Mack Urban Launches Multifamily Management Affiliate–Mack Urban Communities
- May 12, 2014
Seattle—Mack Urban LLC, a partnership between New York’s Mack Real Estate Group and Los Angeles based Urban Partners LLC, announced today the launch of Mack Urban Communities, a new affiliate specializing in residential property management and leasing. At launch Mack Urban Communities is operating in Southern California and Seattle, two of Mack Urban’s primary target markets for development and investment.
“Mack Urban’s longer-term approach to development and investment necessitates a dedicated in-house management company that is aligned with our vision,” stated Paul Keller, Principal and CEO of Mack Urban. “When you approach investment with a multi-generation mindset, vertical integration of property management becomes an important component of our overall business model.”
“Mack Urban is developing an extensive portfolio of institutional quality, highly amenitized multifamily residential developments, for long term hold; we believe that our constant drive to maximize asset performance, both during lease up and upon asset stabilization, is best expressed by directly handling our own property management,” said Richard Mack, CEO of Mack Real Estate roup. “Further, investors have demonstrated their interest in vertical integration and with the creation of Mack Urban Communities, Mack Urban plans to respond to that demand.”
In rolling out Mack Urban Communities, Paul Keller also announced that they have hired Kathy Klingele as VP of Marketing and Creative Services and Jeff Cruz as VP of Operations for Mack Urban Communities.
Kathy Klingele is a recognized specialists and marketing VP who is credited with setting new leasing standards for the iconic Historic Gas Company Lofts and Pegasus Luxury Lofts, in Los Angeles. Jeff Cruz brings more than 23 years of expertise to Mack Urban Communities and will be responsible for staging and overseeing the success of each property.
Mack Urban Communities has already taken over management of Vivere (Phase I) in Anaheim, Union Village in Pasadena, Kavela in Seattle, and has begun the lease-up effort for Velo in Fremont. The company will continue to acquire additional management assignments as Mack Urban projects are completed.