Jawad Joe Foty, CCIM
As a Certified Commercial Investment Member (CCIM), Joe Foty is one of six percent of the more than 150,000 commercial real estate professionals in the United States who hold this designation. Considered commercial real estate’s global standard for professional achievement, CCIMs are responsible for an approximate $400 billion annually of real estate transactions globally. Joe is a recognized authority in the disciplines of commercial and investment real estate and an awarding-winning commercial real estate broker. As president and founder of Houston-based Prospect Commercial, a full-service commercial real estate investment, development, and brokerage company, he exemplifies exactly why he is one of the distinct few.
Joe seeks well-positioned, distressed and underutilized properties in Houston’s Class C submarkets, with the goal of improving these assets by remodeling and renovating them to maximize values. With projects ranging from retail shopping centers to multi-family properties, he is a unique combination of both real estate investment and brokerage expert whose boundless passion for his work serve as the driving force behind his success. “I enjoy the process. My career is my hobby, so I don’t mind putting in the time and effort, while patiently awaiting the results”, he shares.
In 2019, he completed the revitalization of a 7,000-square-foot retail shopping center in Houston’s Northline Submarket, now anchored by PLS Check Cashers. Joe purchased the property and completely remodeled the building. He retained the two existing tenants while adding two new tenants at market rents. As a result, he was able to increase the property value by more than $1 million. He recently acquired a 64-unit apartment complex in a very densely populated opportunity zone in Southwest Houston. “The plan is to improve the property and create a better living environment for the families that have called this place home for years. Upgrading the amenities is definitely a priority.” Joe explains. In 2020, he’s purchased a total of nearly 80,000-square-feet of retail and multi-family properties in the Greater Houston Area.
Joe’s dedication and persistence is the pathway to finding these value-add properties. This perfectly illustrates why he is the recipient of multiple CoStar Power Broker awards. He has brokered more than $70 million worth of real estate transactions since founding Prospect Commercial in 2017. “While I enjoy my career as a broker, I have always had the long-term vision of being an investor. As a hybrid, I’m able to apply my experiences that have transpired as an investor in helping my core group of clients achieve the financial freedom they seek”, he explains.
Joe graduated with a bachelor’s degree from the University of Houston and is a licensed real estate broker with the Texas Real Estate Commission.
Prospect Commercial
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Download the magazine and see Joe's feature on page 64.