TORRANCE, CA--(Marketwired - May 11, 2015) - Storm Properties Inc., a leading developer, owner, and manager of residential, industrial and commercial properties, announced today it has hired Joseph Kim as director of finance. In his new position, Kim will be responsible for the company's financial functions and will lead financial reporting, capital markets, tax, investor relations and financial planning and analysis.
"Joe has extensive capital markets expertise and a deep understanding of our residential, commercial and industrial real estate businesses, making him an excellent addition to our senior leadership team. We look forward to leveraging his expertise and relationships to support our longer-term goals, which is an invaluable asset as we continue our aggressive growth path," said Jay Ahluwalia, president of Storm Properties.
Prior to joining Storm Properties, Mr. Kim was the head of regional accounting at Invitation Homes, a Blackstone Group company. Over his career, he has held positions as tax manager, vice president of finance and chief financial officer for both public and private firms, including KB Home and Meritage Homes. He has a Bachelor's degree in Accounting from the University of Wisconsin and a Master's in Business Administration from the University of Southern California.
Storm Properties currently operates a diverse portfolio of industrial and retail properties, and is targeting significant growth through further acquisitions. Its efforts are focused on core-plus to value-add retail and industrial properties in the $5-million to $30-million range in major Western metro markets. Additionally, Storm has a current development pipeline of more than $100 million, and is seeking additional land opportunities for residential entitlement and commercial/industrial development.
Storm Properties has been actively engaged in the acquisition, development, management and sale of industrial, commercial and multifamily real estate for more than 40 years, having successfully developed more than one million square-feet of industrial and commercial buildings, and more than 45 residential projects and communities.
Storm Properties is a subsidiary of Torrance-based Storm Industries Inc., an innovative and entrepreneurial organization with a growing family of companies. Over its 83-year history, Storm Industries has evolved from a single brass foundry in Los Angeles to a highly diversified group of businesses operating across the globe.
For more information, contact Alan Kwan at (310) 986-2432, or via email at AKwan@storm-properties.com, or visit the company's revamped website at www.storm-properties.com.