LOS ANGELES--(BUSINESS WIRE)--Arc Capital Partners LLC (“Arc Capital Partners”), a Los Angeles-based boutique commercial real estate platform, announced today that Michael Downes has been appointed Managing Director - Head of Asset Management, a new position within the firm. Downes will oversee the firm’s growing portfolio and will work with the originations team in identifying and executing new investments.
“Michael brings almost 20 years of institutional-quality experience to our team based upon a tremendous amount of asset management, leasing and development knowledge,” said Neville Rhone, Managing Partner of Arc Capital Partners. “Just as importantly, Michael’s experience as an operator enhances our ability to sponsor acquisitions directly while continuing to pursue joint venture relationships in our primary strategies within value-add multifamily, urban infill retail and creative office repositioning.”
Arc Capital Partners was founded by Quincy Allen and Neville Rhone to pursue value-add and opportunistic investments in properties that benefit from millennial demand growth. Primarily focused on the Western U.S., the firm has already invested in three of the top ten markets for millennials: Austin, Denver and San Diego.
Prior to Arc Capital Partners, Mr. Downes was a Managing Director at Watt Companies, a leading real estate developer and operator based in Los Angeles with a 65-year history. Mr. Downes previously worked with Messrs., Allen and Rhone at Canyon Capital Realty Advisors as a senior member of the asset management team that oversaw a portfolio of more than $2.5 billion of real estate.
About Arc Capital Partners LLC
Arc Capital Partners LLC is a Los Angeles-based boutique commercial real estate platform co-founded by Quincy Allen and Neville Rhone to target middle-market investments ($10 – $50 million in size) in high-demand locations that are expected to benefit from rapid millennial population growth. The firm focuses on value-add and opportunistic assets across the Western U.S. in need of recapitalization, repositioning or development capital.