San Francisco, California, July 10, 2014 — Carmel Partners (“Carmel”), the real estate investment management firm, today announced that Michael LaHorgue has been named to the newly created position of President, effective immediately. LaHorgue is based in the firm’s San Francisco headquarters and reports directly to Ron Zeff, founder and Chief Executive Officer of Carmel.
“Mike and I have known each other professionally for over 30 years, with our real estate careers spanning several cycles during significant change and growth in the marketplace. Over the last year Mike has worked with Carmel in the role of Strategic Advisor. He has contributed to our platform tremendously by helping to refine our internal processes and overall vision. His leadership has been both invigorating and value-add. It became apparent to all of us that his real estate expertise and values aligned completely with our own, and I am pleased that Mike has joined Carmel Partners,” said Mr. Zeff.
As President, LaHorgue will also serve as a member of Carmel’s investment committee and executive committee. Carmel specializes in multifamily real estate investment strategies in the U.S. Earlier this week, Carmel held the final closing of its fifth U.S. multifamily value creation fund that was oversubscribed on its $1.025 billion hard-cap.
“Carmel has an outstanding record of success through a variety of market environments, and I am honored and excited to join such an exceptional company. I have the utmost respect for Ron and appreciate his smart, ethical, business abilities. My objective is to help Carmel build on the long history of success and support senior management in what they do best – creating investor value in all aspects of our real estate business,” said Mr. LaHorgue.
LaHorgue has over 30 years of institutional and private real estate investment experience. He has spent his career located in San Francisco, most notably 9 years with Shorenstein Properties, a national owner of Class A office buildings and the sponsor of closed-end real estate investment funds. At Shorenstein,LaHorgue served as President of Shorenstein Realty Services, the firm’s property services subsidiary, and in that role oversaw and directed the day-to-day activities of the Leasing, Property Management, Construction, Accounting, Human Resources, and Operations groups, as well as the ground up development team.
In 2001, LaHorgue founded and led the private real estate investment company, Seaview Ventures, LLC, which has been active in many aspects of multifamily and distressed real estate investment. The firm focused primarily on buying and renovating apartment and condominium properties in Northern and Southern California.
About Carmel Partners
Founded in 1996, Carmel Partners is a sector-specialist in real estate investment management. Carmel seeks superior risk-adjusted returns across varying market cycles by adhering to a philosophy of specialization in U.S. multifamily investments and execution of value creation strategies through a vertically integrated platform. Currently, Carmel manages approximately $3.6 billion in real estate assets for over 60 institutional investors including many of the nation’s leading endowments, foundations, pension plans and family offices. Headquartered in San Francisco, Carmel has offices in Los Angeles, Irvine, Seattle, Denver, Honolulu, Washington D.C. and New York. For more information please visit www.carmelpartners.com