Michael Mirolla – Business Consultant
Michael has over 25 years of hands-on commercial real estate experience in the following disciplines: underwriting, workouts, loan servicing, development, project management, property and asset management, marketing, capital markets, finance and brokerage.
In the last recessionary cycle (1990s) he repositioned over three (3) billion dollars of assets developing “out-of-the-box” revenue strategies and exits. He had national and global responsibilities for portfolio performance with career revenues/expenditures in the billions of dollars per annum representing: multifamily, retail, office, hotel and land.
Michael started his career at Citibank’s New York Bank where he structured, priced and tracked approximately $5B of residential mortgages. In the early 1990s, as Managing Director at the Galbreath Company, representing GE Investments Corporate Pension Trust’s northeast commercial real estate portfolio, Michael repositioned 4,000,000 square feet of office, hotel and retail products in the Northeast and Midwest. During his tenure, he managed a $250 million bankruptcy for GE with Met Life.
In the Mid 1990s he joined Cushman & Wakefield as SPM for Citicorp Center/399 Park Avenue, NY NY and was promoted to Citibank Portfolio Manager responsible for 8,000,000 s.f. of owned, leased and retail bank branches. Citibank rehired Michael into the Corporate Realty Services group; a global real estate advisory group responsible for advising Citibank’s global region heads. Michael was hired by a New York private equity investment group in the Late 1990s where he repositioned several assets including two one-million square foot office towers in Chicago and Dallas. During his tenure he was involved in the 400,000 s.f. lease renewal of MCI in Chicago and the 100,000 s.f. E & Y lease in Dallas. As a senior executive at Silverstein Properties, the firm that acquired the leasehold for the World Trade Center in New York City in 2001, Michael created the in-house leasing program for the largest luxury apartment building in the U.S., River Place I.
Michael opened his own firm in 2002 and was the developer of a proposed 900,000 s.f. 35-story, mixed use tower consisting of 400 luxury condominiums and 50,000 square feet of retail located in Las Vegas. Prior to the project cancellation, the company sold 60% of the units and obtained $210M in financing. Michael is currently the Managing Member of MI Investments, LLC (www.miinvestments.com) its primary focus is acquiring and deposing of opportunistic OREO and securities (notes) nationwide while consulting in asset management services. In addition, Michael is the CEO of Residence For Patriots Foundation, (www.residenceforpatriots.org) a non-profit whose mission to provide rehabilitated discounted-to-market homes and to restructure delinquent mortgage notes to both active duty military and veterans. Michael has been a guest speaker at real estate functions and hired to consult on projects throughout the country.
Michael earned an MBA in finance from Rutgers University Graduate School of Business where he was president of the student body. He received his BS from Seton Hall University, Stillman School of Business. He was an Adjunct Professor of real estate for the master’s program at New York University School of Continuing and Professional Studies. He is a licensed real estate broker in the State of New York and Nevada; and is a certified real estate instructor in the State of New York.