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| Bill McConaghy |
Orlando, FL (June 23,
2016) – Bill McConaghy has joined
29th Street Capital (29SC) as Vice President of Multifamily Acquisitions for
Florida.
McConaghy is responsible for all facets of the
privately-held real estate investment and advisory firm’s multifamily
acquisitions and asset management strategies in the state.
His first task will
include helping 29SC expand into the Orlando market, acquiring value-add
apartment communities there, and in Central and South Florida.
“We are extremely excited
to have Bill join us and expand our national footprint by opening our tenth
office,” said 29th Street Capital Managing Director Robert Bollhoffer.
“Bill has many years of
experience in the Florida market and a great fundamental understanding of the
multifamily acquisition and management process.
"We look forward to growing our
platform in Florida with him and bringing our investors the types of
transactions that they have come to expect from our group.”
McConaghy is a 13-year
veteran of Florida’s commercial real estate market. Most recently, he was
President of his own consulting and brokerage firm, Strategic Acquisition
Initiatives, Inc.
His duties included
serving as Vice President of Economic Development at consulting firm Strategic
Development Initiatives, Inc., or SDI, where he worked on CRA economic policy
and Public Return on Investment (PROI) model development and underwriting
analysis.
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| Robert Bollhoffer |
He also led a multi-million dollar industrial
acquisition fund for another client. Before that, he spent two years as Assistant
Vice President of Acquisitions for private equity fund Laramar, where he was
instrumental in creating a Florida acquisition strategy resulting in the
addition of almost $200 million of multifamily properties and bank notes to the
firm’s portfolio.
“What an amazing
opportunity to join this emerging entrepreneurial team,” McConaghy said. “29th
Street Capital is focused primarily on value-add multifamily acquisitions. We
are starting with Central Florida and surrounding areas and are open to all
major and secondary Florida markets for the right opportunity.”
In addition to sourcing
and completing acquisitions, his responsibilities at 29SC will include complete
oversight of the projects inclusive of selecting third-party management,
overseeing all capital projects, marketing/design and dispositions.
Formed in 2009, 29SC is a
privately-held real estate investment and advisory firm that employs a
value-added investment strategy on properties that are below the radar of
institutional peers. 29SC’s current portfolio consists of 6,000 units and it
has acquired over 7,400 units across its nine offices in the U.S. Investments
typically require approximately $2 to $12 million of equity per deal, and
involve the acquisition or recapitalization of real estate assets, portfolios
or platforms.
For a complete copy of the company’s news
release, please contact:
Terri Thornton
Partner, Thornton
Communications
p:404-932-4347 |
e:Terri@TerriThornton.com | w:www.TerriThornton.com
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