DID YOU HEAR? EDWARDS IS NEW MONEY MAN AT CITYVIEW
A DAILY LOOK AT THE MOVERS AND SHAKERS IN COMMERCIAL REAL ESTATE
Khalif Edwards, a veteran real estate fund raiser, has joined Los Angeles-based apartment development and investment shop Cityview.
Edwards, who spent the past seven years with New York-based investment giant Clarion Partners, joins Cityview as the firm’s managing director of capital raising and investor relations.
Edwards’ new job will be to seek out investors, including pension funds, sovereign wealth funds and insurance companies willing to back Cityview’s focus on developing apartment communities in some of the West Coast’s fastest-growing cities. He’s also charged with upping Cityview’s profile among big national and international financial players.
Cityview partners with a variety of investors for their projects, including private family offices and major investors like Blackstone and Greystar.
“We are confident that the addition of Khalif to the team will help expand our investor base even further,” said Cityview CEO Sean Burton in a statement. “Khalif brings a wealth of industry knowledge and market insight.”
Edwards, a Stanford University graduate and a Columbia University Business School MBA, has an expansive resume. At Clarion, he led the firm’s West Coast fundraising efforts, bringing in more than $3 billion during his tenure. Before that, he had stints at TIAA-CREF and Merrill Lynch.
And rare among real estate’s money men, Edwards did a pull at one of the big commercial brokerages. He spent four years working at Eastdil Secured’s private equity capital raising group, gaining insight to how the top brokerages work.
“I look forward to working alongside some of the industry’s top real estate professionals,” said Edwards in a statement. “I’m honored to help grow the firm’s portfolio and relationships.”
Since its formation in 2003, Cityview has been involved in about 100 apartment projects up and down the West Coast. Their sweet spot is building or buying in West Coast cities with tight rental markets and big-time job growth like San Francisco, the Silicon Valley and Los Angeles.
Last November, Cityview opened The Pearl on Wilshire, a luxury 246-unit apartment building in Los Angeles’ Koreatown. Like many Cityview projects, it included ground-floor retail space that now houses an artisanal sandwich shop and a specialty coffee shop. The building’s amenities include a bocce court, yoga studio, dog walking services and dry cleaning pick-up and delivery.
In December of last year, Cityview and partner Blackstone sold the 238-unit Foundry Commons in San Jose, California. That project fetched $110 million, or more than $460,000 per unit.