Mayor of Miami Francois Suarez joins the board of directors of ISG Worlda South Florida luxury real estate brokerage firm that secured an investment last month from one of its two private sector employers.
A statement from the company says Suarez will advise management on “the rapidly changing dynamics of the real estate industry.”
The role will be unpaid, the Miami Herald reported.
In a prepared statement, Suarez said he was looking forward to joining the newly formed board.
“With my vision of urban growth, new technologies and my previous experience in real estate law, I will advise ISG World on strategic real estate growth and development in new markets,” Suarez said.
Since May, Suarez has held two concurrent paid jobs outside of City Hall. He is a lawyer at Quinn Emanuel Urquhart & Sullivan LLPself-proclaimed “the world’s largest law firm devoted solely to business litigation and arbitration”.
Suarez is also a Senior Operating Partner at DaGrosa Capital Partners LLC, a Miami-based private equity firm. In October, DaGrosa invested in ISG World based on an agreement with the CEO of ISG Craig Studnicky. DaGrosa did not specify how much he had invested.
The founder and president of the firm, Joseph DaGrosa Jr.also has a seat on the board of directors alongside Studnicky, the chairman of the board and the president of the ISG Michael Ambrosio.
ISG specializes in the sale of new and pre-construction condos. Through some 150 projects since its founding in 1992, the brokerage firm has sold more than $12 billion in real estate.
ISG also celebrates 10 years as a partner of Related ISG Realty, a collaboration between Studnicky and a billionaire real estate developer. Jorge Perezwhich is widely known as “condo king” of Miami.
Will know, 44 years old, was re-elected by an overwhelming majority last month. In his November 3 victory speech, he listed priorities for the second term, including expanding affordable housing, using public lands for the public good, ending homelessness, maintaining a low taxes and the pursuit of making Miami a cryptocurrency hub and “the capital of capital.”
He left his four mayoral opponents in the dust when it came to Fund raising, raising nearly $6.3 million ahead of Election Day. Of that, he still has $4.8 million to spend on his next political conquest – including a potential race for the White House in 2024.