Richard Davis and Eric Ross, the Co-Founders and Co-Managing Partners of Gary Lee Development, have a combined 40+ years of real estate finance, investment and development experience.
Richard Davis – Co-Managing Partner and COO
Prior to co-founding Gary Lee Development with Mr. Ross in 2003, Rick Davis began the development of Miraposa Whippoorwill, in Naples, Florida, a 200-unit, $24 million town home/condominium project in partnership with Zuckerman Homes of South Florida
Rick’s prior development experience includes:
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Esplanade. a $39 million, 60 unit luxury mid-rise in downtown West Palm Beach (for Royal Palms Development
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Alexan at Coral Cables. Site acquisition and development of a $20 million, 200-unit high rise apartment building in Miami (for Trammell Crow Residential).
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High Rise Portfolio. Redevelopment and disposition of a 4,400 unit, $400 million hi-rise portfolio owned by affiliates Goldman Sachs and George Soros Realty.
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Condo Conversion. Originating condo conversion deals for Madison Development Group, an affiliate of Hunt Realty.
Prior to moving to the principal side of the development business, Rick was a Senior Real Estate Investment Officer with Northwestern Mutual Life, and a Vice President with The Travelers Corporation’s real estate development and real estate investment subsidiaries. Rick began his career as a commercial real estate market and credit analyst with the United States Trust Company. Rick received a B.S. in Business, and an MBA with concentrations in Finance and Accounting, from Babson College.
Eric Ross – Co-Managing Partner and CFO
Prior to co-founding Gary Lee Development with Mr. Davis in 2003, Eric, along with Ralph Mitchell and William Heflin formed a joint venture which continues to develop high-end, infill single family homes in the metro Washington, DC market. Previously, Eric was a Managing Director of Real Estate Capital Markets for Andersen Corporate Finance, the corporate finance and investment banking arm of Arthur Andersen, where he raised over $400 million of development equity for his real estate clients and has advised his clients in connection with $500+ million of M&A activity.
Prior to joining Andersen in 1997, Eric served as Senior Vice President-Director of Asset Management for NHP Incorporated and Senior Vice President of NHP Members, Inc., one of the country’s largest owners of multi-family housing. At NHP, Eric was responsible for a $3 billion multi-family portfolio and served on the management and investment committees of NHP prior to its acquisition by AIMCO in 1997.
Eric began his real estate career with Winthrop Financial Associates where he was involved with the restructuring and/or refinancing of over $750 million of sub-performing, institutional grade assets. Eric earned his B.S. in Business Administration from Boston University.
Principals