About

Michael Grube brings more than 30 years of experience in the real estate development and affordable housing industry to MG Real Estate LLC (MGRE). He is responsible for identifying and pursuing development activities throughout the Midwest. These development activities include acquisition/renovation and new construction of multi-family properties utilizing private and public loan funds, and public incentives including Low Income Housing Tax Credits, Historic Tax Credits, HOME and CDBG funds.

Mr. Grube has developed or redeveloped more than 1,950 units of housing at a total development cost of $164 million and over 1,600 of those units designated affordable or work force housing. Prior to creating MGRE, he was the Director of Development for the Yarco Company. As Director of Development, he was responsible for leading all multi-family development activities over a nine-state Midwest region. Development activities included affordable housing utilizing federal and state LIHTC, tax exempt bonds, HOME, CDBG and other public and private funding options. Duties included sourcing properties, underwriting to lender and investor parameters, securing financing, lease-up and asset management. At Yarco, he developed almost 400 units of workforce/affordable housing with a total development cost of approximately $64 million. One project of note, St. Michael’s Veterans center, which provides housing for homeless veterans, received the National Apartment Award for Excellence for Best Affordable Property in the Nation.

Prior to working at the Yarco Companies, Mr. Grube was responsible for operating analysis, restructuring, refinancing, and disposition strategies for more than 110 properties for McCormack Baron Salazar. He was also responsible for the portfolio management of more than 200 properties. He was responsible for evaluating operating performance and maximizing the value of the portfolio by providing traditional owner services which include compliance, refinance and disposition strategies, and as a liaison to investors, state housing finance agencies, lenders, trustees and management companies.

Mr. Grube also worked at Bank of America Community Development Corporation, a for profit developer of workforce/affordable housing. He was responsible for the Kansas City and St. Louis region. His duties included identifying real estate development and investment opportunities for affordable and mixed-income housing. He was responsible for new construction and renovation of over 1,200 units in Kansas City and St. Louis, Missouri.

Currently, Mr. Grube is certified as a Housing Development Finance Professional from the National Development Council, serves on the Curriculum Advisory Board for the Graduate School of Urban Planning at the University of Kansas, and is a lecturer in the Graduate School of Urban Planning and Public Policy. He received his undergraduate and graduate degrees from the University of Kansas.

• Project management, asset management and real estate development experience including acquisition/renovation, new construction and historic preservation. 

• Developed more than 1,950 units of housing at a total development cost of $164 million. 

• Site selection; feasibility studies; pro forma analysis; multi-layered financing packages; tax abatements; tax increment financing; tax credits; negotiating investment terms, conventional financing; tax-exempt bonds and government funds.

• Ability to work with architects, contractors, attorneys, accountants, and negotiate and coordinate with government agencies. 

• Construction, marketing, leasing and negotiating acquisitions and sales.

• National Apartment Association Award for Excellence for Best Affordable Property in the Nation 

• Apartment Association of Kansas City Best Affordable Property (multiple years) 

• Kansas City Economic Corporation’s Cornerstone Award (multiple years) 

• Kansas Business Journal’s Capstone Award (multiple years)