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Scott, Hart Form Solomon Real Estate Group

MINNEAPOLIS-Jay Scott, who will remain a principal at North America Properties, will bring several members of that organization with him as well as the Calhoun Square project. Pat Hart adds financial expertise to the firm.

By Jim McCartney | Updated on December 07, 2004

MINNEAPOLIS-A new real estate development company named Solomon Real Estate Group has been formed by Jay Scott, a principal with North American Properties; and Pat Hart, a principal with Commercial Mortgage Advisors. “The creation of a development company that is well enough capitalized and able to handle large projects, but nimble and entrepreneurial enough to work on projects that don’t fit the “institutional” box, is the fulfillment of my career pursuit,” Scott says.

Scott says he believes Solomon will be able to compete for any type of development opportunity that comes along. Solomon’s real estate development activities will continue to focus on the development of retail and mixed-use properties in the Upper Midwest.

Since opening the local office of North American Properties in 1999, Scott has developed a number of retail properties totaling 1.7 million sf. In addition, he has helped develop three mixed-use projects totaling 1,000 multifamily rental and condominium units. Scott’s retailer relationships include Cub Foods, Kohl’s Department Stores, Byerly’s and Lund’s. In addition, Scott was recently involved in the acquisition and redevelopment of Calhoun Square, an urban shopping complex in the city.

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