“The Only way WE know how to THINK is OUT OF THE BOX”

About Andrew

Andrew “Avi” Greenbaum OWNER/PRINCIPAL

Andrew “Avi” Greenbaum is the CEO of Triple Double Real Estate and is a twenty-year veteran in the real estate industry.  In the late 1990’s, Andrew was an independent director for Northstar, the owners of Ian Schrager hotels and Morgan’s hotel Group.  Under the Hudson Capital umbrella, he teamed with Morgan’s and Crescent Heights to work on the Miami Mondrian hotel and condominiums.  He followed up these hospitality projects by purchasing three small motels in Lake Worth, Florida and converting them all to workforce housing.  The Eastgate motel, in Kissimmee, FL followed, with a 402-unit conversion from motel to workforce housing.  Mr. Greenbaum then purchased and renovated the famed Sunday House hotel, in Delray Beach, FL, a boutique hotel, wedding venue and botanic garden directly in the heart of downtown Delray.  Mr. Greenbaum, recognizing the largest housing problem in America is the workforce housing shortage, followed up with the purchase of 210 units in San Antonio to serve this purpose.  Andrew increased his San Antonio portfolio, purchasing the 113-unit Red Roof Inn for conversion.  Not looking to slow down, Andrew is already under contract for the 400-unit Banyan Hotel, Orlando, FL, which he plans on converting to workforce housing, while building relevant street front retail.

Andrew and team bring forth the strategies they have employed over nearly two decades of development and management.  Specializing in medical and commercial office, as well as hotel to residential conversion projects, Andrew and his team have been adding value to projects through multiple avenues, including adaptive re-use, lease-up and renovation. Andrew has managed, bought and built over 4,000 residential units and over 9 million square feet of commercial space. Andrew brings his vision and expertise on acquisition, management, development, corporate operations and finance.

Prior to Triple Double and Hudson Holdings, Andrew was a Founder and Principal of the Miami based company, Hudson Capital. Hudson Capital was a mixed-use developer encompassing residential and commercial rental properties, ground up construction and condominium conversions. Hudson Capital developed over $1 billion of commercial property. At Hudson Capital, Andrew focused on acquisitions, finance and operational functions. He worked closely with institutions, brokers and individual property owners in search of value-add propositions. Andrew also served as a Principal and Director of Washington Mortgage, a mortgage banking joint venture with Wells Fargo.

Andrew has held NASD Series 7, 63 and 55 licenses. With these licenses and utilizing his customized strategies, he traded various financial products, commodities and derivatives. In 2000, Andrew founded Spectrum Capital Partners LLC, a trading firm specializing in proprietary trading of stocks, futures and other financial products. He expanded the business to 200 employees and in 2002 merged the company with his former employer, a NYSE firm, before selling his share in 2003.

In 1998, Andrew co-founded Foundation Source, a financial service software firm that has become the largest administrator of private charitable foundations in the United States. Clients include JP Morgan, Morgan Stanley, Northern Trust, TD Ameritrade, UBS and Wilmington Trust. Beginning with $20 million in venture capital, Foundation Source currently has over $10 billion in assets under administration. Foundation Source sold for over $110 Million Dollars. Andrew holds a BA from Yeshiva University and a JD from Brooklyn Law School.

A sampling of Mr. Greenbaum’s current and past projects:

• Midtown Delray, acquired for $22,000,000 in Delray Beach, FL, Sold for $40,000,000.
• Windy Hill Medical Office, 90,000 square feet adjacent to Wellstar Windy Hill Hospital, acquired for $15,870,000 in Marietta, GA, sold for $21.8MM.
• Timber Ridge Medical Office, 50,000 square feet adjacent to WellstarDouglasville Hospital, in Douglasville, GA. Acquired for $6.4MM, sold for $10.8MM in 30 months.
• San Antonio Qubed, acquired 210-unit hotel and currently redeveloping into workforce housing, in San Antonio, TX.
• San Antonio Red Roof Inn acquired 113 unit motel and converting to workforce housing. Paid $4.1MM.
• Norcross/Peachtree Corners, Closing on a 88,000 square foot portfolio of two buildings, for $8,200,000 in Peachtree Corners/Norcross, GA.

• Coral Springs Towers, a pair of mixed office towers in downtown Coral Springs, FL. Property is 75,000 square feet, with excess land for development and 30,000 feet of current vacancy.  Paid $10.5MM.
• Miami Towers, a pair of buildings totaling 312,000 square feet, in downtown Miami, purchased for $56MM, all in for $86MM.
• Roswell, GA, purchased 90,000 square feet of flex office space for $10.9MM.

• North Miami Beach Medical Office, acquired for $1,000,000 in North Miami Beach, FL, sold for $1.65MM, 8 months later.
• Tamarac Medical Arts Building, acquired for $6,400,000 in Tamarac, FL, and sold for $10.2MM in 24 months.
• Tamarac 7710 Medical building acquired for $2,800,000, LOI’s to sell for $6.7MM within 24 months.
• Andre Way Industrial, acquired for $4,000,000 in Delray Beach, FL, Sold for $6.4MM in 18 months.
• Statler Garage Building, acquired from lender for $2,400,000, prior sale was $6,300,000 in Cleveland, OH and appraisal at $6,000,000.
• Eastgate Hotel and extended stay rental acquired 402 units for $6,300,000 in Kissimmee, FL for conversion to micro unit and extended stay rental. Current value over $20MM.
• Banyan Hotel, purchasing a 400 unit motel for conversion to workforce housing, in Orlando, FL, for $23MM.
• Lake Worth portfolio. Acquired about 120 units of motel properties and converted them to residential micro units, with a master lease to Goodwill.  Sold for 100% return on equity in less than 2 years.
• West Palm Beach Medical office, acquired 50,000feet for $5,200,000, already appraised at $6,200,000 within 6 months. Occupancy increased from 50% at acquisition to 75% within 8 months.
• Riviera Beach Office, acquired 50,000 feet for $5,000,000, already appraised above $7,000,000.
• Boynton Beach Medical office, acquired 40,000 feet, 50% vacant for $6,400,000. Sold for$11MM, in 11 months.
• Gadsden Medical office, acquired120,000 for $5,500,000, already appraised at $8,500,000. We immediately stabilized the building by extending the majority of the leases and solidifying the hospital tenant for the long term.REIT who sold to us was all in above $20MM.
• Hillsboro Medical office, acquired 41,000 feet adjacent to Century Village, for $6,600,000, already appraised above $9,000,000. Occupancy increased from 75% at acquisition to 95% within 2 months.
• Huntington Bank Building, acquired for $20,000,000 in Cleveland, OH, sold for $40,000,000 in 24 months. Over 1.4MM square feet of office and retail.
• Republic Bank Building, acquired for $3,200,000 in Louisville, KY, Sold for nearly $4MM, with a $1MM additionalsale of an easement.
• Gulfstream Hotel, acquired for $7,400,000 in Lake Worth, FL, Sold for $10.6MM.
• Linton Office Building, acquired for $7,300,000 in Delray Beach, FL, Sold for $10MM.
• Wells Fargo Tower 150,000 square feet office tower acquired for $34,000,000 in Miami, FL., Sold as office Condominium’s for more than $45,000,000.
• Itopia 384-unit apartment complex acquired for $35,000,000 in St.Petersburg, FL. Sold out as Condo for more than $53,000,000.
• Key Royal 284-unit condominium complex acquired for $30,000,000 in Naples. Sold out as Condo for more than $36,000,000.
• Milano 200-unit condominium complex acquired for $19,500,000 in West Palm Beach. Sold out as Condo for more than $26,000,000.
• Hawthorn Estates Apartments 396-unit apartment complex acquired for $28,000,000 in Schaumburg, IL. Sold for more than $32,000,000.

• P 561.444.0023 C 561.902.7610
• AG@tripledoublere.com

About Heath

Heath Wruble is the Chief Operating Officer of Triple Double RE. He joined the company in 2021 and works closely with Andrew Greenbaum to help oversee the firm’s management, administration, and operational procedures, in addition to streamlining all compliance-related aspects of the firm. Wruble also oversees several special projects connected to the firm’s portfolio and is part of the acquisition team.

Heath joined Triple Double after spending over 25 years on Wall Street managing the relationship between the firms and the various regulatory governing bodies. Previous firms include Kestra Financial, Bear Stearns, Smith Barney, Morgan Stanley, Guggenheim Partners, and Quick & Reilly/Bank of America.

As a proven entrepreneur, Heath has also started, owned, and operated several companies, leading them to successful exits, and has written several business articles that seek to improve business efficiency. Heath’s business-savvy entrepreneurial spirit makes him a perfect addition to the firm.

• P 561.444.0023 C 646.431.7418
• HW@tripledoublere.com

About Sammy

Sammy Rhein is the Director of Brokerage and Leasing of Medical Office Brokers (MOB), www.medicalofficebrokers.com . He manages Triple Double’s leasing portfolio, overseeing lease-up strategies and leasing terms for the company. Sammy has helped fill millions of square feet of office and retail space since joining Triple Double in 2019.

Triple Double benefits from Sammy’s business development, marketing, sales, and data analysis expertise. He has more than 25 years of professional experience in real estate, finance, healthcare, and technology industries.

A proven entrepreneur, Sammy has founded many technology firms and led them to successful exits. He brings an innovation-focused, entrepreneurial mindset to Triple Double.

Sammy is a licensed real estate broker in both Florida and Alabama. He earned a BS in accounting from the Sy Syms School of Business at Yeshiva University.

• P 561.444.0023 C 847.644.5384
• SR@tripledoublere.com

About Jeremy

Jeremy Becker is the Head of Government Relations and Zoning of Triple Double RE. He joined the company in 2022 in his current capacity and is responsible for government relations.

Jeremy joined Triple Double after spending nearly nine years as a vice president and senior vice president in JLL’s Public Institutions Group. There, he gained significant expertise in public sector transactions and advisory. He led business development and execution, as well as brokerage and advisory work, for government and higher education clients.

During his nearly two decades of professional experience and work on behalf of clients, Jeremy has advised and participated in notable transactions relating to existing assets, development and redevelopment opportunities.

Prior to JLL, Jeremy spent eight years as the Southeast Political Director for the American Israel Public Affairs Committee (AIPAC). During that time, developed extensive relationships with elected officials and staff.

Before that, Jeremy practiced law in New York City. He graduated from the University of Michigan with a major in political science and earned his law degree at Emory University.

• P 561.444.0023 C 404.556.5647
• JB@tripledoublere.com

About David

David Ray is the Vice President of Property management at Triple Double Property Management, LLC. He also manages the hospitality operations of the firm as Vice President of Operations of Qubed Living. He has over 24 years of hospitality experience. Mr. Ray joined the firm in 2022and in his current capacity, he is responsible for managing all hotel operations and is the regional director of the property manager division.

David started his career in the hospitality industry in 1996 as a night auditor. He rapidly expanded his roles throughout his career due to his thoughtful presentations and knowledge within the industry. He has been an asset to the many different organizations he has run, ranging from General Manager, Revenue Manager, and currently the role of VP of Operations.

Additionally, David has extensive knowledge of hospitality technology, focusing on Property Management Systems (PMS) and 3rd party reservation systems. He has been integral in our 210 Studio Living project, leading the technology buildout.

His primary focus as Vice President of Operations for Triple Double is guest satisfaction, team building/leading, investor relationships, and financial accountability.  He can take a struggling property, turn it around, return it to brand standards, and decrease employee turnover.

About Jon

Jon Green is the General Manager for Qubed Living and 210 Studio Suites, the hospitality arm of Triple Double Property Management. He manages the day-to-day operations of our workforce housing hospitality assets.

With over 20 years in the hospitality space, Jon is an integral part of our operations and works closely with David Ray, our Vice President of Operations.

Jon started his hospitality career in 2004.  Throughout his career, he has held various positions that have ranged from Support Manager, Project Manager to Area Supervisor.       His prior experience with Home Depot has been integral during the renovations of our assets by being able to reduce costs with repairs and not having to bring in outside contractors to complete multiple projects.