About Black River Partners
Daniel Siegel is the principal of Sage Creek Associates, LLC and a founding principal as well as co-manager of Black River Partners and related entities. He has over 40 years experience in all facets of residential and commercial real estate development and has enjoyed a diverse and successful legal and business career.
Mr. Siegel is currently a managing partner of Praedium Strategic Investments, a real estate investment and development company specializing in the development, construction, financing and management of new and existing Medical Arts Office Buildings in excess of 1,500,000 SF. Prior to joining Praedium, he was general counsel and a managing partner of a diversified group of real estate companies involved in residential and commercial construction, investments, development and management companies that built single-family homes, PUD’s condominiums and townhomes in excess of 7,500 units in New Jersey, Florida and California. These entities also built and managed in excess of 500,000 SF of retail and commercial office space throughout New Jersey.
As an attorney and developer, Mr. Siegel has specialized in all phases of the development process from land acquisition to obtaining all necessary governmental approvals for the project, to the physical development and construction of the project and/or sale of approved project and/or sale of approved project to public housing and development companies. Outside of real estate development, he has also served as a consultant and attorney to the banking industry for the work out, construction and restructuring of bank-owned commercial and residential property.
After receiving his B.A. from Miami University, Oxford, Ohio, Mr. Siegel received his law degree from the Seton Hall University School of Law. He practiced law for 12 years concentrating in all aspects of real estate including land use, contracts, financing and development, representing residential and commercial developers, builders and financial institutions.
Mr. Siegel was an adjunct professor at the Seton Hall University Stillman School of Business.
David Adams is the principal of Fluid Capital Management, LLC and co-manager of Black River Partners. A Chicago native, Mr. Adams graduated cum laude from Indiana University in 1987 with a B.S. in Accounting. After graduation he returned to Chicago and began working for Deloitte Haskins & Sells. In 1988, Mr. Adams joined the Chicago Mercantile Exchange to become an apprentice financial trader going on to trade interest rate derivative futures as a market maker for over 15 years.
In 2004, Mr. Adams moved to Florida to start a proprietary trading group. He retired from trading in 2010 and has been investing in real estate and small private equity deals. In April 2013, Mr. Adams joined Black River Partners to help analyze deal flow, and was quickly promoted to manager.
Alexander Ruiz serves as Chief Operating Officer of The Prestige Companies, where he has spent more than two decades leading the firm’s strategic growth, operations, financing, and investment activities. He also serves as a manager of affiliated investment platforms, including Black River Partners and Prestige Florida Fund Partners.
Over the course of his career, Mr. Ruiz has structured and coordinated more than $3 billion in real estate acquisitions, overseen in excess of $1.8 billion in debt financing, and facilitated more than $500 million in equity and institutional mezzanine capital transactions. He maintains longstanding relationships with institutional and regional lenders, as well as the government-sponsored enterprises Fannie Mae (FNMA) and Freddie Mac (FHLMC), and has led the formation of numerous Community Development Districts and related public bond issuances.
Since assuming oversight of The Prestige Companies and its affiliates in 2009, including Pacifica Homes and EZ 2 Own, Mr. Ruiz has helped transform the organization into one of Florida’s leading privately held real estate investment, development, and management firms. Under his leadership, the company became one of the state’s largest single-family distressed acquisition and resale platforms, generating more than $500 million in sales, while also expanding into multifamily development with more than 3,000 apartment units completed or under construction since 2014.
Since 2012, Mr. Ruiz has served as a Manager and Advisory Board Member of Black River Partners, a diversified real estate investment fund that has invested in and completed more than $300 million in real estate transactions. In 2025, the firm launched Prestige Companies
Fund, a private real estate investment and lending platform, where Mr. Ruiz serves as Co-Manager.
Mr. Ruiz earned an MBA and a Graduate Certificate in Finance and International Business from the University of Miami. He graduated magna cum laude with a Bachelor of Arts in Political Science from Florida International University. He is a member of the Founders Club of the Baptist Health Foundation and was recognized by the South Florida Business Journal as a recipient of its 2023 40 Under 40 award.
Mr. Ruiz currently serves as the Speaker of the Florida House of Representatives’ appointee to the Board of Directors of the Florida Housing Finance Corporation. He has also served on numerous governmental and nonprofit boards, including Kristi House, the City of Hialeah Personnel Board, and the City of Hialeah Affordable/Workforce Housing Task Force.
Luis Arrizurieta has over 25 years of experience with numerous business ventures ranging from real estate to family office operations. His experience spans from financial reporting, capital raising, capital structuring (including tax-efficient investing strategies), operational aspects of real estate development and construction to the management of real estate operating companies.
Mr. Arrizurieta’s work began at BDO Seidman, the sixth largest international consultancy firm providing assurance, tax, financial and advisory services to publicly traded and privately held companies. He rose to the rank of audit manager where his work involved industries such as real estate, financial services, retail, manufacturing and waste disposal. This work included interaction with Latin American divisions of US based enterprises.
In 1994, Mr. Arrizurieta became Controller of the family owned and vertically integrated real estate organization Adler Group. Shortly thereafter he was promoted to Chief Financial Officer and within twelve years was directly involved in the organization’s expansion from 2 million SF of industrial and office real estate projects to over 8 million SF. He was instrumental in the acquisition, financing, capital structuring and overall management of the organization that eventually owned and managed over $400 million of real estate assets in the South East US.
In 2006, Mr. Arrizurieta joined the Kislak Organization as Chief Financial Officer. He joined the organization to prepare it for growth with the inclusion of institutional capital. He oversaw all financial aspects of the organization that included over 3,500 multi-family units throughout the US, along with a brokerage operation in New Jersey and property management operations that oversaw the multi-family portfolio.
In 2008, Mr. Arrizurieta formed Grupo Larrizur to provide consulting services that included real estate underwriting, mergers and acquisitions, business recapitalization, strategic planning and overall business development to corporate and individual clients. Concurrently with the formation of Grupo Larrizur, he joined forces with his brother Jorge L. Arrizurieta to form Arrizurieta & Associates LLC, which focuses on providing a wide range of business consulting services to numerous clients in South Florida and Latin America.
As of 2013, Mr. Arrizurieta has been dedicated to managing the investments of Black River Partners, a real estate debt fund focused on South Florida real estate ventures that currently manages over $41 million of diversified real estate debt placements with various real estate developers in South and Central Florida.
Mr. Arrizurieta is a Certified Public Accountant. He graduated from Florida International University with a B.A. in Accounting and has been an active member of various community business associations, including the Greater Miami Chamber of Commerce, while placing an emphasis on business development in Latin America.
Serving as special counsel to Black River Partners is attorney Alejandro Vilarello. Mr. Vilarello has more than 30 years of legal experience including extensive experience in litigation, local government law, land use, zoning, condominium law and construction law. His firm specializes in real estate closings and title work with a focus on corporate law, zoning, land use, as well as business litigation.
Prior to entering private practice, Mr. Vilarello was a shareholder in Akerman Senterfitt’s land use and governmental relations practice and served as City Attorney for the City of Miami. He played an integral part in transforming Miami into a world-class city after its resurgence from the brink of bankruptcy a few years prior. From 1998 to 2004, Mr. Vilarello served as legal counsel to elected and administrative officials, as well as supervised a staff of over 30 lawyers.
In 1990, Mr. Vilarello became the City Attorney for the City of Hialeah, a position he held for eight years and was responsible for providing legal analysis and advice to elected officials, department and division heads. He also supervised the city’s Risk Management Department.
Mr. Vilarello first joined the City of Miami in 1983 as an Assistant City Attorney and rose to Chief of the Litigation Division in 1990. In that capacity he was responsible for defending all lawsuits filed against the City of Miami, its employees and its public officials.
Mr. Vilarello received his B.A. from the University of South Florida and his Juris Doctor Degree from Gonzaga University School of Law.
Martin “Marty” Caparros Jr. is the Founder and Chief Executive Officer of The Prestige & Pacifica Companies, with more than three decades of experience developing, building, and investing in real estate throughout South Florida.
Over his career, Mr. Caparros has personally overseen the construction and sale of more than 2,000 homes. Under his leadership, The Prestige & Pacifica Companies have developed or converted more than 15,000 residential units, 200,000 square feet of commercial property, and more than 1,000 acres of land.
Today, the companies are among the larger privately held rental housing companies in South Florida, managing a portfolio valued at more than $700 million. Prestige has built a particularly strong presence in Hialeah and throughout Miami-Dade County, focusing on workforce housing, multifamily and mixed-use development, and the revitalization of communities where the company has deep roots.
Since 2012, Mr. Caparros has served on the Advisory Board of Black River Partners, a private real estate investment and lending platform that has completed over $350 million in real estate loans and transactions.
In 2025, Mr. Caparros and his partners launched the Prestige Companies Fund, a $100 million private real estate investment and lending fund. Built upon decades of experience and relationships, the fund was created with a long-term vision of becoming a significant investment platform and pursuing opportunities within the Prestige portfolio and throughout the broader real estate market.
Throughout his career, Mr. Caparros and Prestige have partnered with respected developers, investors, lenders, and real estate professionals, including Roberto Cayon and Cayon Development, Jose Boschetti and BF Group, Art Falcone and Falcone Companies, the Brunetti Group, Eddy Garcia and Watermen Development Group, Florida Value Partners, Asaka, David Adams, Alex Greyserman, Black River Partners, and others.
A graduate of the University of Miami, Mr. Caparros has remained committed to giving back to the community. He established the Prestige Scholarship at St. Thomas University to provide educational opportunities for underprivileged young people from Hialeah and has been recognized for his philanthropic and community involvement, including receiving the Century Award from Baptist Health Foundation. His professional accomplishments have also been recognized by Hispanic Business, the South Florida Business Journal, the Miami Herald, and other organizations and publications.
Throughout Mr. Caparros’ leadership, Prestige has been built on a foundation of loyalty, trust, and long-standing relationships. Its lenders, trades, in-house team members, lifelong friends, and family members have been the backbone of the company, with many of those relationships enduring for decades.
Mr. Caparros believes that real estate is ultimately a relationship business. Deals come and go, markets change, and projects are completed, but a reputation is built over a lifetime. His philosophy is simple: keep your word, treat people fairly, stand behind your commitments, and never forget the people who helped you along the way.