With nearly 2 decades of experience in real estate and hailing from a legacy of real estate entrepreneurs, Michael Petramalo serves as president of Targa Real Estate. Based in the Seattle-Tacoma area of Washington State, the family-owned real estate management company is an industry leader specializing in the asset management of multifamily, commercial, self-storage properties, and owner associations in the Pacific Northwest. The firm manages well over 150 properties, 10,000 residential units, two million square feet of commercial space as well as over a million feet of self-storage space, totaling well over $1 billion. Just this year alone, despite the challenges of COVID, Targa has acquired multiple assets averaging nearly $20 million while also expanding its third-party management division over 10 percent.
Founded by his father 35 years ago, Michael joined the family business in 2002 and stepped into the role of president in 2012. Since then, he has more than doubled Targa’s size via word of mouth alone, all thanks to the company’s dedication to great service and excellent products. Today, Michael and his team of 150 serve nearly 100 clients in the Seattle-Tacoma area as well. “Our greatest success really comes down to the stability of our employees and clients” Michael says. And Targa really is a family business. “The fact that we have many employees who have been with us over 30 years, and now have their children working here, is the greatest accomplishment I can point to; the same can be said of our long-term clients who have been with us for decades.” Not only do employees stay with Targa for the long haul, but their clients do, too. In fact, their very first client, who came to them back in 1986, is still with Targa today. “Trust, loyalty, and passion is what it really comes down to, for clients and employees. We cater not only to long-term clients, but long-term employees,” Michael says.
Michael’s success not only comes from the dedication and loyalty to his team and clients, but also from his personal experience with owning and investing in properties. He’s personally invested in over a dozen properties in the past five years. This experience allows him to pass on knowledge of acquisition and repositioning to his clients. Recently, he was chosen to speak on behalf of RealPage, a major software provider in the multifamily industry, on integrating technology into the current marketing climate. But above all, it’s his dedication and sense of family that have helped Targa Real Estate flourish. “I love what I do, and I’m proud to say we have a very trustworthy company that has a great reputation among our clients.”
President — Targa Real Estate