In January, Cityview announced its expansion into the Eastern U.S. by opening a New York City office. Last week, it filled a major role there by bringing in Maggie Deichmann as the new managing director of East Coast acquisitions.
Deichmann will identify strategic opportunities on the East Coast for the Los Angeles-based real estate investment manager and will leverage her experience to help broaden institutional best practices across the firm, according to a press release. She has over 15 years of commercial real estate experience in acquisitions, portfolio management and asset management across the capital stack at various risk profiles.
Most recently, Deichmann served as managing director, head of opportunistic equity and structured products asset management for Affinius Capital, a real estate private equity firm based in San Antonio, Texas. She oversaw a $15 billion portfolio of existing opportunistic investments and structured products across housing, hospitality, logistics, media and mixed-use strategies, according to the release.
Deichmann previously worked at New York City-based Allianz Real Estate of America on its acquisition team, investing over $18 billion across housing, office and logistics strategies.
Cityview, which has traditionally pursued opportunities in the Western U.S., announced in June that it plans to pursue acquisition opportunities in Boston; Orlando, Florida; and Atlanta.
“We just made the decision that it’s a big country, and it was getting more and more challenging, frankly, to do things here in California,” Sean Burton, CEO of Cityview, told Multifamily Dive at the time.
But there are still plenty of reasons to be in California. “We are the fourth or fifth largest economy in the world on any given day, which means there’s opportunity,” Burton said. “But I don’t want to put the fate of the whole firm and our future growth and scaling and development in California’s hands.”
At the beginning of the year, Cityview brought in Christoph Donner as global head of capital development and strategy to run the New York office.
“The reason we opened a New York office was to have a New York team that could be close to those markets and understand the dynamics and move quickly,” Burton said.
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