Southern California's Real Estate Landscape: Key Developments and Industry Movers

This week in California, the real estate industry has seen significant movements across companies and leadership roles, signaling strategic growth and expanded services in various sectors, including commercial, healthcare, and multifamily assets. Here’s a snapshot of these key developments.

Lee & Associates Expands in Pasadena

Lee & Associates has launched a new property management division in its Pasadena office, aimed at improving services throughout Los Angeles, Orange, and San Bernardino counties. The division will cater to diverse commercial asset classes such as office, mixed-use, and industrial spaces. Led by Christopher Larimore, with Tish Childs as the director of property management, this expansion aims to consolidate Lee & Associates' presence in Southern California’s robust market.

Cushman & Wakefield Bolsters Healthcare Division

In a strategic move to strengthen its healthcare real estate sector, Cushman & Wakefield has welcomed Matthew Melendres as a senior associate in its Southern California Healthcare Advisory Practice. Operating out of San Diego, Melendres brings expertise from his tenure at Colliers, focusing on the leasing and sales of medical buildings—a crucial area given the ongoing demand for healthcare facilities.

CalHFA Welcomes New Director

The California Housing Finance Agency (CalHFA) has named Stephanie McFadden as the new director of multifamily programs. Bringing years of experience in affordable housing finance, McFadden is set to oversee a team that achieved a record $2 billion in lending last fiscal year. Her expertise will be pivotal in managing the growing needs for affordable housing across California.

New Ventures and Acquisitions

Sands Investment Group (SIG) has announced Jonathan Silver as the new VP of investment sales advisor. Silver, an expert in net leased properties and 1031 exchanges, will enhance SIG’s capabilities in handling complex real estate transactions, particularly for high-net-worth clients. Additionally, Hamilton Zanze's partnership with Limekiln Real Estate Investment Management marks a significant venture into securities with the acquisition of the Freddie Mac K-165 transaction’s “B piece.”

ExchangeRight Hits Investment Milestone

ExchangeRight has successfully fully subscribed its All-Cash 7 DST, featuring a $24.8-million portfolio of properties backed by necessity retail and healthcare sectors. This marks a significant achievement for the firm, reflecting strong investor confidence and a strategic focus on stable, income-producing assets.

ACRE SoCal’s Year of Philanthropy and Growth

Under the leadership of Roxanne “Roxy” Klein, ACRE SoCal has not only fostered industry networking and collaboration but also made substantial contributions to the community. The organization’s $30,000 donation to various nonprofits highlights its commitment to making a positive impact beyond real estate.

Bottomline

As the real estate landscape in Southern California continues to evolve, these developments provide a glimpse into the strategic directions companies are taking to adapt and thrive. Whether you're looking to invest or find your next business opportunity, connecting with the industry's latest can provide crucial insights. If you're considering a move in the vibrant Southern California real estate market, let’s connect and explore how these trends can benefit you.

Reference: Bubny, Paul. "California People and Company News, Week of Dec. 13, 2024." ConnectCRE, December 12, 2024.