Concord Capital Partners announced that Samuel Landman has joined the firm as Chief Investment Officer. The commercial real estate veteran will work on the acquisition, financing, and disposition of real estate assets to help drive the firm’s growth.
Landman brings to his new role at Concord Capital Partners more than 17 years of experience sourcing, acquiring, developing and structuring multifamily, industrial and office projects nationally and globally. As a key member of the Concord investment team, Landman will lead the firm’s corporate equity and debt strategies, focusing primarily on investor relations, partnerships and joint venture structuring.
“Concord’s success in the multifamily sector has been extremely impressive since its inception,” Landman said. “My goal is to support and augment the firm’s natural growth progression by introducing the firm to institutional investors, REIT’s, family offices, insurance companies, pension funds and sovereign wealth funds. We aim to double the portfolio within the next two to three years and double it again within five years.”
Landman’s hire is part of Founder and CEO Reuben Robin’s decision to refocus his firm’s investment strategy on Southern California. After a decade of success that saw the company build its local portfolio through the acquisition of 20 to 100-unit apartments buildings in and around Southern California, Robin shifted the firm’s investment strategy to acquiring institutional size multifamily assets out of state, primarily in Texas.
Over the last eight years, Concord has built a sizeable portfolio of more than 4,500 multifamily and student housing units, across six states. Over time, more investment capital followed Concord to Texas, increasing competition and driving up prices, making it more difficult to achieve the same attractive yields the firm was generating earlier, according to Robin.
“With much of the capital flowing to the sunbelt states, we are beginning to uncover attractive, risk-adjusted opportunities right here in California,” Robin said. “We plan to spend the next five to ten years building up a significant portfolio in Southern California, and Samuel, with his capital markets connections and knowledge of this market is going to play a role in realizing that vision.”
Landman comes to Concord from WealthStone, LLC where he served as vice president of capital markets responsible for sourcing and arranging equity capital and debt financing for a variety of joint ventures and partnerships across the firm’s portfolio. Previously, he was a senior executive at Los Angeles-based Universe Holdings, a multifamily investment and management firm which owns and manages a portfolio $1.5B AUM throughout Southern California and key East Coast markets.