Earlier this week, the Seattle Times' Geoff Baker reported that a New Mexico-based investment firm called M.T. Phoenix, LLC, was willing to spend the $285 million dollars necessary to renovate KeyArena in order to once again make it NBA and NHL viable, at least according to a report from AECOM. This group was led by Seattle native Chris Brozovich, the Vice President of Lending for M.T. Phoenix, according to their website, but Senior Loan Advisor, according to his email to city councilman Tim Burgess.
So what do know about this mystery company? Well, we know from Baker they are based out of Albuquerque, New Mexico. We also know they were just incorporated nine months ago. What we don't know, since Brozovich never received an answer from Mayor Ed Murray - who Burgess forwarded his email to - and Baker didn't ask, is what M.T. Phoenix would want in return for the investment. Brozovich said "it’s just to be able to know that I helped out my city," but investors don't normally just give away money. That's why they're called investors and not philanthropists.
We also know, thanks to a follow-up article from KING 5's Chris Daniels, that M.T. Phoenix lists Terry McMains as its CEO and Matthew Donald as its president. McMains was, according to his LinkedIn page, formerly the founder of a water filtration company and Donald, again per his LinkedIn profile, is a recent graduate from the University of New Mexico School of Medicine with a Bachelor of Science in Nuclear Medical Technology.
We at Sonics Rising dug a little deeper. We found the company's listing on the New Mexico Secretary of State's business page and again saw the names of McMains and Donald. We also get verification that the company was incorporated in February of this year (February 3rd, to be precise). We also see that the company's primary place of business is listed as 7613 Daniel Circle NW in Albuquerque. A quick Google Maps search of that address finds this:
A search of the same address on the real estate site Zillow reveals it to be a 1,800 square foot, two bedroom, one bathroom home worth an estimated $248,874. It also lists it as a rental, with a monthly estimate of approximately $1,200. Nearby businesses include a church, a library, a beef jerky factory, and an ice cream store.
Now, I am admittedly no real estate investor, but to me, I think a better use of M.T. Phoenix's $285 million would be to invest in a more adequate office space. While 1,800 square feet seems like a good enough size for what is, according to the company's website, a mere four-man operation (down three since this story first broke), having bedrooms in a corporate headquarters seems frivolous and I would consider moving to a more business-friendly location. Perhaps something with towers.
We considered reaching out to Chris Brozovich for this story, but his phone number has inexplicably been removed from the company's contact page.