Sureste Property Group LLC, a broad-based asset management firm with corporate offices in Atlanta and Miami, is pleased to announce the addition of Forrest D. Bailey as President and Chief Operating Officer. “I am excited to have Forrest lead the real estate operations and with his leadership we will accomplish the goals for Sureste in becoming a leading owner and developer for housing in the “missing middle”. I am personally committed to helping solve our shortage of housing in the country”, stated Michael Crow, CEO and Founder of the Sureste group of companies.
As President and Chief Operating Officer of Sureste Property Group, Forrest oversees the daily operations of the real estate business with full profit and loss responsibilities for asset and property management, construction and development, and portfolio management and operations. Focusing on attainable housing for people in the “missing middle” of real estate Sureste continues to pursue value-add acquisitions as well as embarking on a program of new development of Build to Rent (BTR) product primarily in the southeastern United States. Sureste currently has over 10 projects and 2,500 units in development for BTR.
Michael Crow, the CEO and Founder of the Sureste group of companies, will retain the CEO and CIO responsibilities and will focus on expanding the capital markets activity including the creation of new funding avenues, portfolio acquisitions and new business joint ventures. Sureste has launched Sureste Capital Management which will be based in the new Miami office opening in September 2022.
Forrest D. Bailey formerly was President and CEO of Draper and Kramer, Incorporated (D&K) a $2 billion vertically integrated real estate company. Based in Chicago, D&K is a privately held Property and Financial Service & Investment Firm providing a broad range of services and managing a large portfolio of real estate investments. In his career and in addition to President and CEO, he has held positions as Chief Financial Officer, Director of Asset Management and as Commercial Mortgage Banker.
Focusing on organic growth, and select acquisitions, dispositions, and consolidation of business operations, he reinvented and re-energized the Family Business Enterprise (FBE), including repositioning businesses across several industries plus direct investments in real estate to withstand temporal and financial changes. Achieved 5X growth in Net Asset Value (NAV) of the FBE doubling and redoubling each decade.
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