29th Street Capital Expands to Southern California; Richard Marshall to Source Multifamily Deals

San Diego, Calif. (September 2017) – Richard Marshall has joined 29th Street Capital as Acquisition Director for Southern California. Marshall is responsible for all facets of the privately-held real estate investment and advisory firm’s activity in the Southern California market, and will lead all multifamily acquisitions and asset management strategies there.

Marshall has over 14 years of real estate investment, development and asset management experience across a variety of asset types, including multifamily. Prior to joining 29th Street Capital, Marshall was an Asset Manager with Sabal Financial Group working with distressed debt and distressed real estate. In this role, he was responsible for all loan resolutions including: discounted pay-offs, loan restructuring, deed-in-lieu of foreclosure, foreclosure and litigation. Additionally, he was fully responsible for re-positioning, leasing, renovations and dispositions of all assets in his portfolio.

“Richard brings a tremendous amount of experience to 29SC and a strong knowledge of multifamily fundamentals throughout Southern California,” said 29th Street Capital Managing Director Robert Bollhoffer. “He has a remarkable entrepreneurial mentality and we look forward to supporting Richard as we expand into this region.”

Before joining Sabal, Marshall was part of Archstone Apartments highly-competitive post-MBA Management Development Program. In addition to working directly with on-site personnel, Marshall assisted with acquisitions and dispositions in Southern California as well as tax compliance in New York City. While working with a Receiver, Marshall oversaw a collection of apartment buildings in Santa Monica, California and was responsible for repositioning the properties. Prior to that, Marshall was Director of Real Estate acquisitions for Hanford Hotels, focusing on land acquisitions for hotel development.

“I am excited to join the 29th Street Capital team and begin to focus on multifamily acquisitions,” Marshall stated. “I believe there is great opportunity throughout Southern California and I believe a local presence will prove beneficial.”

In addition to sourcing and completing acquisitions, his responsibilities involve end-to-end oversight of projects including the selection of third-party management, supervising all capital projects, marketing/design and eventual disposition.

Marshall obtained a Master’s degree in Business Administration with a concentration in Business Leadership from the University of Notre Dame. He also completed his Master of Science in Real Estate from the University of San Diego. He obtained his Bachelor’s degree from California State University at Fullerton.

Formed in 2009, 29SC is a privately-held real estate investment and advisory firm that employs a value-added investment strategy in acquiring properties that fall below the radar of institutional peers. 29SC’s multifamily portfolio consists of over 7,600 units and it has acquired over 10,000 units across its 13 offices in the U.S. Investments typically require approximately $10 to $50 million of total capital and involve the acquisition or recapitalization of real estate assets, portfolios or platforms. Learn more about 29SC at www.29thstreetcapital.com.

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