At Sage Outdoor Advisory, our team of seasoned professionals is dedicated to leading the outdoor hospitality industry with unparalleled expertise and innovative solutions. Each member brings a unique blend of experience, knowledge, and passion for the outdoor hospitality sector, ensuring our clients receive the highest level of service and strategic guidance. Meet the experts who drive our success and make Sage Outdoor Advisory the trusted leader in outdoor hospitality consulting and appraisal.
Meet the Sage Team
Shari Heilala, MAI
President & Chief Executive Officer
Ms. Heilala is a member of the Appraisal Institute and brings over 30 years of experience in the commercial real estate industry. Shari has her undergraduate degree in Business from the University of Wisconsin – Madison with a double major in Real Estate and Finance. Ms. Heilala attended Northwestern’s Kellogg School for Management and holds her Masters of Corporate Real Estate from CORENET global. She has worked both nationally and globally in the industry.
For over 15 years, Ms. Heilala has analyzed dozens of existing and proposed RV resorts throughout the North America. She has developed expertise in the glamping industry, providing valuable insight to clients entering this growing area. Ms. Heilala is supported by a strong team of research, appraisal and consulting professionals.
She is based out of Chicago and the Gulf Coast.
Frantz Degand
Chief Operating Officer
Mr. Degand has been in the commercial real estate industry for over 20 years, with over ten years of experience in outdoor resort appraisal and consulting. He brings strong experience in debt underwriting, having led a team within the credit and risk management division of a regional middle market bank for ten years. His additional expertise includes operational management, training and technology implementation, as well as advanced research, data, and financial analysis.
Mr. Degand majored in philosophy at San Francisco State and is a licensed commercial real estate appraiser and real estate broker.
He is based out of Chicago, having spent his childhood in the mountains of the Caribbean. He is fluent in French.
Kristin Andersen Garwood
Vice President of Outdoor Hospitality
Ms. Andersen Garwood is a valuable addition to the Sage team, bringing with her a wealth of expertise in both appraisal and lending, spanning over 15 years. Additionally, she boasts an impressive background of 15 years in marketing and entrepreneurship. This rare combination of experience equips her with a comprehensive understanding of feasibility studies, appraisals, and the dynamic landscape of modern-day entrepreneurship.
Her educational qualifications include a BBA double major in Real Estate and Marketing from University of Wisconsin – Madison.
Currently operating out of Colorado, Ms. Andersen Garwood originally hails from Green Bay, Wisconsin. Her diverse background and geographical exposure contribute to her unique perspective and ability to adapt to different business environments. She loves to ski, hike and mountain bike and spend time in the mountains of Colorado.
Nicholas Cipriano
Director
Mr. Cipriano has worked on a variety of projects in over 35 states in his nearly 25 years of working in commercial real estate. He has over 15 years of experience related to hospitality including valuation, tax appeal, acquisition consulting, market studies, and feasibility studies. Nick undertakes diverse responsibilities. These include preparing comprehensive reports, managing projects, conducting feasibility studies, providing an array of consulting services for different property types, and valuation. His expertise lies in providing comprehensive valuation and consulting services for a diverse range of properties, including hotels, RV resorts, campgrounds, and glamping properties.
Nick graduated from Benedictine University with a degree in economics and finance. He also completed numerous courses at the Appraisal Institute and is a certified general appraiser in numerous states.
Based out of Chicago, Nick has lived in several other states and has traveled extensively throughout the United States.
Luke Marran
Senior Associate of Outdoor Hospitality
Mr. Marran attended the University of Denver – Fritz Knoebel School of Hospitality, where he majored in Hospitality Management with a concentration in Lodging & Real Estate. At CooperWynn Capital & Guard Hospitality, Mr. Marran was an investment analyst and owner relations specialist.
Luke comes from over 7 years of hospitality industry experience including hospitality investment underwriting, hospitality asset management, luxury hotel operations, and property management for vacation rentals.
He is from Illinois and is based out of Chicago.
Kyle Papelian
Senior Associate of Outdoor Hospitality
Mr. Papelian brings extensive experience in hotel investment sales, portfolio management and financial analysis to the team. With a background spanning over 7 years in the hospitality and real estate sectors, he has conducted over $1 billion in hotel valuations during his time at JLL’s Hotels & Hospitality Group.
Prior to JLL, Mr. Papelian served on Inspirato’s Portfolio Management team where he managed their West Coast Region. He oversaw operations, financial performance and negotiated and restructured lease terms with current and prospective property owners. Mr. Papelian also worked at Vail Resorts on their Hospitality FP&A team where he developed and oversaw budgets and operations for prominent properties throughout top ski resort destinations.
Kyle began his career in hospitality at Horwath HTL where he conducted feasibility and impact studies for hotel developments. Kyle holds a Bachelor of Science in Hospitality Management from the University of Mississippi, with a concentration in Real Estate Finance.
He is based out of the Southeast and is from Atlanta, Georgia.
Elizabeth Reid
Associate of Outdoor Hospitality
Elizabeth brings five years of international hospitality experience to Sage, with a track record in advisory, asset management and operations. Her background includes roles in diverse markets such as the United Kingdom, Hong Kong, the Netherlands and the Czech Republic.
Educated in Switzerland and London, Elizabeth holds an MSc in Real Estate, Finance and Hotel Development and a BBA in Hospitality Management from the Glion Institute of Higher Education.
She is from the United Kingdom and is based out of Boston, Massachusetts.
Greg Garwood
Associate of Outdoor Hospitality
Mr. Garwood brings a wealth of diverse experience to the Sage team. He holds a Bachelor of Science in Recreation Administration from Southern Illinois University and has spent over 8 years in direct service, operations and leadership roles within recreational facilities, luxury hotels and outdoor hospitality organizations. In addition, Greg has over 17 years of experience investing in, maintaining and managing real estate, complemented by 6 years as an entrepreneurial business owner and operator.
Greg’s lifelong passion for outdoor recreational activities and extreme sports has been a defining aspect of his life. Alongside these professional and recreational endeavors above, he dedicated 20 years to fire, rescue and EMS services, concluding that career operating as a Fire Lieutenant/Paramedic.
Originally growing up and spending time in the woods and creeks of mid-state Illinois, Greg now resides in the mountains of Colorado, where he continues to embrace the outdoors.
Connor Schwab, MBA
Vice President of Outdoor Hospitality
Mr. Schwab brings 8 years of business development experience and 5 years of outdoor hospitality experience to the Sage team. One of Mr. Schwab’s major contributions to the industry is creating the first quantitative USA glamping report in partnership with Kampgrounds of America (KOA) / Terramor.
Mr. Schwab graduated with an MBA in 2018 with a Master’s Thesis in privatized camping. Since then, he has been fully immersed in the outdoor hospitality sector and completed 50+ site visits in the United States and Africa.
He is based out of the Pacific Northwest and from Portland, Oregon.