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Michael Marcus (born February 3, 1965) is an American businessman and real estate investor who co-founded and is the current President of 271 Realty Capital LLC.
Early life and education
editMichael was born Michael Lawrence Marcus in Boston, Massachusetts to Leslie Marcus and Janice (Ritvo) Marcus. In 1969, the family moved to Hingham, Massachusetts where his father worked as a real estate and tax attorney. Michael attended preparatory school at Milton Academy in Milton, MA and graduated in 1983. He attended college at the University of Vermont from 1983-1987 and received a BA in Political Science.
Career
editAlong with their father, Leslie, Michael and David Marcus (born 1961) founded APEX Property Exchange in 1989.[1] APEX was principally engaged in providing IRC Section 1031 Like-Kind Exchange Qualified Intermediary (QI), and Revenue Procedure 2000-37 Exchange Accommodation Titleholder services for real estate, aircraft, and personal property.[2] Clients included Global 1000 companies, real estate investment trusts, real estate operating companies, and financial institutions.
APEX was sold to JPMorgan in 2002 when it was processing over B$25 in transactions annually and maintaining average daily bank balances that exceeded M$800. APEX operated as a subsidiary of JPMorgan Chase Bank within the firm’s Institutional Trust Services division.[3]
Michael left JPMorgan in September of 2002 and formed Booner Capital LLC to invest in renewable energy development companies. Booner invested in utility scale wind energy developments with a pipeline of projects that had more than 10,000MW of wind energy generating capacity. Investments from 2003-2008 in Greenlight Energy, MidWest Renewables, Foresight Energy, Ridgeline Energy, NedPower and WindWorks were followed up with successful exits to Shell, Iberdrola, Veolia, Duke Energy, and Edison Mission.
Michael’s focus shifted to institutional quality single tenant triple net lease real estate in 2012. From 2012 to 2018, Booner was a lead investor in B$1.6 of transactions with the following tenants: Veterans Administration, FBI, Verizon, Walgreens, Xcel Energy, United Healthcare, and Marriott, among others.
In July 2018 Michael and David formed 271 Realty Capital LLC. Since inception, 271 has purchased more than 40 million square feet of property valued over B$4.0. 271 provides debt and equity to buy heavily leveraged high credit quality assets and sells those assets through a Delaware Statutory Trust (DST) structure into the IRC Section 1031 replacement property market.
Personal life
editIn the summer of 1987, following graduation from the University of Vermont, Michael bicycled from his home in Boston, MA to Florida. He spent that winter working at Snowbird, UT. The second leg of his bike trip took him from Seattle to British Columbia and then down to Baja, California. Upon return to the Boston area, he co-founded APEX Property Exchange with his father and brother.
In 2001, Michael married Attorney Jennifer Wallace and they moved from Norwell, MA to West Tisbury, MA on Martha’s Vineyard. The couple has three children and resides in Martha’s Vineyard and Big Sky, Montana. Michael served on the Martha’s Vineyard School Committee from 2010-2018 while his children attended the West Tisbury School.[4] Michael is currently active on the Advisory Board for Chabad on Martha’s Vineyard.
Michael is an avid outdoorsman and frequently participates in the annual Martha's Vineyard Striped Bass & Bluefish Derby.
References
edit- ^ "The Boston Globe from Boston, Massachusetts". Newspapers.com. 1990-07-28. Retrieved 2024-01-16.
- ^ www.bloomberg.com https://www.bloomberg.com/profile/company/89061Z:US?embedded-checkout=true. Retrieved 2024-01-16.
{{cite web}}: Missing or empty|title=(help) - ^ "JP Morgan Expands Corporate Trust Business With Apex Acquisition - Global Custodian". www.globalcustodian.com. Retrieved 2024-01-16.
- ^ "School Committee Race Comes Amid Rising Budget Concerns". The Vineyard Gazette - Martha's Vineyard News. Retrieved 2024-01-16.