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Seligman & Associates:Founded in 1954, Seligman and Associates, Inc. continues to be a leader in development, acquisition, and management of multiple commercial and residential properties throughout the western United States. The predecessor company was started as Stern and Seligman in 1947. Its primary business was the construction of garages. This soon led to the development of single-family homes and apartments in Detroit and Las Vegas. Simultaneously Mid-States Mortgage, Co. was founded to provide HUD financing for first home buyers. In 1971, the company went public as Seligman & Associates. In 1976 Irving's son Scott Seligman became Group Vice-President of Seligman & Associates, Inc. responsible for single-family building operations and management of multi-family properties located in the Metropolitan Detroit area. From 1977 to 1983 Scott Seligman was President, Director and Chief Operating Officer of Seligman & Associates, Inc., a position he held in addition to becoming President of Mid-States Mortgage Corporation in 1983. Between the years of 1959 and 1985, Seligman & Associates developed 10,000 multi-family units. In 1984, Seligman chartered the Sterling Savings and Loan Association which focused on mortgage lending and servicing. In 1987, the Seligman family took Seligman & Associates private. In 1990, expansion led to the development of the commercial lending division, including commercial equipment leasing and financing and commercial real estate lending. In 1993, the bank became Sterling Bank and Trust, FSB, with the addition of the Trust division. In 1994, further diversification led to the development of the consumer lending area which focused on indirect auto and marine lending. Today, Sterling Bank and Trust has a $92 million net worth which has been internally generated from the initial $3 million capitalization. In the late 1990's, Seligman began selling its Michigan properties and reinvesting the capital in the development and purchase of office properties in Orange County, California. Along with the Southern California office portfolio, Seligman owns office buildings in Northern California and Las Vegas. The office portfolio consists of Class B properties with tremendous upside in rent growth and superior management & maintenance. From 1999 to 2001 Seligman acquired 16 multi-family properties in positive growth areas within Greater Los Angeles, California. All of the properties were constructed in the late 1920's and have been renovated to the highest of standards and no expenses were spared. In 2003, four (4) of the properties were sold. The properties are historical buildings converted into classic apartment communities and consistently outperform the competition. In addition to the Los Angeles Apartment Portfolio, Seligman owns multi-family properties in Michigan. Seligman has also recently invested in retail properties in California, Hawaii, Michigan, and Nevada. Seligman Western was established as a local California presence to further the tradition of a "hands on management" philosophy. Seligman Western Enterprises Limited (SWEL) manages all California commercial and residential properties while Scott Management Company (SMC) manages Michigan and Arizona residential properties. Through Pioneer Realty of Michigan, the Seligman portfolio seeks properties which fit into their core holdings and which can benefit from their management expertise. The company incorporates a staff of experienced real estate professionals who continue to position their tenants, employees, and properties toward a bright future.
Seligman Western Enterprises Limited is indeed headed by a Seligman.
Scott Seligman was until recently one of America's youngest bank CEO's as the
top executive of a billion dollar bank in the Midwest. Married and based in San
Francisco, he now focuses his strategic acumen on his first love real estate
and investments.
Seligman & Associates along with its affiliates are continuously looking for value opportunities including:
Ventures are primarily focused in Michigan, California, Nevada, Texas, Arizona, and Hawaii. In addition, Seligman & Associates has established numerous Joint Venture Opportunities.
S.W.E.L. - Seligman Western Enterprises Limited (Northern California)
Seligman & Associates Inc.
S.W.E.L. - Seligman Western Enterprises Limited (Southern California)
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