Banner Apartments

3Q2013

Allium Partners recently completed a search on behalf of Banner Apartments to recruit a Director of Multifamily Development. We are pleased to announce that Bill Henry has joined the firm in its Northbrook, Illinois office.

Bill will lead Banner’s existing development staff, overseeing conventional rental development and the build-up of the company’s pipeline and staff to support the growth of conventional development of both for-sale and rental product. He will also oversee development of the company’s affordable housing and self-storage development staff and, within a few years, is expected to hire a staff of in house general contracting and architectural design group. Prior to joining Banner, Henry had worked in senior development positions at The Prime Group, Brookdale Senior Living, Classic Residence by Hyatt and Extended Stay America.

Banner Apartments is a private operator of real estate investments that specializes in multi-family rental housing. Founded almost 25 years ago, the firm has grown through a series of single asset purchases with equity contributed from high net worth individuals and family offices. Today, the firm has ownership in and manages approximately 6,000 apartments across Texas and the Midwest. In 2009, the firm closed on its first fund for acquisitions and placed over $41 million in commitments. Banner is currently in the process of raising its second discretionary fund for acquisitions having raised approximately $40 million, while targeting $50 million in commitments.

Allium Partners continues to recruit strategic hires in the real estate industry on a national basis. Our network of professional contacts in Chicago and in the residential development and investment business nationally was very helpful to us in this engagement.