CARLSBAD, Calif.--(BUSINESS WIRE)--Alec E. Schiffer has been appointed managing director for the Western Division of Trammell Crow Residential. He will be responsible for land acquisition and all phases of multifamily real estate development.
“We are pleased to welcome a professional with Alec’s expertise to our development team,” said Garth Erdossy, senior managing partner of Trammell Crow Residential’s Western Division, who noted that the company is focused on the acquisition of new residential properties throughout the Western United States. “Alec’s broad experience in the acquisition of complex properties and deal structuring dovetails perfectly with our highly specialized staff.”
Most recently, Schiffer was with Strata Equity Group, Inc. of San Diego, serving as vice president of acquisitions. His responsibilities included asset management, acquisitions, dispositions and capital markets activities for a diverse portfolio including multifamily, retail, self-storage and land holdings in the Western U.S.
Earlier, he worked as a regional associate at a senior housing advisory firm and as a principal at a Southern California real estate investment and advisory firm. He holds a bachelor’s degree from the University of Colorado Boulder.
Trammel Crow Residential has $1.9 billion in its multifamily development pipeline, of which $580 million is in Southern California. The Southern California-based team has nearly 2,000 units under development and is actively looking for more multifamily development or joint venture opportunities. The team recently completed Stella, a high profile, mixed-use community in Marina del Rey consisting of 244 apartments and 9,000 square feet of retail.
ABOUT TRAMMELL CROW RESIDENTIAL
Trammell Crow Residential was founded in 1977 to develop, construct and acquire multifamily rental and condominium communities. Since inception, TCR has developed over 228,000 multi-family units in major markets across the country. Currently, the company owns 13,000 apartment units nationwide with an additional 9,000 new units planned for construction this year.
