Megatel Capital Investments, the capital markets unit of The Megatel Group, has hired Andrew Nerney as regional vice president. Also, the company has added Joel Rickner and Stan Smrke as associate vice presidents to its internal sales desk.
DALLAS, Aug. 2, 2019 /PRNewswire/ — Megatel Capital Investment, the capital markets division of The Megatel Group, announced today that the company has hired industry veteran Andrew Nerney as regional vice president, responsible for external wholesaling efforts in the company’s northern territory. The company also added two associate vice presidents to its internal sales desk, Joel Rickner and Stan Smrke.
The expansion of MCI’s sales team comes on the heels of its recent announcement that it will begin to offer Delaware statutory trust investment funds tied to the parent-company’s “Rent Back” incentive program, which is designed to help bridge the gap between renting and homeownership by offering renters a credit of their previous year of rent to be applied towards upfront home purchase costs.
Megatel, which is an active homebuilder, has determined many potential homebuyers continue to rent due to a lack of funds to pay the often-considerable upfront costs associated with home ownership. Megatel believes the Rent Back incentive will help many renters buy their first home by mitigating these upfront costs.
“As The Megatel Group expands its business into the multifamily arena and its investment offerings to include complimentary Delaware statutory trusts, our sales team must necessarily also expand to support these efforts,” said Trey Hoppe, MCI’s executive vice president and managing director. “Andrew is a seasoned professional who brings a wealth of experience and contacts to our team, while Joel and Stan add significant muscle to our internal sales desk.”
The DST initiative and Rent Back program are part of Megatel’s push into higher density housing, including the acquisition and development of multifamily communities. The company will focus on acquiring stabilized multifamily programs with its DST offerings and introduce the Rent Back program to those properties. Megatel believes the Rent Back program will add greater value to the multifamily properties owned by its DST investors, as the program should drive greater occupancy and lower rent concessions, which are not available to renters who choose to participate in the incentive program.
Nerney joins the external wholesaling team as the regional vice president responsible for the northern territory, spanning 28 states from the Midwest to New England. He brings more than 25 years of experience in financial services, wholesaling various products including non-traded REITs, variable annuities and venture capital, among other investment offerings. Prior to joining MCI, Nerney was the national accounts director in charge of wholesaling for iSelect Fund and has also worked at Pacific Life, Fidelity Advisor Funds and Colonial Funds. He holds both FINRA series 7 and 63 licenses and graduated with a degree in business communication from Rhode Island College.
Rickner will support Nerney from the internal sales desk and brings more than 15 years of experience to MCI, most recently with Allstate Financial and previously with AIG, Texas Securities and Capitas Financial. Smrke has also been hired as an associate vice president offering internal support. He holds a degree in finance from the University of Oklahoma and has previously worked at Advisor’s Resource Company.
About Megatel Capital Investment
Megatel Capital Investment is the capital markets division of The Megatel Group, which is the parent company of MCI and Megatel Homes Inc. Megatel Capital Investment funds help fuel the construction of homes built by Megatel as an additional source of construction financing. Founded in 2006, Megatel Homes has emerged as one of the most successful homebuilders in the state of Texas. The company has had considerable growth, with more than 100 developments comprised of several thousand homes completed since its founding. http://www.mciinvest.com