Home Alts News Shopoff Realty Investments Hires New Chief Financial Officer

Shopoff Realty Investments Hires New Chief Financial Officer

Shopoff Realty Investments, a manager of opportunistic and value-add real estate investments, has appointed a new chief financial officer.

image_pdf

Shopoff Realty Investments, a manager of opportunistic and value-add real estate investments, has hired Mark Schultz to serve as chief financial officer.

As a member of the executive management team, Schultz will assume a “strategic role” in the overall management of the company, and will be accountable for the administrative, financial, and risk management operations.

“Mark will make a wonderful addition to our firm, bringing his extensive experience, and unique perspective as a previous owner and mortgage banker,” said William Shopoff, president and chief executive officer. “Our accounting department is a vital component to the success of our firm and its dynamic investments, and we are confident Mark’s leadership will only further elevate our stellar team of professionals.”

Schultz has more than 35 years of experience in commercial real estate finance and has served as CFO of the Picerne Group, Hopkins Real Estate Group in Orange County, as well as The Broe Group in Denver. He also acted as chief operating officer and CFO for Sower Capital in Omaha.

According to the company, throughout his career, Shultz has closed more than $4 billion in debt and equity and has been involved in the discounted note business, real estate syndication and development, as well as leadership roles of accounting, finance, information technology and mergers and acquisitions teams.

His experience covers national platforms in multifamily, senior housing, affordable housing, office, retail and master planned land developments (including construction, management and operations). He graduated from the University of Iowa with a bachelor’s degree in accounting, DePaul University with an MBA in finance, and is also a certified public accountant.

Shopoff’s former CFO, Ed Morrell, will remain with the firm, but in a new position with the company as its Senior Financial Advisor.

Morrell said, “Working at Shopoff for the past six years has been an exciting journey, and I am pleased to be moving into this new position and pursuing an area of finance that I have always been passionate about, while continuing to be a part of this amazing team. Mark will make a fantastic CFO and I look forward to collaborating with him in my new role.”

Shopoff Realty Investments is an Irvine, California-based real estate firm with a 30-year history of value-add and opportunistic investing across the United States. The company primarily focuses on generating appreciation through the repositioning of commercial income-producing properties and the entitlement of land assets. The 30-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group).

Click here to visit The DI Wire directory page.