Alex Shnaider

Alexander Shnaider
Born 1968
Leningrad, Russian SFSR, USSR
Occupation Co-founder of the Midland Group

Alex Shnaider (born 1968[1]) is a Russian-born Canadian entrepreneur and former commodities trader. He is co-founder with Eduard Shifrin of the Midland Group.

Early life

Shnaider moved with his family to Israel when he was four, and then to Canada when he was 13. He was educated at York University in Toronto.[2]

Midland Group

In 1994 Shnaider co-founded Midland Group - originally a steel producer - with former business partner Eduard Shifrin. The company operated in Ukraine before government-owned steel factories were privatised. In 1999 Midland Resources began buying shares in the Zaporizhstal steel mill. By 2001, Shnaider’s consortium had bought 93 per cent of the mill for $70 million.

Sports investments

Shnaider bought Jordan Grand Prix from Eddie Jordan in February 2005 for approximately US$50 million, and renamed it Midland F1 Racing for the 2006 Formula One season. On 9 September 2006, the team was sold to Spyker Cars.[3]

In December 2007 Shnaider bought Israeli soccer team Maccabi Tel Aviv for an estimated 12 million euros.[4] On 4 August 2009, Shnaider sold the club to Canadian property developer Mitchell Goldhar, after investing $20 million in the club.[5] Goldhar took on Shnaider’s 80 per cent stake in the club by agreeing to take on its financial commitments; he also paid $750,000 to the Maccabi Tel Aviv sports foundation for its 20 per cent stake.

Real estate

Shnaider partnered with Donald Trump in the construction of the Trump International Hotel and Tower, which is in Toronto. Donald Trump is a minority shareholder in the project. Shnaider has reportedly decided to keep the penthouse suite for himself, at an estimated value of $20 million.[1]

In March 2010, Shnaider invested in a property consortium that bought Toronto's King Edward Hotel for $50 million. The asset was purchased in a distressed sale from Lehman Brothers.[6] Shnaider originally invested alongside three other real estate companies, Skyline International Development Inc., Dundee KE Inc., and Serruya Realty Group Inc. However, on 1 August 2012 Omni Hotel and Resorts CEO James D. Caldwell also took a stake in the hotel; and on 24 November 2015, Omni Hotels and Resorts announced that it had bought the other parties out and fully owned the hotel.[7]

In 2011 Shnaider formed a Delton Retail fund, a property group, with N3 Real Estate, owned by dutch businessman A.D.G van Dam.[8]

On 30 December 2015 Shnaider invested NIS 39 million in Mishorim Development Ltd., a real estate company controlled by developer Gil Blutrich.[9] Shnaider had already invested alongside Blutrich in the King Edward Hotel, which Blutrich invested in via Skyline International Development Inc., a Mishorim subsidiary.

Personal life

Shnaider is married to Simona Shnaider (née Birshtein).[10]

References

  1. 1 2 Toronto Star, 11 August 2007
  2. ↑ "Man of Steel". Forbes. 2005-03-28. Retrieved 2016-01-11.
  3. ↑ "Midland sells MF1 Racing to Spyker". Archived from the original on 26 April 2007. Retrieved 2007-06-04.
  4. ↑ "Alex Shnaider, a Russian-born Canadian businessman, has bought Israeli soccer club Maccabi Tel Aviv.". The Toronto Star. 2007-12-19. ISSN 0319-0781. Retrieved 2016-01-11.
  5. ↑ "Local Soccer: New Maccabi TA owneron his way from Toronto - Sports - Jerusalem Post". www.jpost.com. Retrieved 2016-01-11.
  6. ↑ "New condos for the King (King Edward Hotel, that is)". The Globe and Mail. Retrieved 2016-01-11.
  7. ↑ "Toronto's King Edward Hotel Sold to Omni Hotels". www.hotelnewsresource.com. Retrieved 2016-01-11.
  8. ↑ "N3 Forms $200M Fund". nreionline.com. Retrieved 2016-01-11.
  9. ↑ "Alex Shnaider buys 21% stake in Mishorim - Globes English". Globes. Retrieved 2016-01-11.
  10. ↑ "THE INVISIBLE MAN". The Globe and Mail. Retrieved 2016-01-11.

External links

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