Real estate secondaries firm Liquid Realty Partners has appointed former mortgage specialist John Arens as director.
Arens was formerly vice president of publicly-traded real estate investment trust Redwood Trust, managing the firm’s residential investment services as well as supporting its mortgage subsidiary. Prior to Redwood, Arens was managing director of Dorado Corporation, a software provider for banks and lenders. Arens, who started last week, will be based in the firm’s headquarters in San Francisco.
Scott Landress, managing principal and chief executive officer of Liquid, said Arens would provide the firm with key real estate financial skills.
As increasing numbers of limited partners reassess their portfolios in the wake of the credit crunch, Landress said the secondaries market was expected to grow rapidly.
Liquid closed the largest dedicated real estate secondary fund on $572 million (€369 million) last December. Since being founded in 2001, Liquid has made more than $1 billion in closed equity investments.
For more information on the secondaries industry, read the July/August issue of PERE magazine coming soon.