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Background
Candace Rubin Real Estate (“Rubin”) is a Dallas-based real estate investment and advisory company with more than forty years of varied real estate expertise. As a SAMDA RTC-FDIC registered minority woman owned business, Candace Rubin has through the years provided a variety of hands-on services including brokerage of urban land, industrial, retail and some residential, due diligence review and coordination, property inspections and analysis, business planning, dispositions and work-outs as well as tax assessment review, tax protests, and many aspects of environmental work. This kind of expertise, not duplicatable by the typical young MBA’s, but rather gained only through years of practice is what sets Rubin apart from others in the field. This expertise has been put to work repeatedly by organizations such as Comerica Bank, Pegasus Bank, the Resolution Trust Corporation, Federal Deposit Insurance Corp., Central Dallas Community Development Corp, West Dallas Community Center, Sherman & Yaquinto LLP, Luther King Capital Management Company, Cardinal Investments, Kennedy Funding, Inc., Spinnaker Industries, Sierra Technologies, Clearwire Technologies, Inc., Rosanni Foods, Simeus Foods, Lucas Aerospace, Steere Tanklines, Wooten Industries, Drew Industries, Anglo American Financial, Furrs Cafeteria, Greenleaf Auto Recyclers, Industrial Container Services, MAXXAM, Rainwater, Darling Delaware, and Villa Retirement Inc.
Strengths
Candace Rubin specializes in problematic property liquidation and tax evaluations. Her track record of selling real estate which is remote in location, functionally obsolescent, containing environmental problems, or having financing problems is outstanding. Her reputation nationwide is excellent for being able to de-tangle and liquidate hard to sell properties for a fair market value and to reduce the tax valuations of these “hard to sell” properties considerably. Her work in Broker’s Opinion of Value/Site Evaluations has been used by lenders, corporations and individuals with great satisfaction. Her “Brokers Opinion of Values” has been used in numerous IRS tax cases, accepted by RTC, and FDIC, and accepted by most major lenders including Pegasus Bank, Heller Financial, GE Credit, Bank Boston, Banc One, Kennedy Financial, Anglo American and most local Dallas S&L’s.
Recently, Candace Rubin has facilitated multiple owners in maximizing value with City, County, and various agencies in condemnation cases. Candace has participated actively in street abandonments for Harry Hines, Race Street/Fair Park Link, and Cesar Chavez. Candace has assisted in MSD (Municiple Settings District) and re-zoning cases. She has provided expert witness testimonies on behalf of the owners in tax hearings, bankruptcy proceedings and condemnation suits.
Principal Activities
Rubin’s skills have been sharpened through the years not only by providing repeated brokerage and advisory services, but also by being a principal in real estate investments and tax work; thereby gaining significant insight into both ownership roles and the kind of information required for principal decision making. In this regard Rubin has been or is currently involved in the ownership of more than eighty commercial and thirty residential properties.
Significant Accomplishments
South Dallas Development Corp. aka People Fund:
(2009 to Present)
Provides opinion of values on assets, reviews title and analyzes commercial and residential properties that will be used as collateral on potential loans.
Central Dallas Community Development Corp.:
(2011 to 2015)
Assists in liquidating properties held in the portfolio. Candace also assisted in valuing, marketing and selling numerous sites owned by CDCDC.
West Dallas Community Center:
(2011 to 2015)
Assists in liquidating properties held in the portfolio owned by the West Dallas Community Center. Candace also assisted in valuing, marketing and selling numerous sites owned by WDCC.
SPCA of Dallas:
(2010 to Present)
Assisted in providing selected due diligence efforts for SPCA of Dallas and its related entities. As part of this effort, Rubin assisted in complete site inspections, market comparables, tax evaluations, and assistance with the sale of properties. In the year 2012, she assisted in condemnation procedures for property owned by SPCA and negotiated a fair market value for the taking on behalf of the SPCA.
Baylor Health Care:
(2009 to Present)
Candace Rubin is responsible for assisting in all due diligence prior to acquisition and is responsible for selected due diligence efforts for acquisition of properties. Assist in locating and acquiring locations for expansion of existing hospital and new locations.
Cardinal Investments:
(1984 to Present)
Cardinal Investment specializes in acquiring existing and problematic mid-sized companies between $50-$100 million. Candace Rubin is solely responsible for overseeing all due diligence prior to acquisition and is responsible for title, environmental, appraisal and book value on real estate. After valuing the sites, Candace Rubin is responsible for brokerage of any redundant sites. Rubin assisted in providing selected due diligence efforts for this company on its acquisition of over 20,000 acres. As part of this effort Rubin had full responsibility for a tax valuation review of all properties and subsequent tax protest work including consolidation of over 1000 accounts to approximately 100 accounts.
Comerica:
(1980 to Present with former Board Members)
Located and acquired over 40 locations for new bank offices and drive-ins, often the buyer was anonymous until the blockage was complete. Analyzed non-performing loans on a per-job consultant basis and made recommendations as to workout or foreclosure. (Formerly Grand Ave. Bank…employed from 1980-present).
Darling Delaware Corporation:
(1986 to Present)
Since 1986 Rubin has been in charge of all facets of Darling’s real estate including site analysis, valuation, strategic direction, environmental remediation, tax assessment and valuation, and property dispositions for this 140 property, $440 million private company. She has resolved issues ranging from title objections to severe environmental problems with results including the successful disposition of more than fifty properties over the past thirty-six months. More than 90% of the dispositions were for all cash even in the face of this difficult financing environment.
Luther King Capital Management:
(1985 to Present)
Provides analysis and reports monthly on real estate investments. Prepares a monthly summary and spreadsheet showing progress of clients. Rubin also provides due diligence on new acquisitions and tax reduction for existing properties.
Daniel J. Sherman and Rob Yaquinto, US Bankruptcy Trustees:
(2000 to Present)
Provides opinion of values on Bankruptcy assets, “scrubs” title and liquidates all commercial and residential tracts awarded by the Bankruptcy Courts, through out the State of Texas.
Kennedy Funding, Inc. and Anglo-American Financial:
(1990 to Present)
Assisted in providing selected due diligence efforts for this company on its loan process on over a dozen sites. In this regard she assisted in complete site inspections, market comparables and operational reviews along with tax evaluations and protesting.
Spinnaker Industries:
(1998 to Present)
Assisted in providing selected due diligence efforts for this Spinnaker Industries and its related entities. As part of this effort, Rubin assisted in complete site inspections, market comparables, tax evaluations, tax protesting, and assistance with the acquisition and sale of selected properties. In the year 2001, she assisted in site evaluations on over 48 properties located within 8 different counties in North Carolina.
Clearwire Technologies, Inc.:
(1999 to 2001)
Set up a startup wireless internet companies real estate which is contemplating acquiring 2000 locations between 9/1/99 and 12/31/01. Identified and negotiated Master Lease Agreements with the major antenna companies nationwide.
Dallas Area Habitat for Humanity:
(2019 to Present)
Assisting in providing selected due diligence efforts for Dallas Area Habitat for Humanity and its related entities. As part of this effort, Rubin assists with the sale of properties.
North Texas Tollway Authority:
(2019 to Present)
Provides opinion of values on assets, “scrubs” title and is in house Broker for all commercial and residential tracts being sold by NTTA.
The Dallas Foundation:
(2018 to Present)
Provides opinion of values on assets, “scrubs” title and sells commercial and residential tracts required by the Foundation.
Dallas Housing Authority:
(2018 to Present)
Awarded a three (3) year contract as in-house Broker.
Dallas Independent School District
Education
Graduated from the University of Pacific in 1974 with a Bachelor of Science degree in Political Science; Senior Property Tax License (#2406); Continuous educational courses in real estate; environmental law; mortgage banking; contract law. Broker’s License #:0265315 expires 4/30/18
Memberships
Board Member of NTCAR, Highland Park Leadership Program, Highland Park Mosquito Committee, State Comptroller’s Arbitration Registry, Texas Association of Property Tax Professionals (TAPTP), Stemmons Corridor Business Association (SCBA), National Association of Realtors, and The Real Estate Council
References
Robert Grunnah, Younger Partners
Joe McElroy, Square Foot, Inc.
Dr. Terry Flowers, St. Philips Academy
Joe Goyne, President, Pegasus Bank
Robert Todd, City Realty Group
Sherman Roberts, City Wide Community Ctr
Richard Squires, President, SPI Holdings, Inc.
Peter Lewis, Solid Counsel
Mitchell Fonberg, Fonberg Investments
Robin Rodriguez, Anglo American Financial
Bryan King, Luther King Capital Management Co.
Ned Fleming, Spinnaker Industries
Daniel J. “Corky” Sherman, Sherman & Yaquinto
Joe Kemp, KKR Construction
Rob Yaquinto, Sherman & Yaquinto
Claire Schwarz, SPCA of Dallas
Eric Byrd
Wes Huff, Baylor Health Care
Pamela Shannon, NTTA
Matthew Randazzo, The Dallas Foundation