CHARLES ROTGIN, JR.
President and CEO of Great Eastern Management Company
Assessed value: $120 million
Acres: 402
Notable holdings: Much of North Pointe, Pantops Shopping Center (the one with Food Lion), Solomon Court and Pineridge.
A 1966 graduate of UVA, Charles “Chuck” Rotgin, Jr. began his real estate development, construction and management career in 1971 with the creation of Great Eastern Management Company. Although he says all of his holdings are crown jewels, one shines brighter than the rest. “In terms of the long-term potential and I mean, really long-term potential, it would be North Pointe,” he says.
Contrary to popular belief, landowners do not sell properties fast and often, he says. “The amount of time, effort, money and perhaps even more important, frustration that goes into securing the myriad of government approvals today, it suggests to us that you ought to maintain it,” says Rotgin.
First property bought: “There were two apartment buildings; one was at 64 University Way. That was 1967-1968, and coupled with that there was a 12-unit apartment building on 17th Street,” he says.
Lesson to those interested in entering the market: “I think you have to be patient, you have to be perceptive, and in today’s environment, you must have a lot of capital.”
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