By: Deborah Johnson Wood
If you’ve looked around Grand Rapids and East Grand Rapids this week, you’ve probably noticed new signs advertising properties offered by CWD Real Estate Investment in several commercial buildings.
That’s because three well-known Grand Rapids developers have formed a new enterprise geared toward providing high net worth investors with a portfolio that includes a variety of real estate investment opportunities.
Sam Cummings of Second Story Properties, Scott Wierda of Jade Pig Ventures, and Dan DeVos of DP Fox Ventures LLC created CWD Real Estate Investment, a firm with 14 employees who will work out of a 4,000-square-foot space at 15 Ionia SW, the expanded former office space of Second Story Properties.
“With over 70 years of experience between us, we tend to look at investment in real estate as part of a well balanced investment portfolio,” says Sam Cummings. “Over the course of our careers there are a number of individuals who have approached us wanting to be investors in real estate, and they want to have those investments well managed by people they know and trust.”
The new company will offer clients four investment options: real estate investment, brokerage, property management and development.
“We’ve gained experience in different product types in real estate: I’ve done urban redevelopment, Scott’s done retail, and Dan’s experienced in almost everything and has an extraordinary strategic thinking capacity,” Cummings adds. “We get that diversification of product aptitude that allows us to diversify in product type and in geography. We’re looking at Midwest investments, perhaps beyond that.”
The names of Second Story Properties and Jade Pig will go away, replaced by CWD, although the former Jade Pig—the partnership between Wierda and Brian DeVries—will continue to operate as a separate company. DeVos will guide CWD’s strategic direction while continuing with DP Fox, which owns several auto dealerships and real estate endeavors.
Source: Sam Cummings, CWD Real Estate Investment; Kate Washburn, Wondergem Consulting
Photograph by Brian Kelly for CWD Real Estate Investment
Deborah Johnson Wood is the development news editor for Rapid Growth Media. She can be contacted at [email protected].
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