SAN FRANCISCO—Carmel Partners has promoted Daniel Garibaldi to managing partner, development & construction.

“Dan and the team he has built have consistently created value for Carmel through the design and construction of high quality developments,” said Ron Zeff, CEO of Carmel. “Under Dan's leadership, Carmel has committed to develop 9,500 units in 22 properties with a total capitalization of over $3.4 billion.”

Garibaldi, 45, most recently senior vice president, development, re-joined Carmel in 2010 to lead all development activities. Prior to that, he was senior managing director for Trammell Crow Residential (TCR), leading all entitlement, financing and development activities in its Northern California Division. He joined TCR in 2004 and broadened development beyond apartment communities to include for-sale housing. Previous to TCR, Garibaldi was a partner at Carmel where he led acquisition efforts in the Pacific-Northwest. During his first tenure at Carmel, he acquired and repositioned apartment communities and led the firm's entry into condominium conversions. Prior to Carmel, Garibaldi was a senior associate in U.S. Bancorp Piper Jaffray's Investment Banking Division where he led equity offerings and M&A assignments for companies in the online and financial services industries.