 2007, Mr. Broker was a member of MJC Associates, a private equity-backed real estate advisory company. Mr. Broker was formerly a Vice President in Real Estate Investment Banking at Merrill Lynch & Co, where Mr. Broker worked both in New York and London. Over his career, Mr. Broker has completed over $9.0 billion of equity, debt and M&A transactions for REITs and other public and private real estate and hospitality companies across a variety of sectors.
Mr. Broker has acted as an external Chief Financial Officer and Asset Manager for several privately held real estate and private equity-backed finance companies, overseeing acquisitions and dispositions, capital raising, refinance and loan restructuring, lease negotiation and expense recovery.
Mr. Broker received his B.A. from Amherst College, a graduate diploma from the London School of Economics and an MBA from the Yale School of Management. He has held Series 79 and 63 licenses. He is a Trustee of the Solomon & Sylvia Bronstein Foundation and Board member of Beth David Synagogue, where he served on the Executive and Finance Committees and as Co-Chair of the Challenge Campaign.
Patrick J. Sullivan
Patrick Sullivan has over 30 years of diverse senior level leadership positions at leading real estate private equity firms. He has led in excess of $10.0 billion of restructuring of debt issued by real estate operating companies, portfolios and assets, and has represented lenders and borrowers in these restructurings. Mr. Sullivan is the founding partner of Woodbourne Capital Partners, a real estate investment advisory firm. Previously, Mr. Sullivan was a Managing Director and General Partner of Warburg Pincus and was a key Principal in the firm’s $1.2 billion real estate fund. Prior to Warburg Pincus, he was a General Partner of JP Morgan Partners (formerly Chase Capital Partners) an $8.0 billion private equity partnership where he was responsible for the US real estate practice. He was previously a Director and Partner of AEW Capital Management.
Mr. Sullivan has an A.B. in Political Science from Vassar College. He also serves a member of the Investment Committee of Xaverian Brothers High School in Westwood, MA. He has also served on numerous boards.
Stuart A. Margulies
Stuart Margulies has over 34 years of private equity, asset management and real estate finance experience across all property types.
Prior to founding Ascent Real Estate, a private real estate advisory practice, Mr. Margulies served over two decades as the head of Asset and Portfolio Management at Lubert-Adler Partners, a real estate private equity fund manager with $8.0 billion under management in seven funds. In conjunction with a variety of operating partners, he oversaw the acquisition, financing and development of hotels, resorts, multifamily, self-storage and retail properties across the country and internationally.
At Lubert-Adler, Mr. Margulies chaired the Asset Management committee, whose primary functions were to maximize asset values through the successful execution of asset level business plans and oversight of operating partner relationships. Additionally, he was an officer of the General Partner and a member of both the firm’s Compliance and Valuation committees.
Prior to Lubert Adler, Mr. Margulies was a commercial banker and Special Assets officer for First Union National Bank.
Mr. Margulies holds a BA in Economics from Franklin & Marshall College and an MBA from Temple University’s Fox School of Business and Management. He is an Advisory Board Member of the Trust for Public Land in Philadelphia.