Denver—Steele Properties LLC announced the addition of David Garcia as the firm’s director of acquisitions. Garcia’s role is to build upon the firm’s 2010 and 2011 growth by identifying and executing new affordable multifamily acquisitions. The firm expects to expand its national affordable multifamily property portfolio, which already includes over $250 million in acquisitions, sales and development activity involving 29 properties and nearly 2,700 units, including 18 tax credit projects. Garcia will manage Steele’s growing acquisitions team to strategically expand of the firm’s development activity, and to further the firm’s mission of increasing and improving affordable housing opportunities in vulnerable communities across the country.
Garcia joins Steele from his previous post as senior vice president of investments for Summit Housing Partners where he oversaw the acquisition and redevelopment of over $500 million of affordable and conventional multifamily communities nationally, and managed its 10 person acquisitions and development group. Prior to Summit, Garcia served as vice president of acquisitions at National Housing Development Corporation, a national nonprofit in Los Angeles.