BLEZNAK
REAL ESTATE INVESTMENT GROUP
Get notified when our next deal becomes available.

Available Deals

Woodridge Apartments

  • 18242 Middlebelt Rd Livonia MI 48152 US
  • Offering type Equity
  • Annual Return
  • Term
Funded 100%
WHO WE ARE

MITCHELL
BLEZNAK

Mitchell Bleznak is the Chairman of the Board of the Bleznak Real Estate Investment Group and oversees daily operations. Mitchell has been involved in real estate management and investment for over 30 years and has raised over $170 million of private equity for investment in multifamily and retail properties. Mitchell has been retained as a consultant on real estate matters by banking institutions, legal and accounting firms as well as private owners.

ADAM
BLEZNAK

Adam Bleznak is the Chief Operating Officer of Woodbury Management and is directly responsible for the operations and performance of the company’s multifamily communities. Adam has gained experience by leading renovation projects such as the clubhouse renovation at the company’s cornerstone property, Woodbury Gardens Apartments in Ann Arbor, MI. Adam also assists with the acquisition and development of new projects.

Email: ableznak@bleznak.com

DAVID
BLEZNAK

David Bleznak is the Director of Business Development for the Bleznak Group and is responsible for repositioning newly acquired assets. Following graduation from the Ross School of Business, David gained experience in the commercial real estate field from his tenure working at Tucker Development in Chicago. His entrepreneurial skills have enabled him to participate as a leader in the acquisition, development, and management of commercial properties.

Email: dbleznak@bleznak.com

JONATHAN
PODOLSKY

Jonathan Podolsky is the Chief Financial Officer for both Woodbury Management and Bleznak Real Estate Investment Group. Jon is responsible for overseeing all accounting operations, growth and infrastructure development of the organization and is actively involved in decisions made by the Bleznak Group. Jon has successfully led building and renovation projects including senior housing developments, multifamily communities and commercial properties.

Email: jpodolsky@bleznak.com

STEPHEN
PYETT

Stephen Pyett is the Director of Acquisitions for the Bleznak Group. Steve has over 20 years of experience in the commercial real estate mortgage banking industry. He is responsible for reviewing and executing acquisition opportunities as well as handling financing transactions. Steve has also successfully overseen the procurement and management of several commercial properties.

Email: spyett@bleznak.com

SOME WORDS
ABOUT US

The Bleznak Group is a full service real estate development and management company headquartered in Birmingham, Michigan. For over 50 years, the Bleznak Group has been developing, acquiring and managing real estate across the country. With a concentration on Multifamily, the group also specializes as an owner-operator of Seniors Housing, Retail, Flex Office and Industrial assets. Woodbury Management Inc. is Bleznak Group's wholly owned property management company and currently manages $170,000,000 real estate portfolio comprising Multifamily, Retail, Flex Office and Industrial property. The Bleznak Group developed a portfolio of Seniors Housing properties, which it sold to an institutional investor in 2005. The group has since invested its capital into core holding and distressed assets. Opportunities have been found through purchasing defaulted or non-performing notes at auction, lender REO/foreclosed properties and reorganizing fractured condo projects. With diligent attention to detail, the Bleznak Group has consistently generated high relative returns from its real estate investments.

HOW IT WORKS
Mitchell Bleznak
CASE STUDIES
SELECT A PROJECT TO SEE MORE DETAILS

Newport Woods Apartments

In April 2010, Bleznak Group bid for at auction and won a $2.2 million non-performing HUD loan on Newport Woods Apartments. Price paid was $720,000 cash with a 10 day closing period. Bleznak Group obtained title to Newport Woods via the foreclosure process and overcame the owners attempt to reorganize under Chapter 11 bankruptcy. When Bleznak Group assumed management of Newport Woods, the property was 48% occupied, and half of the units were in untenable condition.

Bleznak Group invested over $500,000 in new HVAC units, clubhouse renovations, new roofs and more. All down units were renovated back to rentable condition. Woodbury Management brought occupancy at Newport Woods back above 95%. In December of 2011, Bleznak Group obtained a new first mortgage on Newport Woods for $2,400,000, effectively returning all original capital invested plus an amount equal to the original investment. Newport Woods was sold in December 2012 for $3,500,000.

Asset Class: Asset Class: Number of Units: 144 Location: Newport, Michigan

Eagle Pond Apartments

On October 1, 2011, Bleznak Group purchased Eagle Pond Apartments for $7,750,000 on an all cash basis. The purchase allowed for a 1031 tax free exchange for most of the proceeds of the sale of Woodland Mews (above). At the time of purchase, due diligence indicated that Eagle Pond was generating Net Operating Income after reserves of approximately $650,000, indicating a purchase cap rate of approximately 8.4%. Since purchasing the property, Woodbury Management has completed construction of 9 additional apartments at Eagle Pond, has increased rents and net collections and implemented operational efficiencies at the property. On March 19, 2012, Bleznak Group closed a $5,200,000 loan on Eagle Pond with AVIVA Investors with a 15 year term at a fixed interest rate of 4.50% on a 25 year amortization schedule.

2012 actual NOI exceeded $900,000 and resulted in a leveraged return of over 19% for 2012.

Asset Class: Multifamily Number of Units: 210 Units Location: Walled Lake, Michigan

Woodbury Commerce Park

Woodbury Commerce Park is the Bleznak Groups' most recent commercial turnaround project. Purchased in December of 2014, this property consists of three single story office buildings located in Novi, Michigan. The Bleznak Group purchased Woodbury Commerce Park at auction from the lender that had previously foreclosed on the property. The park was 33% occupied upon acquisition, leaving significant upside in renovating and releasing vacant space. The Bleznak Group has received a $2 million loan commitment from a local bank to fund property renovations and tenant improvements. The objective is to achieve 90% occupancy at Woodbury Commerce Park in 18-24 months.

Asset Class: Industrial/Office Gross Leasable Area: 93,000 sf Location: Novi, Michigan
CONTACT US
260 E. Brown Street, Suite 200,
Birmingham, MI 48009
Phone: 248-645-1111
Fax: 248-645-1101
E-Mail: dbleznak@bleznak.com

Your message was successfully sent!