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Building Gems

REDICO puts its focus on
senior housing, philanthropy
and opportunity.

mazel
tov!

By Maureen McDonald

Karen Sosnick Schoenberg at the Fisher Building.

R

EDICO, one of the biggest
names in Southeast Michigan
commercial real estate, is
focusing its attention on
senior living communities and urban
office buildings as it begins its sixth
decade of operations. The firm main-
tains a commitment to philanthropy,
including a number of Jewish organiza-
tions.
“We continue to identify opportuni-
ties and capitalize on them, employing
our skill set with innovation, integ-
rity and ethics,” says Karen Sosnick
Schoenberg, principal and member of
the board at REDICO. The Southfield-
based firm employs 194 people and was
founded 50 years ago by her father, the
late Robert Sosnick.
With census data showing that the
number of senior citizens will grow
from 46 million today to 98 million in
2060, REDICO is investing heavily in
Michigan-based American House Senior
Living Communities. Using strategic
real estate skills, REDICO has helped
expand American House to more than
50 communities in the Midwest and
Florida, staffed by nearly 2,000
employees. American House, founded by
the Gillette family, uses their expertise
to care compassionately for the
community’s aging population.
“We have consistently set high expec-
tations for ourselves over the course of
five decades, making REDICO a valued
and skilled partner,” Schoenberg says.
REDICO has a long history of enhanc-
ing Detroit real estate. They have par-
ticipated in the development or acquisi-

tion of the Compuware Building, the
Ernst & Young building (One Kennedy
Square), Orchestra Place, Gateway
Marketplace and 150 W. Jefferson, just
to name a few. The firm helped pur-
chase the historic Fisher and Albert
Kahn buildings from auction in 2015,
and currently works to maintain and
manage the properties.
With experience in the development,
acquisition and management of a
variety of asset classes, including office,
retail, mixed-use, medical, multifamily,
industrial and hospitality, REDICO
currently has a national portfolio of
nearly $2 billion in value.
At the same time, REDICO’s focus
on philanthropy remains as strong
as it did when its founder was alive.
Robert Sosnick helped create the Robert
Sosnick Family Life Center at Temple
Israel, which has touched the lives of
more than 90,000 people since it began.
“His vision was to create a Family Life
Center where our members could turn
for resource and referral help, as well
as short-term intervention,” says Kari
Provizer, director of the center.
Sosnick was the founding co-chair of
the Jewish Fund, a grant making organi-
zation currently chaired by Schoenberg.
The Jewish Fund focuses on health and
social welfare issues in our community.
She also sits on the boards of the Jewish
Federation, United Jewish Foundation,
Community Foundation of Southeast
Michigan and City Year Detroit.
Additionally, some of the organiza-
tions receiving financial support from
REDICO are Gleaners Community
Food Bank, Forgotten Harvest, Henry
Ford Health Systems, City Year Detroit,
Beaumont Foundation, Detroit Institute
of Arts and Starfish Family Services.
“The health and welfare of our
community was something my father
worked tirelessly to support. That
mission continues to this day and
beyond. It is a proud legacy,”
Schoenberg says. Y

c o n gr a t u l a t i o n s

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jewish
news

on

75
years

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education and

impact

w e salut e your vision

and leadership

REDICO

One Towne Square, #1600
Southfield, Michigan
(248) 827-1700
www.redico.com

jn

July 18 • 2017

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