Michael Rasser - Commercial Real Estate Developer and Co-founder of Cornerston Equity, LLC.

Michael Rasser

  • Born in New Jersey, moved to Colorado when he was five.
  • Created Cornerstone Equity, a holding company, around 2004. “We went about buying real estate that needed to be redeveloped.”
  • The company looks to buy properties that need help or in deals that are so squirrely that no one can figure it out. Became a trouble-shooting real estate firm for banks dealing with controversial commercial properties.
  • Personal info: Married with a boy and a girl in their 20s. A “motorcycle guy” his entire life, rides a Harley, has been to Sturgis seven or eight times. Was on the alpine rescue team in Evergreen for several years, was very involved at one time in rock and ice climbing. Now he’s an avid cyclist.

Insights on the Colorado Real Estate Market

  • Michael Rasser describes the Colorado real estate market as coming out of the recession with a vengeance, several years ago, as it dealt with pent-up demand. Says real estate values are currently a bit inflated, and expects demand to level off, but also anticipates properties to gain in value.

Cornerstone Equity LLC

In general terms Cornerstone Equity and our affiliated companies, are real estate re-developers specializing in small to medium sized commercial properties, said Michael Rasser, co-founder and commercial real estate developer in Colorado. Our Company has acquired property in the Original Downtown Aurora Arts District since 2000 and currently holds a portfolio of commercial properties. We relocated our corporate offices from the Cherry Creek Area to 1440 Iola St. #B, Aurora, CO 80010, in order to be involved with, and part of, the growth in the Original Downtown Aurora Arts District. Our principals, Doug Adams and Michael Rasser, have over 35 years of combined experience in real estate and construction. They have proven their ability to locate property that is subject to redevelopment at good price points and creating additional value through redevelopment.

We are able to do so by working closely with our business partner Construction Management Associates, Inc (CMA) on many of our projects. CMA has the contacts, skill and experience to bring projects in on time and within the allotted budget. They are prepared to interface with the city planning and building departments and manage the entire construction phase.

Cornerstone and CMA have completed projects throughout the Denver metro area and even in neighboring states but focuses on the Original Downtown Aurora Arts District. Our strategy dictates that we only get involved in properties that can be purchased and re-developed and maintain a 50% loan to value ratio. All portfolio properties must also have at least modest positive cash flow.

Cornerstone Equity Principal Doug Adams was an active participant in the creation of the Original Downtown Aurora Art’s District in 2000. Since that time, we recognized the strategic significance of this area due to the re-development of Fitzsimons Medical Center, Stapleton and Lowry Air Force Base. This triangle of development surrounds the Original Downtown Aurora Art’s district and has led to significant increase in property values in this area for more than a decade.

Cornerstone Equity is very well known throughout the Aurora city government. We are the main small developer in this area. We work closely with all the Community Development Divisions along with city officials in the identification of strategic properties and are quite often asked by these officials in an attempt to purchase a specific property so that it may be properly re-developed. Quite often our city contacts bring perspective tenants to us so that a property may be developed for us; specific to the tenants needs.

The majority of our emphasis has been to acquire properties in this specific area while the opportunity exists. We feel very strongly that the Original Downtown Aurora Art’s district is a perfect area to concentrate our efforts and our resources, and that its resurgence will mimic that which has taken place in other parts of the metro area.

Contact Michael Rasser

Michael E. Rasser
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Cornerstone Equity, LLC
1440 Iola St #B
Aurora, Co. 80010
Phone 303-756-5626
Fax 303-691-5637