Damian Gancman will oversee the operations of Cityview and its investments as it pursues multifamily buying opportunities during a highly active time for the firm
LOS ANGELES, Oct. 24, 2024 (GLOBE NEWSWIRE) — Cityview, a premier multifamily investment management and development firm, today announced the promotion of Damian Gancman to Chief Investment Officer (CIO). In his expanded role, Gancman will oversee the operations of Cityview and its investments, focusing on unifying its investment and asset management strategy and supporting Cityview’s growth as it pursues strategic acquisition, entitlement and development opportunities during an extremely active time for the firm.
“We see the current market as the best multifamily buying opportunity since the Great Financial Crisis, and Damian is the perfect fit to help us expand our acquisition resources, capitalize on present opportunities and oversee our investments,” said Sean Burton, CEO of Cityview. “The current distress and dislocation in real estate has been primarily caused by disruption in the capital markets and high interest rates, not the fundamentals of real estate or multifamily, which is why we’re both very active and highly selective in pursuing opportunities that allow us to acquire assets well below replacement cost.”
Cityview’s promotion of Gancman comes at a time when the firm is highly focused on deploying capital from its recently closed seventh discretionary fund while continuing to leverage co-investment and joint venture relationships to pursue strategic investment opportunities.
The firm has been extremely busy in recent months, with major transactions including the closing of Cityview’s most recent fund; the acquisition of Silva – a newly constructed 221-unit, Class A multifamily community in Silver Lake; the acquisition of Tralee Village – a 130-unit multifamily project in Dublin, California; two recap transactions totaling 11 assets; and the disposition of Elan Mountain View – a 164-unit multifamily project in Mountain View, California.
“We believe 2024 and 2025 will be strong vintage years, and I look forward to working with the Cityview team to capitalize on opportunities in the current market, expand our relationships with joint venture partners and strategically deploy capital from our latest fund,” said Gancman. “I’ve spent nearly two decades at Cityview and am deeply invested in advancing our continued strategic growth as we explore new deals, markets and opportunities for the firm.”
A 19-year veteran of Cityview, Gancman is also a partner and member of the firm’s investment committee. As Chief Operating Officer and Chief Financial Officer, Gancman oversaw asset management, property management and accounting. He also helped create a multitude of strategic initiatives to support Cityview’s rapid growth, including the launch of Cityview’s property management division, the creation of its opportunity zone fund platform and the build out of its finance and capital markets teams.
About Cityview
Founded in 2003, Cityview is a vertically integrated real estate investment management and development firm focused on multifamily housing in gateway markets in the Western U.S. Specializing in developing, acquiring, and operating opportunistic and value-add multifamily projects, Cityview creates sustainable housing options in transforming areas, changing cities into communities, people into neighbors and houses into homes. Cityview has invested in more than 130 projects to date. For more information, visit cityview.com.
Media Contact:
Jade Terry
Senior Communications Manager, Cityview
jterry@cityview.com
512-415-6923
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