Fort Lauderdale, FL (PRWEB) October 9, 2007
Michael Casey has joined Skyrise Development Group as Chief Financial Officer, according to David Houri, President of the Florida-based real estate firm that owns, develops and manages international commercial and residential properties. Mr. Casey will direct the marketing, placement and management of private equity funds of the parent corporation's recently launched real estate equity fund - Skyrise Real Estate Capital, L.P. (SREC).
SREC has already begun a $30 Million minimum, $50 Million maximum raise, and is in discussions with several pension funds and institutional investors throughout North America and Canada. Although The Fund has preliminary commitments for the minimum raise amount, it is actively seeking additional partners. It will continue to partner with tier-one financial institutions in order to optimize debt financing on an ongoing basis for development and permanent exit financing.
SREC focuses on three areas of the market still experiencing high growth: new commercial office, multi family / affordable housing and mixed-use developments. The parent company has also taken the lead in the use of "green friendly" technology in all of its new construction projects. The Fund's primary geographic focus is the Central and North Florida region, an area in which Skyrise has extensive experience.
Mr. Casey brings to SREC more than eighteen years of senior finance and investment advisory experience. Prior to joining Skyrise, he was the CFO of Pioneer Commodities, LLC, a successful energy trading firm that traded retail accounts on the NYMEX and COMEX exchanges in the crude oil, RBOB and heating oil markets, as well as a variety of other markets. He has also served as Finance Member of HealthPrime Inc.'s Acquisitions & Due Diligence team, involved in acquisitions of approximately $60M over a two year period.
Today, Skyrise Development Group's real estate properties and holdings span the nation. The Company's scope encompasses financing, acquisition, rezoning and conversions, development and construction. In addition to the U.S. activities, Skyrise Development Group operates active subcontracting divisions in Shanghai, China and Indore, India.
For additional information on Skyrise Real Estate Capital contact Michael Casey at 954-712-9555.
Skyrise Development Group