LOS ANGELES-Champion Real Estate Co. revealed a new partnership with Alex Saunders who will serve as a partner of Champion-Saunders Multi-Family Investments. In his role, Saunders will manage the multifamily platform and spearhead the firm’s acquisition of multi-family properties, GlobeSt.com has exclusively learned.
In the last 12 months, Champion has acquired $44 million in multifamily properties and intends to triple that volume in 2013. Champion-Saunders Multi-Family Investments targets existing value-add multifamily properties throughout the Western US.
The venture will consider opportunities in prime multifamily markets ranging in price from $5 million to $50 million. “Our primary strategy focuses on urban hubs where residents are afforded a high quality of life proximate to jobs, work, and play,” explains Saunders.
“For the past 16 years, Alex has been a leader in the multifamily industry on the West Coast,” says Bob Champion, president of Champion Real Estate Co. “We are confident that now is a great time to take advantage of the multifamily market and that Alex’s knowledge of the market will provide the venture the opportunity to acquire great opportunities.”
Saunders most recently held the position of managing director for a New York City-based institutional fund manager where he lead the Western region’s acquisition activities, placing in excess of $230 million of equity representing more than $800 million in real estate.