Steve Firestone & Michelle Fischer
Managing Partner, Crown Bay Group
Steve Firestone & Michelle Fischer
Steve leads the company’s investment and asset management team. Crown Bay Group’s main focus is on multifamily and select commercial properties. He is responsible for overseeing all aspects of the company’s property acquisitions and dispositions process from deal origination/sourcing through underwriting and analysis, contract negotiations, due diligence, project financing, asset management and disposition.
Steve is a veteran of the real estate industry. He moved into real estate in 1998 and has since been directly involved in many aspects of the industry. He started out buying, rehabbing and managing his own residential portfolio, then moved into redevelopment of outdated residential and commercial properties, and some newbuild housing. Steve managed his company’s property acquisitions, funding, building, and dispositions. He was additionally involved in repositioning larger multifamily complexes and commercial properties. By 2017, Steve was overseeing a portfolio of over $100 million dollars. He has added a substantial increase in value to his properties within a short timeframe with a combination of buying right and implementing core value-add strategies.
“We will be looking to exponentially grow Crown Bay Group’s portfolio over the course of 2020 and beyond searching out good value deals, acquiring properties on a realistic cost basis which have potential to produce above average returns.”
Manager, Director of Crown bay Management, LLC
Michelle is a property Management Executive with 30 years experience in property management, with a focus on property operations, asset management, sales, marketing, staff training, acquisitions and dispositions. She is known in the industry for her strong leadership skills. troubleshooting expertise, and the repositioning of struggling assets. Michelle has an extensive working knowledge of the Atlanta MultiFamily market, as well as managing properties in many other markets throughout the country.
• Previously responsible for the overall operation of over a 10,000 unit portfolio throughout the Southeastern U.S.
• Reviews and approved all Contracts and Bids for Life Safety and Capital Projects per owners approved budgets.
• Responsible for touring and evaluating prospective properties for new acquisitions and performing full due diligence process.
• Sets and articulates the direction of the portfolio, ensures that management practices and approaches are up to date and in line with industry standards, anticipates the need for change and moving the management team forward.
• Successfully monitors the overall operation of each asset in relation to company policy, ensuring compliance with all State and Federal guidelines and ensured the Company’s Mission, Vision and Core Values were followed consistently.
• Creates and maintains the annual Operating budgets and Capital budgets.