Western National, ArrowMark Team on SoCal Multifamily Venture
Denver-based ArrowMark Partners, and Irvine-based Western National Group have formed a programmatic co-GP venture that will invest in multifamily projects throughout Southern California. The venture will provide general partner capital to acquire existing multifamily communities and land sites for the development of new high-quality multifamily projects.
Additionally, the venture will strategically use capital to secure control of unentitled land sites using creative structures with land sellers to obtain development approvals, said Michael Hayde, CEO of Western National Group.
This venture is another important milestone for ArrowMark Partners’ CRE franchise, said Rob Brown, portfolio manager at ArrowMark Partners. “We’re excited to partner with a long tenured best in class operator like Western National Group as we look to invest in opportunistic areas of the market.”
Hayde added, “ArrowMark’s reputation for flexibility and responsiveness in its commercial real estate investments makes it a great partner for the Western National Group. We are confident that this partnership is the right combination of people, capital and expertise to deliver success in our markets.”
Pictured: Western National Group’s Wood Canyon Villa apartments in Aliso Viejo.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).