The Excelsior Group (TEG) is a full-service real estate firm offering boutique-level services to the Twin Cities area in the fields of management, real estate investments and advisory services, homebuilder lending, and development.
TEG’s foundation is rooted in a partnership formed between Kim Culp and Sheldon Wert in 1983 that lasted for more than 20 years. Together, Kim and Sheldon founded The Shelard Group, which began as a property management and leasing company focused on office and industrial properties in the Twin Cities. By 1995, Shelard managed ten million square feet of commercial space in the Twin Cities area. Along the way, Kim and Sheldon developed and acquired a portfolio of 700 multifamily units for their own investment. In 1997, Shelard assumed an asset management role for their portfolio, which swelled to 1,200 units over the next five years. In 2002, Shelard began to again deliver property management, expanding this service to nearly 1,000 units over the next three years.
In 2005, to facilitate succession planning, Kim and Sheldon divided Shelard into two companies – assigning half of its asset and property management portfolio to TEG. TEG began to provide property management services for approximately 750 units located in Minnesota and Wisconsin. That same year, TEG took advantage of the high demand for multifamily assets and sold 375 units in Wisconsin and 250 units in Florida.
One year later, in 2006, TEG welcomed Ted Glasrud as Executive Vice President. Shortly thereafter, Kim, Chris and Ted in collaboration with Stan Baratz and Kirt Woodhouse, established Opportunity Advisors, a family of opportunistic real estate investment funds totaling in excess of $100MM.
In September of 2014, Jim Jetland joined TEG as President of the Real Estate Advisory Team. Since then, the team has grown into a creative and dynamic group of professionals, focusing on advisory and agency work in the healthcare, office, and industrial sectors.
January of 2020 marked the introduction of Excelsior Creative, an affiliate of The Excelsior Group, led by Brenda Studt, Senior Vice President and Creative Director. Excelsior Creative is a boutique creative agency focused on branding and storytelling for real estate and real estate related businesses.
Today, TEG has experience owning and managing many types of real estate, including multifamily, industrial, office, retail, hospitality, and land. Current management contracts consist of more than 1.9MM SF of commercial real estate, nearly 5,000 apartment units, including 700 under development, 650 acres of raw land and 200 single-family home lots. In addition, the principals of TEG have developed in excess of 1MM SF of office, industrial, retail, multifamily, and residential real estate properties.
Further, TEG manages an affiliated family of investment funds for Opportunity Advisors – Opportunity Partners Funds III, IV, V and Co-Invest. Since its inception, TEG has provided strategic portfolio guidance to fund investors and third-party portfolio owners alike. Our active management style and many touch points in the market allow us to quickly identify opportunities and trends, and advise our clients accordingly. Each investment and portfolio is managed as though 100% of the equity is our own, a philosophy which has afforded TEG the privilege of managing more than $350 million of commercial assets to-date.
TEG strives to build a collaborative team of real estate professionals, and an environment where we all work together for the benefit of our clients. A sound process, broad network, operational expertise, and market knowledge combine to take our client’s assets to the highest level – ever upward.