Westrec Announces the Death of Founder and CEO Michael SachsPublished on April 15, 2019
Westrec Marinas’ founder and CEO, Michael M. Sachs died at his home on April 11, days shy of his 78th birthday. A graduate of the University of Illinois (B.S., Accounting, 1962) and Stanford University Law School (J.D., 1965), Sachs was also a Certified Public Accountant in Illinois (the youngest ever at the time) and California.
Sachs practiced law at Kindel and Anderson, became a Partner at Agnew, Miller and Carlson, and then formed his own firm, Sachs and Phelps in 1982. He then served as executive vice president and general counsel of Public Storage, Inc., from 1982 to 1990, where he helped to raise over $3 billion in equity capital.
In 1987, he conceived the idea of storing boats in the same manner as people’s personal goods, and formed Westrec Financial, Inc. Sachs was the principal architect behind the formation, development and capitalization of Westrec Marinas, serving on the boards of directors of many public and private companies during his career and frequently sought out by acquaintances for advice on startup companies.
Sachs is survived by his wife of more than 30 years, Maureen, his sister Rosanne Ezer (Steve Ezer), nieces Debbie Ezer and Melissa Martin (Paul Martin) and grandnephews Bradley and Derek Martin.
A service was held for immediate family only, who are requesting privacy during this difficult time. No flowers or phone calls to the residence, please. Cards and remembrances may be sent to Westrec, 16633 Ventura Blvd., Suite 600, Encino, California 91436.
Those wishing to honor Michael may make a donation in his memory to the charity of their choice.