Los Angeles-based multifamily developer and investor Cityview is expanding its operations in the Southwestern U.S., targeting Texas, Arizona and Colorado with the opening of a new office in Dallas.
Using the new office as a base, Cityview intends to acquire both stabilized and ground-up properties in markets including Denver, Dallas and Phoenix, according to the news release. The company’s website also lists Salt Lake City and Austin, Texas, among its Southwestern targets.
“We are doubling down our efforts in Dallas, Phoenix, Denver and other fast-growing locations across the Southwestern U.S. due to their incredibly strong job and population growth, high demand and diverse economies,” said Sean Burton, CEO of Cityview, in the release.
Cityview and Westhome, its affiliated property manager, have been active in Colorado. The organizations’ websites highlight current and previous assets in Colorado, including:
- Uptown Broadway in Boulder, Colorado, a 116-unit property that Cityview sold in 2017, according to the Colorado Real Estate Journal.
- Deco Apartments, a 350-unit property in Denver built in 2019 and managed by Westhome.
To support the new operation, Cityview has hired Quinn Konitshek as its new director of acquisitions. Konitshek previously worked in multifamily acquisitions at New York City-based Kushner, where he sourced deals in Texas and the Southwest, according to the release.
“Dallas continues to rate as a top investment market with impressive job and population growth, which presents an incredible opportunity for Cityview to capitalize on the current market and increase acquisition activity in the region,” said Konitshek in the release.
These announcements are the latest during a rapid growth period for Cityview, which just closed its seventh discretionary fund. Earlier this month, the company promoted Damian Gancman, its chief operating officer and CFO, to chief investment officer.
Cityview’s recent acquisitions include Silva, a 221-unit property in Los Angeles’ Silver Lake neighborhood, and Tralee Village, a 130-unit property in Dublin, California. It also recently recapitalized 11 assets, and sold Elan Mountain View, a 164-unit property in Mountain View, California.
