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Jay H. Massirman,
Senior Managing Partner, Rivergate
Residential, LLC
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Jay founded RIVERGATE in January
of 2007 as a full service real estate company active in the
Acquisition, Management, Advisory/Workout, and Brokerage of
investment real estate.
The formation of Rivergate followed a distinguished 20-year
brokerage career with preeminent global real estate service
provider CB Richard Ellis (CBRE). As vice chairman at CBRE,
Jay was actively involved in the sale and consulting
assignments of more than 300 investment transactions,
including over 76,000 multifamily units in excess of $10
billion in consideration.
The first ten years of his career were spent in a major
market downturn from 1986 through 1996. In this timeframe,
Jay transacted over $2.5 billion in distressed and REO
assets from many of the major financial institutions. This
included most major banks, savings and loans, Fannie Mae,
Freddie Mac, and on behalf of government entities including
RTC, FDIC, and FISLIC. In many of these deals Jay had a
hands-on role in the process of negotiating and structuring
the dispositions. Transaction experience in this distressed
environment included dispositions, acquisitions, consulting,
financing, strategy, and asset management. In 2002 the
condominium conversion wave hit Florida and many major
cities in the U.S., which lasted through 2006. Jay and his
team participated in excess of $5 billion of condo
conversion dispositions during this period.
Transaction expertise covers a broad range of disciplines
including the acquisition, disposition and financing of
retail, office, industrial, hospitality, multifamily and
land. Deal structures have included portfolio sales, single
asset sales, financing, advisory, land assemblages, 1031
exchanges, tax-exempt financing, Federal income tax credit
development, private and institutional capital equity
placement.
In a principal capacity, Jay has been successful in a number
of real estate ventures over the years. He has successfully
invested/developed commercial projects, hotels, self storage
and affordable housing; acquired and sold several apartment
communities; partnered in several condominium conversion
projects; and has invested with quality sponsors in a
variety of real estate projects in all, with an aggregate
value over $500 million. |
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