Ducharme Leads Basis’ Initiative to Expand into Car Wash Development, Distressed and Value-Add Retail, Select Multi-Family Development Projects, and More
BOCA RATON, Fla. , May 10, 2023 /PRNewswire/ — Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Boca Raton, Florida, has appointed Max Ducharme as managing partner of Basis Alternative Investments. This branch of Basis Industrial, a major new initiative, focuses on special situations and opportunistic investment strategies such as car wash development, distressed and value-add retail, and select multi-family development projects.
In his position, Ducharme, who resides in West Palm Beach, focuses on Basis Industrial’s expansion outside of multi-tenant industrial and self-storage. As Basis breaks into the car wash space, Ducharme will be tasked with identifying existing car wash facilities and land sites for new conveyor car wash facility development. In addition, he will be selectively focused on distressed value add retail opportunities, with the objective of revising the tenant base, developing outparcels, and repositioning obsolete centers to create opportunistic returns for Basis and its investors.
Ducharme is focused on the Southeast U.S. and New York tri-county areas. Target markets in the Southeast include Florida, Alabama, Tennessee, and the Carolinas.
Prior to joining Basis, Ducharme was the senior vice president of Investment & Development for the Falcone Group, where he was responsible for all aspects of the development process, from new market strategy through leasing, including acquisitions, development, and capital markets. There, he also oversaw all transaction related matters for the Falcone Group’s Miami World Center master-planned development, where he was involved in capitalizing over $2 billion of development across multiple property types.
Prior to joining the Falcone Group in 2017, he served as head of Strategic Planning and Development for Bite Group, a leading telecommunications and media group in Lithuania, Latvia, and Estonia. He began his career with the M&A Advisory practice in KPMG’s New York City office. In that role, he assisted private equity and corporate clients on buy-side and sell-side activity.
Ducharme holds a Master of Business Administration from The Wharton School of the University of Pennsylvania in Philadelphia, a Master of Arts from the University of Pennsylvania, and a Bachelor of Science in both Accounting and Finance from Lehigh University in Bethlehem, Pennsylvania.
“Max joins us with a great deal of experience in an all aspects of real estate development and finance. He has an excellent understanding of the benefits of curating the optimal tenant mix with respect to suburban retail and is well versed in new site acquisitions and entitlements – elements that will be critical to our success in this new and exciting expansion of our core business,” said Daniel Weinstein, CEO of Basis Industrial. “With his broad range of expertise, we look forward to further expanding throughout the Southeast U.S. and Sunbelt markets and diversifying our real estate holdings.”
“I’m happy to bring the experience and exposure I have had in my previous roles, including development, strategic planning, private equity and corporate, to Basis and lead its expansion efforts,” said Ducharme. “I am considered the financial architect of the Falcone Group’s Miami World Center for all transactions, and I look forward to bringing that expertise to Basis.”
About Basis Industrial
Basis Industrial is a vertically integrated real estate owner and operator formed by industry veterans and sponsors Jay Massirman, Stephen Garchik and Daniel Weinstein. Basis brought Anthony Scavo on as COO/President to run day-to-day activities of the company. Together they have over 100 years of combined Real Estate Development and Management experience. It has deep roots in the self-storage and industrial sectors. Basis currently owns over 2.5 million square feet of self-storage and industrial real estate and is scheduled to close another 1 million square feet in 2023. Active markets for Basis include South Florida, Pennsylvania, New Jersey, New York, Texas, Boston, Los Angeles and select urban markets nationwide. In total, the sponsors have developed and managed over 13.5 million square feet of real estate assets including self-storage, industrial, retail, office and residential. BaySpace is the property management arm of Basis. For more information, visit www.basisindustrial.com or www.bayspace.com.
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SOURCE Basis Industrial