Corporate Profiles

Charles Vita Chairman & C.E.O. Mr. Vita began his real estate career in 1985 after completing his Juris Doctor degree at The University of Southern California Law School and being admitted to The New York Bar.Early on, Mr. Vita determined that buildings in Northern Manhattan were uniquely undervalued due to NYC rent regulations, lack of conventional financing, and socio-economic factors. He quickly developed expertise in these neighborhoods, inspecting buildings and fostering relationships with owners, brokers, lenders, contractors, and potential buyers. From 1985 to 1987 he completed over two dozen transactions. In 1987 he teamed up with principals Josh and Burton Goldberg to sales manage The Goldberg Group, a boutique Park Avenue real estate acquisition and investment brokerage Company. During the first quarter of 1987 Mr. Vita successfully acquired, financed, and disposed of 14 Manhattan buildings, often holding wraparound mortgages to facilitate the transactions within 30 to 60 day contract periods. By 1989, Mr. Vita formed Charles Vita & Company; a family operated Madison Avenue real estate acquisition Company specializing in northern Manhattan investment properties.Transactions were frequently completed from acquisition through finance and disposition within 45 days and during 1989 Mr. Vita successfully closed as principal 31 Manhattan transactions. In 1991 through 1996 Mr. Vita identified South Beach as an undervalued market and proceeded to acquire and redevelop 6 mixed use properties, building ground floor retail, restaurants, and offices in addition to filing plans for condominium conversion of the upper floors. In 1997, Mr. Vita joined forces with principals Dan Abramson and Paul Cleeman of PDQ Properties focusing his efforts once again in the New York City and New Jersey markets. During the next three years Vita –PDQ transacted more than 2000 apartments and several hundred thousand square feet of commercial property in New York City and New Jersey. Subsequently, in 2001, they Partnered with Houlihan-Parnes on the largest US residential acquisition of the year, the NuPlan Realty Trust Portfolio of 12,500 apartments and the Archon Portfolio of 2500.Today the Partnership still owns approximately 7,900 of these apartments. In the mid 2000’s Mr. Vita and PDQ set their sights on retail, specifically focusing on acquiring stable, well located “necessity based” centers leased predominantly to known national and regional credit retailers in various eastern seaboard markets. Their primary objective was and continues to be acquiring stabilized, well located and tenanted centers in overlooked but economically viable secondary markets along the eastern seaboard where they are able to buy at CAP RATES which are 4 to 5 points higher than current mortgage rates. Today, they are Partners in over 1,700,000 square feet of commercial property and are under contract to purchase an additional 289,000 Square feet of grocery anchored retail due to close by mid-summer 2012. Mr. Vita is a member of the International Council of Shopping Centers. He 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 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, Kendallville Plaza, an 89,000 square foot grocery anchored shopping center in Kendallville, Indiana, and Meadow View 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. John Perri Treasurer & Director of Operations John Perri combines a strong academic background with a real-life, hands-on record of achievement that perfectly suits the needs of ProVest Properties, LLC. John earned his Bachelor of Business Administration in Finance and Investments from Bernard M. Baruch College (CUNY) in 2001. He continued his graduate financial education at The College of St. Rose in Albany, NY, obtaining an MBA in 2006. Early in his career John spent three years as an Investments Analyst at Morgan Stanley.In this capacity he was responsible for attention to detail to monitor intra-Company accounts. He liaised between management and investment advisors, developing and managing systems that ensured accurate tracking of accounts in the fast-paced transaction environment of this major brokerage. Just prior to completion of his graduate work, John was hired by 21st Century Development to oversee development of a $200 million, cutting-edge pending project, The Owl Creek Club, with a 600 acre, 18-hole championship golf course; club house; restaurant; retail store; sports pavilion; and water park, plus a residential component comprising both whole and fractional ownership communities. In addition to coordinating the complex environmental permitting and zoning processes, John was responsible on a daily basis for the solicitation, review, negotiation and management of contracts with multiple consultants, vendors, attorneys, architects, and accountants. John also assumed profit and loss responsibility for a related private mortgage Company under the 21st Century Development corporate umbrella. He handled all billing and collections as well as the interface with clients, owners, investors, accountants, and tax professionals. As his responsibilities expanded and diversified John supervised the acquisition, renovation, and ultimate lease-up of both single family and multi-family buildings. He also negotiated and secured financing for projects and nurtured working relationships in the banking and real estate community as well as local government agencies. He worked closely with the Company’s tax accountants, navigating such complexities as historic tax credits and Empire Zones. In addition to his quantitative skills, John has the vital experience gained from working closely with design, construction and maintenance personnel. His understanding of the realities of real estate renders his financial reporting and monitoring that much more accurate and useful to management and investors alike. On a personal note, John volunteers his time to community efforts and has served as the Coxsackie Rotary Club Treasurer and as the Treasurer of the Coxsackie Area Chamber of Commerce. Jason D. Minard, Esq. General Counsel  Jason serves as General Counsel and consultant to ProVest Properties and ProVest Management, LLC. Jason graduated with honors from Cornell University’s Warren School of Business with a degree in Applied Economics and Business Management. He also graduated with honors from the University of Miami School of Law where he focused on business law, construction law and land use and zoning law. In his current practice Jason has successfully represented clients in cases involving arbitrary changes in zoning and usage that would have adversely impacted both property values and quality of life. His aggressive advocacy has resulted in substantive changes in project plans and in land use regulations. His ability to address complex legal issues without losing sight of the human element enabled Jason to prevail in matters that often seemed stacked against him. He has an in-depth knowledge of real estate development, acquisition, and management issues, including those that arise in smaller population centers where many of ProVest, LLC’s investment properties are found. Early in his career Jason was a prosecutor in the county adjacent to his lifelong home—a high-profile assignment that helped him hone his negotiation skills in a very visible environment. Jason is also the legal advisor to a successful not-for-profit corporation that raises and disperses funds for youth sports programs and scholarships in memory of a fallen soldier who was a neighbor and friend. Jason volunteers for Habitat for Humanity on job sites throughout the Hudson Valley. Jason is admitted to practice in New York State and Federal Courts.