ArrowMark Partners, based in Denver, and Western National Group, headquartered in Irvine, have joined forces to create a programmatic co-GP venture focused on investing in multifamily projects throughout Southern California. The partnership will provide general partner capital for the acquisition of existing multifamily communities and land sites for the development of new high-quality multifamily projects.
According to Michael Hayde, CEO of Western National Group, this venture will strategically utilize capital to gain control of unentitled land sites through creative structures with land sellers that allow for obtaining development approvals. This is an important milestone for ArrowMark Partners’ commercial real estate franchise as stated by Rob Brown, portfolio manager at ArrowMark Partners. He also expressed excitement about partnering with a highly experienced operator like Western National Group as they seek out investment opportunities in promising areas of the market.
Hayde further added that ArrowMark’s reputation for flexibility and responsiveness when it comes to commercial real estate investments makes them an ideal partner for their company. They are confident that this collaboration brings together the right combination of people, capital and expertise needed to achieve success within their markets.
The image shows Wood Canyon Villa apartments located in Aliso Viejo which is owned by Western National Group.
This article was originally published on Connect CRE.
