With total assets exceeding $300 million and equity of approximately $60 million, Bleznak's real estate portfolio includes multifamily, senior housing and retail properties in Michigan, Missouri and Colorado.
Bleznak's first income property investment was the 80-unit Buckingham Manor Apartments in Birmingham. Purchased in 1982 for just under $2.5 million, the property was an attractive investment due to its location in a growing area and strong unit mix.
Bleznak used his own property management firm to handle minor renovations, including modernizing the kitchens, improving the overall maintenance of the property and landscape enhancements. The property was ultimately sold in 1998 for $5.6 million to a local condominium converter.
"Mitchell Bleznak has been a highly successful investor, building considerable equity in his portfolio," says Steven Chaben, first vice president and regional manager of the Marcus & Millichap Detroit office. "With more than two decades of experience, Bleznak has demonstrated the ability to negotiate the various real estate cycles, identify opportunities and create value."
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