Stuart Lichter founded New Mill Capital to complement his real estate business, Industrial Realty Group LLC (IRG) of Downey, CA. Through IRG and affiliated companies, he owns and controls in excess of 90,000,000 square feet of real estate.
Mr. Lichter started acquiring real estate deals in 1977. These acquisitions began as small distressed or mismanaged properties requiring little or no equity and with success gradually grew in size and scope. These properties represent virtually every area of real estate, including office buildings, shopping centers, industrial and warehouse buildings, business parks, hotels, mini- storage facilities, marinas, apartments, and mobile home parks. The common element to these properties is that most were purchased with severe vacancy and/or physical problems and required substantial renovation and/or leasing in order to become economically viable. In virtually every case, these transformations were successful and the value of the assets substantially increased.
In the last ten years, while still involved in a wide variety of properties, Mr. Lichter has increasingly focused his energy on the industrial, commercial, and R & D niche of the marketplace. He has become one of the leading factors in renovating very large industrial complexes that have been closed by major corporations and the federal government. He has successfully recycled these properties into viable multi-tenant complexes. In recent years, he has acquired, in various forms and partnerships, over 75 industrial and commercial properties with a total size in excess of 90,000,000 square feet—making the portfolio the largest private holding of industrial and commercial real estate in the nation.
Mr. Lichter holds a B.S. in Business from Hunter College, part of the City University of New York. He also completed all coursework for an MBA in Finance from Pace University. Additionally, Mr. Lichter satisfactorily completed all coursework and the experience requirement for the M.A.I. designation from the American Institute of Real Estate Appraisers.
Prior to founding New Mill Capital, Mr. Watters was a partner in a leading national industrial auction company. He began in the auction business as a business development associate and eventually became a partner and one of the principal auctioneers. Throughout his time with his prior company, Mr. Watters personally handled and mastered every aspect of the auction and asset liquidation business.
Mr. Watters manages all personal property asset acquisitions and dispositions for New Mill Capital. Throughout Mr. Watters' tenure in the Industrial Auction Industry, he has conducted more than 250 auction acquisitions grossing more than $400 million dollars. Mr. Watters has purchased assets and sold for numerous Fortune 500 and 1000 companies throughout the world.
Mr. Watters holds a BA from University of California at Santa Barbara and is a graduate of The Missouri Auction School.
Gregory Schain manages all real property acquisitions, transactional, and financing services for New Mill Capital.
Prior to founding New Mill Capital, Mr. Schain managed all turnkey assets for Counsel RB Capital, including acquisitions, due diligence, leasing, asset and property management, financial analysis, strategy, and disposition. During his tenure at Counsel RB, Mr. Schain led several large projects, including the acquisition and management of a 950,000 square foot former Fraser Paper mill in Gorham, NH, a 2.2 million square foot former Chrysler facility in Twinsburg, Ohio, and a 140,000 square foot former Unilever facility in Milwaukee. Prior to joining Counsel RB Capital, Mr. Schain was an Assistant Vice President at Industrial Realty Group, where he conducted due diligence and financial modeling for the evaluation and acquisition of over $500 million in industrial, commercial, and government real estate. Mr. Schain conducted the analysis on dozens of acquisitions, including the purchase of Goodyear's World Headquarters and ensuing development plan in Akron, Ohio as well as the six property, five million square foot purchase of excess Whirlpool industrial facilities around the United States.
Mr. Schain started his career as an Associate at Robert Charles Lesser & Company, where he completed over 50 market studies for potential residential and office developments throughout the Western United States Mr. Schain holds a BA in Business Economics and Public Policy from UCLA and an MBA from the UCLA Anderson School of Management.