About Our Company

Overview

Woodspear Properties was formed by John Woodward and Steven Spierer in 1981 (originally as a California general partnership). It was originally known as Vermont Properties, named after a successful investment made by the partnership. However, due to name confusion, the name was changed to Woodspear in the late 1980’s. Originally, Woodspear Properties contracted out all of its property management function to fee managers. Due to general dissatisfaction with the performance of these fee managers, Woodspear added the property management business line to its successful investment business in the late 1980’s. The emphasis for Woodspear is, and will continue to be, selective acquisition of real estate investments into its portfolio and professional management of properties in which it has an ownership interest.

Woodspear PM-Member, LLC (a Colorado limited liability company) does business as Woodspear Properties. It is beneficially owned fifty percent by Steven F. Spierer and fifty percent by John A. Woodward, who both serve as its officers. It currently controls and operates approximately 2,550 apartment units, one office building, fifteen industrial projects, one shopping center, and a few land/redevelopment projects in Southern California, Colorado, Phoenix, and Western Washington State.

Woodspear’s investment and property management activities are supervised by Director of Acquisitions, Craig M. Lessard and General Counsel, Zakary A. Kessler. Woodspear currently employs a staff of approximately ninety employees, including an in-house accounting staff located in the San Marcos, California property management office. Mr. Lessard and Mr. Kessler are responsible for all budgeting, financial reporting, implementation, and personnel decisions relating to Woodspear. Mr. Woodward serves as the main ownership representative regarding day-to-day decision making, as necessary, with Mr. Lessard and Mr. Kessler. All major property acquisition and management decisions are made by Mr. Woodward and Mr. Spierer, with the input of Messrs. Lessard and Kessler.

Woodspear Properties anticipates adding one to four properties each year to its portfolio. As a general rule, the company’s philosophy is one of buy and hold, rather than short-term trading.