Along with their father, Michael and David Marcus founded APEX Property Exchange in 1989. Michael managed the institutional sales and marketing team. When APEX was sold to JPMorgan in April of 2002 it was processing in excess of B$25 in transactions annually.
In 2002 Michael started investing in the utility class wind energy arena as the Founder of BOONER Capital. Investments in Greenlight, NedPower, MidWest Renewable Energy, Foresight, Windworks and Ridgeline were followed by successful exits to BP, Shell, Iberdrola, Veolia, and Edison Mission. This was the genesis of 271’s involvement with international investors.
Michael and his wife, Jennifer, along with their three children and their Portuguese Water Dog, Bocce, divide their time among Martha’s Vineyard, the Rocky Mountains, and Key Largo. Michael chooses to live deliberately in intimate communities where there is very little anonymity and a high degree of accountability. Integrity in both community and business is the key guiding principle behind Michael's personal and professional life.
David is a Magna Cum Laude graduate of Princeton University and the co-founder and former CEO of APEX Property Exchange. APEX had average daily deposits of B$1, and owned several B$ of property for clients ranging from REITs to corporates to high net worth families. APEX sourced many STNL properties for its clients during David’s 14-year tenure as its CEO.
In 2002 David noticed that Utility Scale Wind Assets were very similar financially to STNL properties, 20-year contracts with investment grade utilities, and equipment that was guaranteed by Siemens and GE, but at twice the unlevered yield. David invested from 2002 to 2004 in multiple wind energy developers, including Ridgeline Energy, Midwest Renewable Energy, NedPower, Greenlight, Western Wind, WindWorks, and Foresight, all of which had successful exits from 2006 to 2008 to BP, Iberdrola, Shell, Veolia, and Edison Mission.
David and his wife, Julie, along with their Golden Retriever, Millie, live in New York City and Nantucket. David and Julie play tennis, ride electric bikes, and spend time with their three adult children.