SOURCE: The Picerne Group

The Picerne Group

October 21, 2014 19:04 ET

The Picerne Group Hires Executive Vice President

Real Estate Veteran Michael Massie to Oversee Development in Southern California

SAN JUAN CAPISTRANO, CA--(Marketwired - Oct 21, 2014) - The Picerne Group has hired Michael Massie as executive vice president. Massie is responsible for overseeing the privately held real estate investment firm's development in Southern California.

Before he joined The Picerne Group, Massie was the development director at Jamboree Housing Corporation, where he oversaw project and business development and completed more than 3,000 multifamily units throughout California. Massie also led an initiative to start Jamboree's in-house construction management and general contracting firm.

"I've always been drawn to new ways of looking at the world," said Massie. "The idea of being a part of The Picerne Group and working with this dynamic, entrepreneurial team that thinks about real estate development in innovative ways was simply too compelling. I'm looking forward to working on Picerne's impressive pipeline of projects."

Massie specialized in the acquisition of Low Income Housing Tax Credit Properties for syndication as vice president for Related Capital Company (now Centerline Capital) and worked with an array of developers, financial sources and markets in the acquisition of more than 100 properties totaling more than $300 million of equity investments in 10 states. Massie also worked with Forest City Residential and the property management division of Michaels Development Company.

Massie holds a bachelor's degree in economics with concentrations in real estate and finance from The Wharton School of the University of Pennsylvania.

About The Picerne Group
The Picerne Group (TPG) is a privately held, Southern California-based real estate investment firm that focuses on real estate investments nationwide, as well as best-in-class asset management. TPG has successfully invested more than $1 billion in real estate equity and debt, diversifying investments across a variety of property types and geographies in the United States. The firm's executive committee members combined have decades of experience in managing complex portfolios of residential and commercial real estate, joint ventures and loans. Additional information is available at www.picernegroup.com.