[IMGCAP(2)]Anaheim-based Milan Capital, a privately held realestate investment firm, specializes in the acquisition, developmentand management of multifamily and commercial properties throughoutSouthern California. Gilmartin, who spent five years with SperryVan Ness, also also spent five years with KPMG.

Gilmartin's hiring comes at a time when Milan plans to continuebuying value-add assets and "foresees numerous opportunities as therecessionary environment ramps up its pressure on the financialinstitutions to release underperforming assets at or near market,"according to Chris Nichelson, president of the company. Nichelsonobserves that, "For those investment companies who kept theirleverage low and books clean of high priced assets during theoverheated market, opportunities will abound."

Nichelson points out that, as the markets shifted in the late90s, Milan traded out of many apartments in is portfolio andfocused on acquiring "discounted value-add commercial propertieswith current cash flow and attractive upside through lease up andrenovations." The firm has acquired and has under managementapproximately two million square feet of commercial assets alongwith 350 apartment units, down from 1,200 units at its peak.

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