CHICAGO – Newcastle Limited is pleased to announce the expansion of its senior leadership team with the addition of Steve Merchant as Managing Director of Multifamily Operations. In his new role, Merchant will be responsible for overseeing the operation of Newcastle's 3,000-unit multifamily portfolio and the team of 100 employees responsible for management and leasing. He will be part of the firm's investment committee and play an essential role in helping to shape Newcastle's investment strategy as the firm continues to grow its portfolio.
"Steve brings a wealth of experience and an impressive track record of creating value in every aspect of residential real estate," said Mike Haney, CEO of Newcastle Limited. "We are happy to have him on board as we continue to grow our portfolio and look to the future during these unprecedented times."
Most recently, Merchant was Managing Director of Operations with Magnolia Capital, a new national real estate investor where he launched the property management division. Prior to his role at Magnolia, he spent 15 years at Equity Residential where he served as a Senior Vice President, contributing to all aspects of operations for the company's 300 multifamily communities, consisting of 80,000 apartments.
Merchant earned a BS from the University of Kansas and holds an MBA from The Wharton School of Business at the University of Pennsylvania. He is a member of the National Apartment Association and the National Multifamily Housing Association.
Newcastle Limited is a real estate investment firm that acquires, develops and owns urban retail and multifamily properties in Chicago. An entrepreneurial investor with institutional backing, the firm can deploy large amounts of capital and close transactions quickly. To learn more about Newcastle, call Michael R. Haney, CEO, at (312) 252-1401 or visit the company's website at newcastlelimited.com.