Robert Shumake Rescues Detroit Pension, avoiding Costly Suits and Losses

Robert Shumake negotiated for mortgage modification to save pension funds when GM filed bankruptcy
Jan. 19, 2010 - PRLog -- Detroit, Mi – Robert Shumake and his team of business professionals saved Detroit pension funds from disaster, keeping GM to only a 10% reduction in rents for 5 of their state-of-the-art plants.  

As a result of a six-week negotiation, Mr. Shumake was able to maintain the security for equitable and Detroit pension fund mortgages.  Through loan modification by Robert Shumake, the plant remained open, providing jobs and keeping security in place at its highest value while maintaining a cash flowing asset for the pension fund.

Robert Shumake is the CEO of Inheritance Capital Group, a Michigan based private equity real estate investment and development firm. ICG manages nearly 3 million square feet and a $200 million dollar real estate portfolio.  Mr. Shumake has over 15 years experience in his field.  As founder of the First Equity Holdings, he managed and sold 85% of the HUD inventory in Michigan with sales of approximately 80 million dollars.

Robert Shumake is a philanthropic leader who gives back to the community, donating a portion of his income to the Shumake Scholarship Relays, an annual sports event where kids compete to win college scholarships.  Learn more at

The Robert Shumake Foundation strives to promote home ownership, entrepreneurship and education to provide opportunities for high school students to attend college and to increase the financial stability and independence of all people.  Read Robert Shumake’s latest blog at


Darci McConnell

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