Quintin E. Primo III: Real estate guru
(blackenterprise.com) On a flight from Chicago to New York, Quintin E. Primo III glances out his window and peers down at the skyscrapers that make up Manhattan’s world-renowned skyline. As the plane soars over the majestic towers of steel, concrete, and glass, Primo is filled with anticipation that soon he’ll be a major player there — and he probably will be.
This is a bold prediction, but Primo has made some bold moves to make it possible. By 2004, the Harvard Business School grad had already proven his industry mettle by building Capri Capital Advisors, a Chicago-based real estate investment management firm, into a $7 billion entity. The company, which Primo founded in 1992 with childhood friend Daryl J. Carter, was the largest black-owned business of its kind in the nation. But then Primo did the unthinkable. In March, he sold his firm’s mortgage banking unit — with a loan portfolio of $5 billion — to CharterMac, a $19 billion real estate finance company, and in return received millions in cash and access to CharterMac’s resources. (more…)
