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SAN FRANCISCO-Avant Housing LLC, a new real estate venture of AGI Capital, TMG Partners and the California Public Employees Retirement System has tapped as its first president Paul Nieto, who in 2004 launched the San Diego office of TMG. Avant Housing was launched last fall with $100 million of equity to invest in the development of urban infill housing in California.

As president of the company, Nieto will oversee the acquisition, entitlements process, design, construction, marketing and sales of all properties. Nieto will report to the board of directors which is comprised of Michael Covarrubias and Cathy Greenwold of TMG Partners and Alexis Wong and Eric Tao of AGI Capital.

At the time of Avant’s launch in October, TMG Partners chairman/CEO Michael Covarrubias told GlobeSt.com that using approximately 75% leverage the JV would invest $400 million over the next two or three years and that the JV would be completely liquidated in no more than six or seven years. The developments will be concentrated in nine Bay Area counties: Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano and Sonoma.

Prior to joining TMG, Nieto was president and CEO of ProjectDesign Consultants, San Diego’s largest planning, civil engineering, survey, environmental consulting and construction management firm. Nieto also served for 10 years as vice president for real estate for California’s largest agriculture company, JG Boswell Co., the parent company of EastLake Development, which he became president of in 1990.

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