Tre Banks Named Managing Director Of McCann Realty Partners

RICHMOND, Va. and HOUSTON, Sept. 10, 2014 /PRNewswire-USNewswire/ -- Tre T. Banks has joined McCann Realty Partners ("MRP") as a Principal and Managing Director. His responsibilities will be overseeing MRP's investments in the major Texas markets with particular focus on acquisitions, dispositions, and development programs.

Mr. Banks has 15 years of experience in the multi-housing investment business, the last 5 with Holiday Fenoglio Fowler, (HFF), a large commercial real estate and capital markets services firm, and the prior 10 years with CB Richard Ellis.  Since 2005, his experience includes participation in 323 transactions in Texas and throughout the United States with a total sales volume in excess of $8.4 billion in multi-housing properties.

"The experienced team at MRP has created an impressive brand in the market," said Banks.  "They have built a solid track record both as an operator and as a developer, and I look forward to furthering their existing relationships and building new ones, as we continue to provide above market returns to investors through opportunistic acquisitions and disciplined development."

"Tre's diverse transaction experience will greatly enhance our team and its ability to provide extensive market insight to our investors," said MRP President, Matthew Akin.  "With his long track record of institutional sales and his established relationships with industry leaders, Tre will expand our ability to find creative investment opportunities through both his understanding of apartment market fundamentals and his eye for value through acquisitions."

McCann Realty Partners and its principals have decades of experience and a consistent track record in the multi-housing industry.  John McCann, MRP's Chairman, was a former long-time CEO of United Dominion Realty Trust (UDR). Matthew Akin, MRP's President and former SVP with UDR, has expanded MRP's institutional experience through its development and acquisition joint venture platforms. 

Since inception, MRP has acquired 24 apartment communities totaling more than 6,140 homes in transactions valued at approximately $525 million. MRP has also completed or has under development 8 communities totaling 2,532 homes with an estimated completed value of $315 million.  The company has offices in Richmond, Virginia; Dallas, Texas; and, now, Houston. MRP teams with institutional capital to acquire, develop, redevelop and operate multi-housing communities in the Southeast, Southwest, and Mid-Atlantic regions.  The company is in the market continuously to acquire both Class A and value-add multi-housing communities, and is currently developing in Houston, Texas. 

For more information about acquisitions in Texas, please contact Tre Banks at (713) 898-0740, or if in the Southeast and Mid-Atlantic, please contact Thomas Upson, at (804) 290-8870. For more information about development, please contact Nathan Henry, Sr. Project Manager at (214) 363-6200.  Please visit www.mrpapts.com.

Contact: Fleet Wallace, McCann Realty, (804) 290-8870

SOURCE McCann Realty Partners, LLC