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THE DEALMAKER
Michael Mugel, discussing his investments, sounds like an infomercial pitchman.
You can imagine him saying: "Here's how I made millions in real estate-and you can, too."
Only mimicking Mugel may not be easy. By his own assertion and those of former coworkers, Mugel has an uncommon knack for deal making.
In five years, Mugel has turned $45 million worth of shopping centers into $550 million, he said. That's growth of 1,122% since he founded Santa Ana-based Red Mountain Retail Group Inc. in 1999.
"I have known Mike for about 10 years," said Reza Etedali, who heads retail brokerage Reza Investment Group Inc. in Irvine. "He's one of the sharpest buyers I have met."
Etedali and Mugel were retail brokers at Irvine's Sperry Van Ness before leaving to start their own companies.
"Drive around nowadays and you see Red Mountain signs on freeways in different places," Etedali said.
But just a few real estate brokers and investors know about Mugel and Red Mountain.
He's shunned media interviews and even omitted his company's name in its own advertisements, running a drawing of a red mountain and a phone number. Red Mountain doesn't have a Web site.
The company is based in a strip mall Mugel owns near the corner of Santa Ana's 17th Street and Grand Avenue. Nearby is a Popeyes Chicken & Biscuits.
"We own this property so we pay no rent," Mugel said of his headquarters. "We're not out to create a false image."
Red Mountain manages and leases shopping centers, which are owned by investment partnerships. Mugel said he typically owns 50%...