Multi-Housing Capital Advisors Launches

LOS ANGELES-Industry veterans Curtis Palmer, Herb Chase III and Peter Sherman have launched a new firm called Multi-Housing Capital Advisors Inc., a full-service brokerage company specializing in the acquisition, disposition and financing of multifamily properties throughout the country as well as an expertise in student housing. The firm, which plans to execute more than $500 million in transactions before year end, will provide institutional investment sales, debt and equity financing services to apartment owners, developers, pension fund advisers, financial institutions and insurance companies.

The principals of the new firm, who have completed than $20 billion in sales and financing transactions, note that Multi-Housing Capital Advisors has recently expanded its capabilities as a correspondent DUS lender, facilitating Fannie Mae, Freddie Mac and HUD loans. Its principals’ clientele include institutions such as ING Clarion, Prudential Real Estate Investors, Westar Associates, US Bank, AIG Global Real Estate, Bank of America, Blackstone, Goldman Sachs, Morgan Stanley, Aimco, Bear Stearns and JP Morgan.

Palmer observes that clients today “are demanding a greater degree of sophistication and creativity when it comes to delivering long-term investment strategies.” Among the services that the new firm offers are investment property sales, single-family and apartment land sales, note sales, acquisition, bridge and mezzanine financing, joint venture equity placement, portfolio and asset recapitalization.

Among the transactions the company’s principals have executed are the $75 million sale of the 120-unit Tuscany Los Angeles adjacent to the campus of the University of Southern California, the $146 million sale of a 418-unit portfolio near the University of California campus at Berkeley, the $27 million sale of the 60,000-square-foot City Place retail center in Santa Ana and the nearly $21 million sale of On Broadway, a mixed-use property consisting of 33 units, 36,715 square feet of retail space and a 275-car parking garage in Downtown San Diego.