Henry Shahery: Developer on the Rise
Henry Shahery has been a prominent name in the textile industry since the early 1980’s. He is known to be a serial entrepreneur with bright ideas and an incredible ability to adapt to changing markets, circumstances and demands. In the 1990’s, Henry created a partnership with his close friends in Mexico for the purpose of acquiring and developing properties together. In 2016, after years of splitting his time between his textile business and investing in real estate ventures, Henry turned his full-time focus to real estate. Henry and his partners started their efforts in Mexico. These transactions morphed from investment opportunities between friends to what has now become a major public REIT in Mexico. Today, Henry, along with his Mexican partners, are aggressively looking to pursue real estate development and investment opportunities in the United States.
At the same time as Henry and his partners began investing in Mexico, he also began acquiring and developing numerous properties throughout California, including mini storage, freight logistics, and manufacturing warehouses. Henry also entitled, and then sold, a massive 800,000 square foot project in Downtown Los Angeles referred to as “Figueroa Central”. The project is located on Figueroa and Central, directly across from the recently renamed Crypto.com Arena. Figueroa Central’s construction is currently stalled and is in the middle of a protracted litigation. Henry is actively involved in trying to reacquire this property to ensure that the development is completed and the potential benefits of this project for Downtown Los Angeles are finally realized.
In the next 2-3 years, separate from any efforts relating to Figueroa Central, Henry plans to accumulate 10-15 million square feet of distribution centers in Southern California, before expanding his reach into other states. While the current real estate market is fast-paced and competitive, Henry does not fear a challenge and is primed to soon be one of the biggest names in the industry.