A. David Kosoy B.A., J.D. – Chairman & CEO
Well respected figure within the real estate investment community, Mr. David Kosoy has over 40 years of successful real estate investment, lending and development experience throughout Canada, the United States, the United Kingdom, Turks and Caicos Islands and in the Commonwealth of The Bahamas. During his career, Mr. Kosoy has been involved as a principal in more than $1.5 Billion worth of real estate transactions.
Following 15 highly successful years as a founding principal of a Toronto based, privately held, real estate investment company (Brother Developments) Mr. Kosoy directed his attention to the United States where in 1986 he founded the Sterling Companies. The Sterling Companies’ original foray into U.S. investments included purchasing more than a dozen assets from the Resolution Trust Company (RTC). Over the next 20 years, The Sterling Companies became widely regarded as one of the preeminent value add shopping center investment and redevelopment companies in each of its selected U.S. markets.
In early 2000, Mr. Kosoy, assumed control of publicly traded Samoth Capital Corp, (nka Sterling Centrecorp Inc.) a mezzanine lending and hotel company on the verge of insolvency. Through acquisition of add-on management and brokerage business and the refocusing of a business plan, Mr. Kosoy, along with partners, took the company from a loss of $45.5 Million in 2000 to profitable years in 2002, 2004, 2005 with an Asset Base of $60.6 Million in 2001 rising to an asset base of over $300 Million in 2005. Mr. Kosoy was instrumental in taking Sterling Centrecorp Inc., publicly listed on the Toronto Stock Exchange, private.
Since 2007, Mr. Kosoy started a mortgage fund, New Providence Capital Management Partners, with funding raised privately. All capital has been deployed to date without any losses to principal or interest at this writing.
Prior to his real estate career, Mr. Kosoy was a partner at the law firms of Sax, Isaacs, Basman and Kosoy, and Kosoy, Gordin and Schiller, both in Toronto, Canada. Mr. Kosoy retired from the practice of Law in 1979 to pursue a real estate related career on a full time basis. Mr. Kosoy has also been very active in philanthropic causes including his chairmanship of State of Israel Bonds (Toronto) and world wide Chairman New Leadership for State of Israel Bonds, The Israel Tennis Center, and on the Board of Governors of the Mount Siani Hospital in Toronto. Mr. Kosoy is a graduate of the University of Akron, Ohio, which he attended on a full football scholarship, and of Osgoode Hall Law School in Toronto, where he made intercollegiate hockey first all-star team. Mr. Kosoy resides in, and is a permanent resident of, the Bahamas.