Hunt Mortgage Group, a leader in financing commercial real estate throughout the United States, announced today that it has acquired the staff of 1410 Partners, LLC, an advisor to private and non-profit development firms for the financing of multifamily housing projects, to expanded its West Coast affordable housing team. John McAlister joins the firm as Managing Director, West Coast Team Leader, and Sean Spear has been named Managing Director.
McAlister and Spear will be based in a newly formed Pasadena, California office. McAlister will report to Paul Weissman, Senior Managing Director and head of the Affordable Lending platform at Hunt Mortgage Group. Spear will report to McAlister. McAlister was the Founder and Principal of 1410 Partners, LLC and Spear served as a Managing Director.
“The West Coast is an important growth area for affordable housing given the region-wide shortage of housing resources for its ever-growing population, and the increasing interest of its communities to address these needs,” commented Weissman. “Hunt Mortgage Group is eager to support these efforts by bringing our financial resources and extensive expertise – including our expanded team – to the table.”
“John and Sean are seasoned affordable housing finance experts who we expect to play a big role in helping Hunt Mortgage Group build its affordable housing platform on the West Coast,” noted James Flynn, Executive Managing Director and Chief Investment Officer at Hunt Mortgage Group. “The affordable multifamily housing market is growing nationwide and it’s a strong part of Hunt Mortgage Group’s legacy. We are pleased to add John and Sean to our team and look forward to drawing upon their industry expertise. We also intend to add at least one more senior level person to the West Coast team and a few support staff to fully serve the local market.” Hunt Mortgage Group is long-established in the affordable housing debt and equity finance markets, having sourced and originated affordable loans since the 1980’s.
“Our new affiliation with Hunt Mortgage Group enables us to expand our capabilities and offerings via direct access to Fannie Mae, Freddie Mac, FHA lending programs, and balance sheet loan capabilities,” said McAlister. “Our new combined entity makes us unique in the market. We can offer clients a more thoughtful approach to raising capital for affordable housing projects than any other firm.”
McAlister has served for nearly 20 years as consultant, advisor or underwriter on more than 250 different tax-exempt or taxable bond transactions. In addition, he has extensive experience with many conventional financings or the refinancing of multifamily housing projects. These deals included loans secured by Fannie Mae, Freddie Mac, FHA/HUD or other debt guarantors, bank or finance company private placements, or non-rated or rated bonds sold to institutional investors.
Prior to 1410 Partners, McAlister was a founder and Principal of M Squared Partners, LLC, a Los Angeles-based real estate investment firm which focused on the acquisition, financing and rehabilitation of multifamily properties. Earlier in his career, he served as President of Steadfast Companies, a diversified real estate investment and development firm based in Newport Beach and was a Managing Director at Newman & Associates. McAlister is a graduate of UC Davis and the Peter F. Drucker Graduate School of Management.
Spear additionally offers clients significant experience in financing and developing projects, and can provide leadership on governmental program-related issues. His distinguished public service career includes more than ten years as a top local and state government leader, serving successively in community development roles in: New York, San Francisco, Los Angeles, and in Sacramento for the State of California.
Spear also brings private sector experience from his time with Fannie Mae; then providing housing development and public financing resources across the Western United States. During his career, he served as the Executive Director to the California Debt Allocation Committee, administering the private activity bond program for California. Before joining CDLAC, Spear was the Director of Major Projects for the City of Los Angeles Housing Department (now HCIDLA); responsible for the City’s rental housing production programs. He holds two degrees from Cornell University and is a member of the worldwide Lambda Alpha Honor Society for land economics.
“Hunt Mortgage Group offers clients the most extensive variety of financing products to help them expand their businesses,” concluded Weissman. “The affordable multifamily housing market is growing rapidly and it’s a strong part of the Hunt Mortgage Group legacy.”
Hunt Mortgage Group offers debt for both conventional and affordable multifamily properties and is uniquely positioned in the multifamily arena with more than four decades of experience. Today, Hunt Mortgage Group is structured to maximize efficiencies with dedicated originations and underwriting teams to support its affordable, conventional, and small balance lending businesses.
The West Coast Team will be charged with bringing these resources to the seven western-most states, as well as continuing to provide financial consulting, deal structuring and management, equity investment procurement, and project development services for clients throughout the region.