SAN FRANCISCO (January 6, 2016) - MacFarlane Partners Chairman and Chief Executive Officer Victor B. MacFarlane and Capri Investment Group Chairman and Chief Executive Officer Quintin E. Primo III announced jointly that Kenneth T. Lombard, formerly vice chairman, partner and head of investments for Capri Capital Partners, LLC, the U.S. real estate investment advisory affiliate of Capri Investment Group, will be joining MacFarlane Partners as president effective January 15, 2016.
Mr. Lombard’s new role at MacFarlane Partners will include leading the company’s real estate investment management business, serving on its investment and senior management committees, and assisting with its expanding real estate development business, among other responsibilities.
In making the joint announcement, Messrs. MacFarlane and Primo sought to underscore the friendship and collaboration they have enjoyed for more than 20 years. As two of the most prominent African Americans currently in commercial real estate, it has been their joint mission to expand the participation of, and opportunities for, people of color within the industry. For example, the two co-founded the Real Estate Executive Council (REEC), one of the leading national organizations for senior minority professionals in the commercial real estate industry, in 2003, and are current REEC board members.
“Quintin and I have been friends and business associates for years, and I have tremendous respect for what he has accomplished,” said Mr. MacFarlane. “Ken’s desire to return to the property development side of the business is an ideal opportunity for both him and MacFarlane Partners.”
MacFarlane Partners, which has invested in numerous real estate development ventures throughout its nearly three decades as an investment manager, has increased its internal property development capabilities in recent years. Through its affiliate, MacFarlane Development Company, it is currently developing properties in urban infill areas of Los Angeles, the San Francisco Bay Area and Seattle.
“I believe Ken’s move will serve to not only bring our two firms closer together, but also enable us to create compelling and unique investment opportunities in commercial real estate development for our investors and clients,” said Mr. Primo. “We move forward from this change with great enthusiasm, embracing it on the basis of trust, respect and admiration for both Victor and Ken.”
Mr. Primo added, “Ken has made an invaluable contribution to Capri over the six years he has been with the firm. He has been especially helpful in managing key retail assets, such as the 900,000 sq. ft. Baldwin Hills Crenshaw Plaza regional mall in Los Angeles and Chicagoland Outlets, a to-be-built 400,000-square-foot retail project in the Chicago area. In addition, he has successfully sourced for us high-quality multifamily investments.”
“I have enjoyed my years immensely at Capri, working closely with Quintin and the other partners in the firm, which has proven to be an organization of considerable depth and breadth,” said Mr. Lombard. “I am looking forward to my new role with MacFarlane Partners and making an important contribution there. I have known Victor for over 20 years, having worked closely with him in a previous joint venture earlier in my career.”
Mr. Lombard has over 30 years of investment experience and was the co-founder and partner of Johnson Development Corporation from 1991 to 2003, during which time he served as president. In that role, he established pioneering real estate partnerships with Canyon Capital Realty Advisers (Canyon-Johnson Urban Funds) and MacFarlane Partners (Johnson MacFarlane Urban Partners), in which over $400 million was raised and over $2 billion in assets were acquired during his three years with the funds. Prior to becoming a partner with Capri Investment Group, he served as president of Entertainment for Starbucks Corporation from 2004 to 2008, with responsibility for running Starbucks’ successful entertainment division. He formerly served on the Board of Directors for the Timberland Company, where he chaired the Management and Compensation Committee. He currently serves on the Board of Trustees for Seritage Growth Properties, a publicly-traded REIT, where he serves as chair of the Compensation Committee and is a member of the Audit Committee.
In the management of retail investments previously overseen by Mr. Lombard for Capri Capital Partners—such as Baldwin Hills and Chicagoland Outlets—he will be replaced by Ross Glickman, president and chief executive officer of Capri Retail Advisors, LLC. Mr. Glickman, who joined Capri in 2014, is an industry veteran in retail development, leasing and property management, having previously been CEO of Urban Retail Properties and serving in senior positions at JMB/Urban and The Limited. In addition to heading Capri Retail Advisors, he also is president of Capri Retail Services, LLC, Capri’s property management affiliate, which currently acts as property manager and leasing agent for the Baldwin Hills mall.
Dori C. Nolan, partner, investments, who celebrated her 15th year anniversary with Capri in 2015, has been promoted to head of investments, and will replace Mr. Lombard in that capacity. Like Mr. Glickman, Ms.
Nolan is a commercial real estate industry veteran. She has been involved in real estate equity investment and commercial mortgage lending for more than 20 years.
About MacFarlane Partners
MacFarlane Partners is a real estate investment management and development firm with approximately $4 billion in assets managed on behalf of some of the world’s largest pension plans and institutions. Founded in 1987, the firm pioneered the urban investment concept among institutional real estate investment managers in the 1990s and today is a leading investor and developer of properties that promote smart growth, urban revitalization and sustainability in urban and high-density suburban areas nationwide. It is headquartered in San Francisco, with regional offices in Los Angeles and Washington, D.C. For additional information, please visit its website at www.macfarlanepartners.com.
About Capri Capital Partners LLC
Capri Capital Partners, LLC is an SEC-registered institutional real estate investment advisory firm, which has acquired or originated more than $10 billion in commercial real estate investments since its founding in 1992. The company is part of the Capri Investment Group, which is a group of affiliated real estate investment advisory companies doing business in the United States and overseas. Capri offers a broad spectrum of real estate equity and debt solutions to its clients through separate account, commingled fund and joint venture formats. Over its 23-year history, Capri has demonstrated experience investing in multifamily residential and commercial investments. Diversified assets managed on behalf of its pension fund and other institutional investors totaled approximately $3.34 billion as of September 30, 2015. Capri is headquartered in Chicago, with additional offices in Los Angeles and New York. For more information, visit the Capri Investment Group website at www.capri.global.