Joe Mertes received an undergraduate BS degree in Political Science from Belmont Abbey College and a Master of Business Administration Degree from Wake Forest University. He began his career in private equity, building a venture capital firm that specialized in the analysis, structure and acquisition of various business entities. Capital formation, strategic business planning and control functions were key areas of responsibility. From venture capital Joe moved into working with troubled businesses through the restructure of balance sheets and capital formation. In each of these ventures he derived strategic plans based on an understanding of the development of various markets.
In 1987 Joe concentrated on investing, trading techniques and money management. Over the last twenty years he has managed significant accounts for investors, and consulted with notable funds. Currently he is responsible for the training and education of individual investors globally. Joe has assisted traders, investors and institutions on the importance of establishing a business approach to the trading arena. He is currently chief investment officer of a small hedge fund, consultant, educator and author.
Joe is a managing partner of Joseph James and a partner in Growsmart Capital.
The Village Shops on Main Street, Blowing Rock NC
The Shops at Banner Elk, NC
One of the most successful ventures structured by Joe Mertes was the Village Shops on Main Street in Blowing Rock NC. With the acquisition of a rundown house in the center of the commercial district, a plan was structured for capital formation, donating the house to the Historical Society and the construction and development of a commercial condominium building providing 5 spaces for additional businesses in the highly commercial district.
Asbestos was removed from the house before any work was accomplished. Once the asbestos was removed, the house was moved to a residential lot on US 221 just outside of Blowing Rock. The company received an immediate tax credit for the donation to the Historical Society. In a period of about six months the new structure was completed with the front facing Main Street having the same outer design as the house that was moved. Public bathrooms were installed, thus enhancing the development and enhancing shopping in downtown Blowing Rock for residents and tourists.
Within a year off the acquisition of the property, all the commercial condominiums were sold.
In 1990 Joe Mertes began acquiring key parcels of land in downtown Banner Elk. Prior to this, there was not a significant area for shopping and dining. Over a period of three years enough contingent land was acquired. Approvals from the Town were secured and construction began on a series of four buildings that housed multiple commercial, retail and restaurant businesses.
Each shop was sold as a condominium, providing for a coffee shop, upscale men’s clothing store, woman’s clothing store, a lingerie shop, an upscale restaurant, architect office, Edward Jones office, antique store, a restaurant and grill, a gift shop and a furniture accessory store. The development that was well planned, financed and constructed made a major commercial impact for the Town of Banner Elk and the tourist business the Town thrives on.
The Timber Cabins
The Timber Lodge
The Cottages
Located just behind the Timber Lodge was a development of seven cabins that overlook the Lodge and have access to the Blue Ridge Parkway. Joe Mertes, along with a group of investors acquired the cabins, thus providing an economy of scale for the management of the two properties. The cabins were eventually sold individually to people desiring a vacation cabin in the mountains of North Carolina.
Just outside of Blowing Rock is a small hotel located off US 321. The hotel included a pond and quick access to the Blue Ridge Parkway. Renovations were made to upgrade the value and performance of the property. The entity formed by Joe Mertes owned and operated the hotel for a period of approximately three years.
Next to one of the most sought after residential developments in Blowing Rock was an eight acre tract of land with lush vegetation, close to the Blue Ridge Parkway that offered a tremendous opportunity for residential development. A private partnership was formed and the land acquired. Approvals from the Town of Blowing Rock were received to move forward with the construction of a new street, utilities, the subdivision of the lots and construction of several homes. While Joseph James LLC developed several speculation homes, other lots were sold to individuals wishing to construct vacation or permanent homes in the Blowing Rock area.
The Green Park Inn
Lagniappe Inns
The Green Park Inn is one of the most important historic buildings in the Appalachian Mountain chain and Blowing Rock area. After undergoing major renovations, Joe Mertes formed an investment partnership that acquired the grand hotel.
This partnership’s first action was to place the property on the historical register. Next, the partnership created a first class atmosphere and culture for the hotel by opening a five star restaurant and high end lounge and bar. An agreement with Blowing Rock Country Club allowed guests of the hotel use of the golf course. After two years of operations, the one-hundred-year-old property was sold to another individual and is still in existence today.
Joe Mertes was employed by a major hotel chain to help in the acquisition and restructuring of a hotel company located in the Midwest. The company was composed of fourteen hotels that were either under construction or in operation around the country. Each hotel was an all-suite hotel and included a bar and restaurant. The company was in financial trouble. There were over 132 creditors and limited partnerships involved. Working with a law firm from Nashville TN, Joe Mertes negotiated a settlement for all creditors outside of the bankruptcy court, financially restructured each hotel, completed construction of the hotels and eventually took over management of the company until the acquisition could be accomplished.
CAPITAL PARTNERSHIPS
RETAIL AND HOSPITALITY DEVELOPMENTS
OTHER BUSINESS START-UPS AND FINANCINGS
