LAGUNA NIGUEL, CA-Locally based multifamily specialist Raintree Partners has hired a new director of asset management in a move that reflects the company’s plans to expand its growing portfolio of West Coast properties. The new exec is Matthew J. Novobilski,who has worked in asset management for more than 15 years and most recently was director of asset management for Beverly Hills-based Kennedy Wilson.

Raintree CEO Jeff Allen says that the company’s “rapid growth through our recent series of acquisitions has created the need to hire additional staff to manage our much larger portfolio, as well as to source additional acquisitions.” He adds that Novobilski’s skill set―specializing in multifamily asset management, construction oversight, property operations and financial analysis―is directly aligned with Raintree Partners’ company objectives.

Raintree has also promoted Scott C. Baxter to the position of associate. Baxter, who has served at Raintree Partners since 2008, previously held the position of analyst, in which he was responsible for financial modeling, conducting market and economic research, preparing financial reports and writing investment committee presentations. In his new role, he will continue to support Raintree’s acquisition efforts through underwriting prospective deals, coordinating due diligence activities, and working with brokers and owners regarding potential acquisitions.