Marty Sumichrast lives with his family in Charlotte, North Carolina where he is an active volunteer and contributor to his community, church and certain local charities. “I am fortunate to have a great family. They have been and truly continue to be the pinnacle point of strength in everything I do.” – Marty Sumichrast
Having family and community being his highest priority today, Marty continues to devote time toward several of his children’s school programs, community extracurricular activities and has coached over 25 youth sports teams in football, basketball, baseball, swimming and lacrosse.
Marty has been an entrepreneur since a young age, spending countless summers restoring rental properties in the Washington DC area for a company that his late father, Dr. Michael Sumichrast, owned. He purchased his first rental property at the age of 18 and at 21, together with his father, Marty started Sumichrast Publications. From 1987 until 1992 both father and son published dozens of newsletters focused on the real estate industry. Their first newsletter was in co-publication with the American Bankers Association. Within a relatively short period of time, Sumichrast Publications entered into a lucrative partnership with then Arthur Anderson real estate services group, one of the most renowned real estate and tax advisory firms at the time. Their co-published newsletter called ‘Real Estate Perspectives’ quickly gained national recognition. The Sumichrast Report, which followed, focused on home building and was published in partnership with Hanley Wood Publications, a leading publisher of housing related magazines.
In late 1989, with the fall of the Berlin Wall, Marty and his father found themselves taking part in the transformation of Czechoslovakia from 40 years of communism to democracy. Marty’s father, who had fled his home country in 1948, returned a hero and served as an economic advisor to the Czech government where he quickly became an iconic figure in his country. While his father was advising the government and working on large scale privatization projects (including the $6.6 billion purchase of Skoda automotive by Volkswagen), Marty assisted to finance many new ventures in Czechoslovakia.
Marty received his Bachelor of Science degree from the University of Maryland in 1992. While still achieving his degree, he co-founded USA Builders; a real estate development company that developed a 19 unit subdivision in Prague called Na Visluni. The first of its kind, USA Builders partnered with home building giant Trammell Crow to offer American style homes with wood construction and all American made materials. USA Builders’ model home was chosen by the US Department of Commerce, as the “model home of the year” for Eastern Europe.
In 1993, Marty then co-founded the Czech Fund, which raised money to invest in the privatization process in the new Czech Republic. The Czech Fund, which later became Czech Industries, purchased the hotel Fortuna in Prague which became the first hotel to be flagged under the brand Quality Hotel (Choice Hotels International, Inc.,) in all of Eastern Europe. Marty helped transform the Czech Fund into Global Capital Partners Inc, an international brokerage operation where he expanded to provide services in financing, financial services, and merchant banking activities.
more of martin's personal and professional commentaries can be found on: