Sunday, April 16, 2017

Raintree Partners Expands Rapidly; Adds Acquisitions and Operations Veterans to Bolster Growth in California

Annette Thurman
   LAGUNA NIGUEL, CA – Raintree Partners, a private commercial real estate investment company that acquires, develops and redevelops multifamily and mixed-use properties in California, has announced a recent growth milestone accompanied by an expansion of its acquisitions and operations team.

            “We have been extremely active in the market in recent months, increasing our existing portfolio by 25 percent,” explains Aaron Hancock, Managing Director of Raintree Partners.  “We now own nearly 5,000 units throughout California, and we continue to actively acquire assets that meet our investment criteria.”

            Hancock notes that Raintree’s acquisitions team has recently widened its scope to include smaller properties ranging from 25 units and larger.

            “We focused on larger assets for many years, however the market has shifted and we’re nimble enough to shift with it,” says Hancock. 

“We continue to draw upon our expertise in this multifamily niche in order to identify acquisition and development opportunities where we can create and maintain long-term value.”

            In addition to expanding its portfolio, Raintree is launching an intensive renovation program for its existing assets, with plans to implement more than $23 million in capital improvements portfolio-wide in 2017.

Ian Couwenberg

    “As property operators with an owner’s perspective, we recognize the opportunity to improve our assets strategically in order to grow rents, drive ongoing occupancy, and create the best resident experience possible,” explains Jason Check, Managing Director for Raintree Partners. 

            To maintain its active acquisition pace while conducting this capital improvement campaign, Raintree has added two industry veterans to its team, Ian Couwenberg as Director of Acquisitions, and Annette Thurman as Senior Director of Asset Management.

“Ian and Annette are seasoned professionals with the critical skills to continue our forward momentum while maintaining our high standards of excellence,” explains Check.

Ian Couwenberg brings a wealth of industry experience to Raintree.  Most recently serving as Vice President of Acquisitions and Dispositions for Sack Properties, Couwenberg began his career as a multifamily broker for CBRE, and has also been the Director of Investments at Equity Residential and Assistant Vice President of Acquisitions at Archstone Smith.

Annette Thurman boasts nearly two decades of experience in commercial real estate. Most recently, she served as Senior Vice President, Northwest at Alliance Residential Company, where she oversaw 82 assets consisting of nearly 20,000 units.  She also served in senior positions at Riverstone Residential and Fairfield Residential, LLC.  In her new role, Thurman will oversee Raintree’s capital improvement program and spearhead all asset management initiatives.

For a complete copy of the company's news release, please contact:
Elisabeth Manville/Jenn Quader
Brower, Miller & Cole
(949) 955-7940

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