|Quintin E. Primo III, CEO of Capri Capital Partners LLC|
The real estate industry is a tough business, especially since the housing bubble burst in 2008-2010. But these eight successful African Americans are making billions in real estate. Find out who is on the list.
#1 - The Peebles Corporation: Owned by Donahue Peebles who is Chairman and CEO, this real estate company is the most successful African American real estate development company in the nation. It's development portfolio reaches $4 billion, and the company maintains offices in Miami, Las Vegas and D.C.
#2 - Capri Capital Partners: This company was launched by Quintin Primo III in 1992 and now has more than $2.7 billion in real-estate assets.
#3 - H.J. Russell & Company: This construction and real estate development corporation was started by Herman J. Russell in 1953 and has a current net worth of $200 million.
#4 - RLJ Development, LLC: This real estate company was founded by Thomas J. Baltimore, Jr. in December 2000 in Bethesda, Maryland, and today is America’s largest African-American hotel investment company.
#5 - MacFarlane Partners: This leading black-owned real estate investment management company has $2.2 billion in investor equity and $6 billion in properties completed and under management.
#6 - Omni New York, LLC: This real estate group is owned by former Major League baseball MVP, Mo Vaugn. The company focuses on rehabilitating dilapidated affordable apartment buildings within the New York metropolitan area. They are currently rehabilitating 3,462 units of affordable housing in New York state.
#7 - Emmitt Smith Enterprise: This real estate development firm was started in 2005 by NFL Hall of Fame running back Emmitt Smith. He is also co-founder of ESmith Legacy, Inc. in Dallas, a premier real estate development and asset management firm. Both companies are 100 percent minority owned.
#8 - Integrated Capital LLC: This real estate company was founded by Kenneth Fearn in 2004 and now has assets exceeding $285 million.