Canyon Partners Expands Its Emerging Manager Program

PHOENIX, AZ – The Canyon Partners Real Estate-managed emerging manager program, the Canyon Catalyst Fund has expanded with the addition of Rincon Partners LLC to its roster of emerging managers.

As a full-service real estate investment and management firm, Rincon focuses on multifamily and self-storage properties in the Southwestern and Southeastern U.S. Established in 2015, Rincon is based in Phoenix, AZ and currently holds $334 million in assets under management.

Through the new partnership, Canyon will support Rincon’s growth, while leveraging Rincon’s local market expertise.

The new partnership has recently completed two multifamily acquisitions within the Arizona market; the 116-unit multifamily development, Paseo 51 Apartments in Glendale, AZ for $30.1 million and the 204-unit, class A multifamily development, Arrive North Scottsdale, for $82 million.

The partnership’s joint-investment in Paseo 51 Apartments will additionally encompasses interior renovations.

“We are thrilled with the opportunity to work with Canyon through its emerging manager program and are eager to tap into Canyon’s three decades of institutional knowledge to help Rincon scale its capabilities in our next stage of growth as a firm,” says Kirk McAllaster, president at Rincon. “With our first two acquisitions complete, we look forward to identifying more opportunities to invest in the rapidly expanding multifamily market here in Arizona and beyond.”

“Rincon is an exceptional addition to our Emerging Manager program with a capable and proven management team and an investment strategy which both aligns with and complements our platform,” says Maria Stamolis, co-head of real estate at Canyon. “Marking our first programmatic emerging manager relationship in Arizona, a market we are keenly focused on, we are confident in the value that this relationship will bring to both Rincon and the Canyon Catalyst platform.”