In 2005, after five years of successful personal real estate investing and the acquisition/disposition of properties in excess of $30 million, Michael launched ReNUE Properties. The vision behind ReNUE Properties is to help others realize and accomplish their long term financial goals by simplifying the Real Estate investment process.
As Managing Director, Michael identifies and implements the overall investment strategy, with the primary objective being to add value- both to the investor and the community. He oversees raising capital, by creating and maintaining a professional and a personal relationship with investors and partners. Michael leverages his extensive knowledge by providing opportunities to investors that they might otherwise not have access to. He finds transforming under-performing properties into thriving communities extremely fulfilling.
When Michael is not in the office he enjoys an array of activities with his family. He and his wife, Brianne have four children; Liam, Seth, Maeva and Oliver. The kids keep them quite busy with school and athletics. When they are not tied to a schedule the whole family loves water sports and winter skiing.
James joined the ReNUE team in 2011. In his role as Vice President of Operations he oversees all aspects of ReNUE's investment platform. James is responsible for creating and implementing comprehensive investment strategies throughout the investment cycle. This includes overseeing all acquisitions, asset management and (re)development activity, along with originating debt and equity on new and existing assets. James holds a Bachelor's of Business Administration degree majoring in Accounting.
Outside of the office you can find James golfing or playing hockey. He and his wife, Lauren enjoy traveling and exploring the local food scene.
Melissa joined the ReNUE team in 2016. She has worked in many areas of real estate from residential sales, loan processing, multi-family property management and luxury hospitality investment. She serves as the Executive Assistant to ReNUE and manages due diligence for financing transactions, dispositions and acquisitions as well as the day-to-day operations of the office. She holds an Associates in Business degree focused on accounting.
When she is not in the office she is raising her two young boys Hank and Olly, creating healthy meals, spending time with family and friends and hiking.
ReNUE Properties is a real estate investment firm specializing in the acquisition and rejuvenation of under-performing, multi-family properties. The strategy is restoring distressed or under-performing properties into thriving communities. ReNUE has successfully transformed properties in Canada and the United States. Currently operating close to 2,173 units in Arizona, New Mexico and North Dakota.
ReNUE Properties identifies large (typically 100 units or more) properties that are distressed or under-performing that can be turned around with capital improvements and prudent management thus increasing the value. After purchasing a property, often at a significant discount to replacement cost, a custom plan is put into place that will transform it from simply an apartment complex to a thriving community. These improvements ultimately bring a sense of pride to the residents and increased value to the investor.
ReNUE Properties holds a high standard when it comes to excellence, efficiency and relationships; including investors, partners, management, residents. ReNUE strives to become the premier multifamily community operator in each market we enter. We believe in adding value to the place so many call home along with an opportunity for investors to see above average returns.
ReNUE Properties acquires properties with a combination of both debt and equity. On the equity side first and foremost the principals of ReNUE participate in every deal by contributing a minimum of 10% of the capital required and often times substantially more. This sets us apart from a lot of the other sponsors in the marketplace that simply do not have the investment capital to invest themselves. Our company has a very long standing, enviable track record and as such we are extremely well capitalized and able to participate in every single deal that we do. We feel that by contributing a minimum of 10% of the required capital it not only gives the investor comfort but also helps align everyone's interest in the partnership.
On the debt side ReNUE leverages its corporate balance sheet and track record to obtain the best financing rates possible. Due to our great performance history and the fact that we have never lost a property to foreclosure we are able to obtain some of the best financing offers in the marketplace. By using responsible levels of debt which never exceed 80% of the value of the property we are able to use this leverage to once again enhance investor returns.
ReNUE Properties also does not mark up any property that it acquires on behalf of the partnership. For our efforts in acquiring the asset we charge the partnership a 1% acquisition fee and 1% annual asset management fee which goes towards covering our overhead and operating costs. In order to align our sponsor interests with the investors interest the bulk of our compensation comes from profit participation on the back end of the project which again sets us apart from our competition. By choosing not to mark up properties to the partnership or charging high fees along the way we are able to greatly improve overall investor profits.
|Property||Units||Purchase Price||Purchase Date||Fund Size||Value / Sale Price||Sale Date|
|Metro on 19th |
|ReNUE on Orange||110||$5,802,500.00||05/2013||$1,300,000.00||$13,000,000.00||03/2018|
|Elm Estates Mobile Home Park||124||$6,800,000.00||08/2013||$4,000,000.00||$11,480,000.00|
|Cantata at the Trails||260||$32,500,000.00||08/2015||$7,567,152.48||$42,500,000.00|
|Desert Eagle Estates||196||$18,100,000.00||11/2017||$4,530,640.00||$20,000,000.00|
|Sierra Verde Villas||58||$6,250,000.00||07/2017||$2,150,000.00||$7,500,000.00|
|Lake Pleasant Village||152||$15,750,000.00||08/2018||$5,513,000.00||$15,750,000.00|