The fund will be targeting 200- to 500-unit buildings andcomplexes in both urban and suburban settings across the countrywith most of the fund's prospective acquisitions ranging from $20to $50 million. While Masinter will focus his acquisition effortson the East Coast, Florida and Texas, DiPaola will concentrate onproperties in Phoenix, Las Vegas and Denver.

Masinter brings to the fund more than 12 years of real estateexperience, with an emphasis in acquisitions, asset management,commercial mortgage loan underwriting, real estate analysis andauditing. Most recently, he was CIO for Chicago-based CovingtonRealty Partners, a sister company to the Laramar Group, where hewas responsible for all acquisition, asset management anddisposition activities for the company's 13 property portfolio. Healso served as VP of acquisitions at Covington.

"We're looking to acquire 5,000 units in the next 12 months andI have every confidence Matthew is going to secure some outstandingproperties in his new role," Fifield said.