“Katerra Snapshot” is a blog series where we share more information about the many products and services we are delivering for our wonderful clients. This month we moved forward with a long-planned leadership succession, launched a new social channel, and continued to make progress on a number of projects. We hope this update finds you well.
Katerra Appoints Paal Kibsgaard CEO and Raises $200M in New Round of Financing
Last week, we announced Paal Kibsgaard will take the reins as CEO once Michael Marks steps down on July 1. Paal joined Katerra last year as our Chief Operating Officer and has been involved with Katerra since 2016 as a member of our Board. Prior to joining Katerra, Paal was CEO of Schlumberger Limited, a multi-billion dollar international oilfield services company. Operational excellence will be the key to thriving as we come out of the COVID pandemic and we are excited to have a deeply experienced operator like Paal at the helm to guide Katerra going forth.
Paal succeeds outgoing CEO and co-founder Michael Marks. Under Michael’s leadership, Katerra has grown to be a multi-faceted, tech-enabled construction company with more than 6,000 multifamily units under construction and 8,000 employees worldwide. Since Michael started Katerra in 2015, our revenue has grown more than 20-fold and the company was recently named by the National Multifamily Housing Council (NMHC) as the top fifth builder in the United States. We are grateful for his service, vision, and leadership at Katerra.
We also announced a new round of financing of several hundred million dollars from the SoftBank Vision Fund. This capital will support the continued execution of our vision for smarter building and better communities, for everyone.
Follow us on Instagram
We are excited to share that we have launched a new social media channel on Instagram. Follow us at @katerra_inc for the latest product and project photos and videos.
The Benefits of Building With Wood
As mass timber continues to mature and grow as a mainstream structural material, awareness of the many benefits of building with wood grows as well. Read our recently updated white paper, The Benefits of Building with Wood, for the latest research on the health and economic advantages of building mass timber across a variety of applications and market sectors.
Diagonal Crossing is a 105-unit affordable housing development by Koelbel + Co. The community features 17 buildings with spacious, energy-efficient, tech-forward units with modern finishes, as well as a community-building offering a resort-style pool, fire pit, billiards, fitness center, and more. The 20-acre mixed-use project was approved by the City of Boulder to support the city council’s goal of reaching 15 percent affordable housing in the area.
Alexan Highlands is a 135-unit apartment community in Issaquah, WA. Katerra’s construction services team is delivering this project with increased efficiency through the innovative use of panelized systems and Virtual Design and Construction (VDC) enabled onsite coordination. As a result, Alexan Highlands is currently on schedule and under budget.
The units are built atop a two-story parking garage, with over 2,000-square-feet of amenity space included in the floors above. The project features sweeping views, a ground-level courtyard, an outdoor amenity space on the fifth floor, and a pool. Learn more about Katerra’s work at Alexan Highlands here.
Katerra is providing general contracting services for Kenect Phoenix, a 23-story residential tower with 320 apartment units and 8,000 square feet of ground floor retail and social/co-working spaces. Developed by Akara Partners and designed by Perkins + Will and RSP Architects, Kenect recently celebrated its topping out and is on track for completion later this year. The project will support the booming housing needs around the downtown Phoenix campus of Arizona State University as students and tech companies flock to the area.
Ballston Place Apartments
Katerra is providing renovation services at Ballston Place Apartments, a 383-unit property in the heart of Arlington, VA. The first phase of the renovation included an initial unit, Amazon locker-equipped lobby package room, and conference room. Katerra is nearing completion on an outdoor pool and amenity space, with custom-built integrated seating, pool house, lamella privacy screens, platform deck, and multiple pergolas, all of which came in under budget.
The Charles is a 20-story tower located in the heart of Buckhead, Atlanta on a complex, triangular site. The design team at Lord Aeck Sargent, a Katerra company, embraced these site constraints to inform the unique and dynamic qualities of the building and its landscaped triangular amenity deck. The Charles includes 56 luxury condominium units above structured parking and ground floor retail, creating an urban living experience that dramatically changes by orientation and view. Interiors seamlessly blend with exterior living, marked by the signature staggered balcony profile on the building’s Peachtree Street façade.