Adelaide is built on industry experience and a commitment to delivering innovative real estate products.
We focus on providing real estate products and services tailored to an unrealized segment of the market.
Adelaide was established to develop boutique projects that offer residents the ability to live in more intimate communities at more diverse price points than traditional projects. This product is intended to be replicated which offers less risk to investors and streamlines the design and construction process.
We are also able to use our extensive experience to provide consulting residential development services. We strive to deliver exceptional service and be highly responsive to our client's needs. Our team is able to find creative solutions that differentiate our products and our customer's developments, while driving the project forward.
Mr. Elser formed Adelaide Real Estate in August 2018 when he identified a unique opportunity to fill a niche in the urban market by providing boutique multifamily projects that meet a broad spectrum of household incomes. He also wanted to use his expertise to provide advisory and residential development services.
Prior to this, Mr. Elser was a Managing Director and the head of urban multifamily development for the Southwest Region of Hines. He has been responsible or assisted on 11 projects totaling approximately 3,300 units and $1.2 billion in total capitalization. Mr. Elser was responsible for all phases of development from sourcing the site through disposition of the asset including the management of a 5 person development team.
Senior Managing Director
Mr. Genova has more than 25 years of real estate development and financing experience, primarily on mixed-use, high-end condominium, hospitality, and multifamily projects with the New York Tri-State region, Houston, and Denver. David is responsible for day-to-day oversight of pre-development and development work for Adelaide Real Estate. David was previously the Director of Development for Arel Capital, where he supervised new development and renovation work across the country. Notable projects include The River Oaks, a 400,000 square foot condominium in Houston that set new benchmarks in quality and sales price. He received his Bachelor of Science in Engineering from Duke University, his M.B.A. from New York University, and is a Licensed Professional Engineer in the State of New York.
Gerrit Van Someren
Mr. Van Someren joined Adelaide Real Estate in July 2019 as an Associate to assist with the sourcing and execution of multifamily residential advisory and development opportunities. Prior to this, he worked at Hines on the Southwest Region Multifamily Development Team as an analyst. In this role he was responsible for or assisted with project underwriting, due diligence, equity and debt sourcing, and pre-development activities for 5 projects totaling approximately 1,900 units and $600 million in total capitalization. Mr. Van Someren received his Bachelor’s degree in Economics from Washington and Lee University.
Sydney joined Adelaide in January 2021 after graduating from Texas A&M University with a degree in finance. She has spent the last 3 summers working within the Real Estate Development Industry. Her experience includes working as a Project Coordinator with LRJ construction for two summers and one summer as an Analyst for Hines.
The meaning behind Adelaide
Our company was named in remembrance of the founder’s first child, a daughter named Adelaide “Addy”, who passed away after a sudden pre-term birth. Our goal is to constantly honor her memory throughout our company in both a professional and personal capacity.