Michael Zukerman

Posted by on Feb 11, 2011 in | Comments Off on Michael Zukerman

ZukermanthumbMichael Zukerman is the Managing Director and CEO of Whitestone Realty Capital, LLC. Whitestone Realty Capital, Inc (“WRC”) is a developer and real estate investment banking firm.

Mr. Zukerman has been selected by an investment group which will invest $4 billion in core assets to be the asset protector of said Investment Trust. His role will be to monitor and report to the investors to progress and activities of the Investment Manager. One of the Investors in that fund has selected him to be the Investment Manager of a $300 million managed account that will invest 40% in core plus investments, 40% in value added investments and 20% in opportunistic investments. In addition Whitestone has been selected as a co-investment manager for a series of funds whose investment criteria will be 50% opportunistic investments and 50% value added investments.

Some more noteworthy transactions Mr. Zukerman has been involved in include arranging (1) the first $140,000,000 securitized mortgage-backed financing ever completed without credit enhancement in 1991 together with a “follow on” transaction for the same company of similar size in 1993; (2) closing the first $127,000,000 conduit financing ever completed in 1992; (3) acting as financial advisor to a REIT in 1993 ($90 million of equity); (4) coordinating the merger of a shopping center owner operator into a mortgage REIT and creating a large equity REIT that had a capitalization of over $700,000,000 when it was sold; and (5) arranging $200,000,000 financing for an acquirer of environmentally distressed assets in 1997. He presently is lawyer and consultant on the development of hotels for a new 4 star hotel brand.

Mr. Zukerman for 14 years, has led seminars at least 2 times per year on various subjects for the Crittenden National Conference, Crittenden Real Estate Conference and the new Crittenden Multi Family Conference. He has taught numerous seminars for Information Management Network, International Counsel of Shopping Center, the Urban Land Institute, the Newman Institute at Baruch College of the City College of New York. For the past 6 years he has been an adjunct professor at The NYU Schacht Real Estate Institute teaching a course at the graduate level called the Development Process. He has written numerous articles in trade journals on real estate finance focusing on securitization, mezzanine financing and tax credits. He recently has been publishing a series of articles on the present market and different forms of financing in the Scotsman Guide. He has recently also acted as an expert witness in litigation where real estate finance has been at issue.

Mr. Zukerman has been a partner in various entities with, two large shopping center and real estate owner/operators. He has co-developed two shopping centers in Long Island, NY, residential condominiums, the development of a large commercial tract in Indianapolis In, and two discount department stores in New York and Indianapolis .He has owned major interests in two shopping center portfolios each of which had 5 shopping centers.

For many years, Mr. Zukerman has practiced real estate law, concentrating his practice in the areas of real estate secured lending, from the lender and the borrower side, real estate development and acquisitions. He is presently “of counsel” to Warshaw Burstein, LLP in New York City. Website: http://www.wbcsk.com.

Mr. Zukerman has represented investment banks including Credit Suisse First Boston, Morgan Stanley, Paine Webber Securities, Nomura Securities, Donaldson Lufkin and Jenrette, and Daiwa Securities, in conduit financing and interim financing, and Bear Stearns, Donaldson Lufkin Jenrette, Prudential Securities, EF Hutton and Drexel Burnham for syndications. He has also represented lenders in mezzanine financing, equity and preferred equity and has created a number of real estate investment funds. He was broker on the first credit lease-financing conduit, and was lawyer in the first mortgage conduit ever done. He has represented borrowers in numerous transactions including a joint venture between Credit Suisse First Boston and Dames Moore Brookhill to acquire $125 million loan and workout portfolio. He represented two Reits that were going public in the 1990s and the merger of a private company into a REIT that had a Market Capitalization of over $700 million before it was sold. His expertise includes the representation of borrowers and lenders in all phases of dealing with troubled real estate including loan workouts, foreclosures and the ultimate disposition of real estate collateral acquired by lenders. Mr. Zukerman has represented two investors in real estate development projects and taught both of them risk analysis. He taught risk analysis and feasibility to another major investment fund. He has been real estate counsel and real estate advisor to a number of real estate developers including two shopping center developers and two apartment developers. He presently is advising a major clothing brand in its development of 4-5 star hotels with condo development and a club attached. He has worked as real estate counsel and real estate advisor on the acquisition of over 1 Billion worth of real estate assets.

Mr. Zukerman was previously: (1) a director of Watsco Inc a company listed on the New York Stock Exchange for 9 yrs; (2) member of the board of directors of Programmed Tax Systems and Programmed Bookkeeping Systems two affiliated companies listed on Nasdaq for 8 yrs; (3). He is presently a member of the Advisory Board of Metro Capital LLC. (4) Previously a Member of the board of the Asperger’s International Foundation for 6 years; (6) He was also a member of the board of Temple Beth Torah in Melville, NY for 12 years, and (7) The YMHA of Suffolk County 4 years. He served for two years on a board for the Town of Greenburgh, NY for the development district of Hartsdale, NY.

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