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Meet the team

Stuart Ackerberg

Stuart Ackerberg

Mr. Ackerberg is the owner and serves as the Chief Executive Officer of Ackerberg. Stu serves on the Governance Committee for Ackerberg, setting strategic direction for the company and executing annual goals.

In addition to his work at Ackerberg, Stuart created a non-profit development corporation, Catalyst Community Partners, wherein he serves as its Chairman of the Board. Catalyst Community Partners, a 501(c)3 corporation, is a social venture organization focused on creating prosperity for underperforming communities through real estate redevelopment with job enterprise creation being the primary objective.

Stu is an active member of the Urban Land Institute (“ULI”), serving as an international Governing Trustee. In 2018 Stuart served as the chairman of the ULI’s global Open Space Awards and in 2017 he served as juror for the ULI Global Awards of Excellence.

Stuart is an advisory board member for the College of Design at the University of Minnesota and is a member of the Real Estate Advisors for the University of Minnesota Foundation. In addition, he serves as a director of the Minneapolis Parks Foundation and the Jewish Family and Children’s Services.

Stu was recognized as one of the “100 People To Know In 2019” by Twin Cities Business. In 2014, as one of Minnesota Business Magazine’s The (Real) Power 50. In 2013, he was recognized as one of Minnesota Monthly’s 75 Most Influential Minnesotans. In addition, in 2012 he was named, an Inaugural, Progress Minnesota Honoree by Finance & Commerce. In 2009, Stuart received the Community Effort Award and the Charles Nelson Award of Excellence from the Preservation Alliance of Minnesota and in 2008 he was honored as the Inaugural E.J. Plesko Distinguished Speaker Series in Real Estate Development from the James A. Graaskamp Center for Real Estate, University of Wisconsin.

Prior to forming Ackerberg, Stu served as General Partner, President and Chief Operating Officer for Birtcher Financial Services, and was Vice President for Heitman Financial Services, Ltd.

Stuart attended the University of Wisconsin – Madison where he received a Bachelor of Science degree with emphasis on Economics and Real Estate.

Mary Armstrong

Mary Armstrong

Mary is a Senior Managing Director of Ackerberg and is primarily responsible for investor relations, investment fund oversight, and lender reporting.

Mary began her career in the residential mortgage lending industry, as an Assistant Vice President in Secondary Marketing, providing financial modeling and profit/loss projections, first at Norwest Mortgage, wrapping up at Knutson Mortgage in 1989, at which time, she left this industry to join Fine Associates, a small commercial real estate firm, located downtown Minneapolis.

Mary joined The Ackerberg Group in 1995. She serves as the Real Estate Broker for the company, and is an active member of NAIOP (National Association of Industrial and Office Properties), as well as a member of MNCAR (Minnesota Commercial Association of Realtors) and MAR (Minnesota Association of Realtors). Her result-oriented approach has ensured that property management and development activities are well-executed, professional, and cost-sensitive.

Mary has extensive experience in financing projects with multiple lenders, creative financing, and financing in challenged markets. She recently successfully assisted a non-profit with financing two projects located within an economically challenged market; and led an effort to team a conventional lender with low interest government gap financing loans that has numerous legal requirement for participation and wages. On the for-profit side, Mary recently coordinated three different lenders, issuing four different loans, for a $43 million dollar development project.

Jackie Knight

Jackie Knight

Jackie is a Senior Managing Director for Ackerberg. She provides oversight for the Commercial Services division, overseeing the Property Management, Maintenance, Construction Management, and Administrative Services teams. Jackie plays an active role in new development activity as the operational liaison, and directs the development and implementation of programs and strategies for the department. Her focus is on transitioning new properties into the portfolio, maximizing property cash flow, and tenant and customer satisfaction.

Prior to joining Ackerberg in 2011, Jackie worked on behalf of Madison Marquette Realty Services, Northmarq Real Estate Services, and Jones Lang LaSalle, holding positions in property management, operations management, marketing, specialty leasing, and tenant coordination.

In addition to being honored as a top “Woman in Business” by the Minneapolis St Paul Business Journal in 2013, Jackie holds her CDP designation (Certified Development Design and Construction Professional) through ICSC, her CPM designation (Certified Property Manager) through IREM, and her LEED GA designation through USGBC.

Jackie is an active member in multiple professional and neighborhood groups; this includes serving on the Boards of the Lake Street Council and Uptown Special Service District as well as the City of Minneapolis Pedestrian Advisory Committee. Jackie is also active in numerous commercial real estate associations, including ICSC, MSCA, and IREM, the USGBC, as well as the Uptown Association locally.

In addition, Jackie is committed to supporting local schools and non-profits. She has been a very active volunteer tutor with both Minneapolis and St. Louis Park Public Schools, as well as with the Minnesota High School Cycling League. Within Ackerberg, she spearheads the firm’s expanding involvement in community service and has engaged staff in volunteer & fundraising projects to support several local organizations.

Mark Schlitter

Mark Schlitter

Mark Schlitter is the Chief Financial Officer of Ackerberg, where he is responsible for the overall management of the accounting and finance areas of the company.

Mark began his career as an auditor with the public accounting firm Arthur Andersen, LLP in Minneapolis, MN.

Mark went on to join Carlson, the privately-held hospitality and travel company in Minnetonka, MN.  He held several management roles in the company, with varied accounting responsibilities including financial reporting, audit and financial analysis.

From there, Mark joined Carlson Real Estate Company, a family-owned affiliate of Carlson, which owned and managed over 6.7 million square feet of industrial, office and retail commercial real estate in Minneapolis, Phoenix and Charlotte.  He held several accounting and finance related roles during his 20 year tenure with the company, including Controller and Senior Director.  As the VP of Finance at Carlson, Mark was responsible for the overall management of the accounting, finance and IT areas of the company.

Mark was also a key member of the executive team that developed strategy and executed and implemented the company’s plans and initiatives.

Mark is a member of the Minnesota chapter of NAIOP and is a former national NAIOP forum member for the Capital Markets Team.  He is also an active volunteer at church and has held several leadership roles.

The spiritual journey is individual, highly personal. It can’t be organized or regulated. It isn’t true that everyone should follow one path. Listen to your own truth.

Ram Dass