NEWPORT BEACH, CA - Comunidad Partners, a vertically-integrated real estate investment firm that specializes in workforce and attainable housing communities in diverse neighborhoods throughout the Sunbelt region, has bolstered its investments platform with the appointment of Ty Barnes as its new Head of Investments. Within his new role, Barnes will leverage his strong relationships with property owners and brokers to lead the firm’s acquisition, capital markets, and portfolio management strategies.
“Ty Barnes brings a depth of knowledge, exceptional reputation, and long-term industry relationships cultivated over 20 years of investment experience, with leadership roles concentrated in the workforce housing sector,” says Antonio Marquez, Principal and Managing Partner at the firm. “We value his expertise and perspective as we continue to identify acquisitions like our most recent addition, Lakeshore at Preston Apartments. By exploring opportunities to enhance communities, we’ll be able implement a triple bottom line that will benefit our residents, investors, and the communities we serve.”
Lakeshore at Preston Apartments is a 302-unit garden-style multifamily property located in Plano, Texas. The recent Lakeshore acquisition comes as part of the Comunidad’s strategy to capitalize on strong market fundamentals in the Sunbelt region and reflects the firm’s ongoing commitment to growing its portfolio of workforce housing assets, Barnes notes.
Barnes, who most recently held senior roles with Tishman Speyer, Taconic Partners, Related, and WinnResidential, says: “Comunidad Partners is an exemplary organization that has become synonymous with quality workforce housing in the Sunbelt market. The firm’s strategy to preserve workforce housing through institutional and mission-based ownership in growth markets aligns with my past experience. I am looking forward to making a difference in communities that need quality housing for their first responders, health care providers, firefighters, police officers, and municipal employees.”
“I’m excited to join the team and look forward to continuing the firm’s strong track record of identifying and acquiring high-value assets that align with our preservation strategy in the Sunbelt market,” adds Barnes. “Comunidad’s mission to preserve quality workforce housing while implementing curated social impact services dovetails well with my background.”
Marquez says: “We’re pleased to welcome Ty to the team and excited to leverage his experience from previous leadership positions at firms like Tishman Speyer and Related. We believe his leadership and experience will bring a unique perspective to the company and help us discover innovative ways to serve our mission and grow our investment platform.”
In 2024, Plano, Texas, was ranked as one of the top four best cities in the U.S. to raise a family. The community’s prime location is one of the most sought-after submarkets in DFW due to Plano’s elite demographics, proximity to job centers, top rated school district and proximity to high quality retail, notes Barnes.
“There is a major single family home affordability crisis in Plano, which has a median home price of $545,000, with a down payment in excess of $100,000,” explains Barnes. “Coupled, these fundamentals are creating a high demand for institutionally owned and managed workforce housing. Lakeshore at Preston is uniquely set up to achieve strong occupancy rates and will benefit from Comunidad’s value-add plans to enhance classic units and exterior facelift, without causing financial pressures to residents.”
Lakeshore at Preston Apartments provides a quality, gated community for workforce residents earning 80% to 100% of the area’s median income. Its unique amenities include a lake at the epicenter of the property; lounging areas; pickleball courts; and beach volleyball courts for resident use. The three-story community spans over 260,000 square feet and has a mix of one- and two-bedroom units. Interior amenities include all-electric kitchens, quartz countertops and fireplaces in select units.
The property is located at 3700 Preston Road in Plano, Texas. CBRE represented both Comunidad Partners as the buyer and Waterton as the seller in the transaction.
About Comunidad Partners: Comunidad Partners is a vertically integrated real estate investment firm and a registered investment adviser (RIA) focused exclusively on workforce and attainable housing throughout the U.S., with a robust portfolio in the Sunbelt region. Comunidad strategically identifies and pursues investment opportunities that can contribute to the growth and sustainability of culturally diverse communities. The firm is actively growing its presence in Southwest and Southeast, targeting markets including Dallas, Austin, Phoenix, Charlotte, Raleigh, Atlanta, and other markets. A minority- and women-owned firm, Comunidad aims to provide improved opportunities and enriched living experiences for residents who live in communities that the company serves. The firm also employs market-leading impact initiatives focused on driving sustainable social and environmental value for all stakeholders and has earned the firm national recognition for its innovative impact strategies. Comunidad was named a Freddie Mac Impact Sponsor of the Year in 2021, is CORES SAHF certified, a UN PRI Signatory, and is a founding member of the Multifamily Impact Council.
Please visit comunidadpartners.com to learn more about Comunidad Partners.