Mountain Real Estate Capital, a buyer of residential development assets, has opened its new office in San Diego and hired Lisa Albanez as managing director.
The hiring and additional office are meant to lead the firm's expansion effort in the western region of the United States, the company said in a release Monday. Mountain Real Estate said its focus in the West will be in both primary and secondary markets throughout Southern and Northern California as well as the Las Vegas, Phoenix and Seattle markets.
“Lisa has a solid reputation and is well known in our industry," said Peter Fioretti, the firm's CEO. “We are very fortunate to add Lisa to our West Coast group to help us aggressively expand our presence in the marketplace."
According to Mountain Real Estate, headquartered in North Carolina, Albanez' experience in the industry dates back 20 years, and she has been involved in residential projects totaling over 40,000 new homes with a retail value in excess of $10 billion.
Also a private equity source for real estate land developers and homebuilders, Mountain Real Estate Group reports its equity fund to be valued at roughly $1 billion.