Carmel hires BoA debt chief

The San Francisco-based private equity real estate firm has brought on Quinn Barton as the firm moves into debt investments. He will lead Carmel’s newly-opened New York office.

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.