Three affordable housing industry executives have launched a new development and investment venture.
Founders June Park, Tyler Monroe, and Brian D’Andrea bring a combined 60 years of affordable housing experience to The Apex Collaborative.
Based in Los Angeles, the new company aims to take on both new construction and acquisition-rehab projects across the country.
“What sets us apart is the fact that individually we’ve all been in the industry for more than 20 years,” says Park, whose experience includes leading the acquisition, recapitalization, and rehabilitation of Section 8 properties nationwide. “We bring hands-on experience. With our combined 60 years of experience, we bring all the relationships, from West Coast to East Coast, to bring every stakeholder at the table to do great deals.”
Together, the partners have closed more than 80 new-construction and acquisition/rehabilitation transactions valued at $4.5 billion, developed over 4,500 units of new affordable and market-rate housing, and preserved more than 2,000 affordable units throughout the country.
The Apex Collaborative is poised to take on both new construction and acquisition-rehab projects, according to Park.
Monroe recently served as senior vice president at Thomas Safran & Associates, where he led the development of 28 projects totaling more than $1.1 billion in Southern California.
D’Andrea previously served as senior vice president at Century Housing, where he closed financing on 34 transactions valued at more than $1 billion, including housing for veterans.
The three partners bring complementary skills and experience, according to D’Andrea, who says he envisions the new company working on a mix of preservation and new-construction developments. The Apex Collaborative has been working on its first deals.
“The challenges of building affordable housing are well documented—it takes a long time, and it requires a lot of subsidy,” he adds. “We’ve operated and succeeded in that environment. We’re excited about trying to push the environmental and figure out new ways of delivering this important asset to the community.”
The new firm’s capabilities include acquisitions, development, architecture and engineering oversight, construction management, asset management, advisory, nonprofit administration, property management, and regulatory compliance.