We are an opportunistic real estate investment firm with deep experience executing complex transactions and unlocking embedded value. Operating in the United States and Mexico with investments in over 10,000 properties.
CSC specializes in identifying markets where young renters are priced out of the newer product and are forced to live in subpar conditions. We identify assets where we can create affordability through density for these renters in the best locations with cutting edge design and quality.
Providing Investment Capital
CSC provides investment capital for multifamily projects in the United States with the intent of capturing the premium in returns generated through density and consolidating a portfolio to create an asset class in an established sector, through smaller yet more affordable units.
Sal Smeke is a co-founder of CSC. For 17 years as a real estate developer, Sal has acquired expertise in different forms of real estate, investing in hospitality, residential, commercial, industrial, student housing and retail. Some of Sal's most remarkable investments were the purchase of the Cipriani property from SL Green (NYSE: SLG) at 110 E. 42nd Street, rapidly growing leases and sold at a considerable profit in less than a year. Acquired Hudson 36, repositioned, increased occupancy, sold air rights to adjacent parcel and reached a 3x multiple in 36 months. Acquired Hell's Kitchen portfolio and completed a 4.3x by repositioning within 3 years. Riff Downtown, shifted to dormitories and sold to Kings University, produced a 4.5x in 4 years. Acquired the iconic Chelsea Star Hotel, increased cashflow, re-negotiated retail rents, sold the upper floors to achieve a 3.4x within 3 years, and the list goes on. At CSC, Sal's primary role is to identify the opportunities, run different business plan scenarios, implement the vision and finally partner with the best in class developer to realize the business plan within months. Sal earned an Executive MBA from London Business School and Columbia Business School (“CBS”), where he is a Paul Milstein RE Association board member.
Alberto Smeke is a co-founder of CSC. Alberto started his career as an investment banker of Credit Agricole CA-CIB's real estate desk. Particularly developing an interest in multi family lending into opportunities where lack of supply for entry level housing priced out new renters. In 2016, Alberto ventured into multifamily investing in Mexico, with the goal of establishing the non existent asset class in the country. Given that most residential product was comprised of larger sized units, young renters had little to no options. In 2016 Alberto partnered with CIM Group to acquire the nomadliving.mx portfolio in Mexico City and Monterrey. Since acquisition he focused on growing unit count, driving rents, reducing expenses and leasing vacant space.
In 2018 Alberto led another partnership with Artha Capital to develop La Victoria; a 1M SF mixed use project in Paseo de La Reforma named which will encompass apartments for sale, rent, hotels, office.
At CSC, Alberto's primary role is leading development and operations for the firm and execute CSC's various business plans.
Alberto has a Bachelors Degree from The Wharton School with a concentration in Real Estate.