Michael Werner

Michael B. Werner’s experience in the real estate industry began in 1972 with the purchase of his first property in Miami Beach, Florida. For almost 45 years, he has owned and operated over 100 properties in 15 states. Mr. Werner has been involved in a variety of real estate developments including, but not limited to, apartment buildings (prior to the recession he owned and redeveloped eight individual apartment projects in Las Vegas, Henderson and Clark County including numerous parcels in downtown Las Vegas), office buildings, shopping centers, commercial and residential land for development. He has built single family houses and apartment communities and has converted thousands of rental apartments to condominiums for individual ownership. Mr. Werner has entitled many parcels of property and has successfully marketed those properties for future development.

Mr. Werner’s office is in Las Vegas where he has the majority of his active real estate portfolio and has maintained a residence since 2006. He has had a significant interest in approximately 3,000 apartments in Las Vegas, many of which were converted to condominiums and sold prior to the advent of the “recession”.

In addition, Mr. Werner was a managing partner of the development team for the Las Vegas Metropolitan Police Department facility on Martin Luther King Boulevard in Las Vegas. Construction included three buildings of approximately 400,000 square feet and structured parking for approximately 1200 vehicles. The project was delivered to the LVMPD on July 1, 2011. His responsibilities included participating in land entitlement, bond financing, lease discussions and negotiations, choosing of the general contractor, architect and project supervisors; building out of the site according to the requirements of Metro, delivery of the project on time and on budget and asset managing the property until disposition to Clark County when it's option to acquire was exercised.

Mr. Werner has had significant interest in approximately ten other diverse properties in the greater Las Vegas area, of all property types including:

A. A densely entitled residential property on Stephanie just south of 215, purchased from former owners during the recession and then working with the city of Henderson to re entitle for a WinCo grocery store (first in the valley) a bank and a charter school all compatibly sharing the site.

B. The Gold Spike Hotel and Travel Inn on Ogden and Las Vegas Blvd in downtown Las Vegas acquired just prior to the advent of the recession and redeveloped into a single, well regarded and successful operating hotel casino. It was eventually sold to an entity controlled by Tony Hsieh for a key component of his downtown development.

C. The Lennox apartment project, located just east of the corner of Bermuda and Cactus Avenues, was purchased from a lender after its foreclosure. It was approximately 30% complete at time of purchase. Mr. Werner’s team financed and developed it into a class A 100 unit apartment project.

D. The Red Rock Business Center, located south of Russell Road and east of I215 at 6140-6180 Brent Thurman Way, purchased from US Bank was about 40% complete and comprised of two 35,000 square foot office buildings. When completed the buildings were fully rented to a group of service-based tenants and subsequently sold to a long-term investor.

E. The Rainbow Sunset Pavilion, located at 6485 S. Rainbow Boulevard just north of I-215, is a class A 104,000 square foot office building purchased from US Bank. It was about 75% complete with no tenants. Mr. Werner’s team subsequently completed and rented 100% of the property to credit tenants with long term leases. Additional property was acquired for added parking for the Rainbow tenants. A portion of the newly acquired land was leased to Federal Express for their overflow parking at their Rainbow and 215 facility. This property was sold in 2017 for over $300/square foot

F. The Gramercy, mixed use property, located at 9265 West Russell Road just west of I-215, (formerly known as Manhattan West) was partially developed when acquired. It now comprises about 200,000 square feet of office and retail in two buildings, 100% leased and almost completely occupied, and 160 luxury midrise apartments also almost completely occupied. There is for all buildings a substantial complement of underground parking. The additional land (approximately nine acres) is heavily entitled. Mr. Werner and his partners were planning additional development as there is demand for apartments, office space and commercial use in the immediate submarket. They sold the property in two transactions (2017 & 2018) for continued use and development by others.

In addition, Mr. Werner presently owns improved and unimproved properties in various states, including Florida, North Carolina, New York, Colorado, Arizona, Nevada and Hawaii.

Despite the variables that affect the real estate industry from time to time, Mr. Werner’s 45 years of knowledge and hands on approach has enabled him to maintain a successful track record. This has not only benefited him personally

but benefited individuals and corporations he has been associated with over the years.

Mr. Werner attended the University of Illinois undergraduate earning a B.S. in accounting in l964; then the University of Illinois, School of Law, earning a JD degree in l967; then the University of Miami, earning a master’s in Law and Taxation in l969. Mr. Werner is an inactive attorney, in good standing, in Illinois Florida. In 1988, Mr. Werner made the decision to close his law practice to concentrate full time on his passion for real estate development.

Mr. Werner and his wife, Dana, maintain residences in Las Vegas, Nevada, Bal Harbour, Florida, New York City, New York, and Aspen, Colorado. The Werners enjoy spending their leisure time with their large family, including 9 grown children and 29 grandchildren.

The Werners are active in Jewish related causes, specifically American Israeli Public Affairs Committee (AIPAC), the Jewish Federation, and The Friends of Israel Defense Forces (FIDF). They are founders of Mount Sinai Hospital on Miami Beach, Donors to Aspen Valley Hospital in Colorado, Charter member of the Shul of Bal Harbour Florida, and Charter member of the Chabad Synagogue in Aspen Colorado.

He supports the University of Illinois Foundation, University of Illinois Law School, University of Nevada Las Vegas (UNLV) Foundation, the University of Nevada Las Vegas Medical school, University of Miami Health Campus, and the University of Nevada Las Vegas Medical School. He has been active in The Urban Land Institute (ULI), a nonprofit education and research institute with focus on the use of land in order to enhance the total environment, the International Council of Shopping Centers (ICSC), and NAIOP: Commercial Real Estate Development Association. In addition, he donates to Opportunity Village, Boy Scouts of America, Touro University Nevada, and many other community and national charities.

Email: mbwiea@mac..com

Amber B Garfinkle
Designer

amber@wggroupllc.com