Given Pan-Jamaica Investment Trust Limited’s variety of assets, running the company is a financial juggling that president and chief operating officer Stephen Facey seemed to have mastered. Facey is ranked at No. 8 on the  2009 List by virtue of his company’s $1.93 billion profits for the fiscal year, which represent a $317,862 million or 19.65 percent growth over the previous year.

Based in Kingston, Pan-Jamaican Investment Trust Limited, through its subsidiaries, provides property management services in Jamaica. The company’s property management services include development, rental, and management of commercial real estate properties. It also offers investment management and securities trading services. In addition, the company provides financial services and captive insurance, as well as involves in horticulture activities. Facey, whose family owns more than 40 percent of the stock, has been in charge since 2004. His father, Maurice Facey, serves as chairman of the board.

As an example of the kind of investment Pan-Jam undertakes under Facey’s leadership, the company announced in late 2009 that it would pay the Jamaican government $454.5 million to acquire 161,610 square feet of prime real estate in New Kingston to develop a mixed used site, including hotel, retail, recreational, office and residential facilities.

“A city hotel and residential apartments will be the bulk of the development with some small commercial space,” Facey told the Gleaner Wednesday Business.

Facey has been credited with “capturing the spirit of enlightened capitalism” that has driven the family for generations. His directorships include Hardware & Lumber Limited, Life of Jamaica Limited, Pan Jamaican Investment Trust, Kingston Restoration Company and Kingston City Centre Improvement Company (KCCIC).

A graduate of Rice University, Facey also holds a master’s in architecture from the University of Pennsylvania. He served as CEO of Jamaica Property Company since 1990. In terms of civic involvement, he was president of the New Kingston Civic Association, where he has spearheaded initiatives that have enhanced the business environment in New Kingston including the creation of an area police post.

Pan-Jam owns and manages 700,000 square feet of high-priced office space in landmark buildings located primarily in the heart of Kingston’s main business district.

“There has always been a passion in the family for real estate development,” Facey told the Jamaica Observer in April 2009. “Our level of attention to detail sets us apart from others within the industry.”

According to the published reports, Pan-Jam has reaped profits through smart financial investments. But one of those, Hardware and Lumber Limited, of which Pan-Jam owns a 20.8 percent stake, has racked up significant losses and continues to be a drag on Pan-Jam profits.