Executive Team

Warner E. Stone is Owner and Chairman of Seneca Investments and a Principal of ClearWorth Capital. Mr. Stone brings the experience of a 40+ year career in real estate development, consulting, management, finance and brokerage. Over his career, Mr. Stone has developed several million square feet of real estate projects including:

  • In excess of 6,000 multifamily units
  • Several hundred luxury condominium units
  • Four (4) class A office buildings
  • Two (2) medical office buildings
  • Approximately 700,000 square feet of retail space
  • Five (5) hotels
  • A 16 screen stadium-seated movie theater

Warner also brings a wealth of talents and perspective through other positions he has held during his career, which have included the following:

  • Provided mortgage banking services for equity, construction financing, and permanent loans totaling over $1 billion dollars at Glenn Justice Mortgage and the mortgage banking group at both Bank of America and Wells Fargo
  • Held a Senior Real Estate Management position with Homeland Stores, a grocer with sales in excess of $1 billion and 7,000 employees
  • Served as President of Search Southwest, a company with responsibility for a development portfolio of retail shopping centers, hotels, office buildings, apartments and industrial buildings

Warner earned a BBA in Finance and Real Estate from the University of Texas at Austin, and an MS in Real Estate and Urban Land Economics from the University of Wisconsin at Madison, where he studied under the tutelage of the renowned Professor James Graaskamp. He also holds a JD from Southern Methodist University along with an LLM in tax law (with honors, Order of the Coif), and has previously maintained his CPA license, which he earned after completing his accounting studies at the University of Houston. He has practiced both law and accounting, and currently maintains his law license. Warner also served in the United States Navy’s Intelligence Division as an Officer, and was honorably discharged in 1968.

V. James Marfuggi is a Partner with ClearWorth Capital, and the President of NOI Property Management, LLC, bringing extensive experience managing multifamily assets in challenging operational environments, with a focus on turnaround situations and underperforming portfolio assets. During his career he has:

  • Direct-managed over $3 billion in real estate assets, the majority of which have been multifamily assets
  • Created over $500 million in value for institutional and individual investors through intensive, targeted management practices
  • Held a COO position with an “MFE Top 50″ owner of multifamily assets, where he achieved consecutive years of 7% FFO growth

Jim holds a Bachelor’s Degree in Business Administration from the University of Arizona.

Matthew P. Stone serves as the President and CEO for Seneca Investments. During his career, Matthew has been directly involved in:

  • The development of 25+ projects, including over 4,000 multifamily units, with a total value of $550+ million
  • The origination and underwriting of $500+ million in real estate construction loans as well as lines of credit, bridge loans and mini-perm loans
  • Property types including garden and mid-rise multifamily, age-restricted multifamily, assisted living, memory care, hotels, office, strip and anchored retail, regional malls, industrial, town-homes and luxury high-rise condominiums

During his career, Matthew has held a number of other positions, including:

  • CFO and Vice President Finance and Development with Seneca Investments
  • Associate with Oliver Wyman, a global strategy and operations consulting firm
  • Client Manager and Commercial Real Estate Loan Officer with Bank of America
  • Vice President and Client Manager with EquityCity, a real estate equity America brokerage firm

Matthew earned an MBA with distinction (Sord Scholar, Dean’s Award, MBA Excellence Fund Scholar, and Endowed Presidential Scholar) from the University of Texas at Austin with a concentration in Real Estate Finance, and a BS in Industrial Engineering from Stanford University.