The Excelsior Group, LLC

The Excelsior Group (TEG) is a full-service real estate firm offering boutique-level services to the Twin Cities area in the fields of management, real estate investments and advisory services, homebuilder lending, and development.

TEG’s foundation is rooted in a partnership formed between Kim Culp and Sheldon Wert in 1983 that lasted for more than 20 years. Together, Kim and Sheldon founded The Shelard Group, which began as a property management and leasing company focused on office and industrial properties in the Twin Cities. By 1995, Shelard managed ten million square feet of commercial space in the Twin Cities area. Along the way, Kim and Sheldon developed and acquired a portfolio of 700 multifamily units for their own investment. In 1997, Shelard assumed an asset management role for their portfolio, which swelled to 1,200 units over the next five years. In 2002, Shelard began to again deliver property management, expanding this service to nearly 1,000 units over the next three years. In 2005, to facilitate succession planning, Kim and Sheldon divided Shelard into two companies – assigning half of its asset and property management portfolio to TEG. TEG began to provide property management services for approximately 750 units located in Minnesota and Wisconsin. That same year, TEG took advantage of the high demand for multifamily assets and sold 375 units in Wisconsin and 250 units in Florida. Today, TEG has experience owning and managing many types of real estate, including multifamily, industrial, office, retail, hospitality, and land. Current management contracts consist of more than 1.9MM SF of commercial real estate, nearly 5,000 apartment units, including 700 under development, 650 acres of raw land and 200 single-family home lots. In addition, the principals of TEG have developed in excess of 1MM SF of office, industrial, retail, multifamily, and residential real estate properties.