Los Angeles multifamily developer Cityview is launching a New York City office to pursue investment opportunities on the East Coast and internationally.
The firm hired Christoph Donner as a principal and global head of capital development and strategy, tasked with launching the firm's new outpost. Donner will lead the development of new investment funds, manage the firm's capital strategy, head the firm’s investor relations team and oversee the growth of the New York City office.
Donner will "expand our national and international relationships while pursuing strategic development and value-add acquisition opportunities for the firm," said Sean Burton, CEO of Cityview, in a press release.
Donner’s hire comes at a time of growth for Cityview as it aims to raise money around the world to buy and develop more multifamily properties. The firm is currently deploying capital from its recently closed seventh discretionary fund.
Cityview focuses on multifamily housing in gateway markets in the Western U.S. The firm has approximately 6,000 multifamily units, 1,600 of which are in active renovations and 2,000 of which are under development. The company has an office in Los Angeles and Dallas.
The U.S. multifamily market continued a strong rebound in demand during the fourth quarter of 2024, with tenants moving into 110,000 more units than they moved out of, and vacancy levels remaining relatively flat at 8%. That brings full-year demand for 2024 to 553,000 units, a 68% increase over 2023's total and the strongest total since 2021.
Global perspective
Donner was previously CEO of America for Pimco Prime Real Estate, formerly Allianz Real Estate, where he guided the firm's commercial mortgage loan business and equity investments in North America, growing the segment from $7 billion to $22 billion.
Prior to that, he was a senior managing director and chief credit officer at Aareal Capital, where he managed a portfolio totaling $5 billion.
He has also served as managing director at Hypo Real Estate in New York, London and Munich; head of project finance at Vivico Real Estate in Frankfurt, Germany; and as a vice president at Deutsche Bank in Frankfurt.
Cityview has been deploying capital from a recently closed discretionary fund by making several acquisitions in recent months. It purchased the recently completed Silva, a 221-unit complex in the Silver Lake neighborhood of Los Angeles, in August for $110.25 million.
The firm is adding to its portfolio through development, too. Cityview recently topped off a 265-unit complex apartment community set to open at 12888 Crenshaw Blvd. in Los Angeles’ South Bay next year.
“The fundamentals of multifamily continue to be strong, and I look forward to broadening Cityview’s national and international relationships,” Donner said in a statement.