MIAMI, FL - Former Major League Baseball star and future hall of famer Derek Jeter got all the headlines when the Miami Marlins were sold to his group, but an Indian American real estate executive is part of the ownership group as well. Punit Shah, the chief executive officer of Tampa, Fl-based Liberty Group, a company founded by his father more than 30 years ago, is a minority owner of the Marlins. Naples financier Bruce Sherman owns the...
highest equity stake in the team at 46 percent, while Jeter owns about 4 percent, according to reports. Shah didn’t disclose the percentage of the club he owns.
The sale, which closed Oct. 4, went for $1.2 billion.
The Indian American said that, while he knew his athletic ability wouldn’t put him into the field of professional sports, he knew from a business perspective he could get there. Jeter, who is serving as the team’s CEO, has the leadership to improve the overall operations of the club, stadium and value to the community.
Shah, told reporters that Jeter “has purposely built the ownership group to help increase the awareness of the team and give the city of Miami the game-time experience the fans deserve.”
As CEO of Liberty Group, Shah has overall executive control of the investment and management divisions of the company and serves as the sole general partner of Liberty’s private equity funds. Liberty Group has owned and managed over $425 million in commercial real estate, including multi-family developments, senior living facilities, and 54 hotels representing more than 4,800 guest rooms affiliated primarily with Intercontinental, Starwood, Marriott and Hilton Hotels throughout the United States.
Liberty Group has also raised two private equity real estate funds, Liberty Hospitality Fund I & II, with over $250 million in combined debt and equity capital. Shah’s professional honors include receiving the Florida’s Governor’s Enterprise Award, the Tampa Business Journal “Under 30” Award, Florida Business Review “Under 40” and Entrepreneur of the Year awards, having been named as ‘25 People to Watch in Florida’, Boston University Alumni of the Year Award and serving on the Global Board of Directors of the Intercontinental Hotels Group Owner’s Association. A second-generation hotelier, Shah is a graduate of the Boston University School of Hospitality where he now serves as an advisory board member and established the Punit & Carla Shah Family Scholarship. Additionally, Shah is a graduate of the Harvard University Economics Honors Program, and Political Science and Executive Real Estate Development and Leadership programs at Cornell University and Emory University.
The sale, which closed Oct. 4, went for $1.2 billion.
The Indian American said that, while he knew his athletic ability wouldn’t put him into the field of professional sports, he knew from a business perspective he could get there. Jeter, who is serving as the team’s CEO, has the leadership to improve the overall operations of the club, stadium and value to the community.
Shah, told reporters that Jeter “has purposely built the ownership group to help increase the awareness of the team and give the city of Miami the game-time experience the fans deserve.”
As CEO of Liberty Group, Shah has overall executive control of the investment and management divisions of the company and serves as the sole general partner of Liberty’s private equity funds. Liberty Group has owned and managed over $425 million in commercial real estate, including multi-family developments, senior living facilities, and 54 hotels representing more than 4,800 guest rooms affiliated primarily with Intercontinental, Starwood, Marriott and Hilton Hotels throughout the United States.
Liberty Group has also raised two private equity real estate funds, Liberty Hospitality Fund I & II, with over $250 million in combined debt and equity capital. Shah’s professional honors include receiving the Florida’s Governor’s Enterprise Award, the Tampa Business Journal “Under 30” Award, Florida Business Review “Under 40” and Entrepreneur of the Year awards, having been named as ‘25 People to Watch in Florida’, Boston University Alumni of the Year Award and serving on the Global Board of Directors of the Intercontinental Hotels Group Owner’s Association. A second-generation hotelier, Shah is a graduate of the Boston University School of Hospitality where he now serves as an advisory board member and established the Punit & Carla Shah Family Scholarship. Additionally, Shah is a graduate of the Harvard University Economics Honors Program, and Political Science and Executive Real Estate Development and Leadership programs at Cornell University and Emory University.
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