Principals

John Foreman

President and CEO
John has been advising clients in the real estate consulting business for the last thirty (30) years. Prior to the formation of DPFG, Inc. in 1991, John spent nine years (9) in tax, audit, and consulting positions with the national accounting firm of Kenneth Leventhal & Company.
During the course of his career John has accumulated significant industry experience in areas such as; valuation of multiple land uses, public/private sector negotiations, cash flow analysis of projects and portfolios, development cost evaluations, entitlements to development, public finance applications on development, litigation support, redevelopment district development ,expert witness testimony, development impact on school districts, land acquisition, due diligence, project leasing, special financing district restructuring, auditing of companies, and market analysis and recommendations.
John is a licensed Certified Public Accountant, inactive, in the State of California and received his Bachelor of Arts degree in Accounting from California State University – Fullerton. John is an accomplished speaker, presenter and author of various articles on a multitude of real estate topics. You can contact John at john.foreman@dpfg.com

Peter Piller

Managing Principal of the Orange County, CA Office
Peter is the co-founding principal of DPFG. Prior to the establishment of DPFG, Peter spent seven years with the national accounting firm of Kenneth Leventhal & Company in the Newport Beach office. Peter has a Bachelor of Arts degree in Accounting from Cal State University, Fullerton.
Peter has over twenty eight years experience in the real estate industry with the vast majority of those years focused in real estate consulting. Aside from general real estate experience, Peter has special emphasis in planning and implementing land secured public financing districts, performing valuation and feasibility analysis on all types of land uses, planning and implementing redevelopment related projects, and planning and implementing the financing of public school district projects. Peter is a member of several Building Industry Associations. You can contact Peter at peter.piller@dpfg.com

R. Chris Lightburne

Managing Principal of the Orange County, CA Office
Chris is the Co-Managing Principal of the Orange County Office where he responsible for providing a diversified range of real estate consulting services including cash flow services, portfolio and asset analysis, restructuring and asset management, the development and implementation of public finance and real estate development related strategies for land developers and builders, analyzing fiscal impacts of new developments, redevelopment financing , establishing rates, charges and development impact fees. Chris has also worked on behalf of the development community throughout California in analyzing and negotiating development impact fees, school fees, and maintenance and services taxes. He has over 20 years of experience in financial analysis, real estate economics, public finance, capital markets, information technology and accounting.
Chris served as a manager of consulting with Kenneth Leventhal & Company (Later Ernst and Young Kenneth Leventhal Real Estate Group) in Newport Beach, California. Client engagements included strategic planning, public finance, real estate portfolio acquisition and disposition, market and feasibility studies, mortgage backed securities, restructuring and reorganizations, and audits of public and private companies. Chris's past experience also includes senior management positions for three start-up/high growth companies involved in manufacturing and media where he was responsible for finance, information technology, operations, real estate and facilities, sales and marketing, and strategic planning. Chris holds a BA in economics from the University of California, Los Angeles and is a Certified Public Accountant, inactive, in the State of California. You can contact Chris at chris.lightburne@dpfg.com

Chris Austin

Managing Principal of the Sacramento, CA Office
Chris is the Managing Principal of the Sacramento office. Chris has been working with the firm since 1998, and has been involved in providing consulting services on over 200 projects and the financing of over $800 million in public improvements for developer and builder clients in California, Nevada and Washington.
Chris's experience includes general real estate consulting matters with specialized experience in planning and implementing public financing districts, negotiating and documenting school district financing transactions, fiscal impact analysis, and development feasibility analysis for both residential and non-residential properties. Additionally, Chris has recently been involved in negotiating and tracking impact fee reimbursements for recent portfolio acquisition from a national home building company. Chris has also worked on behalf of the development community throughout California in analyzing and negotiating Development Impact Fees.
Chris is a member of the North State Building Industry Association, Urban Land Institute, Building Industry Association of Central California and the Home Building Association of Northern California. He has recently been selected by his peers as a Committee Member for the California Building Industry Association Impact Fee Task Force. Chris received his Bachelor of Science degree in Finance from Arizona State University. You can contact Chris at chris.austin@dpfg.com

Chris Cole

Managing Principal of the Orange County, CA Office
Chris is a Principal in the Orange County, CA office of DPFG. Chris has been with the firm since February of 2003, and has been involved in providing consulting services on over 250 projects and the financing of over $975 million in public improvements for developer, builder and financial institution clientele in California, Florida and Utah.
Chris's experience includes real estate consulting matters with specialized experience in planning and implementing public financing districts, negotiating and documenting cost sharing agreements, reviewing and critiquing development impact fee studies, development agreements, school district financing transactions, fiscal impact analysis, and development feasibility analysis for both residential and non-residential properties. Chris also serves as the head of DPFG’s Disclosure Services practice group.
Prior to joining DPFG in 2003, Chris served as a Legislative Analyst and Lobbyist for a California based lobbyist firm. He advised legislators and other policy makers of client issues and concerns. He researched policy issues, monitored legislative hearings and participated in policy briefings related to legislation and regulatory issues on the local and state level. Representative clients were from a variety of industries including the home building industry, automobile and aircraft, shipping, local government and financial institutions.
Chris is a member of the Home Builders Association of the Central Coast where he currently serves as a member of the Government Affairs Committee. Chris received his Bachelor of Arts degree from California State University, Chico. You can contact Chris at chris.cole@dpfg.com

Maik Aagaard

Managing Principal of the Southeast Offices
Maik Aagaard is the Managing Principal of the Southeast Offices of DPFG, Inc. Maik’s client engagements include real estate consulting with emphasis in strategic planning for REO assets, public financing, cash flow feasibility analysis, assessment methodologies, fiscal impact analysis, and development impact fee analysis. Maik has been involved in providing consulting services for private and public sector clients related to special district formation, implementation, financing and management on over 80 projects, financing approximately $500 million in public infrastructure in California and Florida. Most recently advised a group of 5 banks with respect to a developer workout proposal for an approximately $175 million syndicated revolving credit facility secured by about 9,000 lots including assessing funding requests for development and operating expenditures.
Maik is a member of the Urban Land Institute and the Home Builders Association of Metro Orlando. He holds a university degree in economics after completing related coursework at the University of Wales, Great Britain, and Christian-Albrechts-University at Kiel, Germany. You can contact Maik at maik.aagaard@dpfg.com

Rick Rosenberg

Managing Principal of the Texas Office

Rick Rosenberg is the Managing Principal for DPFG’s Texas region. In this capacity, Rick provides strategic planning, investment analysis, workout and financing services at both the project and entity level including recapitalizations, restructurings and the sourcing of new equity and debt capital for investments and developments with a particular focus on the use of public/private partnerships to efficiently and effectively finance the infrastructure and vertical improvements associated with residential, commercial and mixed-use developments. With a broad combination of analytical, strategic and communication skills, Rick has over 35 years of extensive real estate and finance experience, encompassing the investment analysis, acquisition; deal structuring, equity sourcing, asset management and financing of commercial and residential real estate investments (existing and under development) and operating companies, at both the entity and project level, located throughout the United States.


Prior to joining DPFG, Rick was the Vice President of Investments for the Cole Companies, the Chief Financial Officer for the Arizona Division of Centex Homes, the Chief Financial Officer and Director of Land Acquisitions for the Houston Division of K. Hovnanian Homes, and the Chief Financial Officer for MAXXAM Property Company. In addition, he has over ten years of prior consulting experience providing investment advisory services to developers, public agencies, Fortune 500 corporations and institutional investors. Rick has a Masters in Management degree with a dual concentration in Finance and Management Policy from Northwestern University’s Kellogg School of Management and a B.S. with a concentration in Accounting from the Wharton School at the University of Pennsylvania. You can contact Rick at rick.rosenberg@dpfg.com

Lucy Gallo

Managing Principal of the Southeast Offices

Lucy is the Managing Principal of Southeast offices of DPFG, Inc.. Lucy provides fiscal and economic impact analysis, real estate market analysis, cost/benefit modeling and public infrastructure finance (impact fees, tax increment financing, and special assessment districts) advisory services for urban development, redevelopment and comprehensive planning projects. With significant experience in community revitalization initiatives, Lucy has acted as a lead fiscal consultant for numerous large-scale economic development and public/private partnership engagements throughout the Southeast. Prior to joining DPFG, Lucy served as an Associate Vice President at AECOM Economics (formerly Economics Research Associates) an international consulting group providing research, applied economic analysis, and strategic planning services to a wide range of clients. While at AECOM, Lucy helped create economic and policy framework for urban plans and redevelopment projects, real estate development initiatives, and growth and economic-development strategies. In the course of her career, Lucy has assisted a diverse cross-section of communities, ranging from small towns and rural counties to large urban cities, with fiscal and economic analyses to evaluate important land-use planning initiatives. Regardless of the community’s size, the goal of each engagement has been to address pertinent issues and concerns regarding long-term fiscal sustainability. Lucy often collaborates with the University of North Carolina-Chapel Hill City and Regional Planning Department and the UNC School of Government on fiscal and economic impact related research, projects and publications. Affiliations: Government Finance Officers Association, Urban Land Institute, American Planning Association, Growth and Infrastructure Consortium . You can contact Lucy at lucy.gallo@dpfg.com

Sunit Patel

Principal

Sunit is a Principal in the Orange County, CA office of DPFG. Sunit has been involved in providing consulting services on over 200 projects and the financing of over $800 million in public improvements for developer, builder and financial institution clientele in California and Nevada. Sunit's experience includes real estate consulting matters with specialized experience in planning and implementing land secured public financing districts such as Mello-Roos Community Facilities Districts (CFDs), evaluating tax increment financing options relating to redevelopment project areas and infrastructure financing districts (IFD), negotiating school mitigation and development agreements, and development feasibility and cash-flow analysis for both residential and non-residential properties.


Additionally, Sunit has extensive experience in preparing complex fiscal impact analysis models to assist clients with determining the net fiscal impact a proposed development project will have on the municipality’s general fund. Other primary areas of experience include negotiating and preparing fee credit and reimbursement agreements, preparing fair-share infrastructure cost allocation analysis for developer consortiums, and preparing public facilities financing plans and public financing deal-points for development agreements.


Sunit is a member of the San Diego and Riverside County Building Industry Associations and the Urban Land Institute. He holds a Bachelors degree in Business Administration with an emphasis in Finance from the University of Southern California (USC) Marshall School of Business. You can contact Sunit at sunit.patel@dpfg.com