Primestone Partners, a New York-based management company focused on strategic technology investments, announced today that Mike May, a prominent multifamily housing and capital markets expert, has joined the Company’s Technology Advisory Board.
May spent most of his career at Freddie Mac, where he held senior leadership positions throughout the company, most recently as EVP – Head of Multifamily. After Freddie Mac, he served as Executive Vice Chairman and Head of Multifamily Capital Markets, Debt & Structured Finance at Newmark Knight Frank, and as National Head of Multifamily for CCRE Real Estate.
Presently, May is an investor in early-stage PropTech companies at Hamilton Ventures. He is also a member of the Advisory Board of Clarendon Partners and a member of the Boards of Directors of the National Equity Fund and the National Multifamily Housing Council.
“Temporary furnished housing presents an intriguing opportunity for multifamily property owners looking to enhance their profitability by lowering vacancy rates and earning premium rents from corporate lessees,” said May. “However, industry fragmentation remains a significant obstacle to pursuing that strategy. I am excited to work with Primestone to build a digital bridge connecting multifamily properties with the demand side of the temporary furnished housing market.”
Bruce Witherell, Chief Executive Officer of Primestone Partners, added, “Mike and I had a great working relationship at Freddie Mac, and I am thrilled to collaborate with him again. His multifamily experience and relationships will be invaluable as we build out our temporary furnished housing technology platform.”
Primestone Partners is an investor/incubator with a history of investments in the hospitality and extended-stay housing market, including a leading software developer and a corporate housing solutions provider. The Company also offers advisory services to the mortgage, real estate, and technology industries. The principals at Primestone Partners have held senior management roles at leading investment banks, PE firms, GSEs, and at global and U.S. real estate operations. They have built companies, led multi-billion-dollar financings, engineered turnarounds, and launched start-ups for major financial institutions.
