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EXCLUSIVE
Urban Partners Adds Executive, Anticipates Growth
By Natalie Dolce
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Walker tells GlobeSt.com that
While job growth in Los Angeles
is anemic as a whole, and
will continue to be a drag on
the velocity of this recovery,
certain high-tech market
sectors are expanding and giving
promise to better high paying
careers.
LOS ANGELES-With the recent addition of David Walker as vice president of capital markets, locally-based
Urban Partners LLC and Harbor Urban LLC is continuing its expansion. And according to Urbans founding
principal Paul Keller, anticipated growth is expected for 2013. Keller notes that the rm is even looking into the
prospect of further investment in additional asset classes.
Keller tells GlobeSt.com that they are looking into commercial and light Industrial urban inll as product types.
As economic cycles mature and evolve in the Five Gateway City Markets, we will expand investment activities
on a selected basis.
For now, Urban Partners, a privately held real estate investment and development rm, is best known for
developing transit-oriented, mixed-use projects in Los Angeles and nearby cities connected to the regions
light-rail transit system. Urban Partners and Harbor Urban currently have in excess of 3,000 multifamily units
within the West Coast Gateway Marketsunits that are in various stages from planning and entitlement, asset
management and disposition, Keller says.
Walker, a real estate veteran with more than 20 years of industry experience, will be responsible for the
procurement of debt and equity capital for all Urban Partners and Harbor Urban investment initiatives. Keller
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tells GlobeSt.com that his background in nance, capital markets and banking will provide the company with a
tremendous advantage in securing funding for projects and growing our portfolio.
He comes to us with both an understanding of the property ownership side of the commercial real estate business
and a deep knowledge of nancial markets, Keller adds.
Walker comes to Urban Partners/Harbor Urban after serving as the principal at Los Angeles-based Pacic Star
Capital, a shopping center real estate owner/operator with $250 million in assets. Previously, Walker was a
managing director in the Los Angeles ofce of RBS and headed the banks Western US Loan Originations
division. He has been president of JRK Birchmont Advisors, a $203-million equity fund headquartered in Los
Angeles with $1 billion in real estate assets, a managing director with Bear Stears and a director for Nomura
Capital investment Co. Ltd.
Keller tells GlobeSt.com that the Urban Partners low leverage asset capitalization strategy has allowed the
company to thrive.
Managing principal Matt Burton tells GlobeSt.com that the debt and equity markets have continued to evolve,
and with Urban Partners expanding platform, the need was apparent to have a dedicated team member to
facilitate transactions with thoughtful and deliberate intent.
On the subject of capital markets in Los Angeles, Walker tells GlobeSt.com that The debt market continues to
utilize conservative underwriting standards that have become the new-norm in the post-recession nance world.
Financial institutions are lending with more deliberate speed and placing more emphasis on the quality, and
overall capitalization of the operator/borrower/developer. Equity capital, while abundant, is nding the market
challenging where yields in many asset classes are disappointingly low. Equity continues to take a disciplined
approach to investing.
As for the multifamily sector in L.A., Walker says it continues to show positive signs of growth in a real estate
market that is experiencing very uneven economic recovery. He adds that While job growth in Los Angeles is
anemic as a whole, and will continue to be a drag on the velocity of this recovery, certain high-tech market
sectorslike Silicon Beach and markets on the Westside of Los Angelesare expanding and giving promise to
better high paying careers.
Categories: West, Industrial, Multifamily, Ofce, Retail, Acquisitions/Dispositions, Development, Los Angeles
Natalie Dolce Natalie Dolce, editor of the West Coast region for GlobeSt.com and Real Estate Forum, is
responsible for coverage of news and information pertaining to that vital real estate region. Prior to
moving out to the Southern California ofce, Natalie was Northeast bureau chief, covering New York City
for GlobeSt.com. Dolces background includes a stint at InStyle Magazine, and as managing editor with
New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of
beats Arthur Frommers Budget Travel magazine, FashionLedge.com, Co-Ed magazine, and has also
freelanced for a number of publications including MSNBC.com and Museums New York magazine. Contact
Natalie Dolce.
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