ABOUT US
Our Pursuit
We acquire. We improve. We divest. Our investors profit.
Crown Bay Group is a multifamily operator that buys the right property at the right price in pursuit of above-average returns for our investing partners. Our pipeline is filled by our extensive broker network that presents off-market opportunities throughout metro Atlanta and the Southeast. But not every multifamily asset makes the grade.
We do our homework running the numbers again and again. We analyze income and expenses, identify opportunities to improve profit margins, evaluate occupancy and collections and, of course, examine the structure and infrastructure of the property. The goal – increase value by deploying proven operational strategies and crafting a safe, clean and welcoming environment. If that is possible, a deal is possible.
We are extremely selective. We are extremely cautious. And we are extremely adept at closing an opportunistic deal. We are specialists in workforce housing.
Succeed with us.
Investment Criteria
Property Type: multifamily (Low Rise/Garden-style)
Class: workforce housing (prefer Class B/C assets)
Asset Profile: value-add and core-plus
Geographic Location: metro Atlanta and select high-growth southeast markets
Demographics: high-growth region (population + employment) with a strong middle-income resident base
Property Age: built after 1970
Size: 100+ units
Our Team
The Atlanta-based team is passionate about workforce housing. We believe that our investors deserve better than average returns, and our residents deserve a management team that is attentive, professional and detail-oriented. Our combined decades of experience work to bring this pursuit to reality.
Steve Firestone
Founder & Principal
A veteran of the real estate industry on both sides of the Pond, Steve has shaped his entrepreneurial pedigree with a variety of ventures that afforded him career-long, influential relationships. He launched Crown Bay group in 2015 following nearly two decades in the real estate sector.
Getting his start in acquiring and managing a residential portfolio in London, Steve quickly shifted to real estate development at the helm of several companies seeking both commercial and residential opportunities. Further expanding his knowledge base was the opportunity to work with notable London real estate leader Graham McDonald. During this time, Steve refined his eye for a deal, sharpened his negotiation skills and carried a project from site selection and acquisition through zoning and permitting to construction and completion. Identifying and implementing asset optimization strategies has always been his focus and key to success.
In his role with Crown Bay Group, Steve oversees the pursuit and capture of value-add multifamily transactions. His relentless pursuit of above-average returns to his investor partners and a superior environment for residents continues to shape his career. Steve will tell you that relationships are the foundation of his real estate pursuits as well as a key factor in historically delivering above expectations.
Steve currently lives in Alpharetta with his wife, Anna, and their two daughters.
Michael Schmidt
Principal
Michael launched his real estate career over a decade ago with the world’s largest commercial real estate services and investment firm, CBRE.
Tagged with the big-name experience and an eye for value, Michael moved to Metzler Real Estate, the real estate arm of Germany’s oldest private bank, where he was intricately involved in acquiring over $1 billion of commercial real estate.
In 2019, Michael started his own real estate investment firm, Acorn Property Group, where he sought value-add opportunities within the multifamily sector. Following two successful transactions with Crown Bay Group, Michael and Steve decided to join forces.
In his role with Crown Bay, Michael seeks and evaluates potential acquisitions, ensuring that every opportunity is realistically and strategically weighed and that potential performance is accurately projected. His quest for the hidden value pushes his creative approaches to problem-solving and ensures that no opportunity is overlooked.
Michael has a bachelor’s degree in finance from the University of Georgia and a master’s degree in real estate from Georgia State University.
Michael resides in Atlanta with his wife, Hillary, along with his two children.
Michelle Fischer
Asset Manager, Director
Crown Bay Management
Michelle has built a reputation for optimizing multifamily real estate in Atlanta and other high-growth markets throughout the Southeast. The fix is her passion. And her extensive knowledge is her toolbox to transform challenges into opportunities.
With 30 years of experience and a pedigree of over 50 multifamily properties, Michelle has managed the overall operations of thousands of housing units. She has worked hand-in-hand with senior executives and real estate investment teams touring, evaluating and performing due diligence on potential multifamily acquisitions. Michelle is equipped with a dual understanding of day-to-day operations and a refined, global insight into long-term asset performance.
As asset manager, Michelle captains her team tapping her strong leadership skills to ensure that the appropriate operational strategies are deployed with efficiency, accuracy and professionalism. She is responsible for the overall operation of every property in the Crown Bay Group portfolio ensuring policies and operations align with industry standards, government regulations and the firm’s overall mission. Her ability to ensure that property management decisions and pursuits support asset management goals and objectives, best positions each asset for success.
Michelle currently lives in Marietta, Ga.
