Industry Executives Launch New Multifamily Platform
Brian Metzler and Graham Carpenter have created PENLER, an investment firm that has committed enough capital to complete more than $800 million in development and acquisitions.
Graham Carpenter and Brian Metzler
Real estate veterans Brian Metzler and Graham Carpenter have teamed up to create PENLER, a new multifamily investment firm. Headquartered in Atlanta, the company will focus on the acquisition, development and asset management of apartment communities across the Sun Belt region.
Former managing director of Development for Pollack Shores Real Estate Group, Metzler was responsible for developing more than 10,000 apartments totaling $1.7 billion. Previously serving as the senior vice president of Acquisitions at Simpson Housing, Carpenter was responsible for $2.4 billion in transactions encompassing more than 9,000 units. Metzler and Carpenter overlapped for six years leading different divisions at Pollack Shores. The partners have a collective 30-plus years of real estate experience, having closed more than $5.3 billion in multifamily investments and development, comprising more than 28,000 units.
PENLER has committed enough funds to complete more than $800 million in development and acquisitions. Metzler will handle the company’s development efforts, focusing on fee development opportunities. Carpenter will handle the acquisition division, looking for properties that will provide consistent long-term cash-flow and add sustainability to the platform. The firm plans to add a head of asset management, development lead and chief financial officer later in the year.
“The blend of seasoned development and acquisitions skills coupled with institutional-quality asset management sets PENLER apart,” said Metzler, in a prepared statement. “This balance, which allows us to capitalize on all phases of the real estate cycle, typically only exists at larger organizations.”
Images courtesy of PENLER
