Frontier Development was founded in 1998, originally as a residential real estate acquisition and development firm. In 2009, the firm relocated its offices to Washington D.C, and rebranded as Frontier Development & Hospitality Group shifting its investment focus to lodging assets. It has since acquired and developed hotels assets with a total capitalization of over $125 million, completing over 75 real estate transactions since its inception. The firm’s management team brings expertise in the areas of acquisitions, dispositions, development, construction management, asset management and finance.
Investment Strategy (Acquisitions)
Frontier employs a value-add investment strategy to acquire under-branded, under capitalized or mismanaged assets in growing markets with multiple demand generators. Its targeted sources of capital range from high net worth individuals, to institutional private equity and family offices.
Evens Charles is the founder and managing principal of Frontier Development & Hospitality Group LLC. A native of Washington, D.C., Mr. Charles attended Temple University in Philadelphia, Pennsylvania where he was a Big East Conference Division I football athlete. During his five-year athletic tenure at Temple University, he earned a B.A. in Psychology and a Masters of Education. Shortly thereafter, Mr. Charles was inspired by his landlord and began investing in real estate, which lead him to start Frontier. At the age of 25, he executed his first small transaction that required an out of pocket investment of $1,000 resulting in a $25K profit six months later. This transaction was the catalyst that catapulted Mr. Charles into real estate investing. More than 70 transactions later, Mr. Charles, at the age of 36, had led Frontier to its first hotel investment. The firm has since grown to a nine-figure portfolio.
His accomplishments have been recognized with the 2009 Hotel Owner of the Year Award presented by the National Alliance of African-American Hotel Owners, Operators and Developers; the 2010 Next Generation of Business Leaders Award presented by the Urban Philly Professional Network; 2010 Entrepreneur of the Year awarded by the National Alliance of Marketing Directors; the 2010 Outstanding Hotelier Award presented by the Asian American Hotel Owners Association, and the 10 People Under 40 to Watch in 2010, awarded by the Philadelphia Tribune Magazine. He has been featured in various publications such as Hotel Business Magazine, Philadelphia Tribune, Lodging Magazine, Savoy Professional and the Minority Business Entrepreneur Magazine. He is also a member of Temple University’s School of Hospitality & Tourism Board of Visitors, member of the Real Estate Executive Council, as well as industry organizations such as the National Alliance of African American Hotel Owners and the Asian American Hotel Owners Association.
Mr. Charles has been recognized as an innovator within the industry. Maintaining a positive community and industry presence, Mr. Charles has endowed a scholarship in his name at Temple University’s Fox Business School for underrepresented students, serves as a keynote speaker to schools and businesses, and mentors aspiring entrepreneurs.
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