Our team

"A dream doesn't become reality through magic; it takes sweat, determination and hard work." - Colin Powell

May 15, 1994, Steven M. Cersonsky accepted the position of Vice President of Acquisitions for Excell Fund LLC, whose main emphasis is finding shopping center properties nationally, which fit the company’s acquisition criteria.

After college at Illinois Institute of Technology and graduate school at the University of Colorado, Steve started his real estate career in January 1972, as a multi-residential property manager and residential real estate salesman.  By 1980, Steve’s responsibilities had grown to consist of asset managing approximately $250,000,000 of real estate.  He was in charge of leasing, sales, and management.  Part of Steve’s duties was to oversee the management, development, maintenance, and sale of 6 nursing homes.

In 1982, Steve formed Sun Realty, Inc., which acquired, developed, managed, and syndicated new retail and office projects, totaling some $20,000,000.  Some projects were taken from ground acquisition to fully leased complexes.  Steve kept these projects over 80% leased, even in the down markets.

At J. Herzog & Sons, Inc., Steve was responsible for leasing and releasing over 2,500,000 square feet of retail strip centers, in 13 states, from New York to Florida and west to Colorado.  He created a contact network for hundreds of national credit tenants.  Steve has a strong background in computers, finance, insurance, leasing, management, sales, and real estate workouts.

At Excell Fund, LLC, Steve represents several national tenants (including Family Dollar Stores, Inc.) in their search for quality locations nationwide.  In recent years, Steve has been instrumental in creating over 480,000 square feet of new stores for Family Dollar, redeveloped approximately 300,000 square feet of vacant retail buildings, and has expanded operations to a new office in Cincinnati and Oklahoma to handle development opportunities in Texas, Oklahoma, Michigan, Missouri, Ohio, Kentucky, West Virginia, Maryland and Indiana.

Steve is one of the primary owners and Managing Members of Park Regency Assisted Living Center in Loveland, CO, and is one of the managing members, and primary financial backers for Park Regency Thornton, LLC.  Both of these properties sold in 2014.  Steve has gone on to be the managing member of 6 new Senior Living projects, 4 in Colorado (Parker, Ken Caryl, Littleton, and Aurora), 1 CCRC in Oklahoma City, and 1 AL project located in Sunrise Mall in Corpus Christi, TX.

Executive Vice President

Virgil W. Shouse, III joined the Excell Team in 1998 as partner and broker. In over 18 years with the Excell team, he has advanced his involvement and ownership in its companies. Today, he is active in retail development nationally. Virgil has directed the leasing, acquisitions, dispositions, and development of hundreds of retail properties and thousands of square feet from Wyoming to Maryland. His primary focus has been single credit tenant development; however, he also has had a strong presence in multi-tenant retail developments and redevelopments.  Virgil is a member of the ICSC, Xceligent, Loopnet, and networks, and is in touch with the national retail real estate players as well as most real estate activity in Denver. Virgil is a conscientious businessman, taking pride in adding value to the community as well as to his investors and clients. He is proud of his “can do” philosophy, and exercises this with a strong sense of fairness for all stake holders involved from the beginning of a deal through its completion.

“They can who think they can”

Broker and Investor Relations

Kathy Ellman has over 30 years experience in development, real estate leasing, brokerage, asset management, property management & construction management.  She was responsible for the national development, leasing, asset management and tenant finish for 47 Laser Vision Centers.  She has over 10 years of experience as a broker/tenant representative for several publicly traded national retailers.  Kathy also has a strong background in market analysis utilizing demographics and research, and has been responsible for analysis and marketing packages and site determination for multiple real estate executive review boards.    Currently Kathy primarily concentrates on marketing development syndications to venture capitalists, in which she participates as a managing member.   Kathy has a Bachelor’s Degree in Marketing & Mass Communications and an MA in Philosophy with an emphasis on business ethics both from the University of Denver. Kathy rejoined her brothers, Steve and David, in May of 2006 as a broker and investor relations manager.

Texas Director of Development

David started in commercial Real Estate in 1979 and received a Bachelor of Science Degree in Real Estate from the University of Texas in 1981. He joined Steve (his brother, the President of Excell Fund) in 1982 as partners on many retail and office projects, working the Denver area exclusively for 7 years. After leaving Colorado in 1989 to venture into the Texas market on his own, he rejoined his brother and Excell Fund in 2004 as the Texas Director of Development.
With years of first hand experience in leasing, sales, management, acquisitions, financing and construction, David is able to handle all aspects of the development process with efficiency. David is a member of ICSC (International Council of Shopping Centers) which has allowed him the opportunity to expand his client base. He strives to offer a full service development process whether it is for personal investment, outside investors, tenants or owners.

Project Manager
Doug joined Excell Fund in the Spring of 2004. His role as a Development Manager focuses on the company’s projects in Ohio, Kentucky, Illinois, Wisconsin, Minnesota, and Indiana.

His Commercial Real Estate Development experience includes coordination of over thirty projects from initial planning and acquisition through all aspect of the development project: planning, design, zoning and permitting, consultant selection (Architects & Engineers), bid supervision and contract negotiation as well as construction supervision to final punch-list and tenant turnover.

Acting as the owners representative, Doug has completed projects for numerous national tenants such as : Burger King, Radio Shack, Fashion Bug, Block Buster, Long John Silver’s, Subway and others. Prior to full time involvement in Commercial Real Estate development Doug spent over ten years in various development capacities in the franchising industry with companies such as Arby’s, Insty-Prints, Burger King and AFC (franchisor of Popeye’s and Church’s Chicken restaurants). During that period he was responsible for the generation of over seventy five new franchise groups and the subsequent development of over two hundred new unit commitments. His experience includes managing a company development group with sales managers, field development managers, store planning and drafting personnel.
Office Manager

Sue joined Excell Fund in January of 2003 as Office Manager. Prior to this Sue
worked at home for nine years where she did the accounting for her husbands trucking company.

At Excel, Sue’s smiling face is the first to greet you. Sue has a lengthy background in office management. She assists in multiple areas of Excell Fund’s operation, as well as maintaining numerous accounts and payrolls on Quickbooks for the company and it’s affiliates. Sue also coordinates with CPA’s for year-end accounting, 1099’s, K-1’s and monthly reports. In addition, Sue provides provides administrative support for the entire office.

Counsel for Excell Fund, LLC

Sarah has extensive experience dealing with all aspects of commercial and residential real estate transactions and management issues. Sarah received her B.A. at the College of the Holy Cross and her J.D. at New York Law School in Manhattan. While at New York Law School, Sarah’s focused her studies on real estate law and she was honored by being named an Associate of the Center for Real Estate Studies. Sarah’s prior legal experience includes the development and management of commercial property for a major REIT located in Manhattan, as well as handling residential and commercial real estate matters for a boutique litigation firm.

Gary S. Levin, Esq., became in-house counsel for Excell in February 2015. He concentrates his own practice on environmental law, real estate transactions, water law, agricultural law, development and finance transactions; corporate and business organization; property tax assessment and rural economic development. Gary’s environmental practice is nationally recognized. His experience includes environmental permitting and compliance work with major agricultural producers.

In 2011, Hillary graduated from the University of Denver with a degree in Business Marketing. Having worked with a wide variety of personalities, Hillary has the experience necessary to identify and address each client’s particular needs. Hillary joined Excell Fund Brokerage and Development in November 2015, where she assists with sales, purchases, leasing, and investments of both residential and commercial properties. Hillary’s natural enthusiasm, combined with her professional background and thirst for knowledge in all aspects of real estate makes her a powerful asset to whatever transactions in which she participates.