Moriah Real Estate Company (MREC) was founded in 2008 on three foundational principles. First, real estate is a proven investment class with the capacity to build wealth through attractive risk-adjusted returns. Second, partnering with expert Joint Venture (“JV”) partners who have specialized knowledge and experience drives value. Finally, our investors are valued partners, so we prioritize and structure for cohesive alignment of interests. After $1.7 billion in acquisitions and over $220 million in profit returned to our investment partners, these principles demonstrably represent our past and continue to guide our future. 

We hold a deep conviction that real estate is an exceptional opportunity for both wealth creation and wealth preservation. Though not immune to cyclicality—history and our own experience demonstrate that quality, well-managed real estate consistently appreciates in value over time. In any given phase, different real estate asset classes may represent greater or lesser opportunities for cash flow and value growth. We have intentionally retained the flexibility to acquire, develop or redevelop multiple product types. We buy and develop at a good value, underwrite to limit the downside, structure to keep the upside uncapped, manage our properties for profitability, and sell whenever the value opportunity presents itself. We maintain an opportunistic posture that focuses on our investors and their outcome. 

Additionally, we strategically leverage the energy and expertise of regional or sector specific JV partners to maximize the range of our investment opportunities. We partner with quality JV partners with boots on the ground and the expertise necessary to give us access to a broad spectrum of asset classes, geography, and otherwise hidden opportunities. We love to wade into, and find opportunity in messy and complicated deals. Because of the experience of our team and the quality, competence, and energy of our JV partners, we have been able to uncover value in a broad spectrum of projects, including difficult and complex transactions.

Finally, and most importantly, we appreciate our investors as value-adding partners, not paying customers. Our investor partners have created value by allowing us to pursue opportunities we couldn’t pursue exclusively on our own. We structure our deals with a strong view towards investor outcomes (we win when investors win) and alignment of interest. We believe there are precious few revealing indicators more transparent than a checkbook. Our internal family capital has historically been the largest investor on our platform. If we don’t believe in it enough to invest our own money, we won’t do the deal. 

These three foundational principles have determined our path and will continue to guide us moving forward.