CityView Looks Globally For Investors
- Apr 07, 2010
Dees Stribling, Contributing Editor
Los Angeles-based CityView, an institutional investment management firm focused on urban real estate, in-city housing, and other kinds of metropolitan infrastructure that was founded by former Housing and Urban Development Secretary Henry G. Cisneros, has started a major push to attract institutional investors globally. Spearheading the effort is Brad Barsily, whom the company has just hired as a senior vice president.
Previously, Barsily spent two-and-a-half years as a principal with Greenwich, Conn.-based Atlantic-Pacific Capital, a major private equity and real estate-focused placement agent. Before that, he was director of capital markets for Connell Finance Co. Inc., a New Jersey headquartered merchant bank.
In his new position, Barsily will identify capital partners to invest with CityView in various urban-based investment plays, including value-add multifamily acquisitions and distressed for-sale housing. The company also seeks to source and market structured mezz debt associated with urban investments. Barsily will establish an office for CityView in New York; besides its LA HQ, the company currently has offices in Dallas and San Antonio.
Now is the time to go after investment partners wherever in the world they may be, Barsily asserts. “We believe that our ability to source high-quality assets at prices reflective of seller distress, and operate them so that unrealized inherent value can be extracted, will resonate with a wide range of investor types,” Barsily tells MHN.
Though CityView is still regarded as an emerging manager, it has already invested equity for a number of name-institutions, such as CalPERS, LACERA, LACERS, LA Fire & Police and JP Morgan. There will be other partners for the company before long, says Barsily.
“We’re actively seeking to expand our base of capital partners to help us continue our growth,” he explains. “Real estate capital markets may not be fully out of the woods, but for highly differentiated strategies and experienced teams, we believe there will be sufficient investor appetite.”