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Mile High Capital Group Announces Andrew McFaul as New CEO
Mile High Capital Group, Ltd. (MHCG), a Denver, Colorado-based real estate developer, has announced Andrew McFaul as the company's new CEO. This announcement accompanies the sale of the company by former owner and CEO Rick Dryer to McFaul, the former COO. The sale took place July 1, 2005 PR9.NET July 21, 2005 - DENVER, Mile High Capital Group, Ltd. (MHCG), a Denver, Colorado-based real estate developer, has announced Andrew McFaul as the company's new CEO. This announcement accompanies the sale of the company by former owner and CEO Rick Dryer to McFaul, the former COO. The sale took place July 1, 2005. "As our reputation, size, and operations grew from greater exposure in the marketplace, repeat business and word of mouth, I knew that the company had outgrown my skill set," says former CEO Dryer. "Andrew McFaul was a godsend. I knew the company would be in good hands." Andrew McFaul has an impressive track record of exponentially growing and then operating large businesses successfully. At the age of 15, he started a pallet-recycling company, steadily building its customer base by passing on savings from his innovative production methods. In order to service larger regional and national customer accounts, McFaul started acquiring other pallet companies, eventually owning dozens of facilities and employing 6,000 people. As his shipping needs increased, he formed a trucking company, McFaul Transport Inc. To facilitate merging with other national pallet companies, McFaul and his partners did a "roll up" of the various entities into a new company, Palex, with annual revenues of over $1 billion. In 1997 Palex became a public company, and after a one-year transition period, McFaul was able to retire at the age of 33. Before joining MHCG in 2004, Andrew McFaul spent his early retirement refurbishing high-end luxury mountain homes, but soon found a desire to return to the business world. "I learned of Mile High Capital Group through friends who had followed the company's strategies with great success," says McFaul. "But after speaking with Rick and learning more about the company's strategies, I realized I didn't want to just buy rental properties. I wanted to run this business model that was so perfect." McFaul says he plans to run the company on the same track that built its base, only on a larger scale. # # #
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Founded 12 years ago as a builder and developer of single-family attached homes, MHCG develops subdivisions around the country in areas it has identified as possible high-growth areas with a rental need, and sells its products usually to non-owner-occupied purchasers. Its products are a variety of single-family attached or small detached homes, usually with oversized garages and a specific range of renter-attracting amenities. MHCG's management has over 100 years combined experience building and developing homes, and markets a complete program to include: project infrastructure, single-family attached homes, landscaping, and all property upgrades. About Mile High Capital FMI conducts seminars across the nation for audiences of all investing levels from novice to expert. Rick Dryer is a nationally acclaimed real estate investment expert and the keynote speaker of the RPRT seminars. Dryer speaks on the investment strategies that have made him the success he is today, covering such topics as: how to use demographics to pinpoint great return areas; avoiding vacancies by giving renters the rental they prefer; anticipating growth areas; and following the creative class and retirement population to the next boom areas. |
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