The Real Estate Market

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Stephan Gietl is the COO and CFO of the company and focuses on all legal, operational and number work for the firm. He tells us more about the firm and the rationale behind its inception.

“Initially the company focused on acquiring distressed assets and, as markets started to recover in 2012, the company was an early mover with luxury waterfront high-rise developments in Edgewater, Miami, amongst others The Crimson, which name has been derived as reminiscent to the great time at the AMDP program at Harvard University. The Crimson is one the only luxury boutique waterfront condominium development in Edgewater featuring a unique lifestyle only a boutique development can deliver.”

The company is currently in the middle of its 284-unit residential development 50 Paramount in Sarasota, Florida, which is slated for its grand opening in November 2017.

“The company has delivered to its investors exceptional returns up to 60% IRR due to its highly professional and diligent approach in executing projects,” explains Stephan.

“The company’s credo spending significant time on every detail of a project, rather than relying on consultants has dramatically paid off to all stakeholders of the company. The company is highly committed to achieve outstanding results from a design & quality perspective. As such the company is delivering with its 50 Paramount project, rental units which have been designed by interior designers and caters features such as integrated shower niches, opposite faucet control, glass enclosed showers and amongst others island kitchen design which usually can only be found in high end hotels or condominiums. Besides the development activities the company offers a full integrated real estate service such as Brokerage and Property Management. In the last couple of years, the company has created assets exceeding $200 million.”

Stephan tells us more about the dedicated staff members, who play a crucial role in the firm’s overall success.

“We select our staff very carefully,” he says. “We try to match the growth of our firm with the growth potential of our employees. We are proud that that we have a very high retention rate of all our personnel and a very international team to boot.”

Customers are often very impressed by the professional handling of each development step and appreciate the attention to detail that McKafka gives, as well as the quality of the final product. “We are never overpromising and deliver according to our specifications,” explains Stephan.
With regards to the future, Stephan foresees challenges ahead which the company will tackle head on, in order to retain its success rate.

“As the real estate market has turned very hot in the recent 18 months it is currently most difficult to identify reasonably priced development opportunities.

“Looking at the wider picture, changes in interest rates is the single most relevant driver for the next 12 to 24 months.”

Company: McKafka Development Group Name: Stephan Gietl Email: sgietl@mckafka.com Web Address: www.mckafka.com Address: 20900 NE 30th Ave., AVENTURA, FL 33180 Telephone: 1 305 331 5936 (cell)

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