Cielo Vista - Fontana, CA
January 22, 2014
Press Release: Phoenix Realty Group Ramps Up West Coast Operations
- Two Join Los Angeles Office Team
LOS ANGELES/NEW YORK – R. Alex Saunders and Leslie A. Stephens have joined the Los Angeles office of Phoenix Realty Group (PRG) a national real estate owner, operator and fund manager, as managing director in the firm’s acquisitions group, and assistant vice president in the asset management group, respectively.
“We are thrilled to have Alex back at PRG, and Leslie brings a solid track record of enhancing the return on investment (ROI). Both are seasoned real estate pros who are integral to our ability to ramp up acquisitions in the West and take advantage of the current market,” said J. Michael Fried, founder and chief executive officer of the New York-based firm.
Saunders, who was one of the original co-founders of the firm’s Los Angeles office in 2003, left the firm in 2012 to form a boutique multifamily company and successfully acquired several multifamily properties in that capacity. He now returns to PRG to lead the firm’s western region acquisition activities and help drive the growth of PRG’s established multifamily platform. During his career, he has originated and closed more than 35 transactions, which includes both joint-venture investments and direct acquisitions representing approximately $250 million of equity and over $800 million in real estate. This resulted in the acquisition/development of more than 4,000 residential units.
Saunders currently serves as an adjunct professor within the Master of Real Estate Development (MRED) program at the University of Southern California. A 1995 graduate of the University of California at Irvine, he received his master’s degree in real estate development from the University of Southern California in 2003.
Stephens joins the firm as an assistant vice president of asset management with more than 17 years of asset management experience. As such, she is focused on maximizing the performance of PRG’s western region portfolio. This includes strategically identifying operational issues and overseeing intensive value-added renovation programs to strengthen both short-term and long-term return on investment for properties across the western region.
Prior to joining PRG, she served as the regional manager for Prime Group, Los Angeles, where she was responsible for more than 2,200 units. Previous positions include serving as a district manager for the commercial division of Nicolosi & Fitch in Tucson, Ariz., and as an asset manager at Sun America, Los Angeles.
In addition to holding a broker’s license, she is a member of the Institute of Real Estate Management and a Certified Property Manager (CPM) candidate.
About Phoenix Realty Group
Phoenix Realty Group is a national real estate investment manager and direct owner providing capital and expertise for the development and operation of rental and for-sale residential properties, low-income tax-credit housing, and mixed-use and commercial projects in urban areas across the United States. PRG currently manages more than $1.3 billion in assets and nearly 10,000 apartment units across the nation. PRG principals have invested in more than 1,000 multifamily properties representing approximately 130,000 apartment units and $12 billion in real estate over 30+ years.