Cisneros said in a prepared statement that CityView "has enjoyedstrong relationships with several highly regarded institutionalinvestors and invested capital for them with great results" sinceits inception. However, the firm believes that now is an ideal timeto expand the scope and breadth of its relationships throughout theinstitutional capital markets, Cisneros said.

Barsily will have primary responsibility for identifying capitalpartners to invest alongside CityView in connection with several ofits various urban-based investment strategies, including thosefocused on value-add multifamily acquisitions, distressed for-salehousing, and sourcing, structuring and marketing uniquelystructured mezzanine debt associated with financing urbaninfrastructure investments. He will also lead CityView's effort toestablishing a co-investment joint venture that will allowinvestors the opportunity to invest alongside CityView in fundingsponsor equity in carefully selected real estate transactions whilepaying no fees on committed capital and retaining discretion oninvestments. Additionally, Barsily will establish the company'sinitial presence in New York City, expanding the Los Angeles-basedcompany's national footprint.

Crane will have primary responsibility for development andimplementation of the multifamily group functions in targetedmarkets on a national basis, including investment and portfolioexpansion of class A, B and C assets, purchasing distressed notesand providing equity solutions to distressed multifamily operators.The CityView multifamily division looks to acquire apartmentcomplexes and/or portfolios in major US metropolitan markets, inurban in-fill sites, at prices below replacement cost and wherevalue-add opportunities exist through a new strategy, newimprovements, new management and/or a revised capital structure.The strategy targets above-market returns by improving the class ofthe asset, not through cap rate compression, CityView says.