Director of Mirus Resort Capital
Mike Krongel joined Mirus in 2010 to head up Mirus Resort Capital, focusing on mergers, acquisitions, leveraged buy-outs and financings for operating resorts and middle market companies in the travel and recreation industry.
With over 30 years experience in the acquisition, disposition and development of resort properties and multifamily residential, Mike brings to Mirus a unique understanding of resort operations and resort development. Mike has been engaged by resort developers, lenders and business owners assisting in matters of financing, asset monetization, sales and marketing, joint venture creation, and repositioning strategy as well as real estate planning & permitting.
Krongel was a senior executive with American Skiing Company, of Park City, Utah. He was the lead corporate officer focused upon business acquisition and disposition for ASC. Responsibilities included the identification of business lines and operating companies to acquire or sell, the creation of joint venture real estate development partnerships, the sale of development parcels to third party developers, land and fractional ownership development and sales.
Krongel played a significant role in creating cash flow for ASC by disposing of such varied non-strategic enterprises as a Florida golf course, a dinner/excursion train, a fleet of busses, a time and attendance software program, snowmaking patents, a Colorado shopping center, retail operations, retail condominium units and a million dollar single family home in Denver.
Krongel was a key member of the resort real estate development team at ASC. His experience includes initiating and closing the purchase of four major ski resorts, and golf resorts which formed American Skiing Company. Additionally, Krongel was key in implementing the real estate planning & permitting process throughout the Company, and creating joint venture development partnerships to facilitate the development of the planned real estate projects. Other involvement with real estate projects include planning and permitting for single family home subdivisions.
Prior to joining what became ASC, and since leaving ASC, Krongel focused on acquiring, rehabilitating, repositioning and disposing of multi-family properties throughout New England and Florida. Krongel negotiated the sale of a $94 million multi family portfolio in Boston and acquired just under 900 apartment units for an investment partnership. Historically, the portfolios of assets worked on include residential units, strip centers and office buildings. In addition to acquiring, managing and disposing of these real estate portfolios, Krongel has been a consultant to many of the largest banks and insurance companies in North America, assisting institutions with the disposition of non and under performing assets. This work resulted in the securitization of over $2 billion in assets over a three year period.
Krongel graduated Ithaca College with a Bachelor degree in Business Administration, completed MBA courses at Northeastern University, and attends continuing education courses in several states to maintain his professional standing as a real estate broker. Michael actively participates in real estate related conferences, golf seminars and ski industry conferences across America. He is an active fund raiser on behalf of cancer research. Krongel is married and resides in Newton, Massachusetts.