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Bruce D. Savett, Founding Principal

Mr. Savett is founder of Granite Capital Group, Inc and a managing member of Lormac Properties, LLC which has a 100% interest in Lormac GP 1, LLC; the General Partner. He has over 30 years’  experience  in  commercial  property  brokerage,  finance,  property  management  and  syndication. Before founding Granite Capital Group, he was co‐founder of Granite Peak Partners, Inc. (“GPP”) a real estate investment firm located in Santa Barbara California. Associated with GPP for 12  years,  Mr.  Savett  shared  responsibility  for  the  day‐to‐day  operations  including  raising  acquisition capital, strategic planning, property acquisition and disposition, financing, and property management. While Mr. Savett was with GPP, the company grew from $0 to over $250 million in assets.

Before founding Granite Peak Partners, he was the President of IEC Real Estate Corporation (the  operating  arm  of  parent  corporation  Interstate  Equities  Corporation  (“IEC”),  a  real  estate  investment firm located in Northern California. Associated with IEC for four years, Mr. Savett shared  responsibility  for  much  of  the  day‐to‐day  operations  including  raising  acquisition  capital,  strategic planning, property acquisition and disposition, financing, and property management. While Mr. Savett was with IEC, the company grew from less than $40 million to over $250 million in assets, with investment yields to investors in the top ten percent for industry performance.

Before working for IEC, Mr. Savett owned and operated a real estate brokerage, mortgage and  syndication  firm  that  specialized  in  multi‐family  residential  properties.  He  has  personally  brokered over 100 multi‐million‐dollar properties, created and managed real estate syndications comprised of $400 million in holdings, and raised over $125 million in investment capital. Mr. Savett personally initiated and concluded over 30 transactions per annum over many years,  initiating  mortgages  of  over  $100  million  and  managing  a  staff  of  24  to  service  intricate  relationships with high net‐worth private parties, probated estates, and institutional firms/trust companies.

As a Certified Public Accountant, Mr. Savett practiced accounting from 1980 through 1983 with  the  firm  of  Deloitte,  Haskins,  and  Sells  (now  Deloitte  Touche)  and  in  1986  with  the  Santa  Monica firm of Gumbiner, Savett, Friedman and Rose. Mr. Savett is a graduate of California State University at Northridge, where he received a double Bachelor of Science degree in Finance and Accounting, and he also holds his California and Washington Real Estate Brokerage licenses. As a CPA, Mr. Savett has a background in the area of taxation and accounting, providing a foundation for understanding and facilitating major real estate transactions, including 1031 and TIC structures, for buyers and seller alike.

Mr. Savett is married with two children and lives in Santa Barbara, California. He enjoys yoga, backpacking, power and sail boating and gourmet cooking.


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