CHICAGO-Fifield Realty Partners has announced the recent hires of two multifamily acquisition veterans to oversee its new $600 million apartment acquisition fund, Fifield Residential Partners IV, LLC (FRP IV). Matthew Masinter has joined Fifield as EVP of acquisitions, while Erin Ruth DiPaola has joined as an SVP of acquisitions. Steven Fifield, president of Chicago-based Fifield Realty Partners, said Masinter and DiPaola will manage all aspects of the new fund, which was launched in December 2009 and is focused on purchasing both core-plus and value-add properties, as well as short-sale transactions and loan-to-own acquisitions.

The fund will be targeting 200- to 500-unit buildings and complexes in both urban and suburban settings across the country with most of the fund’s prospective acquisitions ranging from $20 to $50 million. While Masinter will focus his acquisition efforts on the East Coast, Florida and Texas, DiPaola will concentrate on properties in Phoenix, Las Vegas and Denver.

Masinter brings to the fund more than 12 years of real estate experience, with an emphasis in acquisitions, asset management, commercial mortgage loan underwriting, real estate analysis and auditing. Most recently, he was CIO for Chicago-based Covington Realty Partners, a sister company to the Laramar Group, where he was responsible for all acquisition, asset management and disposition activities for the company’s 13 property portfolio. He also served as VP of acquisitions at Covington.

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