Newport Beach, Calif. (March 13, 2017) – Buchanan Street Partners announces plans to deploy $500 million over the next five years with the launch of a new multifamily platform to further diversify the company’s investment business. Kevin Hampton has been hired as an executive vice president to lead the company’s new initiative at a time when apartment assets are attractive to many investors across the West Coast.
“There are a variety of factors that we believe will result in increasing opportunities in apartment markets. As construction lenders reign in new lending and equity investors become more cautious, we expect the supply pipeline to shrink,” said Tim Ballard, president and co‑founder of Buchanan Street Partners. “When combined with the changing demands of renters by choice, we believe that there is an increasing opportunity to improve existing apartment assets and generate attractive returns in doing so.”
Historically, Buchanan Street has invested in more than 14,000 multifamily units, often serving as the equity partner. Going forward, the company will focus on acquiring properties directly. Hampton and the dedicated multifamily effort will pursue core-plus and value-add investment opportunities in the Western United States, with an immediate focus in Denver, Salt Lake City and Phoenix.
“Kevin is a seasoned veteran that brings 25 years of multifamily investment and development experience,” said Ballard. “We were very focused on finding the right addition to our team, and Kevin is a perfect culture fit with tremendous expertise.”
Hampton was formerly the president of PLC Apartments where he oversaw the company’s investment strategy and execution. Prior to PLC, he led development and investment operations across the Western United States at Associated Estates, a publically traded REIT, and was previously the vice president of development at Western National Realty Advisors. During his career, he has been responsible for the development of more than 15,000 apartment units across the Western states.
“As we grow our investment business, we will also seek additional multifamily experts to bolster the team,” said Hampton. “We believe that our human capital is our greatest investment and are currently in search of a multifamily acquisition analyst and a vice president of asset management to join us.”
ABOUT BUCHANAN STREET PARTNERS
Buchanan Street Partners is a real estate investment firm based in Newport Beach, California that invests debt and equity capital on behalf of institutional and private investors. Since its inception, Buchanan Street has invested over $6 billion in both real estate debt and equity investments. The company is comprised of a highly skilled team that has invested through multiple real estate cycles enabling them to identify opportunities and maximize value while prioritizing capital preservation. www.www.buchananstreet.com.
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