Word: oaksbranch
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Dates: during 1999-1999
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...first deal was by any measure a sweet one. He and his partners, which include his brother Charles, now Oaksbranch's president, and his friend Mike Starcher, noticed that a single-tenant office building was significantly undervalued. "At that time, the market was still slightly depressed from the real estate crash in the late 80's," Pettigrew says...
...setting up a buyer in advance, the group moved on the deal. They borrowed most of the money from a bank and the down payment from Pettigrew's father's company. After two years, as planned, the building was bought by a Post Office for 80 percent more than Oaksbranch had paid...
Pettigrew's brother, Charles, the president of Oaksbranch and a civil engineer, acknowledges that some of the investments, including an industrial property yet to be sold, would be considered high risk...
Pettigrew, a history concentrator from Arlington, Texas, spends from five to ten hours a week working on projects for his business, typically working more hours during vacations. He would like to continue with his commitment as Vice President of Oaksbranch after college, though he is also weighing other options, including graduate school and other jobs in business...
Someday, "Oaksbranch will require full-time commitment, and he would love to devote himself to its growth and success," Charles says. "There are more deals on the horizon, and even opportunities to diversify...