Michael E. Foster- President
Summary- Mike has over 31 years of extensive real estate investing experience in 13 countries around the world. His key areas of expertise include building and running major real estate management companies and organizations, managing all types of local operating partners, and achieving exceptional results thru value added best in class management practices.
Since retiring from MS in April 2008, Mike has provided consulting services to various client funds and companies in Germany, France, Spain, Italy, Turkey and the U.S.
In addition, Mike serves on several select boards and investment committees of various real estate firms and funds, both in the U.S. and in Europe.
Specifically and of note, in 2009 Mike was the lead in building a new German real estate asset management company in Frankfurt, with branches in Berlin, Munich and Hamburg, with over $7BN of assets under management from day one. In 2009 Mike served as its first CEO and then in 2010/2011 as its Chairman. This company is now being sold by its shareholder for bank regulatory considerations.
Then in 2012, Mike was hired to help liquidate, in a highly controlled manner, the residual real estate investments in France and Italy of a large U.S. Investment Bank recently emerging from bankruptcy.
The portfolio is very diverse and distressed, requiring strong new leadership and pro-active asset management for over $1BN of AUM.
Most recently in 2013, Mike was hired to help turnaround a stalled and broken office office developement in Ankara,Turkey. The project was 2.5 years behind schedule and almost 100% over budget.
Quickly replacing the local Project Manager and the lead management at the General Contractor, today the project is back on schedule with a much stronger controlled budget.
Mike continues to provide extensive real estate consulting and senior advisory services to a range of clients here in the U.S. and abroad in Europe and Asia
Mike retired from Morgan Stanley as a Managing Director in April 2008.
Mike was the Global Head of Asset Management and the CEO of Morgan Stanley Properties for all of the Morgan Stanley family of real estate Funds worldwide.
Mike joined Morgan Stanley in 1994 in order to build the MS real estate asset management organization from its NPL roots in the U.S. RTC crisis in 1991 thru his retirement in 2008.
This organization grew to over $90BN of assets under management with over 200 in house professionals and over 50 different third party operating partners in 13 countries throughout the world.
From 1987 to 1994, Mike worked at Goldman Sachs in their Whitehall Fund’s Real Estate Asset Management Group, helping to grow that organization and start the joint venture with the J.E. Robert Company (now known as Archon).
Prior to joining Goldman Sachs, he was Director of Operations and Corporate Real Estate at TIE/Communications in Shelton, Connecticut for five years and prior to that was Vice President of Operations at Citibank in the General Services Group in New York for six years.
Mike received his MBA from Bryant College and is a 1970 graduate of Holy Cross College. He holds a New York State Real Estate brokers license, an SEC Series 7 certification (now in passive status), and the designation of Certified Property Manager (CPM) as an active member of the Institute of Real Estate Management.
He was active in the Urban Land Institute, the International Council of Shopping Centers and the Real Estate Board of New York.
Mike is also a retired Captain in the U.S. Naval Reserves