Los Angeles-based Hanover Financial is a wholly owned subsidiaryof Palo Alto-based Marcus & Millichap Co. Kensington ManagementGroup is based in Tustin.
"Kensington and Hanover saw an opportunity to invest in an assetthat is part of a growing and expanding neighborhood with excellentdemographics and traffic projections," says Mark M. Macedo,Hanover's managing director.
Fast-growing Hanover is carving a niche as a leader of jointventure capital in the West Coast market by taking part in small-and medium-size deals that don't fit the parameters of many largerinstitutions. Formed approximately 18 months ago, it has alreadyacquired nearly $150 million of real estate assets, most of them inCalifornia, Hanover President and CEO Michael H. Lowinger tellsGlobeSt.com.
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