Tuesday, September 09, 2014

a revisitation of Sutton Turner's career at one time recounted in LinkedIn, part 1 The Wentworth Companies January 1998 to December 2003

A while back Wenatchee The Hatchet discussed Sutton Turner's background to give readers some sense of where he came from by the time he became an executive elder at Mars Hill
http://wenatcheethehatchet.blogspot.com/2014/01/a-rambling-trip-through-early-companies.html

http://www.linkedin.com/pub/sutton-turner/12/525/91b

Well, the profile kinda doesn't exist at the moment.

As Mars Hill has taken up recycling Driscollian content on Spiritual Warfare in the last month or so permit Wenatchee The Hatchet the luxury of revisiting Sutton Turner's trajectory toward executive eldership through entries formerly available at the formerly available LinkedIn profile, in a broad chronological order.

THE WENTWORTH COMPANIES
Chief Executive and Co-Founder

The Wentwood Companies

Privately Held; 51-200 employees; Real Estate industry
January 1998December 2003 (6 years)
Start-up property management and construction company that was spun off from Graewood Capital Partners, LP and that grew from 2 to 240 employees. Divested company of Property Management and Construction Divisions to form Mission Housing and Madera Construction.

Led company through annual strategic planning and day-to-day activities. Participated in after-action review and analysis of real estate acquisitions, including profitability, spin offs, future acquisitions and lessons learned. Oversaw draw process, monthly accounting payment and contract revision approval. Drove internal technology initiatives to streamline, redesign and automate operations and workflow. Selected as beta tester for property management web-based cutting edge industry software. Held P&L accountability with 6 direct and 234 indirect reports.

• Achieved average gross margin of 24%, including a start-up year loss, with gross revenues averaging $1.5M per year for six years.
• Took start-up from 5 to 24 properties in 7 states by focusing initiatives around team of turnaround employees who took over and managed properties quickly in any U.S. city – in 48 hours or less.
• Cut employee annual churn to 46% with industry average above 100% by initiating Team Member programs, including 401K, long term disability, performance bonus system, Work from Home program, and family health coverage.
 
Here's a brochure.  Of brief note is this:

In 2001, Wentwood shifted focus to properties financed with Low Income Housing Tax Credits (LIHTC).

 
 
There's also an old 1997 article
 
A "Big D" investment group is doing some big spending on Columbus apartments.
Affiliates of Dallas-based Wentwood Cos. have purchased four North Columbus apartment complexes totaling 1,511 units for $32 million.
 
The affiliated partnerships purchased the Laurel Lakes, Abbey Lane, Breckenridge and Old Nantucket apartment complexes March 27 from affiliates of Sentinel Real Estate Corp., a New York City institutional investment advisory firm. Sentinel had held the complexes for more than 10 years.
The new owners secured the $27.1 million cost of the real estate with $26.6 million in mortgages from Atlanta-based Column Financial Inc.
 
"We're very bullish on Columbus," said Wentwood President J. Sutton Turner. "It's a very stable market." ...
 
and having reviewed that ... going forward ...

1 comment:

Austin5496 said...

I am Robert Turner, Chief Executive Officer of The Wentwood Companies, which I founded in the early 1990's. My brother, Sutton brother, was hired by me in 1996 as an analyst and later was tasked with running property and construction management services. In 2003 we partially separated with Sutton taking property and construction management services into a new company (Mission Housing) while I retained rest of the company and all of the properties (Wentwood Companies). After the separation, Sutton continued to manage properties for Wentwood via a contract. In August 2006, all contracts with Mission Housing were terminated. Since that time, there has been no connection between Wentwood and Sutton, who subsequently shut down Mission Housing and left the country. I still own and manage the Wentwood Companies in Austin, TX.