Mountain Real Estate Group, a buyer of distressed bank assets and a private capital source for real estate developers, builders and operators, has made a strategic move in its national expansion plan by opening up a New York office.
Located at 50 Main Street in White Plains, Mountain’s new office is the firm’s eighth regional office in the U.S.
Rodney Montag, who has more than 25 years of commercial real estate development, homebuilding and investment market experience, will head the New York operation.
“Rodney’s reputation is well known in our industry and he brings a wealth of high-level experience to help push our brand well into the Eastern seaboard,” said Peter Fioretti, Mountain’s chief executive officer.
“A New York presence is a major advancement in Mountain’s overall business plan and continued national expansion. Rodney’s outstanding development and homebuilding track record is steeped in success and his banking and development background will prove to be a valuable tool for our work throughout the region while also adding to the firm’s national platform.”
Montag recently joined the firm’s equity investment arm, Mountain Real Estate Capital. Previously, he held senior positions at Cantor Fitzgerald and WCI Communities where he worked in real estate development, homebuilding and investment banking.
To date, he has been involved in the acquisition and development of over 40 projects totaling over 6,000 residential units with a sellout value of over $3 billion. Montag’s deep experience in the structuring of complex residential development projects will allow Mountain to continue to expand their portfolio acquisition and builder joint venture businesses, particularly with New York’s money center banks and more prominent developers.
Mountain was founded in 1993 and has since become a leading private capital source for real estate developers, builders and operators seeking to enhance value in their existing projects or to take advantage of new opportunities.
Headquartered in Charlotte, N.C., Mountain’s homebuilder joint venture and asset management group is based in Minneapolis, while its national origination and asset management teams have additional offices in Atlanta, Los Angeles, Richmond, Newport Beach, Washington, D.C. and now NYC.