MetaProp, a real estate venture firm, has named Mitchell N. Schear as a ventures adviser to the firm’s fund business. Schear was former president of Vornado/Charles E. Smith, the Washington, D.C. division of Vornado Realty Trust.
New York, NY — Tuesday Nov. 7, 2018 — MetaProp, the real estate venture capital firm, announced today that Mitchell N. Schear, a leading real estate and REIT executive has been named Ventures Advisor to the firm’s fund business.
“Mitchell is widely respected for his extensive real estate expertise and leadership,” said Aaron Block, Co-Founder and Managing Director, MetaProp. “In addition, he’s one of only a handful of real estate executives to have pioneered the use of tech and innovation before it was fashionable. Mitchell has been a regular supporter of our PropTech community for a long time. In fact, MetaProp portfolio company founders are already taking advantage of his incredible firepower to help grow their startups.”
Mr. Schear brings more than 35 years of experience in commercial real estate to MetaProp. He ran two of Washington’s most influential real estate companies, owning and developing some of the most iconic office and residential projects in Washington DC. Today, he has turned his focus to the dynamic intersection of the burgeoning creative/tech sector and traditional brick and mortar. He is advising and investing in a number of rising companies and venture capital funds that are working together to disrupt long-standing real estate paradigms and strategies.
From 2003 until 2017, Mr. Schear was President of Vornado/Charles E. Smith, the DC division of Vornado Realty Trust, a $30 billion real estate investment trust. In that role, he directed the strategy, performance and growth of Vornado’s extensive 20+ million square foot portfolio in the Washington DC region. In Crystal City (where his company owned more than eight million sq. ft.), his forward-thinking, placemaking vision transformed the neighborhood into a vibrant, creative community that became home to a growing innovation hub and superior restaurants/retail concepts.
Currently, Mitchell serves as a board member for JBG SMITH, a successor company and the largest real estate company in the Washington metropolitan area. Prior to joining Vornado in April 2003, Mr. Schear spent 15 years at The Kaempfer Company, where as President he oversaw all the company’s development, leasing, and management activities.
He is also involved in a variety of organizations and charities, including Higher Achievement, where he has rallied the real estate and business community to raise more than $1 million annually for the organization, which is dedicated to helping at-risk middle-school community excel and succeed. In 2016, Mr. Schear was honored by Higher Achievement for his extraordinary leadership and commitment. In addition, in 2015, he was honored by Transwestern as the Public Company Trendsetter of the Year in recognition of his legacy of innovation, quality and many contributions to the Washington community. In 2007, Mitchell was recognized by the District of Columbia Building Industry Association (DCBIA) with its highest honor, the Achievement Award.
MetaProp is the world’s leading early-stage PropTech investment, advisory, and startup acceleration firm. MetaProp’s team and venture capital funds have invested in 90+ technology companies across the real estate value chain. Currently investing out of its second fund, MetaProp’s investor base represents a pilot- and test-ready sandbox of 15+ billion square feet across every real estate asset type and global market. The firm’s investment activities are complemented by a continuum of “MetaProp Accelerator at Columbia University” cohorts. Each year, up to 30 of the best real estate industry ideas are selected to participate in intensive education, mentorship and growth hacking programs, culminating in exclusive graduation defense panels, roadshows and demo days for partners, investors, VCs, and media. Founded in 2015, the accelerator boasts 100+ mentors, 10 renowned corporate partners and widespread media coverage from the Wall Street Journal, Forbes, Crain’s New York Business, New York Post, TechCrunch, Inman, Bisnow, Real Estate Weekly and more. MetaProp’s advisory consulting arm provides strategic advice, corporate development and venture consulting, growth consulting, communications, event management and market research for real estate companies that are serious about innovation. In addition, MetaProp produces NYC Real Estate Tech Week, The MetaPropCast podcasts, and the Global PropTech Confidence Index.