|By Marketwired .||
|March 26, 2013 12:00 PM EDT||
TORRANCE, CA -- (Marketwire) -- 03/26/13 -- Storm Properties, Inc., an active acquirer, developer, owner and manager of industrial and commercial property primarily focused on Southern California, has appointed Alan Kwan as acquisitions manager.
In his new position, Kwan is responsible for originating and identifying value-add real estate investment opportunities for the firm, ranging from income-producing industrial and multifamily assets to residential and multifamily development for Storm Properties' sister company, Storm Western Development, Inc. In addition to sourcing new acquisitions, he handles investor relations.
"We are delighted to have Alan on our team. He has an impressive breadth of experience in acquisitions, both as investments and for development, which will contribute to our aggressive growth path," said Jay Ahluwalia, president of the two Storm entities.
Alan Kwan brings more than 10 years of financial, real estate and transactional experience to Storm's team. Prior to joining Storm, Kwan worked at Los Angeles-based Rexford Industrial, LLC, where he was responsible for acquisitions, dispositions, and financing activities for more than 36 value-add and opportunistic industrial real estate acquisitions. He also previously held acquisitions and asset management positions at The Garrett Group, LLC, and McGladrey Capital Markets.
Kwan is a graduate of the University of California, Irvine, and earned a Certificate in Construction Management at the University of California, Riverside. He is a licensed California Real Estate Broker.
Storm Properties has been engaged in the development, management and sale of industrial, commercial and multifamily real estate for more than 40 years, successfully developing nearly 1 million square-feet of industrial and commercial buildings. The company currently operates a diverse portfolio of industrial, retail, and multi-family properties and land, and is targeting significant growth through further acquisitions. Storm Western Development has built over 400 residential units and is actively developing several residential communities in the Southern California region.
Both firms are subsidiaries of Torrance-based Storm Industries, Inc., an innovative and entrepreneurial organization with a growing family of companies. Over its 80-year history, Storm has evolved from a single brass foundry in Los Angeles to a highly diversified group of businesses operating across the globe.
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