FOR IMMEDIATE RELEASE
Media Contact: Nadene Bristow/ Dominique Pacheco(310) 322-9911
LEADING MULTIFAMILY FINANCE TEAM OF PALMER, CHASE AND SHERMANFORM MULTI-HOUSING CAPITAL ADVISORS, INC.
Dynamic Team Expands Its Industry-Leading Investment Sales Capabilities
(LOS ANGELES, CA – JUNE, 2009)
–Curtis A. Palmer, Herb S. Chase III and Peter M.Sherman, market-making principals and three of Southern California’s top-performing multi-housing professionals, have announced they have formed the first of its kind Multi-HousingCapital Advisors, Inc. (MHCA), a full-service brokerage company specializing in the acquisition,disposition and financing of multifamily properties throughout the country as well as an expertisein student housing. Led by a strong team of regional experts with proven track records of success, including its founders, MHCA brings a wealth of industry knowledge and experience tothe marketplace.
Founded on Success
The firm is an active player in the market, representing several notable apartment communitiesand financing assignments, with plans to execute more than $500 million in transactions beforeyear end. MHCA will provide institutional investment sales, debt and equity financing services toapartment owners, developers, pension fund advisors, financial institutions and insurancecompanies. Capitalizing on its expertise in multi-housing financing, the firm recently expanded itscapabilities as a correspondent DUS lender, facilitating Fannie Mae, Freddie Mac and HUDloans.These seasoned professionals’ diverse clientele include many of the best known and successfulinstitutions including ING Clarion, Prudential Real Estate Investors, Westar Associates, US Bank,
AIG Global Real Estate, Bank of America, Blackstone, Goldman Sachs, Morgan Stanley, AIMCO,Bear Stearns and JP Morgan, to name a few.Collectively, they have successfully completed more than $20 billion in sales and financingtransactions, making them among the top multi-housing advisors in the United States. The teamrepresents the best in the multifamily industry and are experts at managing and executing acomprehensive range of real estate services including:
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Investment property sales
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Single family and apartment land sales
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Note sales
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Acquisition, bridge and mezzanine financing
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Joint venture equity placement
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Portfolio and asset recapitalization
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Fannie Mae, Freddie Mac, FHA Financing“During these times, our clients are demanding a greater degree of sophistication and creativitywhen it comes to delivering long-term investment strategies, allowing them to seize newopportunities and continuing to be successful,” said Mr. Palmer, principal and founder. “With aninfusion of talent and industry experience, MHCA provides an ideal, comprehensive platform fromwhich we can continue to innovate and lead,” added Mr. Chase, principal and founder.A few of the team’s notable transactions include:
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Tuscany, Los Angeles, CA
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$75 million sale
of a mixed-use property adjacent to theUniversity of Southern California consisting of 120 units and 6,171 square feet of retailspace. The sale represents the highest price per unit price ($625,000) in the WesternUnited States in 2009.
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Berkeley Portfolio, Berkeley, CA – $146 million sale
of a portfolio including 418apartment units located in the heart of downtown Berkeley within walking distance to theUniversity of California at Berkeley.
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City Place, Santa Ana, CA - $27 million sale
of a 60,000-square-foot retail center.
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On Broadway, San Diego, CA – $20,875,000 sale
of a mixed-use property consisting of 33 units, 36,715 square feet of retail space and a 275 car parking garage in DowntownSan Diego.MHCA is ideally poised to take maximum advantage of the diverse opportunities arising in allareas of the Southern and Northern California regions, some of largest, hottest commercial realestate markets in the nation.
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MHCA Press Release - June, 2009 (downloadable)
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