The principals, Erik Hansen, John Parker, Russ Parker and Lee Redmond, say they have formed the firm to capitalize on current market opportunities. They plan to purchase four or five projects in the first year of operation, which they will then upgrade. The firm will focus mainly on office and industrial projects, corporate dispositions and brownfield property opportunities.

Parker Hansen has already obtained commitments from a number of institutional financing sources, according to Erik Hansen. "Collectively, we've cultivated a number of relationships with brokers and institutional sources over the years and we plan to work with those sources to target transactions in the range of $5 million to $50 million," he adds.

Hansen was previously the managing partner and senior vice president of the Southern California region of Legacy Partners Commercial. Redmond and the Parkers are founding principals of Parker Properties, which specializes in developing leading edge, tenant-driven office campuses.