Shuki Michaeli is 6 generation Israeli graduated from Hakfar-Hayarok Agricultural High School and was an officer in the Israeli army, moved to the United States in December 1969 and graduated from Cal Poly University from the business administration department. He started his real estate career in the 1970’s by purchasing over 3,000 apartments in Texas and California at an average price of $20,000 an apartment and succeeded in selling those apartment units 3-4 years later for an average of $40,000 an apartment unit averaging more than 500% on leverage properties that were acquired with 20% down payment. Through the 1980’s Shuki Michaeli was instrumental in building Southmark Corporation, a public company, through acquisitions into an 18 billion dollar real estate power house with acquisition of more than 100 hotels over 100 shopping centers and ownership and management of more than 200,000 of apartment units and over 50 high-rise office buildings. In the 1990’s Shuki was an owner of several high-rise office and medical buildings on Ventura Blvd in Los Angeles which he acquired during recession times with very low occupancy (40-50%) and succeeded in rehabilitating these high-rises and selling them at huge profits. Many of those high-rises were acquired from Great West Life Insurance Company and Met Life Insurance Company. These two insurance companies have invited Shuki Michaeli’s expertise to purchase office high-rises which went into default because of the bad economic conditions and low occupancy. They recognized Mr. Michaeli specialty of turning around distressed properties and making a huge profit. It started when Met Life has offered to sell him a 300 rooms Holiday Inn Crown Plaza which was in need of rehabilitation after seeing a major renovation that was done and successful selling of the asset at huge profits. They have used his expertise to purchase many distressed properties.
Beginning of the year 2000’s Shuki has expended his operations to include real estate acquisition in Las Vegas which was in a recession. He succeeded in acquiring two small hotels plus acquiring land to build a major mega resort hotel and casino including several office buildings, shopping centers and apartments.
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