Passion and Experience

Our Mission is to provide our residents an economically and emotionally superior lifestyle alternative to apartment living and homeownership.

LUXURY RENTAL HOMES

Based in Houston, the Balcara Group is focused solely on the development of single-family luxury for-rent neighborhoods.

Balcara Group was formed by real estate industry veterans Paul Davey and Ed Steffelin. Together, they have over 50 years and $45 billion of real estate experience across all property types, all levels of the capital stack, and over 12 countries.

Balcara Group employees
Paul Davey
Ed Steffelin

Paul Davey

CEO

Ed Steffelin

CIO

Andrew Spivey
Hayes Saer

Andrew Spivey

Senior Development Associate

Hayes Saer

Vice President

Peter Cancelmo
Natalia Ilin

Peter Cancelmo

Development Associate

Natalia Ilin

Accountant

  • CEO

    Paul Davey has over 30 years of experience in the real estate investment industry, both nationally and globally, and has worked in a variety of roles across all financial products and property types. His residential experience dates back to the late 1980s.

    Education

    Tuck School of Business, Dartmouth College
    MBA, 1996

    Washington & Lee University
    BA, Economics,
    Honors: cum laude

    LinkedIn

  • CIO

    Ed Steffelin has over 25 years of investment experience in structured products, alternative assets, and real estate. He has extensive experience in land development and possesses strong relationships with landowners, developers, and homebuilders.

    Education

    Tuck School of Business, Dartmouth College
    MBA, 1996

    Occidental College
    BA, Economics,
    Honors: Phi Beta Kappa

    LinkedIn

  • Senior Development Associate

    Andrew joined Balcara Group in May of 2022. He focuses on investment origination and development execution. Prior to joining Balcara, Mr. Spivey received an MBA from Rice University after four years working for Balfour Beatty Construction in Washington, DC. At Balfour Beatty he was involved with business acquisitions and project management of predominantly multi-family projects in the DC area.

    Education

    Rice University
    MBA, 2022

    University of Texas at Austin
    BA, Government, 2016

    LinkedIn

  • Senior Development Associate

    Hayes joined Balcara Group in September 2021. He focuses on project management, investment origination, and development execution in the Company’s select markets in the Southeast. Prior to joining Balcara, Mr. Saer spent six years working for Johnson Development Associates where he was responsible for overseeing a variety of development activities across multiple markets and product types.

    Education

    Washington and Lee University
    BSC, Accounting and Business Administration, 2015

    LinkedIn

  • Development Associate

    Peter joined Balcara Group in May of 2021. He focuses on due diligence, development execution, investment operations, and project management of all ongoing and future projects. Prior to joining Balcara, Mr. Cancelmo spent four years in the oilfield services industry where he managed and operated an extensive steel line pipe and OCTG supply chain.

    Education

    Texas Christian University
    BS, Combined Sciences
    Minor: General Business, 2016

    LinkedIn

  • Accountant

    Natalia began working at Balcara in June 2022. She is responsible for firm accounting and cost management. Prior to joining Balcara, Natalia held accounting roles at Revenew, TMK Overseas and TMK IPSCO. Prior to TMK, Natalia worked as a portfolio manager for a private equity real estate firm in Miami, Florida.

    Education

    Higher School of Economics – Moscow, Russia

    BWE, World Economy & Intl Affairs

    University of Houston
    MBA

Ed Steffelin, Balcara Group
Paul Davey, Balcara Group