Matthew Bothwell

President & CEO

Bothwell Co

Bothwell Company was founded on the lineage of the Bothwell Family. Matthew Bothwell, President and CEO, is a third-generation builder-developer with strong ties to the San Diego community. Matthew has over 15 years of experience in all aspects of real estate development, investment, management, and construction. He received his MBA in Finance from Santa Clara University and his undergraduate B.S. Degree with a concentration in Land and Appraisal from California Polytechnic State University, San Luis Obispo.

1. With all the economic/market volatility lately have you been changing your growth plan?

Yes, plans to hire are delayed.
2. Have you been looking into ADUs?

Yes
3. Your highest return amenity currently is…

Parking
4. I have adopted/are looking at AI for this function?

Reduction in items sent to legal.
5. Office/Apartment conversions: Have you seen any of them work?

Almost done with one, it works but its not been easy.
6. Vacation, concert, show, ball game… Any fun end of the summer plans coming up?

My 7 yr old son was invited to meet the Padres starting lineup and I get to tag along.

 

Anthony Luna

CEO

Coast Line Equity

Anthony A. Luna is the Chief Executive Officer of Coastline Equity, a commercial real estate advisory and property management firm based in Southern California. Anthony's strong technology background has enabled him to establish a highly productive operating system that maximizes the talents and experiences of his Property Management team. He brings a unique blend of real estate and technology expertise, ensuring Coastline Equity is well-positioned to deliver exceptional service to its clients.

1. I have adopted/am looking at AI for this function:

At Coastline Equity, we’ve integrated AI as a tool to support our team across several key areas. AI assists us in streamlining access to our Standard Operating Procedures (SOPs) and Proven Processes/Best Practices. This ensures that our team has instant, easy access to the information they need, enhancing efficiency and consistency in decision-making and operations.

AI also plays a significant role in our team's tenant communication thanks to custom GPTs we've built and rolled out. We use AI-driven systems to handle tenant inquiries and draft personalized communication, including letters and notices. This not only improves response times but also ensures that communications are accurate and aligned with our best practices, maintaining the high standard of service we strive for.

By incorporating AI, we’re empowering our team to focus more on high-value tasks while ensuring that our processes remain robust and tenant interactions are handled with care and precision.

 

Curtis Cullen

Managing Principal

Convolo Capital, LLC

 

1. With all the economic/market volatility lately have you been changing your growth plan?  

Fewer deals with tighter margins across the industry. If we can’t offer a competitive risk-adjusted return within our target acquisition buy box, then it simply equates to fewer offerings to our investor base.

2. Have you been looking into ADUs?  

No. We are strictly a multifamily shop.

4. I have adopted/are looking at AI for this function 

Investor communication QC & final edits

5. Office/Apartment conversions:  Have you seen any of them work?

Only in LA, and I’m skeptical of their ROC
6. Vacation, concert, show, ball game… Any fun end of the summer plans coming up? 

We just wrapped up a major backyard landscaping remodel project, so we’re enjoying spending time at home!

 

Robert Foster

Managing Director

Courage Housing

Robert has executed and structured impact investments across a variety of stages and sectors. Robert helped structure a $2.1B housing transaction as the Executive Director of Accelerating Market-driven Partnerships (AMP), an investing initiative launched by Secretary Hillary Clinton at the State Department and executed in partnership with the U.S. Secretary of State, the Rockefeller Foundation, the World Bank, the Aspen Institute, and Fortune 50 companies. ​ Robert has also structured and raised a $1MM Women’s Empowerment Loan Fund, a fund that made low-cost loans to underrepresented women business owners. He has also worked as an analyst with Underdog Ventures, one of the nation’s top five impact investing venture firms. Robert has acquired, refurbished, and co-opeated 12 units over the past 10 years, 11 of which are in partnership with Antony. Robert is a board member of the Kroc School of Peace Studies at the University of San Diego. Robert earned his MSc from Oxford University.

1. With all the economic/market volatility lately have you been changing your growth plan?

At Courage Housing, we're closely monitoring economic volatility, but our core growth plan remains unchanged. In fact, we're gearing up for acquisitions as the market softens. Here's why:

• Our focus on secondary markets like Spokane, Tacoma, and East Denver/Aurora positions us well to weather economic headwinds.
• Economic uncertainty may bring more distressed properties to market at attractive valuations.
• Less competition could allow for better deal terms.
• Our 5-7 year investment horizon lets us look past short-term volatility.
• Refugees have historically shown high labor force participation and strong rent payment records, even during downturns.
• Our non-profit partnerships provide a steady tenant pipeline, reducing vacancy risk.

While we're cautious in underwriting, we see the current market as an opportunity to acquire assets below replacement cost in our target markets. We're building relationships to act on compelling opportunities that align with our mission and return objectives.

 

Kelly Hernandez

COO

Fairmont Management

Kelly Hernandez is the Chief Operating Officer of Fairmont Management Inc., an owner/operator of conventional multi-family housing in LA and Orange counties. Kelly began her career in property management as a leasing agent, moving up the ladder on-site before transitioning to a corporate role in accounting and human resources with Fairmont in 2006. After earning her Bachelor of Science in Accounting from Cal Poly Pomona and an MBA in Finance from Azusa Pacific University, Kelly advanced through the organization to her current role as COO. She combines her real-world property management experience with her education in accounting and finance. Kelly also holds a CPM designation IREM and has successfully ensured the prosperity of Fairmont’s assets, effectively navigating the various challenges faced by the industry over the years. Kelly is married to Nathan Hernandez, owner of Commercial Glazing Contractors Inc., and together they have four children. While their children were young, Nathan and Kelly enjoyed volunteering for their sports teams and continue their quest to bring positivity to the lives of children by playing the roles of Santa and Mrs. Claus at a toy drive serving disadvantaged families.

1. With all the economic/market volatility lately have you been changing your growth plan?

Yes.  Higher interest rates, slower market rent growth and lingering consequences of Covid-era tenant protections over the past couple of years impacted our financing strategy, which has in turn postponed acquisition plans. 

2. Have you been looking into ADUs?

We briefly entertained the idea, but have not made any serious inquiries into the feasibility of ADUs at any of our assets.

3. Your highest return amenity currently is…

Managed wifi.  We have built our own infrastructure and manage the network in house.

4. I have adopted/are looking at AI for this function

We use various degrees of AI for marketing decision, marketing descriptions, leasing and training.

5. Vacation, concert, show, ball game… Any fun end of the summer plans coming up?

My most exciting end of summer events planned are Friday night lights.  My son is a senior and starting outside linebacker on a team ranked within the top 20 high schools in the state.  Aside from looking forward to some good football, I plan on savoring every last sunny weekend and warm summer evening.

 

Jay Miller

CIO

Forum Capital Advisors

Over 30 years of real estate investment experience with demonstrated success developing and executing business strategies, and managing teams and systems. As CIO, Jay oversees the firm’s real estate investment team, chairs Forum’s investment committees, and is responsible for driving the firm’s continued growth through multifamily equity and debt investment opportunities. Prior to joining Forum, Jay spent 16 years with DWS Group, a global asset management firm, where he was co-lead portfolio manager for the DWS flagship open-ended investment fund and, previously, lead portfolio manager for the firm’s value-add investment fund. Before that, Jay served as Executive Director, Corporate Solutions at JLL, a global real estate services firm. Jay was also an attorney with Orrick, an international law firm serving the technology, energy, and financial sectors, as well as Gordon & Rees, LLP. Jay holds a Bachelor of Arts degree in English & Religious Studies from the University of Virginia and a Juris Doctorate from Washington and Lee University School of Law. He currently sits on the Executive Board of the Real Estate & Construction Council for the City of Hope National Medical Center. Jay was an Independent Director and Audit Committee Chair at Shelton Capital Management from 2002 to 2014.

 

 

Joe Anfuso

CFO

MG Properties

Joe is responsible for the financial and fiscal management of company operations, including budgeting, treasury, tax, accounting, information technology, risk management, and insurance. Prior to joining MG Properties in 2015, Joe was previously CFO and Director of Development with ColRich, COO/CFO of Florsheim Homes, and CFO of Shea Homes San Diego, and worked for the international firm Deloitte & Touche. Joe earned his BBA in Accounting and MBA from the University of San Diego and is a Certified Public Accountant in addition to possessing a California Real Estate Brokers and General Contractors License. Joe is an adjunct professor of Real Estate Finance at the University of San Diego and a member of Residential Real Estate Committee for Burnham-Moores Center for Real Estate at USD. Recognized as an industry expert, he has been a frequent contributor on CNBC television and industry-leading podcasts and panel discussions, offering insights on housing and real estate.

1. With all the economic/market volatility lately have you been changing your growth plan?

No real change to our growth plan. We believe buying opportunities are improving, so trying to be selective, regarding the age, location and condition of the property.
2. Have you been looking into ADUs?

No, we do not participate in that space.

3. Your highest return amenity currently is…

Dog Parks and Well-done Fitness Centers with 24 hour access

4. I have adopted/are looking at AI for this function

The Leasing and Collections Process

5. Office/Apartment conversions: Have you seen any of them work?

Not in our locations. The cost to convert can be significantly higher to convert an office than starting from the ground up.

6. Vacation, concert, show, ball game… Any fun end of the summer plans coming up?

Gong to see Bruno Mars in Las Vegas!

 

Mark Weinstein

President

MJW Investments

Mark J. Weinstein is the President and Founder of MJW Investments. After beginning his career as an attorney, Los Angeles native Mark J. Weinstein founded MJW Investments in 1983 when he discovered the potential of real estate investment and development through several successful ventures. Under his leadership MJW has acquired approximately one billion dollars of real estate holdings in all asset types. In addition, Mark spearheaded the adaptive reuse of Santee Village, one of Los Angeles’ largest adaptive reuse projects of over 800,000 square foot of mixed use in the Fashion District of Downtown Los Angeles. His passion for and expertise in property repositioning is a guiding factor in the company’s growth and success. Mark is the majority owner of the firm’s $1BN diversified real estate holdings. More recently, Mark led the firm’s strategic growth into student housing and amassed a portfolio of student housing properties at Michigan State, Washington State, Brigham Young University, UC Santa Barbara, Oregon, Arizona State and Texas Tech. The firm continues to expand its National multifamily portfolio. Student Housing Magazine named MJW Investments one of the Top 25 Owners and Managers of Student Housing in 2017. Throughout his career, Mark maintains active associations and leadership with numerous civic and philanthropic groups. These include a three-year term as Chair of the Jewish Federation’s Real Estate Construction Division, serving as the Chair of the Real Estate Division and LA Council for AIPAC; and active associations with the Young Presidents Organization (YPO), the Guardians, an agency dedicated to serving the elderly. Mark holds a Bachelor of Arts degree from the University of California at Santa Barbara (Summa Cum Laude) and a Juris Doctorate from Loyola Law School (Dean’s List).

1. With all the economic/market volatility lately have you been changing your growth plan?

We are being more conservative in predicting future growth

2. Have you been looking into ADUs?

I have bid out several ADU projects from my properties. Many make sense others don’t pencil

3. Your highest return amenity currently is…

Club house have good returns

4. I have adopted/are looking at AI for this function

We use Ai with leasing and tracking

5. Office/Apartment conversions: Have you seen any of them work?

I have done many office/industrial conversions to apartments. They only work with very low basis and better construction pricing9. Vacation, concert, show, ball game…

6. Any fun end of the summer plans coming up?

Went to Aspen and spending time in Malibu

 

Zihao Wang

CEO & Principal

Motiva Holdings

Zihao Wang is the Founder and CEO of Motiva Holdings, a real estate private equity firm that specializes in lower middle-market multifamily investments across the US. At MH, Zihao manages over $0.5B AUM and leads the acquisition and development processes, ensuring that each investment aligns with the firm's strategic vision and delivers optimal returns for investors. Zihao attended MIT and is actively involved in the Urban Land Institute (ULI) and other real estate associations.

1. With all the economic/market volatility lately have you been changing your growth plan?

On the acquisition side, we became more conservative on underwriting. We believe it's a great time to buy, but most sellers are not meeting our price expectations, so we continue to stay patient, waiting for a great buy. On the operations side, we've been heavily focusing on expense cutting. Given that revenue growth is softening and uncontrollable costs like insurance are rising, our vertically-integrated property management team became much more stringent on controlling expenses to ensure minimal impact on NOI.

2. Have you been looking into ADUs?

Yes. We built the first detached ADUs on multifamily lots in Anaheim (12 detached ADUs).

5. Office/Apartment conversions: Have you seen any of them work?

I haven't seen that many conversions work due to construction costs being too high and conversions are still expensive as you have to bring new MEP systems into the building.

6. Vacation, concert, show, ball game… Any fun end of the summer plans coming up?

Mountain hiking and enjoying SoCal sunshine

 

Dave Christensen

Regional Director - Northwest

Red Oak Capital Holdings

1. With all the economic/market volatility lately have you been changing your growth plan?
To help us prepare for now for 2025 we are looking are where concessions are, property insurance availability, changes to HUD impact agency loan originations and how we can help increase the availability of affordable housing.

3. Your highest return amenity currently is…

I have adopted/are looking at AI for this function.

 

Jay Moss

President

Real Estate Dimensions, INC.

1. With all the economic/market volatility lately have you been changing your growth plan?

Too early to tell

2. Have you been looking into ADUs?

In the SFR world ADU units make sense on big enough lots.

4. I have adopted/are looking at AI for this function

Not at this time

5. Office/Apartment conversions: Have you seen any of them work?

Apartment conversions have been around awhile especially in high density locations. Conversions of malls and commercial buildings are beginning to happen for residential units.

6. Vacation, concert, show, ball game… Any fun end of the summer plans coming up?

Only work related visits to Chicago and Santa Fe.

 

Jared Wheeler

Vice President of Acquisitions

Sack Capital Partners

1. With all the economic/market volatility lately have you been changing your growth plan?

No, we are still looking to acquire and feel like the market has bottomed.

2. Have you been looking into ADUs?

Yes. We are building both ground up ADU’s and conversion of tuck under parking in conjunction with a seismic retrofit.
3. Your highest return amenity currently is…

Most valued amenity are our dog parks.
4. I have adopted/are looking at AI for this function

We use AI to do quick reviews of legal docs, regulatory agreements, etc.
5. Office/Apartment conversions: Have you seen any of them work?

We have not been active in this space
6. Vacation, concert, show, ball game… Any fun end of the summer plans coming up?

Chasing toddlers!

 

John Ward

CEO

Turnstone Capital

John Ward is responsible for overall operations at Turnstone Capital, including investment decisions and business strategy. Throughout his career John has worked in numerous areas of real estate including mortgage lending, both primary and secondary marketing of Fannie Mae mortgage-backed securities, real estate development (including new construction and renovation), and multi-unit apartment acquisition and renovation. His specialties include acquisition, due-diligence, financial evaluation, and management oversight. John has personally sponsored the purchase and renovation or new construction of over 600 projects, ranging from single family residential to 460-unit apartment complexes. John, his wife, and two children reside in Manhattan Beach, California.

1. With all the economic/market volatility lately have you been changing your growth plan?

***Growth plan is the same, but we still have not been able to find a deal in our target markets where the bid ask is such that we are able to lock it up. We continue to underwrite multiple deals weekly, but only very recently are we seeing prices that make sense to us in this market. The business plan of buying multiple assets in multifamily that produce good cash flows and good potential to increase in value over the hold period, has not changes, the availability of these deals has been absent for 1.5 years...

2. Have you been looking into ADUs?

***We have three ADU projects in progress. Each are over time schedule and slightly over budget, but we purchased them when rates were lower and the higher rates has negatively affected the exiit cap rate and exit value. We hope to have a better market when we eventually sell them.

3. Your highest return amenity currently is…

***laundry

4. I have adopted/are looking at AI for this function

***Great for investor summaries, great to take raw data in T-12 and entering that data onto summary excel spreadsheets, great for any data research, great for scrubbing the internet for info, great for converting written word into graphs, tables, etc, and finally, great for converting text visualizations into pictures...

5. Office/Apartment conversions: Have you seen any of them work? 

***not involved, but watching closely, as this is an area that will be a phenomenal market in states with housing shortages or high- priced unit costs.

6. Vacation, concert, show, ball game… Any fun end of the summer plans coming up? ***Next weekend is the annual Catalina Classic 32 mile "prone" paddleboard race. I will be competing and then heading to El Salvador over Labor Day weekend for some relaxing and hopefully great surfing!!! The training for the race has been long and stresssful and I can't wait for it to be done :)

 

Andrew Cushman

Founder & Principal

Vantage Point Acquisitions, LLC

Andrew Cushman is a former chemical engineer who found his entrepreneurial calling in real estate. In 2007, Andrew left his corporate position to start a business in real estate investment, starting off flipping single family properties in Southern California. Sensing a shift in the market, in 2011 Andrew transitioned to multifamily acquisitions and has successfully syndicated and repositioned over 2,600 multifamily units. He is a frequent guest and panelist on Real Estate podcasts and educational forums. Outside of the business world, Andrew has been a certified alpine ski instructor and when not working in real estate enjoys surfing, backcountry skiing, and trying to not be outwitted by his two young children.

1. With all the economic/market volatility lately have you been changing your growth plan?

No, but it has been delayed since we have not been able to make acquisitions as planned.

2. Have you been looking into ADUs?

No.

3. Your highest return amenity currently is…

Good quality management😉 Probably dog parks in terms of literal ROI.

4. I have adopted/are looking at AI for this function

We're using it internally to help with editing documents, doing transcriptions, etc. We're also testing AI based leasing agents at several properties.

5. Office/Apartment conversions: Have you seen any of them work?

No.

6. Vacation, concert, show, ball game… Any fun end of the summer plans coming up?

Just surfing on a regular basis!

 

Register Today: Southern California Middle-Market Multifamily Forum on September 26, 2024 in Dana Point, CA