CHICAGO – Newcastle Limited* announced the promotion of Steve Merchant to Chief Operating Officer. As COO, Merchant’s responsibilities at the firm will expand to include all operations for Newcastle multifamily and retail property portfolios. Merchant joined Newcastle in 2020 as Managing Director of Multifamily Operations. Under his leadership, Newcastle apartment operations used data-driven solutions to increase occupancy and revenue and improve operational efficiency through the COVID-19 pandemic. In his new role, Merchant will also drive the profitability of the firm’s retail and mixed-use assets and develop operational leadership.
“Steve’s experience transforming our multifamily operating platform will now benefit all aspects of Newcastle operations,” said Michael Haney, CEO of Newcastle Limited. “His unique background gives him strategic insight into the evolution of property management and how to adopt changes that will contribute to both growth and performance.”
Prior to joining Newcastle, Merchant served as Managing Director of Operations with Magnolia Capital. He was a Senior Vice President with Equity Residential, where over a 15-year career, he built the REIT’s operating platform. Previously, he was a management consultant at Bain & Company.
Merchant earned a BS in Accountancy from the University of Kansas and an MBA from The Wharton School of Business at the University of Pennsylvania. Steve is a frequent speaker at industry conferences and a member of the National Apartment Association and the Chicago Apartment Association.
About Newcastle Limited
Newcastle Limited is a real estate investment firm that acquires, develops and owns urban retail and multifamily properties in Chicago. An entrepreneurial investor with institutional backing, the firm can deploy large amounts of capital and close transactions quickly. To learn more about Newcastle, call Michael Haney at (312) 252-1401 or visit the company website at newcastlelimited.com.