A Team of Experienced Innovators

A team of principals with decades of experience in both managing and owning large apartment projects leads ICG. These talented individuals with unique skill sets help ICG achieve excellence in all aspects of the business. They also ensure that investors’ interests are at the forefront of every business decision.

Mick Halpin
Mick is a Principal and Managing Member of ICG and one of the founding Principals of HSC Real Estate, Inc. Mick oversees ICG’s acquisition activity. Mick was President of HSC from 1989 - 2001. He has extensive experience in multifamily management, acquisition, rehabilitation and dispositions. He was previously an Asset Manager for a national real estate company. He graduated from Seattle Pacific University with a degree in Business Administration.

Michael Christian
One of the three founding Principals of HSC, Mike Christian is an expert in operational management systems and procedures. He is now a managing member of ICG. Mike is responsible for the firm’s asset management activities for ICG’s investment portfolio. Previously Mike was an asset manager with a national real estate company in Seattle and gained experience in sales management with a Fortune 500 company. He graduated from Washington State University with a degree in Finance.

Walter H. Smith
Walt is a Principal of ICG and was one of the founding Principals of HSC, serving as its President from 2001-2008, as well as a principal of ICG. Walt served as CEO of Riverstone Residential Group from September 2009 until September 2013. After taking some time off, Walt joined ICG in 2014 and is involved with the operations of the newly formed management company, Avenue5 Residential, assists in fund-raising and is on the investment committee. Walt has been active with the National Multi-Housing Council (NMHC) and numerous other housing related organizations around the country. He has a Communications degree from Montana State University.

Pål Ottesen
Pål is a Principal in ICG and is currently involved in the operational side of ICG and Avenue5 Residential. Most recently Pål served as CFO of Riverstone Residential Group, overseeing operations and financial activities for the company. Prior to joining Riverstone, Pål was a Principal of HSC, where among other duties he was responsible for opening the Portland office and eventually handling all company operations. He has been in the real estate industry since 1991. He graduated from Washington State University with a degree in Finance.

Stephen F. Davis
Steve is a Principal in ICG and is currently involved in the operational side of Avenue5 Residential and ICG. Subsequent to his current involvement with Avenue5 Residential and ICG, Steve was President of the Western Division for Riverstone Residential, where he was responsible for overseeing the Western Division, which consisted of roughly 85,000 apartment units. Prior to Riverstone, Steve was a Principal of HSC where he ran several regional offices and was instrumental in the growth of HSC’s portfolio. Steve has been in the real estate industry since 1996. He graduated from the University of Washington with a Bachelor of Science Degree.

Ward Murphy
Ward was hired as Director of Investor Relations in 2002 and became an ICG Principal in 2005. Ward has been actively involved in raising over $150 million in investor equity for ICG over the last decade. Previously, he spent 10 years at Seattle-Northwest Securities as Vice President Institutional Sales on the bond-trading desk and as an Investment Banker in real estate. Earlier, he worked for Honeywell’s Buildings Group. He has a BA in English from Tulane University.

James M. McCullough III
Jim is ICG’s Financial Analyst and primary project underwriter. He was hired as an accountant in 1995. He specializes in acquisition underwriting, market analysis, forecasting and loan underwriting. He is the primary designer of ICG’s proprietary underwriting models. He has a BS in Finance and a BS in Accounting from Central Washington University.

Johnathan Makus
Johnathan Makus is the Acquisitions Manager at Investors Capital Group. His responsibilities flow through the entire acquisition process which includes: deal procurement, underwriting, due diligence, and closing. Johnathan joined the ICG team in the latter half of 2006. Johnathan has successfully closed over $300 million of acquisitions. Johnathan attended Johnson & Wales University in Denver, CO where he received his Bachelor’s degree in International Business and Business Administration.


Investors Capital Group, LLC
3101 Western Avenue, Suite 500 Seattle Washington 98121
United States
Telephone: 206.518.6060

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