SAN FRANCISCO—Carmel Partners has named Michael LaHorgue to the newly created position of president, effective immediately.
LaHorgue is based in the firm’s San Francisco headquarters and reports directly to Ron Zeff, founder and CEO of Carmel.
“Mike and I have known each other professionally for over 30 years, with our real estate careers spanning several cycles during significant change and growth in the marketplace,” Zeff said. “Over the last year Mike has worked with Carmel in the role of Strategic Advisor. He has contributed to our platform tremendously by helping to refine our internal processes and overall vision. His leadership has been both invigorating and value-add. It became apparent to all of us that his real estate expertise and values aligned completely with our own, and I am pleased that Mike has joined Carmel Partners.”
As president, LaHorgue will also serve as a member of Carmel’s investment committee and executive committee. Carmel specializes in multifamily real estate investment strategies in the US. Earlier this week, Carmel held the final closing of its fifth US multifamily value creation fund that was oversubscribed on its $1.025 billion hard-cap.
“Carmel has an outstanding record of success through a variety of market environments, and I am honored and excited to join such an exceptional company. I have the utmost respect for Ron and appreciate his smart, ethical, business abilities. My objective is to help Carmel build on the long history of success and support senior management in what they do best – creating investor value in all aspects of our real estate business,” said LaHorgue.
LaHorgue has more than 30 years of institutional and private real estate investment experience. He has spent his career in San Francisco, most notably 9 years with Shorenstein Properties, a national owner of class A office buildings and the sponsor of closed-end real estate investment funds. At Shorenstein, LaHorgue served as president of Shorenstein Realty Services, the firm’s property services subsidiary, and in that role oversaw and directed the day-to-day activities of the leasing, property management, construction, accounting, human resources, and operations groups, as well as the ground up development team.
In 2001, LaHorgue founded and led the private real estate investment company, Seaview Ventures, LLC, which has been active in many aspects of multifamily and distressed real estate investment. The firm focused primarily on buying and renovating apartment and condominium properties in Northern and Southern California.