Our Story

In the spring of 2003, Sigma Nu Fraternity, Inc.'s High Council and Trustees came together to decide the future that housing would play in Sigma Nu's operations. The discussions surrounded around the pros and cons of becoming more involved in real estate and undergraduate housing as well as the current state of the Fraternity's loan program.

It was decided that for the Fraternity to be successful in real estate that it needed to be operated as an independent for-profit entity that could focus exclusively on growing sustainable housing operations, competitive services, and a performing loan program.

The Fraternity's venture into the real estate area was the launch of a wholly-owned subsidiary in August 2003 called Fifth Point Properties, LLC with the main goal of improving the quality of chapter housing available to the chapters of Sigma Nu Fraternity. Through a combination of support and advising services for house corporations, relationships with third-party service providers, and direct investment, Fifth Point Properties provides a broad spectrum of support for house corporations and chapters.

With so many chapter facilities in need of repair, remodeling, upgrade of life-safety and technology systems, the work necessary to maintain a long-term property management and improvement strategy can be daunting for a team of volunteers with family and career responsibilities. Fifth Point Properties can provide experience, manpower, and other resources to supplement or compliment existing volunteer teams.

Mission

To facilitate the improvement of the Fraternity's collective housing stock while developing a source of financial strength and competitive advantage for the Fraternity.

Vision

Our vision is to see ...

Quality of housing as a recognized competitive advantage for all Sigma Nu chapters with housing facilities.
A strengthened financial platform for the Fraternity.
Improved volunteer opportunities through relieved burdens on house corporation volunteers.

Staff

Stephen E. Ratterman, Sr., President & Chief Operating Officer

Mr. Ratterman was appointed as the President and Chief Operating Officer of Fifth Point Properties in March of 2006. He has served Sigma Nu Fraternity for more than 20 years, mostly as a Division Commander and for the past six years as a Vice-Regent and Grand Treasurer on the High Council. He has also served in leadership roles as an elected official and with the Boy Scouts, YMCA, and the Chamber of Commerce.

Mr. Ratterman's work experience includes over twenty years in the insurance industry and most recently as vice-president of property management and risk management for a company in East Tennessee. In his most recent role he was responsible for $25,000,000 in rental property spread across eight southern states.

Mr. Ratterman is a third generation Sigma Nu and a graduate of Indiana University with a Bachelor of Science in Business Administration. He has also completed post-graduate studies at Salem State College.

Nicholas L. Murphy, Treasurer & Chief Financial Officer

Mr. Murphy has served as Treasurer and Chief Financial Officer since the start-up of Fifth Point Properties, LLC. Mr. Murphy also services as Chief Financial Officer of Sigma Nu Fraternity, Inc. and Sigma Nu Educational Foundation, Inc. were he manages the finance and accounting functions for all three entities, along with much of the organizations’ administrative activities. He earned his bachelors of business administration in May 2001 with a double major in finance and marketing and a minor in economics from the University of Kentucky.

Rissie L. Presnell, Services Administrator

Mrs. Presnell joined the staff of Fifth Pont Properties, LLC and Sigma Nu Fraternity, Inc. in August 2006. She works with Fifth Point Properties’ service clients with our Chapter Dues Processing and Housing Agreements and Occupancy Payment Collection Services as well as dealing with much of the legal affairs of our real estate and lending businesses. Mrs. Presnell is also working towards her paralegal degree.

Board of Managers

Joseph F. Wood, Chairman

Mr. Wood serves as chairman of Fifth Point Properties’ Board of Managers, following his distinguished service as a Trustee of Sigma Nu Fraternity, Inc. Professionally, Mr. Wood is the Executive Vice President and a partner of Norris Beggs & Simpson, a commercial real estate service firm offering brokerage, property management, consulting, and mortgage lending services throughout the Pacific Northwest. Mr. Wood also serves on the board of NBS Real Estate Capital, a pooled real estate investment fund.

William N. Carlstedt

Mr. Carlstedt was appointed to Fifth Point Properties’ Board of Managers in 2004. Professionally, Mr. Carlstedt serves as president of Citimark Management Company. Citimark engages in development and construction, provides asset and property management, and leases commercial property.

Robert E. Durham

Robert E. Durham is a Managing Director and Regional Manager for Lehman Brothers' Private Investment Management and Institutional Coverage Groups in the Southeast Region. A twenty-six year industry veteran, Mr. Durham joined Lehman Brothers in 1994. Mr. Durham earned a BBA in Finance from the University of Georgia. He currently serves on the boards of the Peachtree Road United Methodist Church and The Appalachian Trail Consevary.

Howard C. Pickett

Mr. Pickett has a long and distinguished career as a volunteer for Sigma Nu Fraternity. His volunteer roles have included chapter advisor, house corporation president, District and Division Commander appointments, Trustee, and Vice Regent, as well as the honor of serving as the 57th Regent of the Fraternity. Mr. Pickett is president of George Pickett & Associates, an electrical sales firm selling to the electrical wholesale market in the Carolinas and Virginia. He has been a leader in a number of trade associations, most notably the National Electrical Manufacturers Representatives Association, of which he is chairman of the Educational Scholarship Foundation and past president of his local NEMRA chapter.

Lew Y. Williams

Mr. Williams was appointed to Fifth Point Properties’ Board of Managers in 2004. Professionally, Mr. Williams serves as the Vice President of Real Property for the University of Oregon Foundation, where he performs a wide range of functions related to real estate acquisition, management, and disposition on behalf of the Foundation. Mr. Williams also has real estate development experience, including an emphasis on development of senior housing communities.