MIAMI—A nationwide multifamily investment and development company headquartered in Miami, Ytech International has invested in some 7,000 apartments and currently owns or operates a $300-million portfolio of 3,000 units in Florida and Texas, with $40 million in rental revenue in 2013. Yamal Yidios Char, 32, founded it from scratch in 2005.
“There will be many opportunities in the industrial sector and urban mixed-use properties,” Char tells GlobeSt.com. “Moderate- and high-income apartment investment prospects remain among the strongest. Retail has been slower to rebound here in Florida than other property types. However, with improved GDP and steady employment growth, retailers will expand in 2014. Nonetheless, consumer confidence is increasing in south Florida, and retail in urban infill areas is expected to improve along with it.”
Char has created over 50 holding companies and subsidiaries including Ytech Development, Ytech Lenders, Ytech Realty, Ytech Financial, Ytech Investments, Ytech R.E. Holdings, and Ytech Construction. Currently Ytech's portfolio counts 1,700 units in South Florida and 1,300 units in Houston; single-family home subdivisions; three retail assets totaling more than 200,000 square feet; an ownership interest in a 10,000-acre master-planned community; and 500,000 square feet of class A and B office space.
Char's short term goals are to maintain and manage the company's existing portfolio of multifamily residential assets. His long term goals are to expand into new construction in South Florida, specifically ground up vertical construction.
In March of 2014, Ytech hired a director of development with 25 years of experience in real estate development and construction. His expertise acquiring and delivering profitable, quality assets, and supervising new construction, is critically important as the company identifies new real estate opportunities and expands to the next level.
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