20A — August 2023 — Thriving Under 40 — M id A tlantic Real Estate Journal
www.marej.com
T hriving U nder 40 Orry Michael, Faropoint
“Don’t be afraid to step out of your comfort zone and take on challenges that push your limits”
hat is your most notable project, deal, or transac- tion? Undoubtedly, the 2021 acquisition of a 10-building portfolio located through- out Northern New Jersey from Kushner Companies. We acquired that portfolio for $132.5 million as part of the company’s continued national expansion, which not only marked Faropoint’s entry into the Northern New Jersey industrial market but still holds strong as one of the top transactions at the company. The acquisition W
we established early on. For me, it was spearheading and building our pipeline and reputation across Northern New Jersey from the ground up. Backed by an incredible team we were able to scale from having no presence in the market to deploying +/- $200 million, spanning +/- 1.5 million s/f in a two- year period. What unique qualities and or personality do you feel makes you most suc- cessful in your profession? I’m extremely hungry. I try to approach every task with the same level of importance and enjoy doing it along the way. There’s a learning lesson in every situation we find our - selves in at work, so absorbing that knowledge and applying it to the next has been key. On top of this, I love the social element that is so integral to our work. You never know who you’re going to meet, the valuable insights you’ll gain, and most importantly the relationships and friendships you establish along the way. What challenges and or obstacles do you feel you needed to overcome to be- come as successful as you are today? Naturally, there was a bit of a learning curve when I first joined Faropoint as I was coming from an in- vestment sales background and there’s no question that the early days required some sleepless nights to catch up. However, with the support of my team and guidance from invaluable leaders at Faropoint, I was able to push through this gap and flourish - I wouldn’t have wanted it any other way. What was the most de- fining moment for you? Certainly, my transition from investment sales to private equity. You’re learning a whole new side of the business that requires an entirely dif- ferent skillset but is rooted in some of the same foundational basics required of someone in this industry. What outside activities do you enjoy during you free time? I recently got engaged and am having fun with my limited involvement in planning our wedding with family and friends. Outside of this, I can be found spending time with our two dogs Jury continued on page 24A
have been so many important figures in my life. But my time as a former athlete and competition at the Division 1 level instilled a competitive mindset in me and taught me how to be a team player, battle through adversity, always fin - ish what you start, and be goal oriented. What were some of your early goals and did any- thing happen to change them? Looking back at what we’ve already been able to accomplish at Faropoint, there is no question that we’ve superseded the goals
Orry Michael Director of Acquisitions Years with Faropoint/firm: 2+ Years in field: 2+ Years in real estate industry: 8 Real estate organizations/ affiliations: NAIOP NJ, IOREBA
was an incredible showcase of overall teamwork - being able to close a $132.5 million transaction across 10 proper- ties in 39 days.
Who or what has been the strongest influence in your career? It’s hard to narrow this down to just one person or one event as there
Inspire Through Innovation
Local Presence. National Footprint. Experienced Partner. Institutional Execution.
We are a vertically-integrated, tech-enabled, data-driven real estate investment manager focused on last-mile industrial properties in high population growth markets. We leverage data and local relationships to acquire assets across various investment strategies.
Faropoint at a Glance
100+ employees
450+ assets acquired since inception
$2 billion gross asset value
10 of fi ces
20+ million square feet of assets (owned and managed)
Contact Vadim Greenberg, Head of Acquisitions, at vadim@faropoint.com or visit our website www.faropoint.com To Learn More
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