Multifamily specialist Carmel Partners has hired Bank of America executive Quinn Barton as managing partner to head up the firm’s new debt group and led the firm’s newly-established New York office.
Carmel has created the role as it expands into debt for multifamily-related assets, specifically higher-yielding mortgage and mezzanine debt through loan purchases or selective origination.
Barton spent five years at Bank of America, most recently serving as managing director and head of commercial mortgage-backed securities (CMBS) trading. He has also worked for Natixis Real Estate Capital overseeing their trading and distribution of CMBS B-notes and mezzanine debt.
Carmel is currently investing its third fund, Carmel Partners Investment Fund III, which closed on $700 million in 2007 with a focus on the acquisition, development and renovation of multifamily properties.
Founded in 1992 by Ron Zeff, San Francisco-based Carmel targets multifamily investments in the US and is currently pursuing value-added apartment properties, ground-up developments and joint venture deals in Northern and Southern California, Seattle, Denver, Texas, Washington DC and Hawaii. The firm also has offices in Irvine, California; Denver; Seattle; Washington DC and Honolulu.