Reno, Nevada (September 19, 2016) – The Economic Development Authority of Western Nevada (EDAWN) announced today that Capstak, Inc., a web-based market network for commercial real estate, has chosen Reno, Nevada for its corporate headquarters. In addition to building its employee base in Reno, Capstak has launched its pilot product locally. The company will begin expanding its services nationally in 2017.
Co-founded by 20+ year industry-veterans Michael Schnabel and Heather Goldman, Capstak provides an online meeting place for commercial real estate professionals to find deals, source capital, and identify business partners and commercial real estate service providers.
“The commercial real estate deal market is massively inefficient, time consuming and costly, especially outside of the primary US markets,” said Michael Schnabel, CEO and Co-founder of Capstak. “This difficulty in sourcing good debt and equity partners has, in the past, kept me from investing. Capstak is providing important, profitable commercial solutions for my business.”
“Reno quickly became the obvious location for us to headquarter, and as our core technology development test market,” said Heather Goldman, Capstak Co-founder and President. “There is a great deal of support and opportunity for startups here. We also benefit from the great university system. UNR has provided us with world-class space at the Innevation Center and a qualified pool of graduates.”
“We are extremely excited to have Capstak relocate to Reno and bring with it high value jobs paying top salaries and benefits,” said Hillary Schieve, Mayor of the City of Reno. “The Biggest Little City looks forward to supporting Capstak’s addition of 25 jobs in the first year and their future ambitions to bring over 100 jobs to our local economy.”
“We are excited about the decision by Capstak to grow their company here in Reno, with top executives relocating from the Bay Area and the East Coast,” said Mike Kazmierski, president and CEO of EDAWN. “Finding a better way to connect the commercial real estate community to facilitate transactions has been needed for some time, so we expect this platform to be quickly embraced by the industry.”
Capstak enables the $14 trillion commercial real estate industry by providing a market network for commercial real estate professionals to make actionable decisions based on real-time knowledge of market activities. Capstak is driven by the Community to help industry professionals do more deals, identify capital, and source business partners and service providers. The company is headquartered in Reno, Nevada.
The Economic Development Authority of Western Nevada is a private/ public partnership established in 1983 committed to adding quality jobs to the region by recruiting new companies, supporting the success of existing companies, and assisting newly forming companies, to diversify the economy and have a positive impact on the quality of life in Greater Reno-Sparks.
Capstak, Head of Community
EDAWN, Associate Business Development