TEAM
MAX HOSHIN0
FOUNDER & MANAGING MEMBER
Max founded Saratoga in 2011 and built the firm on solid principles he gained through 30+ years of experience and on the premise of rigid fiduciary duty and a forward-looking, value-driven investment philosophy.
Max received a BA in accounting and economics from Keio University in Tokyo and an MPA in finance from Harvard University.
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Outside of work, Max is an avid snow-skier, enjoys reading, cooking, wine & sake-tasting and traveling.
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ATSUSHI TSUCHIYA
COO & MANAGING MEMBER
Overseeing investment analysis, due diligence, and supervisory monitoring and collaborations with property management partners, Atsushi started his career as a Property Manager at CBRE and was General Manager at Weez International Ltd in Tokyo.
Atsushi received a BS in finance from Drexel University in Philadelphia and a BA in law and social science from Chuo University in Tokyo. He is also a registered Real Estate Broker in Japan and Illinois.
Outside of work, Atsushi, a former nationally ranked ski jumper, enjoys snow skiing and trekking.
JEFF KRAMER
VICE PRESIDENT
With over 20 years managing high-end hotels, cruise ships, and restaurants, Jeff has developed an expansive knowledge of the hospitality sector. He has worked in concept, design, and construction of both branded and independent lifestyle hotels, with a focus on development, transactions, analysis, and driving operational results.
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Jeff earned his BS in Hospitality & Tourism at Grand Valley State and a certification in CRE Analysis & Investment from MIT.
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Off the clock, Jeff enjoys time on the golf course, tasting Chicago’s world-class restaurants, and exploring the great outdoors with his wife and three kids.
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EMMA HOSHINO
ASSOCIATE
Emma's roles at Saratoga include operations, data management and lender relations.
She received a B.S in Industrial Psychology from the University of Illinois Urbana-Champaign and joined Saratoga following her graduation.
Outside of work Emma enjoys fashion, going to concerts, playing tennis and watching her favorite shows.
ELAIRAH VILLAMAYOR
DIRECTOR
Elairah's roles at Saratoga include back office accounting, property operations analysis, and data management.
She joined Saratoga in 2015 as an intern and became a full-time member in 2019.
Elairah received a BS in finance from the University of Illinois at Chicago, graduating as summa cum laude
(GPA 4.0).
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Outside of work, Elairah can usually be found in art museums, cafes, or lounges. She also enjoys hiking, sailing, scuba diving, and traveling.
CHARLIE MINER
DIRECTOR
Charlie's roles at Saratoga include investment analysis and due diligence. He previously worked at Morningstar in Chicago and Singapore, helping institutional investors meet their goals.
Charlie received a BS in Foreign Service from Georgetown University where he majored in International Political Economy.
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Outside of work, Charlie enjoys movies, traveling, snorkeling and walking his dog, Ghost.
ROSS KLEIN
CREATIVE ADVISOR
Ross is well-known for developing, positioning and re-imagining world-class brands; W Hotels, aloft, St. Regis, Ralph Lauren, Harry & David and Jaguar to name a few. While President of Starwood's Luxury Brands, Ross was named one of Travel + Leisure's Top Innovators and has received NLGCC's Courage in Business Award and is recognized as a tastemaker.
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He earned a BS in Advertising and Marketing from University of Florida.
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To unwind, Ross enjoys vintage autos, Joshua Tree RV trips, and relaxing with his "silent sentry", Rufus.
YOSHIKO HEIMSOTH
CFO EMERITUS
Yoshiko retired in 2024. She has brought 30+ years of solid knowledge and experience in financial management and strategic planning to Saratoga. Prior to joining Saratoga, she was President of Siera Management, Inc, served as the Asia-Pacific Director of McDonald's Co., and was an Audit Manager at Coopers & Lybrand.
Yoshiko received a BA in commerce from DePaul University.
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Outside of work, Yoshiko has a passion for fine dining, wine, and yoga. She also loves spending time with her 2 daughters.
YOSHIKO HEIMSOTH
CFO EMERITUS
MICHELLE SHIMIZU
GLOBAL INVESTOR RELATIONS
Michelle's roles at Saratoga include investor relations and business development. Based in Tokyo, Japan, she brings to Saratoga over 15 years of real estate experience, supporting clients with their investments in the US. Prior to joining Saratoga, she worked at Sotheby's Realty in Tokyo, where she was in charge of overseas projects.
Michelle earned her BS in Travel Management at Univ. of Hawaii and is a Licensed Real Estate Agent (HI).
Outside of work she enjoys traveling, reading, and spending time with her dog.
