IRVINE, CA—GlobeSt.com has learned exclusively that San Francisco-based Swift Real Estate Partners has hired Stephen Blue as managing director for the Southern California region. Swift is a vertically integrated real estate operating and investment-management-fund company that invests in West Coast value-add office and industrial properties.

Based in Irvine, Blue will be in charge of leading Swift's Southern California region, which includes the Orange County, Los Angeles, San Diego and Inland Empire markets. He will be responsible for strategic leadership for the region, working with market leaders to identify and manage investment opportunities and recurring and developing talent for the firm's Southern California region.

Blue joins the firm from Davenport Partners, where he served as a partner. While there, he led the acquisition, financing and operating efforts on numerous office properties on behalf of Davenport's private and institutional investors. Before joining Davenport, he served as SVP and partner with Buchanan Street Partners, responsible for identifying, structuring and underwriting joint-venture investments. Blue also spent five years at Spieker Properties in the Bay Area as VP and officer of the company.

Swift's founder chief executive Christopher Peatross, says, “I have known Steve for more than 30 years when we met at Stanford as undergrads and when we both worked at Spieker Properties. Steve has honed his skills and has done an excellent job for the highly regarded Davenport Partners. He brings to Swift a wealth of senior leadership experience and strategic capabilities that make him perfectly suited to lead our Southern California region.”

According to Blue, “The strategy in Southern California will mirror what Swift has achieved in the Bay Area and Pacific Northwest. As the Southern California recovery has lagged the other West Coast markets, we believe it will provide compelling investment opportunities.”

Blue tells GlobeSt.com, “The SoCal office markets, particularly Orange County and the Inland Empire, were hit hard during the recession due to the mortgage crisis. After a long, slow recovery and little to no new development, not only have the office vacancy rates have come down to near pre-recession levels, but also the tenant base has become much more diversified. We feel there are going to be compelling value-add investment opportunities in the SoCal office sector as the market is finally poised for some strong tenant demand and rent growth.”

As GlobeSt.com reported in August 2014, Swiftpurchased the Executive Building, an 11-story, class-A office building totaling 104,630 square feet in downtown Portland, OR, for $21.1 million from the Matteson Cos. contingent to existing debt.