Mile High Capital Group, Ltd. (MHCG), a Denver, Colorado-based real estate developer, has announced Andrew McFaul as the company’s new CEO
DENVER—July 13, 2005—Mile High Capital Group, Ltd. (MHCG), a Denver, Colorado-based real estate developer, has announced Andrew McFaul as the company’s new CEO. This announcement accompanies the sale of the company by former owner and CEO Rick Dryer to McFaul, the former COO. The sale took place July 1, 2005.
“As our reputation, size, and operations grew from greater exposure in the marketplace, repeat business and word of mouth, I knew that the company had outgrown my skill set,” says former CEO Dryer. “Andrew McFaul was a godsend. I knew the company would be in good hands.”
Andrew McFaul has an impressive track record of exponentially growing and then operating large businesses successfully. At the age of 15, he started a pallet-recycling company, steadily building its customer base by passing on savings from his innovative production methods. In order to service larger regional and national customer accounts, McFaul started acquiring other pallet companies, eventually owning dozens of facilities and employing 6,000 people. As his shipping needs increased, he formed a trucking company, McFaul Transport Inc. To facilitate merging with other national pallet companies, McFaul and his partners did a “roll up” of the various entities into a new company, Palex, with annual revenues of over $1 billion. In 1997 Palex became a public company, and after a one-year transition period, McFaul was able to retire at the age of 33.
Before joining MHCG in 2004, Andrew McFaul spent his early retirement refurbishing high-end luxury mountain homes, but soon found a desire to return to the business world.
“I learned of Mile High Capital Group through friends who had followed the company’s strategies with great success,” says McFaul. “But after speaking with Rick and learning more about the company’s strategies, I realized I didn’t want to just buy rental properties. I wanted to run this business model that was so perfect.”
McFaul says he plans to run the company on the same track that built its base, only on a larger scale.
About Mile High Capital Group, Ltd.
Founded 12 years ago as a builder and developer of single-family attached homes, MHCG develops subdivisions around the country in areas it has identified as possible high-growth areas with a rental need, and sells its products usually to non-owner-occupied purchasers. Its products are a variety of single-family attached or small detached homes, usually with oversized garages and a specific range of renter-attracting amenities. MHCG’s management has over 100 years combined experience building and developing homes, and markets a complete program to include: project infrastructure, single-family attached homes, landscaping, and all property upgrades.
Media Contacts:
Jeff Keiffer
Mile High Capital Group
303-468-5814
or
Bryan Hill
Performance Marketing
303-468-5480
Cell: 303-519-3614
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