We are an opportunistic real estate investment firm with deep experience executing complex transactions and unlocking embedded value. Operating in the United States and Mexico with investments in over 10,000 properties.
CSC specializes in identifying markets where young renters are priced out of the newer product and are forced to live in poor conditions. We identify assets where we can create affordability for these renters with cutting edge design and quality.
Providing Investment Capital
CSC provides investment capital for coliving projects in the United States with the intent of capturing the premium in returns generated through density and consolidating a portfolio to create an asset class in a nascent sector, betting on the convergence of coliving to multifamily capitalization rates.
Sal Smeke is co-founder of CSC Coliving, LLC ("CSC"). For 17 years as a real estate developer, Sal has acquired expertise in different forms of real estate, investing in hospitality, residential, commercial, industrial, student housing and retail. Some of Sal's most remarkable investments were the purchase of the Cipriani property from SL Green (NYSE: SLG) at 110 E. 42nd Street, rapidly growing leases and sold at a considerable profit in less than a year. Acquired Hudson 36, repositioned, increased occupancy, sold air rights to adjacent parcel and reached a 3x multiple in 36 months. Acquired Hell's Kitchen portfolio and completed a 4.3x by repositioning within 3 years. Riff Downtown, shifted to dormitories and sold to Kings University, produced a 4.5x in 4 years. Acquired the iconic Chelsea Star Hotel, increased cashflow, re-negotiated retail rents, sold the upper floors to achieve a 3.4x within 3 years, and the list goes on. At CSC, Sal's primary role is to identify the opportunities, run different business plan scenarios, implement the vision and finally partner with the best in class developer to realize the business plan within months. Sal earned an Executive MBA from London Business School and Columbia Business School (“CBS”), where he is a Paul Milstein RE Association board member.
Alberto Smeke is focused on multifamily investing in Mexico and the United States. In 2016 Alberto led Grupo Alsavision in its Joint Venture with CIM Investments to acquire the Nomad Living portfolio in Mexico City and Monterrey. Since acquisition he focused on generating additional value such as leasing the commercial space, creating the first live, co-work and play rentals. In 2018 Alberto led another partnership with Artha Capital to develop the a mixed use project in Paseo de La Reforma which will encompass apartments for sale, rent, hotels, office and retail expected to open in 2021. Alberto has a Bachelors Degree from The Wharton School with a concentration in Real Estate.