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.