Jorge Perez insists that he and his Related Group have learned important lessons from the last real estate cycle and made critical changes in doing business this time around.
The Related CEO is delegating a lot more during the current cycle and emphasizing philanthropy and legacy, Perez told the Miami Herald in an in-depth profile. His $40 million donation of cash and art led to the city’s new art museum being named Perez Art Museum Miami (or PAMM).
Perez returned to the Forbes list of the 400 wealthiest Americans last year, checking in at No. 350 with an estimated net worth of $1.6 billion.
Related has restructured its company since the downtown so it is not as heavily reliant on condos. Of the company’s 29 projects under construction, only 12 are condos.