River of Opportunity

Jay Massirman is leveraging three decades of real estate experience by
entering the property insurance and storage facility fields. 

The moves are the latest big steps for Massirman, who eight years ago went from being a star broker at CBRE to becoming president and CEO of Rivergate Companies. In recent years, he has also been involved in Rivergate | KW, a joint venture to manage apartment complexes and commercial properties.

Massirman, who developed a Dadeland storage facility in 2005, noticed in 2012 that there was a lack of new public storage projects in the Miami area by the big four REITs.

He met Stephen Garchik, who built 35 storage facilities in the Washington, D.C. area and started looking for sites. He recently said they have five sites closed, three under contract and two more close to contract. He expects to have about seven under construction by the end of the year.

The initial plans are in Miami-Dade and Broward counties, but he’s also looking elsewhere in Florida.

Usage of public storage facilities is sparked by the four D’s – death, divorce, disaster and dislocation, Massirman says. Americans use storage more than other countries. There are also niches in holding records for businesses, storing wine and storing art. 

Cube Smart will be the third party manager for the facilities, Massirman says. He likes its management technology and its analytics to look for sites, although he also does his own homework on that.

On the property insurance business, Massirman is forming an insurance collective. One of the partners is Lockton, which calls itself the world’s largest privately owned, independent insurance brokerage firm. 

Massirman plans to insure existing clients and some new ones as well.

“Think of a guy who has a Publix shopping center insurance for $100,000 a year. We can do give it for $75,000,” he says.

Massirman said he made the leap to investor/developer eight years ago because he was still young enough to have the energy to do so and thought market conditions were about to change.

“I knew there was going to be a big paradigm shift in the market. I didn’t know the extent,” he said. He had to redo everything when the financial markets collapsed.

He did some fractured condos and single-family developments and learned the business of being a principal – dealing with lenders, raising money.

 �You get up at six, work until midnight – when you are exhausted – get up and do it again,” he says.

Experience has taught him it takes three to five years after starting a new business before you get traction and 10 years to be really known and established.

Eight years later, he’s nearing his goal. ?



Massirman’s joint venture gets new president

Former Greystar executive Marcie Williams has joined Rivergate | KW Management as president.
As Senior Director of Real Estate at Greystar, Williams oversaw 18,000 multi-family units in the Carolinas. She was previously Regional Manager of Real Estate Investments at Camden Property Trust.

Williams not only knows the management business, but investment and development relating to multifamily, said Jay Massirman, who is Managing Partner of Rivergate | KW Management. 


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Drew Limsky

Drew Limsky



Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.