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Sack Capital Partners Launches with Takeover of Sack Properties Investment & Management Platform

Sack Capital Partners, Sack Properties, San Francisco, Seattle, Los Angeles, Orange County, San Diego

SAN FRANCISCO (April 18, 2023) – Founded in 1958, San Francisco-based real estate firm  Sack Properties, led by Jeff Smith, current President, and Chief Investment Officer David  Feinberg, will launch its next growth chapter under a new flag, Sack Capital Partners (“SCP”) wholly owned by Jeff Smith and David Feinberg. 

A vertically integrated, privately held real estate company that focuses on the  acquisition, improvement, management, and disposition of a broad range of multifamily  properties in the Western U.S., SCP specializes in Class B multifamily properties in prime infill  locations that could benefit from capital investment and improved management. With  approximately $1 billion in assets under management, the firm’s current portfolio includes  approximately 3,000 apartment units in primary Western U.S. submarkets. 

“Jeff and David have proven to be strategic partners in growing the company over the  many years they have been with Sack Properties, and I’m thrilled to pass the torch to them to elevate the firm to new heights as Sack Capital Partners,” said Kirby Sack, the firm’s CEO, and  owner since 2007. “The firm is in great hands under Jeff and David’s leadership and will serve  our many investor partners well. Smith and Feinberg each have over 25 years of multifamily  experience and have invested more than $2.5 billion in multifamily transactions totaling more  than 10,000 units.” 

Sack Properties had historically funded its portfolio of value-add Western U.S.  properties with discretionary high-net-worth investors before transitioning to institutional funds in 2013. Their vertical integration and sharpshooter approach to acquisitions has led  to outperformance relative to their peers. SCP plans to continue its growth in primary  Western U.S. markets with a goal of doubling its assets under management over the next 

five years. Founder Paul Sack ran the firm for over 30 years, handing over the leadership  reins to his daughter Kirby in 1989. The newly rebranded firm currently has 65 employees,  including 16 in the corporate office in San Francisco’s Financial District. 

Smith joined the firm, then known as Sack Properties in 2001. He became chief  financial officer in 2007 and was named president in 2017. With more than 25 years of  experience in the commercial real estate industry, Feinberg joined the firm in 2017 and  became its Chief Investment Officer in 2020. Kirby Sack will continue to serve as a senior  advisor to SCP. 

“We are honored to have the opportunity to assume responsibility for the firm, which  has been a great success for hundreds of investors under Paul and Kirby’s leadership over  the last 65 years,” said Smith. “David and I are thrilled to take the reins as we embark on a  bright future as Sack Capital Partners.” 

About Sack Capital Partners 

Founded in 1958, Sack Capital Partners (“SCP”) is a vertically integrated, privately held real  estate that focuses on the acquisition, improvement, management, and disposition of a broad  range of multifamily properties in the Western U.S. Based in San Francisco, the firm specializes  in Class B multifamily properties in prime infill locations that could benefit from capital  investment and improved management. With approximately $1 billion in assets under  management, SCP’s current portfolio includes approximately 3,000 apartment units in 15 cities  in California, Washington, and Colorado. The firm is committed to sustainable building practices  such as water conservation, energy efficiency, and green building upgrades.