Principal Investing
MJ Captial Partners brings a deeply analytical, seasoned and yet entrepreneurial approach to the acquisition, renovation and repositioning, and financial management of its investments. Our investment focus is predicated upon delivering risk adjusted returns and by sustaining a culture committed to the principals of responsibility, integrity, and alignment of interests.
GENERAL INVESTMENT GUIDELINES
| Product types | Class B and C properties |
| Pricing | Purchase price plus renovation/redevelopment capital expenditure of less than 70% of replacement cost and attractive pricing relative to market. A repositioned yield will be targeted to be 300+ bps higher than current debt rates. |
| Gross Investment | Return target of a high-teen levered Internal Rate of Return |
| Transaction Size | $2 million to $15 million purchase price. Primary focus on mid-market investment size will reduce competition with institutional players and increase the number of under-managed/distressed properties for consideration. |
| Leverage | Up to 70% of all-in investment cost. Utilize private debt sources to initially fund acquisitions to reduce escrow closing time period |
| Hold Period | +3 years |
| Market Focus | West Coast with particular emphasis on secondary and tertiary communities within a 2-hour drive-time from the Bay Area |
Our Team
Jeffrey S. Leon
Before co-founding MJ Capital Partners, Mr. Leon is the managing member of San Francisco Bay Area-based HLA Ventures overseeing the investment origination and execution of value-add and opportunistic transactions in all product types.
Prior to forming HLA, Mr. Leon co-founded PB&J Acquisitions in 2010 with Pat Flanagan, Bill Sumski, and David Rawson. PB&J is an investment management firm focused on the acquisition of value-added commercial real estate in major markets located in Northern California. Mr. Leon still maintains a significant ownership interest in the firm and its assets. Over a 3-year period, Mr. Leon spearheaded the acquisition and fundraising for more than 1.3 Million square feet of office, retail and industrial properties. Investors have included Investcorp, Urdang Capital Management, Washington Capital Management, and high net worth families and individuals.
In 1998, Mr. Leon joined Rawson, Blum & Company (www.rawsonblumleon.com) and became a named partner in 2000. Mr. Leon was primarily responsible for all company acquisition activities including asset identification, negotiations and due diligence process management. While at RBL, Mr. Leon placed approximately $150 Million in equity for the purchase of more than 3 Million square feet of commercial property located in California, the Pacific Northwest, and the Southeast. Mr. Leon was instrumental in the formation of joint venture relationships with many of the nation’s most prestigious financial institutions including Weingarten Realty Investors (NYSE: WRI), Regency Centers (NYSE:REG), CalPERS, Lubert Adler, and Perlmark Realty Corporation (formerly Transwestern Investment Corporation).
Mr. Leon earned his BA degree with honors from Northwestern University in 1982. He was also a member of the honorary fraternity, Alpha Lambda Delta. Mr. Leon earned his Juris Doctor degree from University of the Pacific, McGeorge School of Law in 1985. He is an Alumni Council member and former Trustee of Town School for Boys in San Francisco, an Alumni Admission Council representative for Northwestern University, a member of the Planning Committee for the International Council of Shopping Centers, and a board member for the charity, Pathways for Kids. Mr. Leon lives with his 4 children in Ross, CA.
Call: 415.684.9350
Michael Young
Aside from his role as co-founder of MJ Ventures, Mr. Young is the owner of Princeton Pacific Properties- a full service Real Estate Brokerage Company originally formed in 1994. Mr. Young personally represents in a brokerage capacity approximately 100 clients per year and has been involved in the brokering of over 3,500 properties since 1990.
In addition, Mr. Young is an active Real Estate Investor and owner specializing in manufactured housing communities and multiple family dwellings currently controlling 600 units. Mr. Young was among the first developers in the state of California to bring “stick built” prefab homes in a mobile home park setting in 1984.
Prior to forming Princeton Pacific Properties Mr. Young’s diverse real estate career started after graduating high school being hired by one of the nation’s most well-respected real estate investment services companies: Marcus and Millichap Commercial brokerage. Following the experience of working over a large territory in commercial investment sales Mr. Young decided to focus on residential brokerage and investing and developing.
Call: 415.215.3925
Michelle McCarthy
ASSET MANAGER
Michelle joined MJ Capital Partners as an Asset Management Assistant in 2016. Her role and responsibilities include supporting the asset management team with a focus on processing all leases and construction projects throughout the portfolio.
Prior to joining MJ Capital Partners, Michelle worked for both Berkshire Hathaway and Keegan and Coppin as property manager and broker.
Michelle received a B.A. from the University of San Francisco.
Call: 415.503.4019
Shiela Gonzales
EXECUTIVE ASSISTANT / TRANSACTION COORDINATOR
Sheila joined MJ Capital Partners as Transaction Coordinator in 2017. Her responsibilities include overseeing the front office and ensuring the smooth operation of the firm’s headquarters. She also provides IT support, working closely with the partners to ensure efficient system operations.
Prior to joining MJ Capital Partners, Sheila served as an Administrative Assistant and Broker for RE/MAX Gold.
Call: 415.503.4017
Debbie Zetzer
PROPERTY MANAGER
Debbie joined MJ Capital Partners in 2017. Her responsibilities include managing the day- to- day operation of the portfolio and liaison between ownership and residents / tenants.
Prior to joining MJ Capital Partners, she worked as an on-site manager for Youngstown Mobile Home Park from 2009 – 2017. Previous to her employment at Youngstown, Debbie worked for Jefferson Elementary School District as a Physical Education and Special Education Aide in conjunction with Daly City Parks and Recreation Department as a Senior Recreation Leader and Homework Center Supervisor.
Call: 707.763.9885
