The history of The Medve Group cannot be told without providing a history of its founder, Jakob Medve. The culture and direction he provides is woven into the fabric of the organization and allows for its continued success as the company grows.

 

Jake’s family emigrated from Hungary to Israel when he was four years old. At age 22, Mr. Medve came to the United States and settled in St. Louis, Missouri. Despite knowing very little English at the time and his humble beginnings, Jake put himself through college at the internationally renowned Washington University while working just about every job you can imagine: landscape laborer, airport taxicab driver, and working the line in a Hydrox cookie factory. He received a Bachelor of Science degree in Business Administration with a concentration in accounting and investment.

 

Following graduation, Jake joined the May Company Department Stores (now Macy’s) as a buyer in their furniture department. This experience gave Jake direct exposure to the supply and demand conditions underlying a retail environment, including pricing dynamics, forecasting, marketing, and inventory management. While Jake was successful and recognized as a top buyer at that time, he knew his passion laid elsewhere. Jake entered the real estate field on a part-time basis after assembling an investment group and acquiring more than 200 apartment units between 1975 and 1979. Mr. Medve left the May Company in 1979 to pursue real estate on a full-time basis and founded J. Medve Investment and Management, Inc.

 

In the late 70’s, Jake foresaw the economic downturn and converted his assets to cash in order to be poised for distressed opportunities. He began acquiring larger multi-family properties that others considered seriously distressed. He determined that these properties just required targeted renovation, stronger management, and/or a steady hand to carry them through the downturn. This strategy proved prescient, providing for exponential growth in value and forming the backbone of the company. He continued this strategy, often going against market trends, building a diverse portfolio with properties ranging from stable “C” properties to luxurious “A+” properties.

 

In early 2005, Jake made the decision to relocate to Dallas, TX, leaving St. Louis, MO, the city he had called home since coming to the United States. The decision to relocate to Dallas was to place in the core area of the company’s operations and allow easy access to other markets for growth. The satellite office that Jake opened continued to grow and eventually became the new headquarters of the company.

 

Jake epitomizes the concept of hard work, perseverance, creativity, and careful balance of long hours at work with family and a quality lifestyle. Physical fitness has always played an important role in his life. Jake is an avid hiker. He has hiked some of the most famous mountain ranges around the world but, to this day, one of his favorite experiences was hiking with a team of Medve Group associates to the summit of Mt. Whitney, the tallest mountain in the contiguous United States. His greatest passion, aside from family, is for Multifamily Real Estate.