By Andrew Weiland , of SBT
Published February 20, 2009
Real estate development has slowed considerably during the recession, and many real estate development firms are sitting on the sidelines, absorbing losses for now and hoping to ride out the storm.
However, the owners of Glendale-based HSI Development Partners LLC, a new full-service real estate firm, see opportunity in this down market and are hoping to take advantage.
The firm recently completed its development of a 155,000-square-foot building in Milwaukee’s Menomonee Valley for Derse Inc.’s new headquarters, and now HSI is planning two new apartment complex developments.
HSI’s co-owners and principals are Ryan Schultz and Brett Haney. They founded the company in 2007. Before they started the firm, Schultz was the director of development for Milwaukee-based Fiduciary Real Estate Development Inc., and prior to that he was vice president of development for Brookfield-based MLG Development. Prior to forming HSI, Haney was a senior development coordinator for MLG Development.
The success of the Derse building development establishes credibility for HSI as Schultz and Haney plan to grow the company and pursue more projects. The building is a signature project for the firm, and Schultz and Haney believe they can use it to help them attract investors and bank financing for future projects
“This (Derse building) is a track record for us,” Schultz said. “We delivered the project under budget and on time.”
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