“Real estate – selling fast and foreign” recently made headline news when mckafka Development Group principals Fernando Levy Hara and Stephan Gietl were featured on a national CNBC segment. The focus of the story was the newsworthy success of their real estate development firm, specializing in the acquisition of distressed properties by purchasing condominiums in default, loans in default and real estate owned bank properties in South Florida.
Business and community leaders attending the Aventura Marketing Council’s Chairman’s Roundtable luncheon had an opportunity to see the CNBC segment featuring interviews with Hara and Gietl; and meet keynote speaker Dr. Andreas Staribacher, Austria’s former Federal Minister of Finance.
Before Staribacher shared insights about the future of the economy in the United States and Europe, Bob Hollander of Brown & Brown Insurance standing in for AMC Chair Cliff Schulman of Weiss, Serota, Helfman, welcomed guests to Christine Lee’s at Gulfstream Park.
Levy Hara explained that in 2009, he and Gietl co-founded Aventura-based mckafka Development Group – merging their visionary concepts to create a business plan offering sound investment solutions in a volatile business environment. In less than two years, mckafka brought more than 250 condominium units in South Florida to international investors.
Benchmarks of the firm’s success include the acquisition and expeditious sale of residences at Village East and Las Olas by the River in Fort Lauderdale, as well as condo units in premier downtown Miami buildings. The CNBC segment emphasized, “mckafka Development Group turned a thirty-percent profit on a Fort Lauderdale condo conversion in less than a year!”
“We’re very optimistic about the future of this country and the global economy,” Levy Hara said. “Although this is a tough time, this is still the land of opportunity and the strongest economy in the world.”
During Dr. Staribacher’s introduction, AMC members learned he is revered for a rare specialty : “Understanding the U.S. and European economies within a global context.”
Much of Staribacher’s presentation focused on why he feels economic recovery will happen much faster in the U.S. than in Europe. “I believe Europe’s problems are more serious because U.S. issues are more politically oriented but in Europe, they’re more financial. Also America is ‘one country, one system, one currency, two parties’ – while in Europe, there are so many factions – achieving ‘financial unity’ and compromise may never happen.”
Staribacher also noted he agrees with economists who feel issuing a common euro zone bond may be one of the only ways to stem the sovereign debt crisis threatening to overwhelm some of the European bloc’s biggest economies. “At the end of the day, I still believe euro bonds will be the solution – so Europe will have one system to help solve refinancing issues.”
For more information about mckafka Development Group, call 305-917-7673 or visit mckafka.com.