Molly Bordonaro and Kelly Saito Announced as Managing Partners
Jan 30, 2017
Portland, OR – Gerding Edlen announces the appointment of Molly Bordonaro and Kelly Saito as Co-Managing Partners, effective January 1, 2017. In addition to their current responsibilities of managing Gerding Edlen’s investment strategies and the Firm’s co-mingled, real estate funds, Bordonaro and Saito will now take on the full management of the Firm’s activities.
In making the announcement, Mark Edlen stated, “it is time for new leaders to take the reins and lead the firm into the future. Molly and Kelly are exceptional people who have, over the years, demonstrated an incredible work ethic and dedication to our customers, investors, employees and community partners.” While Edlen will remain active on the Firm’s investment committee and continue to serve as Chairman of the Board of the firm, he will no longer manage the day to day operations.
According to Bordonaro, “Mark has pioneered sustainability in the built environment. He has changed the skylines of cities and has led Gerding Edlen with a deep commitment to give back to communities including his numerous contributions to Portland.”
Edlen co-founded the firm in 1996 with Bob Gerding, who died in 2009. “Bob and I had a shared passion for the built environment, natural resources and a commitment to the next generation. We wanted to create a firm that existed beyond the two of us and unfortunately it simply went beyond Bob much too soon.”
Both Mark and Bob championed the belief that the path to preserving the environment leads directly to a new urban reality, where transformative buildings and quality assets foster communities. Gerding Edlen originated the 20-minute living concept and established a set of criteria called Principles of Place—where community plays a pivotal role alongside design and technology in the success of their properties. These values continue to guide the firm today and are on the walls of their Portland headquarters, along with an inspirational quote from Bob Gerding that reads, “we need to continuously re-imagine the city, and the ways we live in it. It’s a spiritual question of doing what is right to accomplish that vision so the next generation can build that future.”
Here in Portland, the Firm’s projects include the Brewery Blocks, Wieden+Kennedy, OHSU Center for Health and Healing along with multiple buildings in South Waterfront, Vestas’ North American Headquarters, Central City Concern Broadway Recovery Center, multiple buildings on the PSU Campus, Indigo @ Twelve | West and Pacific Northwest College of Art, as well as numerous affordable housing projects. “Throughout our growth, I have always been proud of Gerding Edlen’s work in public/private partnerships,” states Edlen. “Through these partnerships we have delivered affordable housing to some of the neediest in our community, completed drug and alcohol rehabilitation clinics for those battling addiction, and managed educational projects for those who are working to expand their world through higher education.”
Nationally, Gerding Edlen has established a reputation as one of the nation’s foremost mixed use, urban in-fill, transit-oriented sustainable development firms. Through the efforts of Saito and Bordonaro, Gerding Edlen’s base of operations has grown from Portland, to a firm that conducts business in Los Angeles, San Francisco, Portland, Seattle, Boston, Chicago and Hawaii. As early proponents of sustainable building, Gerding Edlen has more than 75 LEED certified or certified pending properties in its portfolio, including the first LEED Platinum historic project, named in honor of Bob and Diana Gerding.
“I am incredibly proud of what we have accomplished over the years,” states Edlen. “It would not have been possible however, without the hard work and resolve of so many people from both within Gerding Edlen, as well as our partners.
According to Edlen, “there are no two people better qualified than Kelly and Molly to steward the next generation of leadership at Gerding Edlen.” Saito was one of the first employees of Gerding Edlen and has significant experience in every aspect of development and construction, contributing to the expansion of the Firm’s footprint and national reputation. Since she joined Gerding Edlen eight years ago, Bordonaro has been instrumental in pioneering the Firm’s investment management business. In the past seven years alone, Gerding Edlen Investment Management and its co-mingled, real estate funds have amassed a portfolio of 22 buildings within seven, high growth urban U.S. cities, totaling 2,490 apartment units, 1.2M square feet of office space and a total asset value of $1.7 billion.
Looking to the future, Gerding Edlen will continue to cultivate its expertise in creating and owning exceptional apartment, office and mixed-use properties that add value to the environment and communities in which they work.
About Gerding Edlen
Considered a leading firm in real estate investment, development and asset and property management, Gerding Edlen is committed to creating and owning highly sustainable properties that positively reflect lifestyles of the future and add value to communities. This commitment has led the firm to become a recognized national leader of sustainable development, which includes more than 75 LEED certified or certified pending properties.
Molly Bordonaro joined Gerding Edlen in 2009 and was named a managing partner in 2017. For eight years, Molly has pioneered and led the Firm’s investment management practice, which includes the co-mingled, real estate funds and asset management group. She has more than 15 years of commercial real estate experience with expertise in transactions, financing, management, leasing and fund development.
Prior to joining Gerding Edlen, Molly was a principal in the Portland office of The Gallatin Group, and served as the United States Ambassador to the Republic of Malta. She began her real estate career as a broker at Norris, Beggs and Simpson. Molly earned a BA degree from the University of Colorado.
Kelly Saito was among the first employees of Gerding Edlen, hired during the Firm’s first year of operations in 1996, and was named a managing partner in 2017. During his 22-year professional career, Kelly has overseen the expansion, diversification and performance of the Firm’s acquisitions and development operations, including the execution of design and construction. His areas of expertise include project sourcing, feasibility, financing, planning, construction, marketing, leasing and property operations.
Prior to joining Gerding Edlen, Kelly was a commercial real estate broker at Cushman & Wakefield. Kelly earned a BA degree in Business Administration, Finance and Marketing from the University of Oregon