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SAN FRANCISCO-MacFarlane Partners is in expansion mode. The locally based real estate investment manager with $11.7 billion under management has added a managing partner in its new Los Angeles-area office and its DC office, which opened this past summer, has a new principal. Earlier this year, MacFarlane expanded its headquarters leasehold at 201 Spear St. from 13,000 sf to 35,000 sf.
The new Los Angeles managing partner is Peter Houghton, most recently with Canyon-Johnson Urban Funds. As managing director of the new office, Houghton is responsible for MacFarlane's urban investment activities in Southern California. The assignment includes sourcing, negotiating and closing prospective investments, as well as overseeing development projects during their construction and stabilization. The company's ongoing projects in the region include two office-to-condo conversions (1100 Wilshire and Mercury) totaling 466 units and three apartment projects (Metropolitan Lofts, Hikari and Wilshire Vermont Station) totaling more than 800 units.
MacFarlane Partners founder and managing principal Victor MacFarlane was not available Tuesday afternoon for comment. In a prepared statement, he says Houghton's market knowledge and relationships "will help us maintain a significant presence in the region."
At Canyon-Johnson Urban Funds, a Los Angeles-based joint venture between Canyon Capital Realty Advisors and Magic Johnson, Houghton was VP of acquisitions. The job included structuring equity joint ventures, sourcing acquisition and construction debt, and originating mezzanine and senior-secured bridge loans. Prior to that, he served as a project manager for LCOR, a national real estate development firm.
In DC, MacFarlane lured to its office as principal Brad Dockser, most recently partner and chief operating officer for Western Development Corp., a retail and mixed-use development firm in the Washington, DC area. Dockser, a DC native, had primary responsibility for all aspects of Western Development's investment and development operations as well as its capital markets activities.
At MacFarlane, Dockser will be responsible for the company's urban investment and development activities in the Washington, DC area. Like Houghton, Dockser's work will include sourcing, negotiating and closing prospective investments, as well as overseeing development projects during their construction and stabilization. In addition, Dockser will serve as a key liaison with public officials and the firm's development partners in the creation of public-private urban renewal partnerships.
Prior to joining Western Development in 2003, Dockser spent six years with Starwood Capital Group, the last three as managing director of its European operations, where he oversaw investments, joint ventures and financing activities in France, Germany and other European nations. Earlier, he was responsible for the firm's Asian real estate investment activities.
MacFarlane is a partner of Forest City Washington in the planned redevelopment of Southeast Federal Center--a 44-acre annex of the former Washington Navy Yard along the Anacostia River, less than a mile southeast of the US Capitol Building. MacFarlane says the firm also is pursuing other investment opportunities in DC as well as in surrounding communities in both Maryland and Virginia.
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