ConAm Group Names Rob Singh as New CEO

Rob Singh has been named CEO of the ConAm Group, GlobeSt.com has learned exclusively. Singh formerly served as co-president and CIO for the last three years, and helped the firm transition to a discretionary capital investment model that allowed the firm to accommodate more investment interest and better compete for deals. In his new role, Singh will lead the firm through its next phase of growth, which will include building the investment and fund business and property management arm.

“Going into 2019, we plan to kick off a third fund, which will continue to have a value-add component, but will also likely have a core-plus component as well. I see ConAm continuing with a fund model going forward,” Singh tells GlobeSt.com. “We have also recently completed three development projects in the Pacific Northwest, and we will continue to pursue new development opportunities going into next year. We also plan to continue building our third-party property management business.” The property management division has grown from 50,000 units to 54,000 units in three years, and Singh plans to continue to grow the portfolio.

Singh launched this new investment model three years ago, moving from a deal-by deal model to a discretionary fund model, which has raised $300 million. “We have raised two funds to date and completed three development projects and raised in excess of $300 million,” he explains. “Going forward, we will continue to build on our core-competencies as an operator combined with our strong track record that we have had in place for 43 years as an investment manager.”

The fund focuses on value-add multifamily opportunities. Strong investment appetite and increasing competition for quality deals was the catalyst to transition to a fund model. “We wanted to raise capital more efficiently through a single offering versus a deal-by-deal structure,” explains Singh. “This allows us to be more competitive as a buyer because we can convey that we have discretionary capital. Previously, we did one-off offerings with either institutional joint ventures or private syndications, where we were always over-subscribed. This fund model is an efficient way to raise capital and accommodate additional investors.”

The model has been successful, especially in competing for deals. Still, as we get later in the cycle, the firm remains conservative in its investment strategy. “It is clearly helpful when we are conveying, as a buyer, that we have full discretion over the capital and the investment decision,” says Singh. “We still place a large emphasis on being a disciplined buyer, especially in today’s competitive marketplace.”