A longtime multifamily finance executive is moving from the lending side of the business to the development front lines, joining a faith-based Los Angeles firm focused on addressing California’s housing shortage.
Logos Faith Development, a firm that specializes in redeveloping underused land owned by churches and other mission-driven groups into affordable and workforce housing, named Christopher Montes partner and chief investment officer.
Montes most recently served as a senior director at Walker & Dunlop, where he helped arrange capital for development firms, including Logos. He will now lead investment strategy and capital-raising efforts for Logos as it pursues an ambitious development pipeline across Southern California.
The hire comes as Logos sets a goal of delivering 2,000 new housing units by 2030. Montes, with a background in both market-rate and affordable multifamily finance, is expected to guide Logos’ efforts in securing equity and debt from private investors, government agencies and philanthropic sources.
“Making a positive social impact on underserved communities is very personal to me,” Montes said in a statement. “Logos’ distinct approach provides a solid foundation for us to achieve market-rate returns while also delivering much-needed housing. I’m excited to help scale this work and deepen relationships with the capital partners who can help us get there.”
Logos partners with faith-based landowners to convert underutilized parcels into residential communities. It was founded by Martin Porter, pastor at Quinn A.M.E. Church in Moreno Valley.
The development firm plans to convert 706 W. 85th St. in South Central Los Angeles, a property owned by St. Rest Friendship Church, into a 62-unit housing complex.