Carmel Partners Announces New Partners and Promotions in Senior Management Team

San Francisco (April 1, 2019) – Carmel Partners, a leading investor in the U.S. multifamily market with a focus on development, renovation, and selective debt investments, is pleased to announce two recent additions to the firm’s senior management team, and several senior-level promotions.

Andy Sands, a veteran investor with over 27 years of real estate experience, has joined Carmel as Managing Partner, Head of Asset Management and Portfolio Strategy. Previously, Andy was a Managing Director at Lowe Enterprises Investors and head of its multifamily business, focused on acquiring and developing assets throughout the U.S.

Matt Golden joined Carmel as a Partner in the newly created role of General Counsel. Matt brings more than 25 years of experience in real estate law, having previously served as General Counsel for Beacon Capital Partners and, before that, as a Partner at Debevoise & Plimpton in its real estate practice.

Andy will report to Mike LaHorgue, Senior Managing Partner and President, and Matt will report to Dennis Markus, Senior Managing Partner and CFO.

Carmel is also pleased to recognize the following senior level promotions:

• Trey Hilberg, Head of Investments, joined Carmel in 2004 and was promoted to Partner in August 2018.

• Kim Hoeksema, Head of Development Execution, joined Carmel in 2006 and was promoted to Partner in August 2018.
• Dennis Markus, CFO, joined Carmel in 2012 and was promoted to Senior Managing Partner in March 2019.
• Liz Tennican, Head of Investor Relations and Research, joined Carmel in 2016 and was promoted to Partner in March of 2019.

Mike LaHorgue commented that, “We are fortunate to welcome Andy and Matt to the senior management team at Carmel. Andy brings deep experience to Carmel allowing us to utilize his skill set in the merged role of Head of Asset Management and Head of Portfolio Strategy. We are also pleased to announce the creation of a General Counsel position, and are privileged to have someone of Matt’s caliber in this role. Promoting Trey, Kim, Dennis, and Liz to these senior level positions reflects their continuous contribution to the success of Carmel.”

Founded in 1996, Carmel Partners is one of the nation’s leading specialists in real estate investment management, focusing on U.S. multifamily development and construction, and opportunistically, debt. Carmel seeks superior risk-adjusted returns across varying market cycles, executed through its vertically integrated platform in supply-constrained, high barrier-to-entry markets in the U.S. Since the firm’s founding, Carmel has bought and renovated or developed, or is in the process of renovating or developing, more than 41,000 apartment units with an estimated value in excess of $12 billion. Headquartered in San Francisco, Carmel has offices in Los Angeles, New York, Seattle, Denver, and Washington, D.C.  For more information please visitwww.carmelpartners.com.