6 Pro Athletes Who Are Commercial Real Estate Investors
Athletes thrive on competitive energy so it makes sense that some would turn to the topsy-turvy world of commercial real estate after hanging up their jerseys. While some athletes return to their old neighborhoods to give something back to where they came from, others are building billion-dollar high-rises. Here are five athletes who found second careers as real estate investors.
A-Rod is an all-arounder when it comes to his general contractor construction company, Newport Property Construction. Founded in 2008, the firm has taken on multifamily projects, offices, mixed-use and even a project at the University of South Florida. The company recently started two projects for Starwood Capital Group: a renovation of high-end luxury apartments at Miami Beach Roney Palace, and hundreds of units at Palm Trace Landings in Davie, FL. Though the company is based in Florida, Newport Property Construction takes on jobs all over the country.
Andre Agassi and Steffi Graf
The two tennis greats created Agassi Graf Development in the mid-2000s, focusing on luxury hotels. The couple teamed up with Exclusive Resorts to include Agassi-branded fitness centres, and the duo’s empire has expanded to include a ticketing and travel enterprise. Agassi has also ventured into building charter schools with the Turner-Agassi Charter Schools Fund II.
Basketball Hall of Famer David Robinson played center for the San Antonio Spurs for his entire 20-year career. In 2007, he launched Admiral Realty Capital, a private equity fund that invests in real estate, which is valued at more than $100M. Admiral Realty’s portfolio includes hotels, office buildings and multifamily properties.
Before he launched The O’Neal Group in 2006, Shaq had amassed a $50M real estate portfolio. One of the company’s first projects was a high-profile $1B mixed-use development, The Miami Met. The project featured three towers housing 1,143 residential units, a new hotel and retail space. Shaq isn’t one to be pinned down, though. His portfolio includes shopping mall staple Auntie Anne’s pretzels, car washes, gyms and nightclubs.
Steve Maneri, an NFL tight end, spent time with the Texans, Patriots, Chiefs, Bears, Buccaneers and the NY Jets. Unlike some of his cohort he didn’t become an investor. Instead, he’s a tenant and landlord representative for Colliers.
Former pro football player James Malone gave up sports and a cushy law career to dedicate himself full-time to commercial real estate. Now Brookfield Properties VP of Leasing, James is responsible for the marketing and leasing of 7 Class-A office buildings in downtown Los Angeles.