Markaz’s real estate operation in the United States was established in 1978 with the launching of our first syndicated real estate investment in the United States.
Markaz has been enlarging its operation by capitalizing on identified emerging trends in the real estate market and subsequently, accessing the corresponding opportunities through our fully owned subsidiary, Mar-Gulf Management, Inc., located in Los Angeles, California that was established in 1988.
Mar-Gulf Management, Inc. (MGMI)
Acts as Markaz’s asset management arm in the United States.
Has a team of professionals with, on average, more than 20 years of experience in the acquisition, disposition, development, and management of real estate properties in the United States.
Over the years, Mar-Gulf has developed or acquired over 68 properties with a total development / acquisition cost in excess of US$ 1 billion. Mar-Gulf currently manages US$ 562 million of real estate assets in three real estate funds. The first fund comprises of 12 warehousing properties across 7 states. The second fund is composed of 13 retail properties across 5 states. The third fund is a portfolio of 3 apartment development projects located in Arizona, Colorado and Washington. In 2006 and 2007, Markaz liquidated one of its retail funds prior to maturity and sold all of its direct investments in office properties, realizing annual returns in excess of 20% in each case.