Steve Master began his investing and development career in January of 1994, developing hundreds of acres of high-end residential estate lots. Mr. Master’s success in this effort derived in large part from in-depth research into county building files dating back into the 1800s. He discovered that many of the lots he was investing in could have their boundaries realigned , in lieu of formal subdividing, because of their arcane legal status. This allowed Mr. Master to overcome zoning changes and other lengthy governmental restrictions to subdividing, and thus made the venture significantly more profitable.
In 2000, Mr. Master created Master Towers which quickly became the largest cell-tower owner and manager in the Pacific Northwest. Mr. Master entered this sector after originally being approached by an international telecom provider about building a tower on a property he owned. In response, Mr. Master saw a prime opportunity for vertical real estate investment and instead built and leased out the tower himself. Through contracts, lease option properties, and a strategic acquisition of towers owned by Portland General Electric, Mr. Master grew Master Towers into a 40-tower operation that sold for more than $10 million in 2003. Despite the high barriers to entry in this field, Mr. Master established and grew the venture by navigating the zoning requirements, securing long-term leases, and orchestrating profitable exits.
After selling Master Towers, Mr. Master continued investing by branching off into commercial, office, and mixed-use real estate, focusing on the redevelopment of properties in proven commercial areas.
In 2008 Mr. Master and his affiliates completed construction of two retail centers, the Coburg Station and the UpTown Plaza. Ground broke for these projects at the height of the real estate boom in 2006. Despite the downward spiral of the economy and the challenges it posed, both centers have enjoyed minimal vacancy rates. In 2009 Mr. Master and his affiliates purchased Valley River Station (VRS). VRS is a 4.75 acre site located adjacent to the Valley River Shopping Center, the largest enclosed mall between Portland and San Francisco. Mr. Master and his affiliates continue to develop the site, signing leases with national Tenants and dividing the site into five individual tax lots.
As commercial real estate continued to suffer, Mr. Master turned his focus to student housing developments on and near college campuses that are experiencing year after year enrollment growth. This focus is evident in The Orbit, MW2 and MW8 apartments. The Orbit, located approximately 4 blocks from the University of Oregon in Eugene Oregon, was completed in August of 2010. This boutique student housing product offers 9 furnished units housing 27 beds. The Orbit has been 100% leased since its introduction to the student housing market in 2010. Construction of the MW2 apartments was complete in the fall of 2012. This is another midsized furnished student housing product located near the University of Oregon. This complex offers 13 furnished units housing 29 beds. Mr. Master and his affiliates broke ground on MW8 in July 2012 and expect to complete the project in the summer of 2013. MW8 is a modern student housing product located on Portland State's urban camps. The building will have 54 units housing 129 beds.
In addition to student housing Mr. Master and his affiliates have completed and are developing apartments in downtown urban locations. Two examples of these developments are the Park Place Apartments and the First On Broadway. The Park Place Apartments where completed in the summer of 2012. Mr. Master and his affiliates converted a city office building into 24 luxury apartments. Ground broke on the First On Broadway in July of 2012. The historic building is being converted from retail/office space to 16 luxury loft style apartments and approximately 9,000 sf of new retail space. Both buildings are located in Eugene, Oregon's downtown urban core. Mr. Master continues to unlock opportunity in strategic real estate investments.
Steve Master lives in Eugene, Oregon with his wife Eliza. His son Julian attends the University of Oregon and his son Jade attends Rensselaer Polytechnic Institute. He enjoys the outdoors and is an avid snowboarder. His hobbies also include bike riding and long distance running.
Tim Weiskind started his career in real estate in 1996 as a residential real estate appraiser. In 1998 Mr. Weiskind became an owner in the firm, Appraisal Research Group. While with the firm he performed over 4,000 diverse appraisals. This experience prepared Mr. Weiskind for real estate development. Mr. Weiskind joined Steve Master's team at Master Capital Management in 2008, later to become a managing member. Since that time Mr. Weiskind has had a integral role in Master Capital Management's developments. Including Valley River Station, a 4.75 acre retail development who's tenants include: Red Lobster, Starbucks, Aspen Dental and Noodle Bowl. Mr. Weiskind has also been active in the student housing market. Examples of his work include the Orbit and MW2, these are student apartments near the University of Oregon. And more recently Mr. Weiskind completed construction of the Park Place Apartments, a luxury apartment complex downtown Eugene. Mr. Weiskind's commitment to quality, design, budget and schedule are reflected in his completed projects and his drive to meet the market demands though innovative responsible developments.
Mr. Weiskind has lived in Eugene since 1991 and enjoys many diverse activities with his wife Paige.
Hollie Haas was hired as Director of Operations of Master Capital Management in 2009. Mrs. Haas is responsible for coordinating and managing all aspects of MCM’s marketing, investor relations, and capital raising efforts. Mrs. Haas excels in structuring systems that ensure that each team reaches its short and long term goals. Hollie Haas began her career in real estate in 1994 when she was hired by a local real estate law firm, Doyle, Gartland, Nelson, McCleery & Wade PC. Over the 5 years Mrs. Haas was employed she specialized in real estate transactions and development law participating in the platting of one of the largest luxury home subdivisions in Eugene, Oregon. In 2002 Mrs. Haas earned her Real Estate Broker License and began brokering real estate transactions through Coldwell Banker CIR. She then cooperated in the launch and stabilization of a real estate market center with Keller Williams Realty earning her Principal Real Estate Broker License and was honored with one of the top broker awards in 2006, 2007 and 2008.
Hollie is a native Oregonian and is raising her family of three boys with her husband in Lane County, Oregon. She volunteers in various organizations and currently holds the position of President of a local Babe Ruth (baseball) organization. Hollie has a strong commitment to her community and the success of the businesses in it.
Dustin Locke has been the Marketing Director at Master Capital Management since October 2008. He holds a degree in marketing from Northwest Christian University in Eugene, Oregon. In April 2010 Dustin received his real estate license and has been active in the real estate community since that time.