Occasionally, WRC will evaluate co-development opportunities on a principal basis with land owners and small-to-medium-sized developers seeking a joint venture with a stronger development partner to enhance a project’s likelihood of success. In this role, WRC offers vital assistance ranging from executing and facilitating land acquisition; design, structure and hiring of the on-site development team; coordinating and managing project sub-contractors and outside consultants including architects, engineers, environmental specialists; and overseeing all construction and development to ensure timely completion that is on or under budget.
WRC will also work as a principal with owners/developers who may not have the know-how to determine the viability of a project, but do not necessarily have the wherewithal to turn a conceptual blueprint into a financially viable real estate development. Where WRC is acting as an agent, it will also consider deferring or forgoing a portion of their fees for minority ownership in the projects they shepherd through development. Aligning economic interests with those of the owner/investor provides a sense of trust and comfort for clients. WRC is also acting as a principal in developing hotels, mixed-use resorts and residential projects with landowners. WRC’s vertically integrated platform allows our clients to focus on their core strengths while we insure their real estate initiative is properly and efficiently executed in a risk managed environment. Insuring the process begins with reaching complete goal alignment with clients. Each project is taken through the necessary phases for successful execution.
WRC is interested in the following asset classes:
- Full Service, Balanced Service, All-Suite and Boutique Hotels, specifically historic redevelopments
- Mixed-Use Properties including some or all hotels, condominiums, single family, office and retail components
- Independent Living, Assisted Living, Affordable Housing projects
- Work Force Housing opportunities
- Multi-family projects, including historic redevelopments and HUD-qualified projects
- Single Family developments
Mike Zukerman in Scotsman Guide
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Michael 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.
Marv Eisen is a Director of Whitestone Realty Capital (WRC). Prior to joining WRC, Mr. Eisen was a Vice President in his family’s manufacturing business that specialized in apparel for the military, police and fire departments as well as producing metal stampings for General Motors and Ford. A mechanical engineering graduate of the University of Pittsburgh, Mr. Eisen’s responsibilities included oversight of manufacturing operations in 3 plants, supervising 160 direct employees in the firm’s manufacturing operations. The company owned two buildings, and Mr. Eisen was instrumental in building acquisitions and utility infrastructure. Mr. Eisen’s responsibilities at WRC include transaction origination; underwriting due diligence; active participation in lender/investor sourcing and negotiations; and ongoing account management.