Michael Gortenburg of Kansas City, MO is a founding Principal of Eighteen Capital Group (18CG) and owner of more than 100 investment entities – a diverse portfolio focusing primarily on multifamily housing units. In addition to overseeing all corporate and individual property functions for 18CG, Michael is involved in a number of other operational businesses, such as digital media and software companies.
At 18CG, two governing principles form the cornerstone of the company’s growth and success: advancing the interests of all stakeholders – employees, capital partners and clients; and ensuring that properties benefit from constant support and improvement. It is a priority for Michael that 18CG housing units are the most appealing and of the highest quality in any particular submarket.
Michael is the grandson of Russian immigrants. Born and raised in Kansas City, MO, he attended Southwest High School, where he graduated in 1970. Michael knew from an early age that he wanted to be an entrepreneur. Despite attending three universities –Coe College, Kansas University, and Boston University– he opted out of academic pursuits and instead started his first business venture, a Volkswagon repair shop, at age 21. Despite knowing almost nothing about auto repair, Michael learned the business from the ground up and later joined the family business, East Side Auto Parts, where he worked for 11 years overseeing general operations at seven locations. Not surprisingly, Michael is a car enthusiast.
At age 36, Michael began buying and flipping residential properties. Having discovered a hidden talent for real estate, he decided to go into the apartment building and management business–buying them, and then repositioning them through renovation and better management. Along with his business partner, Scott Asner, Michael leads a core team of 25 employees from 18CG’s corporate headquarters in Leawood, Kansas, where he owns and oversees the management of more than 7,000 apartment units at 34 properties in 15 states. He is along-term holder of most of these apartment communities.
The business model at 18CG is guided by a strategy that is opportunity-driven, but risk averse. The majority of properties benefit from substantial added value components, such as integrating cutting-edge green technologies into the daily living experience of residents. “Green-retrofit” utility expense reduction and other efficiencies are core elements of the 18CG experience.
Michael Gortenburg cares about the community where he lives and works. As a dedicated disciple of the Jewish concept of Tikkun Olam –“repair of the world” – he actively supports more than a dozen charitable organizations, both locally and across the country.
Michael is married with two children and one young grandchild. He is an exercise enthusiast, an avid reader of mystery novels, and likes to travel and explore whenever possible. In the past two years, Michael has traveled to Israel, Cuba, Mexico, Canada, Croatia, Greece, Italy and Montenegro.