Laguna Niguel, Calif.–based Raintree Partners has expanded its existing multifamily portfolio by 25% in recent months and now owns almost 5,000 units throughout California, according to Managing Director Aaron Hancock. To maintain this accelerated rate of growth and improvement, the investment firm has added two new directors to its staff: Ian Couwenberg, as director of acquisitions, and Annette Thurman, as senior director of asset management.
This property and portfolio expansion coincides with the Raintree acquisition team’s move toward acquiring smaller properties, which are 25 units and up. “We focused on larger assets for many years; however, the market has shifted and we’re nimble enough to shift with it,” Hancock said in a statement. “We continue to draw upon our expertise in this multifamily niche in order to identify acquisition and development opportunities where we can create and maintain long-term value.”
Couwenberg most recently served as vice president of acquisitions and dispositions for Sack Properties. He began his career as a CBRE multifamily broker and has also worked as director of investments at Equity Residential and assistant vice president of acquisitions at Archstone Smith.
Thurman’s decades of experience in commercial real estate encompass senior leadership roles at Riverstone Residential and Fairfield Residential. She served most recently as senior vice president, Northwest, at Alliance Residential Co. In her new role, she will oversee Raintree’s new renovation program for existing assets. Raintree is set to perform over $23 million in capital improvements on its existing investments this year.
“Ian and Annette are seasoned professionals with the critical skills to continue our forward momentum while maintaining our high standards of excellence,” Managing Director Jason Check added.
