SOURCE: Wood Partners

Wood Partners

June 23, 2010 09:10 ET

Wood Partners Expands Acquisition Team With Industry Heavyweights Curtis Walker and Don Foster

Plans for New Acquisitions Are Expected to Ramp Up With the Commercial Real Estate Veterans on Board, Giving Wood Partners a New Edge

ATLANTA, GA--(Marketwire - June 23, 2010) -   Wood Partners, L.L.C., one of the nation's largest multifamily developers, announced today the expansion of its acquisition team with the hiring of Curtis Walker and Don Foster. The well-respected investment executives will take senior roles with the company as it continues to bolster its acquisition capabilities. 

"This gives Wood Partners a tremendous advantage in a competitive market for existing multifamily properties," said Chief Financial Officer/Chief Operating Officer Joe Keough. "Our network of development partners in 13 offices nationwide gives us in-depth knowledge to perform superior on-the-ground research. Curtis and Don clearly enhance our in-house expertise as we move aggressively on the acquisition front."

Walker and Foster join National Acquisition Director Jay Jacobson, as they target top 20 metropolitan markets with an eye for out-of-favor markets with high population and job growth, while avoiding the currently more expensive high-barrier coastal and over-heated urban markets.

Curtis Walker brings over 29 years of experience in the real estate industry, where for the past 23 years he focused exclusively on the multi-family sector. He also held senior level positions in acquisitions at Trammel Crow Company in Atlanta, where he most recently served as Senior Vice President of the Southeast Region, and at Post Properties in Atlanta, where as Executive Vice President he oversaw $400 million in projects from 2005 to 2007. He also served as Senior Vice President of Fairfield Residential, LLC in Atlanta, where he was responsible for the acquisition of 4,000 units from 1998 to 2005. Prior to that, Walker spent 10 years at AMLI Residential where he was in charge of acquisitions for the southwest and southeast, directing the acquisition of more than 8,000 units and land sites for another 2,500 units. Additionally, he was a Senior Vice President for Metric Realty, which is now part of Blackrock.

Foster brings 14 years experience in multifamily acquisition and disposition, during which he was responsible for $1.5 billion in transactions across the Mid Atlantic, Southeast, Midwest and Texas. Over the last four years, he closed approximately $640 million -- or a total of 8,200 units -- in acquisitions as a Senior Acquisitions Officer at Harbor Group International, LLC in Norfolk, Va. Prior to that, he served as Senior Investment Manager for Dallas-based Archon Residential, part of Goldman Sachs. He began his career at United Dominion Realty Trust, Inc. in Richmond, Va., where he served as Assistant Vice President, Acquisitions/Depositions Officer. 

"Not only do Walker and Foster both have a tremendous amount of multifamily experience, having acquired billions of dollars worth of product, they also have an intuitive feel for real estate and what it takes to make good real estate decisions," said Jacobson. "Being able to differentiate between good and bad product is something that comes through years of involvement in real estate deals. You successfully buy and sell and underwrite so many times that it becomes instinctive -- you just know when it's wrong and when it's right. Both Curtis and Don bring these instincts to Wood Partners."

Walker will focus on the Southeast and Southwest, while Foster will cover the Mid-Atlantic and New England regions. Jacobson, in addition to working with Keough on capital raising efforts, will target top 20 markets West of Texas.

About Wood Partners

Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the development of more than 36,000 homes with a combined value of more than $4.5 billion in the Southeast, Washington D.C., Texas, Colorado, Nevada, Arizona and California. To learn more about Wood Partners, please visit our Web site at www.woodpartners.com.

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