In 2003, while still at Capstar, Blum identified a student housing shortage on the SDSU campus. Blum conceived a creative solution to convert two, three, and four-bedroom homes into six, seven, and eight-bedroom homes. Blum’s development strategy has now become a standard model for developing student housing in The College Area as well as other campuses around the country. Over the next few years, Blum converted approximately 125 homes around The College Area, quickly turning what was a side project for Blum into a new management company, SoCal Property Management Group, which became the largest single-family housing provider at SDSU, as well as one of the largest college housing redevelopments in the country.
In 2009, Blum returned to San Diego as he identified an opportunity in the midst of a massive foreclosure crisis. Blum created a flip fund to capitalize on the opportunity. While still managing his flip fund, in 2013, Blum merged Socal Property Management with Arkyon Properties, which then acquired West Rental management – an M&A deal that would become SBMI group. Over the next 6 years, SBMI Group acquired two more management companies, and (acquired & managed) over 600 (commercial, residential, and retail assets). In 2019, SBMI’s 3rd party management division was sold.
In 2021, SBMI was rebranded as the Gravis Group, which now houses both an advisory arm, as well as continuing to house a robust investment portfolio focused on multi-family housing, student housing, and independent living facilities.
