Mountain Real Estate Group Moves Into New York Office

Looking to expand its business into the Northeastern market, Mountain Real Estate Group has opened a new office in New York.

The Charlotte, N.C.-based firm that is a buyer of distressed bank assets and a private capital source for real estate developers, builders and operators, decided to move into an office building in White Plains, N.Y., to increase its national exposure.

The New York office would be the firm's eighth regional office throughout the country, with others located in Minneapolis, Atlanta, Los Angeles, Richmond, Va., Newport Beach, Calif., and Washington.

Rodney Montag, who has more than 25 years of commercial real estate development, homebuilding and investment market experience, will lead the operations in the New York office.

Montag recently joined the firm's equity investment arm Mountain Real Estate Capital. Prior to this, he held senior positions at Cantor Fitzgerald and WCI Communities where he worked in real estate development, homebuilding and investment banking.

“Rodney's reputation is well known in our industry and he brings a wealth of high-level experience to help push our brand well into the Eastern Seaboard,” said Peter Fioretti, Mountain's chief executive officer. “A New York presence is a major advancement in Mountain's overall business plan and continued national expansion. Rodney's outstanding development and homebuilding track record and his banking and development background will prove to be a valuable tool for our work throughout the region while also adding to the firm's national platform.”

Since 2010, MREC has purchased over $900 million of bank notes and assets in 10 states, encompassing over 9,000 acres and 12,000 lots/homes.