ProVest Properties, LLC has assembled a management team with exceptional market insight and expertise covering all aspects of commercial real estate, including acquisitions, development, management, marketing, leasing, and dispositions. The company is led by a diversified and integrated team of investors, owners, and operators, with expertise in law, finance, engineering, construction, acquisitions, marketing, leasing and sales.
Charles Vita, Partner, Chief Executive Officer
Mr. Vita obtained his Juris Doctor degree from the University of Southern California Law School and was admitted to the practice of law in New York. In 1985, he started his real estate career in the Investment Property Division of LB Kaye Associates then one of New York City’s largest real estate investment firms. He quickly determined that Northern Manhattan properties were uniquely undervalued and fostering close relationships with buyers, sellers, lenders and contractors, proceeded as principal to complete over two dozen transactions between 1985 and 1987.
In 1987, he joined Josh in Burton Goldberg to form The Goldberg Group, a boutique Park Avenue real estate investment firm. As manager, and a principal investor, his responsibilities included hiring, training, and supervising an acquisition and sales team of 18 agents. During 1987 and 1988, Mr. Vita transacted as principal over 20 New York City apartment buildings. By 1989 he formed Charles Vita & Company, a Madison Avenue real estate firm specializing in Northern Manhattan investment properties. Overseeing a small team of agents, he completed over 35 Manhattan transactions during 1989 and 1990 and was responsible for the management and renovation of numerous multi-family and mixed use properties.
From 1991 through 1996, Mr. Vita identified South Miami beach as undervalued and proceeded to acquire six mixed use and hotel properties. Collaborating with a team of attorneys, architects, engineers , and contractors , he was one of the first South Beach developers to convert ground floor residential to retail and restaurants and to file plans for the co-operative conversion of the upper floors to New York style Lofts with additional rooftop square footage to create duplex penthouses with outdoor patios.
From 1997-2000, Mr. Vita in partnership with PDQ Properties transacted more than 2000 apartments and several hundred thousand feet of commercial property in New York and New Jersey. In 2001, they partnered with Houlihan-Parnes in the largest United States residential transaction of that year; the New Plan Realty Trust Portfolio comprised of 12,500 apartments. Today, the partnership still owns approximately 5,000 units.
In the mid 2000’s Mr. Vita set his sights on retail, specifically focusing on acquiring stable, well located “necessity based” centers leased predominantly to known national and regional retailers in various eastern seaboard markets. His primary objective was and continues to be acquiring stabilized, well located and tenanted centers in economically viable secondary and tertiary markets along the eastern seaboard where he is able to buy at CAP RATES 4 to 5 points higher than current mortgage rates. Today, he is a Partner in over 2,000,000 square feet of commercial property and under contract to purchase an additional 91,000 Square feet of grocery anchored retail due to close by summer 2016.
Mr. Vita is a member of the International Council of Shopping Centers and regularly attends multi-day conferences and seminars to further develop and keep current his knowledge of shopping center acquisition, management, leasing and marketing.
Mark Salomon, Partner, Chief Operating Officer
Mark obtained his BS in Engineering from the Massachusetts Institute of Technology (MIT). In 1982, he joined Southland Corporation as Director of construction, energy, and maintenance for the east coast region, responsible for the construction management and successful expansion of stores, gas stations, and food distribution centers. The consummate entrepreneur, Mark has extensive experience launching, expanding, and managing diverse yet complementary business models. As founder and Chief Executive officer of a residential development Company he produced projects valued at over $200,000,000 throughout the New York area in the 1980’s and 1990’s. In 1990, Mark founded a full service financial platform which currently holds and services $15,000,000 in assets.
Most notable is Mark’s propensity for cultivating and sustaining enduring relationships with strategic Partners through his loyalty, commitment to excellence, integrity, and high ethical standards. By 2003, Mr. Salomon conceived and designed the Owl creek Club, a $200 million dollar project in Athens, New York that included a 600 acre, 18 hole championship golf course, restaurant, clubhouse and fractional ownership communities. This novel concept was the product of extensive due diligence on the part of Mark and his team wherein they created the infrastructure, built the brand, developed marketing materials and networked with professionals throughout the nation to create a 5 star golf course and residential community, sourced and secured vendors and obtained permits.
During the early 2000’s, he and Mr. Vita teamed up to design and build homes in upstate New York. Today they are Partners in One Old Country Road, a 315, 000 square foot Class A office building near Roosevelt Field Mall in Long Island New York; Countryside Plaza, a 197,000 SF grocery-anchored center in Mt. Pleasant, Pennsylvania; Northtowne Commons, a 93,000 SF TJ Maxx-anchored center in Toledo, OH; Forrest Oaks, a 126,000 SF anchored center in Mt. Airy, NC; Eisenhower Crossing, a 81,000 SF Petsmart anchored center in Macon, GA; Springdale Plaza a 179,000 SF Belk anchored center in Camden, SC; Fort Valley, a 71,000 SF grocery-anchored center in Fort Valley, GA; Arlington Square, a 57,000 SF grocery-anchored center in Indianapolis, IN; Village Green, a 46,000 SF grocery-anchored center in Cleveland, OH; Kendallville Plaza, an 89,000 square foot grocery anchored shopping center in Kendallville, Indiana, and MeadowView Estates, a 15 home subdivision in Marlboro, New York. Mark continues to Partner with diverse groups to invest, manage, and develop residential and commercial properties.