HOUSTON-In a move to bolster a local presence, Del Rey UrbanCapital LLC of Santa Monica, CA, has opened a satellite office onPost Oak Boulevard. The company is a real estate fund manager andadvisory firm focused on acquiring and financing distressedresidential properties, and is aggressively seeking out distressedresidential properties.

A spokeswoman for the company tells GlobeSt.com that ScottChaplan, managing director of DRU's funds and executive chair ofUrban Group of Cos. is overseeing the local office. “Our decisionto enter the Houston market was based on attractive demographics,the region's strong job market and the relatively low cost ofliving,” Chaplan says in a prepared statement.

UCG is an integrated, multi-service firm that structuresfinancing as well as acquiring, developing, buying, selling andbrokering real estate. UCG also rehabilitates and managesmulti-unit residential, mixed-use, and office properties.

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