LA Multifamily Finance

Chris Tourtellotte serves as a Managing Director of LaTerra. Chris is responsible for overseeing the Development group, sourcing and closing new acquisitions, sourcing debt and equity for LaTerra’s projects, and growing LaTerra’s apartment and mixed use development platform, which currently includes over 3,000 apartment units either under construction or in the pipeline. Prior to joining LaTerra, Mr. Tourtellotte spent 7 years at Prudential Global Investment Management (PGIM), a global real estate private equity investment fund manager with over $50 billion of gross assets under management. Most recently at PGIM, Mr. Tourtellotte held the position of Director, overseeing all development activity west of the Mississippi River with over 20 development deals at a total cost basis greater than $1 billion. Prior to Mr. Tourtellotte’s role overseeing West Coast development, he spent 5 years on the West Coast acquisitions team where he worked on closing over $1 billion in acquisitions across all property types (multifamily, office, retail, industrial, and hotels) and all layers of the capital stack (senior debt, subordinate debt, preferred equity and equity). Chris co-founded SnowGlobe Music Festival, which was ultimately acquired by MTV. SnowGlobe is a world-renowned annual music festival (featuring the largest musical acts in the world) drawing over 50,000 attendees over the three day event. Mr. Tourtellotte was responsible for raising the capital, and structuring and negotiating the investment documents prior to the inaugural 2011 festival. Mr. Tourtellotte was selected for Real Estate forum’s 50 under 40 list. Mr. Tourtellotte holds a Bachelors Degree in Business Administration (Cum Laude) with a double concentration (Finance & Accounting) and a minor in Real Property Development from California Polytechnic State University, San Luis Obispo, CA.

Mr. Noah Hochman is the Senior Managing Director of Capital Markets for TruAmerica Multifamily and brings 18 years of real estate investment and private equity experience to his role. Mr. Hochman is responsible for sourcing equity capital, investor relations and debt strategy across the portfolio and oversees joint venture structuring and partnerships. Mr. Hochman is also a member of the firm’s Investment Committee. Prior to joining TruAmerica Multifamily, Mr. Hochman served as Vice President of Acquisitions and Dispositions at Triumph Management Company. Prior to joining Triumph, Mr. Hochman served as Vice President of Acquisitions for Granite Peak Partners. Mr. Hochman holds a Bachelor of Arts in Economics from UCLA and is a graduate of the Anderson Graduate School of Management Mergers & Acquisitions Program at UCLA.

Henry Manoucheri’s successful real estate career spans over 30 years. Henry began his career at Marcus & Millichap in 1985 and became one of their top brokers, being recognized throughout California as well as nationally. He has brokered over $500,000,000 worth of transactions in apartment buildings, office buildings, industrial properties, shopping centers and land. After leaving M&M, Henry launched his own privately held acquisitions business, as principal. In less than six months the number of apartments owned grew 200% from 400 to 1,200 units. Having demonstrated a detailed knowledge of acquisitions, operations and construction, Henry was able to partner with Bank of America to acquire and renovate a large apartment community in Carlsbad, CA. The asset was acquired at a purchase price of $50,700,000 with $10,500,000 in equity from Bank of America and $1,200,000 of equity from high net-worth investors. After successfully renovating the property and enhancing day-to-day operations, Henry sold the property four years later for $78,000,000 generating a profit of nearly $9,500,000 for himself and his investors. From this point forward a career of buying significant, well located apartment communities in Southern California began, acquiring 100+ unit properties throughout Los Angeles, Inland Empire, Ventura and San Diego County. Trisail of Bank of America and Urdang Advisors completed 10 large transactions with Henry over a successful 10 year relationship with acquisitions ranging from 200 to 450 units on transactions of $20 million to $70 million. This provided the economic platform for Henry to grow the portfolio to over 4,000 units. Additionally, Henry continued improving and refinancing smaller apartment communities, delivering 400 – 800% total returns to his investors over time. Henry, supported by research and analysis, sensed a changing marketplace and began selling select assets at record prices and cap rates from 2006 to 2008. The vast majority of sales were not used in trade, but rather to fund future acquisitions during the next down-cycle and to provide returns to investors. With over 30 years of experience in the business, Mr Manoucheri has been able to successfully navigate the company through difficult times by focusing on value-add propositions, detailed operations, and favorable financing opportunities, thereby profiting even during down cycles. This devotion to discipline, hard work , continuous examination of operating results and a hands-on approach has enabled Henry to deliver an average return of 22% percent annually across numerous assets, based on cash flow, and a return of over 60% per annum on assets sold. Currently the company is engaged in expanding its current holdings by acquiring new, value-add opportunities from various sellers, troubled borrowers, and financial institutions alike. Henry holds a BS in Finance and Real Estate from Cal State, Northridge, CA.

Rick Judge joined the Newport Beach office of Marcus & Millichap Capital Corporation (MMCC) in July 2000. As a Senior Vice President Capital Markets, Mr. Judge is responsible for securing commercial debt and equity financing for an array of property types. He is well connected with national, regional and local funding sources including, but not limited to, Agency Lenders (e.g. Fannie Mae, Freddie Mac), Commercial Banks, CMBS Lenders, Life Insurance Companies, private and public funds and Bridge Lenders. Mr. Judge has more than two decades of commercial real estate experience and has closed over $1 billion in transactions. He structures and negotiates financing programs for the following asset types: multifamily, retail, office, and industrial properties. Mr. Judge has received the Marcus & Millichap Sales Recognition Award 17 times. He also qualified for the company's National Achievement Award (NAA) in 2005. Mr. Judge is a graduate of Arizona State University, where he earned a Bachelor of Science degree in Communications.