Dewitt H. Smith III, President and CEO
Devereux Management Company is an integrated real estate investment and operating firm that owns and operates income producing commercial properties through limited partnerships and joint ventures for which it serves as general partner or managing member. Devereux provides asset management, property management, construction management and leasing services to the investment entities utilizing its own management team or approved affiliates.
The company is the managing general partner for limited partnerships and/or joint ventures that own commercial real estate in Arkansas, Tennessee, Mississippi, South Carolina, and Wisconsin. Devereux was founded by President and CEO Dewitt H. Smith III, who has more than 35 years experience in commercial real estate development, investment, and management. He has previously managed property portfolios valued in excess of $450 million dollars and consisting of more than 3.5 million square feet of commercial space.
Devereux follows a conservative strategy that eschews speculation, opting instead for solid more predictable risk adjusted yields from core income producing real estate in lieu of higher-risk strategies. The key elements of this strategy include focusing on properties a) with superior locations, b) with a stable existing rent roll, c) located in secondary and tertiary markets in the Sunbelt, d) which have minimum deferred maintenance, and e) which are appropriate for a long-term holding period. Included among the professional services offered by Devereux are consulting or active participation in the following:
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- Financial Modeling and Analysis
- Corporate Finance
- Debt and Equity Financing
- Strategic Planning
- Complex Transactions
- Syndications
- Joint Ventures
- Governmental Relations
- Marketing and Public Relations
- Workouts
- Property Management
- Asset Management
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If you’d like to learn more about Devereux Management Company, please contact Mr. Smith at dewitthsmith@gmail.com
Dewitt H. Smith III, President and CEO
Mr. Smith’s professional career spans four decades and covers a wide variety of commercial real estate disciplines including land development, construction, sales and leasing, asset and property management, financial analysis, financing and structuring complex investments. Devereux Management Company, a company he founded in 1986, is currently involved in commercial projects in five states.
Mr. Smith previously served as president and CEO of Cooper Realty Investments (CRI), a real estate operating company at which he managed a $450 million portfolio of Class A office, retail, mixed use and warehouse properties comprising 3.5 million square feet of commercial space. In addition to operating 100% owned properties, CRI formed a number of joint ventures and limited partnerships that were controlled and managed by CRI and capitalized with equity capital from both institutional and private investors. He also held executive positions with Fairfield Communities where he managed large scale recreation/retirement communities in both Arkansas and North Carolina.
He has served as an Adjunct Instructor at the Walton College of Business, University of Arkansas, where he taught Advanced Real Estate Finance and Investments at the MBA level and macroeconomics at the undergraduate level.
Mr. Smith is a licensed Professional Engineer, licensed Real Estate Broker, and a member of the National Society of Professional Engineers and the American Society of Civil Engineers. He serves on the boards of directors for the Washington Regional Medical Foundation, the United Methodist Foundation of Arkansas (past chairman), Mt Sequoyah Assembly (current chairman) and is a Commissioner for the Arkansas Martin Luther King Jr. Commission.
Mr. Smith holds a Bachelor of Science in Civil Engineering degree from the University of Arkansas, and a MBA from Harvard Business School.
Tonya Sullins, Chief Financial Officer
Ms. Sullins has served in her present capacity with Devereux since 2003 and she has 20 years experience in accounting and payroll management. She is also a past owner of a tax preparation service and is an EA-Enrolled Agent at the federal level.
Ms Sullins graduated from the University of Arkansas with a BSBA with emphasis in Accounting and Computer Information Systems. She serves on the Worship Team at Prairie Grove Christian Church, is active in the Ok-n-A Sorting Association, a competitive cattle sorting sport, and is owner and operator of Rusty Spur Cattle and Horse Ranch.
Christia Cornog, Senior Property Manager
Ms. Cornog has worked in management with Village on the Creeks since 1996 and is responsible for payroll, tenant billing and invoices, lease management and renewals.
She is a graduate of the University of Arkansas and holds a BS in Business Administration with emphasis on Accounting. She is also a Licensed Real Estate Agent.
Ms. Cornog teaches youth religious education classes at the St. Vincent de Paul Catholic Church, has served as a leader with both the Boys Scouts and Girl Scouts, and volunteers with the Rogers Sports Leagues, helping with children’s soccer and baseball.
Gabe Morris, Director of Maintenance and Construction
Mr. Morris is a project manager overseeing tenant improvements along with grounds and building maintenance. He has been with Village on the Creeks since 2005. Prior to that he served as a manager for Terra Vista Landscape, owned his own landscaping company, and managed a garden center/greenhouse.
Mr. Morris studied horticulture at the University of Arkansas, Fort Smith, and is a certified Master Gardener. He is active in the Acres for Wildlife program, serves as a song leader at Hwy 71 Church of Christ, and the owner of M&M farms.
Leslie Logan, Assistant Property Manager
Ms. Logan has been with Village on the Creeks since 2008 and is responsible for tenant communications, media and public relations, special events, and assists with project designs for property improvements. She previously taught high school, has worked as both a special events and wedding coordinator, and has designed children’s clothes.
She is a graduate of the University of Memphis and holds a BS in Education with emphasis in Hospitality and Clothing Design. She is also a Licensed Real Estate Agent.
She serves on the Hospitality Committee and volunteers as a preschool teacher at Grace Point Church in Bentonville.