It happened in America in 2021.
Five years ago, under one-party rule in St. Johns County, Florida, where I've lived since November 5, 1999.
On July 20, 2021, our all-Republican St. Johns County Commission approved, by unanimous 5-0 vote, without proper background investigation after a one hour and six minute discussion, a questionable private equity takeover of a local non-profit's lease of valuable riverfront St. Johns County property.
Who did it?
Incurious County Commissioners led by Chair JEREMIAH RAY BLOCKER, Vice Chair ISAAC HENRY DEAN and Commissioners JEB S. SMITH, CHRISTIAN GREGORY WHITEHURST and the late PAUL WALDRON, under influence or guidance of County Administrator HUNTER SINCLAIR CONRAD and County Attorney PATRICK FRANCIS McCORMACK.
They approved a louche lease assignment, for 60 years, allowing takeover of non-profit BAYVIEW skilled nursing facility, with no change in sweetheart lease terms. I am one of the victims, here for physical therapy after a shoulder fracture. Private equity has made BAYVIEW a shadow of its former self, when it was beloved in St. Augustine. Here's the minutes and video of SJC's shallow deliberations.
https://stjohnsclerk.com/2021-sjc-bocc-agendas/#docaccess-42fc45d507e0eb7284fbd67fe16bd15b
One-party ruling St. Johns County Commissioners on July 20, 2021 expressed their fondest wish that private equity would "make a profit," with no expressed concerns about patients or staff.
Wonder why?
Where are they now?
The five injurious Republican Commissioners and two injurious officials responsible for lax injuries about billionaires' private equity takeover of BAYVIEW:
County Commission Chair JEREMIAH RAY BLOCKER was defeated for re-election by reformer Krista Joseph, a Gold Star Mother, by 175 votes. He earned a Master of Laws in Real Estate Development from the University of Miami, is currently serving developers as their mouthpiece, serving former constituents with harassing subpoenas. He is married to a Judge LAUREN BLOCKER, a DeSANTIS appointee to County Court and Circuit Court posts. Blocker is pictured (above) with his wife, Judge LAUREN BLOCKER, with Sheriff Robert Hardwick, et ux.
County Commissioner ISAAC HENRY DEAN, defeated for re-election in 2024 by Ann Taylor DEAN is now a lawyer and lobbyist, working as Of Counsel where one of his fellow lawyers is the father of St. Augustine Beach City Commissioner DYLAN RUMRELL, where former Sheriff DAVID SHOAR is the investigator.
County Commissioner PAUL MICHAEL WALDRON died in October 2022 of complications from COVID-19, after Commissioners cussed and discussed mask requirements. (PAUL WALDRON was the son of longtime Commissioner Harry Waldron.)
County Commissioner CHRISTIAN GREGORY WHITEHURST is currently charged by FDLE and an Alachua County prosecutor with misdemeanor election fraud, involving phony official 2024 SJC GOP ballot endorsements.
County Attorney PATRICK FRANCIS McCORMACK retired in December 2022.
County Administrator HUNTER SINCLAIR CONRAD resigned or was fired, and became a minister of the Gospel in his father's church.
Here's an unsigned hagiography of Messrs. Zanziper and Hyman:
From Business Broadcaster:
Naftali Zanziper and Simcha Hyman: The Dynamic Duo Behind Portopiccolo Group’s Expanding Empire
Few names resonate as powerfully in strategic investments and real estate acquisitions as Naftali Zanziper and Simcha Hyman. As the driving forces behind the Portopiccolo Group, these visionary leaders have orchestrated a remarkable transformation of their company from its initial focus on healthcare services to a diversified powerhouse spanning multiple industries and real estate ventures.
The Portopiccolo Group, headquartered in Englewood Cliffs, New Jersey, has become synonymous with astute investment strategies and hands-on management. Under the guidance of Zanziper and Hyman, the firm has cultivated a reputation for identifying high-potential assets and nurturing them to reach their total market value.
A recent acquisition in Tarpon Springs, Florida, is a prime example of the group’s strategic acumen. The purchase of a substantial multifamily property at 1589 Starlight Drive for $41,570,000 demonstrates their ability to pinpoint lucrative opportunities in competitive markets. With 304 units acquired at approximately $136,743 per unit, this transaction underscores the Portopiccolo Group’s commitment to expanding its real estate portfolio with calculated precision.
Naftali Zanziper and Simcha Hyman’s success extends far beyond individual property acquisitions. Their 980 Investments entity, a cornerstone of the Portopiccolo family of companies, boasts an impressive\ portfolio encompassing over 200 facilities and 22,500 beds across at least 13 states. This extensive network managed through 16 distinct management companies, showcases the duo’s capacity to scale operations while maintaining a high standard of quality and efficiency.
What sets the Portopiccolo Group apart is its hands-on investment approach. Zanziper and Hyman are not content with merely providing financial backing; they actively overhaul operations, invest in facility improvements, and build professional teams from the ground up. This comprehensive strategy ensures that each asset in its portfolio receives the attention and resources necessary to thrive in today’s competitive landscape.
Naftali Zanziper and Simcha Hyman’s financial prowess is nothing short of impressive. With a combined net worth of $1.45 billion, liquidity of $81.9 million, and total assets amounting to $3.42 billion, they bring substantial financial clout to every venture. These figures reflect their success and instill confidence in partners, lenders, and stakeholders involved in their projects.
As the Portopiccolo Group expands, it has attracted top-tier talent to support its growth trajectory. Key figures such as Joseph Neiman, the Chief Financial Officer, and Jean Stiles, the Chief Compliance Officer, bring valuable expertise to the organization. Recent additions to the team, including Rachel Hyman, the Design and Branding Consultant, and Andrew Pagnozzi, the VP of Construction, further enhance the group’s capabilities across various domains.
The investment philosophy championed by Zanziper and Hyman emphasizes realizing the growth potential of all companies within their portfolio. This commitment permeates every firm level, guiding strategic decisions and day-to-day operations. The Portopiccolo Group empowers its portfolio companies to navigate challenges and capitalize on growth opportunities by providing critical resources, dedicated counsel, and ongoing support.
The future appears bright for Naftali Zanziper, Simcha Hyman, and the Portopiccolo Group. Their proven track record of success, coupled with a diverse portfolio spanning healthcare services, real estate, and various other industries, positions them for continued growth and influence in the investment world.
As they forge ahead, industry observers and competitors will watch closely to see what strategic moves the Portopiccolo Group makes next. With their finger on the pulse of market trends and a keen eye for undervalued assets, Zanziper and Hyman are well-equipped to identify and capitalize on emerging opportunities across multiple sectors.
In an ever-evolving business landscape, the Portopiccolo Group stands as a testament to the power of visionary leadership, strategic diversification, and hands-on management. As Naftali Zanziper and Simcha Hyman continue to guide their organization to new heights, they are not just building a business empire but reshaping industries and setting new standards for investment excellence.
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