MIAMI'S NEXT URBAN EVOLUTION
- Adler has deployed $330 million in equity capital acquiring over $900 million in assets and 13 million square feet.
- Robust real estate portfolio of approximately nine million square feet of commercial properties, 1,300 units of residential development and 300 acres of developable land
- Acquired a 167-acre property for Miami International Commerce Center (MICC), which built out to over four million square feet. MICC is one of the largest mixed-use parks in the Southeast US.
- Investment, management, development firm
- Established track record since founding in 2007, 43 investments to date total $425M in equity and $1.5B in total project costs and are projected to return a 2.5x multiple on invested capital
- Geographic focus on South Florida, intimate knowledge of the local market
- Deep expertise in sourcing, capitalization, design, development, asset management, operations
Mr. Karsenti is responsible for defining the firm’s investment strategy and overall capitalization model. Mr. Karsenti is focused on opportunity sourcing, revenue generation and fund raising from investors and lenders. Mr. Karsenti has effectuated and participated in >$1Bn in real estate and private equity transactions. Mr. Karsenti graduated cum laude from the Pratt School of Engineering at Duke University, with a degree in Mechanical Engineering, and holds an MBA from the Harvard Business School.
As the chairman and chief executive officer of Adler Group, Inc., one of South Florida’s largest and most successful real estate companies, Michael M. Adler has played a significant role in the growth and development of South Florida as a major center for international trade. Michael graduated from the University of Miami with a bachelor’s degree in business administration in 1973. He is a member of the National Association of Industrial & Office Properties (NAIOP), the Beacon Council and Greater Miami Chamber.
David S. Adler is the president of Adler Development, LLC, the development and project management division of Adler Group, Inc. In this position, he is responsible for contributing to the development and acquisition of high-rise multifamily, industrial, office and retail properties. David is a member of the Florida International University Foundation Board of Directors; is a dedicated member of the Young Founders Club at Mount Sinai Medical Center; and is the Treasurer of the Jewish Museum of Florida.
Mr. Melendi oversees the development, construction, and operations of the fund’s assets. His areas of expertise include construction, development, entitlement, and permitting. Previously, Mr. Melendi was the Director of REO at Rialto Capital where he managed >$300M in REO properties. Prior to this, Mr. Melendi spent 17 years at Lennar. He holds an associate degree in Criminal Justice and has a General Contractor’s License.
Jonathan Raiffe is the Chief Operating Officer of Adler Group. In this position, he is responsible for all day to day activities of the company including acquisition, investment, predevelopment, construction and financial management of all developing projects. Raiffe formerly served as Adler Group’s Director of Finance. Raiffe earned a Bachelor of Arts, majoring in anthropology, and a Bachelor of Science in Business Administration, from Washington University. He also received a Master of Science in Finance and a Master of Science in International Real Estate from Florida International University.
Mr. Stolear recently joined the team to coordinate the Link at Douglas Project. Prior to joining 13th Floor, Mr. Stolear worked in Project Management & Execution at ExxonMobil Development Company. There, he worked on a variety of project management functions developing infrastructure projects. He graduated as Magna Cum Laude in Civil Engineering from the University of Florida and holds an MBA from the Harvard Business School.
Daryl. A. Shevin, CFA, joined 13th Floor Investments as CFO in 2010. In his role, Mr. Shevin's primary responsibilities include overseeing all financial aspects of the firm. Mr. Shevin has facilitated the closing of $340 million of debt and $285 million in equity across 30 vehicles while at 13th Floor. Additionally, Mr. Shevin oversees 13th Floor's Investor Relations team, which administers and reports on the firm's $1 Billion in real estate asset value.