(To read more on the multifamily market, click here.)
IRVINE, CA-Atherton-Newport Investments plans to invest in anddevelop $600 million of property this year and has brought on newexec Brett Lay as chief financial officer to help spearhead theexpansion. The company also plans to take its operations global in2008.
Ashish Khatana, a co-founder of the company, tells GlobeSt.comthat Atherton-Newport will be "investing quite a bit more" in someof the markets where it already has assets and will be entering twoor three more markets. The locally based company, funded through acombination of its own capital, high-net-worth individuals andinstitutional investors, invested $425 million in 2006 after $190million of investment in 2005.
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