Principal

Founder and President, REF ADVISORY INC (1996-Present)

As an independent advisor, REF has been involved in over $4 BILLION in transactions highlighted by the following:

• From 1997-2024, REF advised Rite Aid Corporation in completing the sale of 7 distribution centers and in excess of 600 retail stores aggregating in excess of $2 BILLION.
• Since 2008, has completed numerous sale-leaseback transactions for Patient First Corporation (“PFC”), an urgent and primary care medical provider. In addition, REF has assisted PFC in the successful negotiation/renegotiation of six ground leases for existing or new locations.
• In 2004-2009, completed sale-leaseback transactions for Performance Food Group with three investors aggregating approximately $60,000,000.
• In 2001, completed a 10-store $45,000,000 transaction for The Sports Authority, Inc., which was complicated by the fact that the company was only partially through a turnaround plan being executed by a relatively new management team.
• Completed two transactions for. and Galyan’s Trading Company, Inc and PCS, Inc. during 1999 and 2000, respectively, which involved sale-leaseback transactions required to close simultaneously with the sale of the company or leveraged buyout of a majority interest.

Director of Treasury, Circuit City Stores, Inc. (1992 – 1996)

Senior Vice President and CFO, CC&F Asset Management Company, Inc. (1991-1992)

Vice President, Spaulding and Slye (1985 – 1990)

Michael grew up in New England, having graduated from Classical High School in Providence, Rhode Island in 1974 and Northeastern University in 1979 with a Bachelor of Science degree in business administration, and relocated to Virginia in 1992. He is a former member of the Board of Directors and Vice Chairman of Interfaith Housing Corporation, a not-for-profit organization, which built single family homes for low-income families in the greater Richmond, Virginia area, and the budget and finance committee of the Weinstein JCC of Richmond. He is a longtime member of the International Council of Shopping Centers. He also holds licenses as a certified public accountant and as a real estate broker in 4 states.

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