JAY MASSIRMAN
Jay founded Massirman Group and Rivergate Residential following 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.   

His transaction expertise covers a broad range of disciplines including retail, office, industrial, hospitality, multifamily and land. Structures included portfolio sales, assemblages, tax-deferred exchanges, tax-exempt bond deals and subsidized housing.  Jay also has a diverse experience in debt and equity structuring.

In a principal capacity, Jay has been successful in a number of real estate ventures over the years. He has successfully developed commercial projects and has bought and sold many apartment communities.  Over the years he has also participated in several condominium conversion projects and has invested with quality sponsors in a variety of real estate projects with an aggregate value over $500 million.