In Mike's first 22 years as a licensed broker, he worked with builders and investors to bring real property opportunities to the market. His "search and acquire" campaigns took him in to 27-states, and amounted to over $1.6B in transaction negotiations on more than 40,000 apartment units. Successful transactions were consummated with publicly traded corporations, such as Equity Residential and United Dominion Realty Trust, as well as public agencies like the King and Pierce County Housing Authorities, and Sound Transit. His experience with complex transactions, such as bank-owned assets (REO) and entities in Bankruptcy, has proven invaluable to clients.
He was enticed to transition from Vice President of Brokerage Services to become fee developer on a client's 100-acre land assemblage, where he designed, entitled, permitted, constructed and sold 333 single family lots. After substantial completion of the land development, another client recruited Mike to become Director of Asset Management for their $156M national REO portfolio, until the company's restructuring and substantial liquidation of their portfolio. Mike recently joined the Marcus & Millichap team to return to his core proficiency finding and transacting investment property.
Mike's focus is to identify assets that can generate yields greater than debt rates, that provide leverage without a negative arbitrage. Higher yields are mostly found in value-add opportunities that require capital improvement programs, and more often found in tertiary markets. As a life-long resident of the Seattle area, Mike is most familiar with the neighborhoods and fundamentals found in the King, Pierce, Snohomish and Thurston County, Washington markets.
License: WA: 118037