USA Multifamily Development
The USA team excels at finding the resources to ensure that a project successfully goes from idea to reality.
Our team includes people expert in
- Identifying potential sources for new development, whether urban infill, meeting inclusionary housing needs, or acquiring vacant land.
- Coordinating the often-complex entitlement process
- Designing a community that meets the need of the city and neighborhood in which it will be located.
- Assessing existing multifamily communities for potential acquisition and rehabilitation
- Securing capital for the development of affordable, market rate, and mixed-income communities.
Steven Gall oversees USA Properties Fund’s land and existing apartment community acquisition activities. Mr. Gall has more than 30 years of experience in the real estate industry, including more than 25 years with USA Properties’ in various land acquisition and development roles. He has also served as Vice President of Land Acquisition for the Sacramento Divisions of Centex Homes and MBK Homes, as well as Sacramento City Partner/Development Director forAlliance Residential Company. He holds a bachelor’s degree from Willamette University and an MBA from the University of Washington.
Mr. Darren Bobrowsky joined USA Properties Fund in November 2010 as Director of Finance. He was promoted and to Senior Vice President of Finance and became a USA Properties Fund shareholder in 2015.
In his current position as the Senior Vice President of the Capital Markets Group, Mr. Bobrowsky oversees procurement and maintenance of debt and equity financing for USA Properties.
Prior to joining USA Properties Fund, Mr. Bobrowsky was Vice President, Acquisitions for Capital Valley Investments (The Ezralow Company) with oversight of all aspects of affordable home development. Previous to that, Mr. Bobrowsky was Director of Development Services at Sacramento Housing and Redevelopment Agency (SHRA) and oversaw all aspects of the City and County of Sacramento’s affordable housing programs including subordinate financing, tax-exempt bond issuance, inclusionary housing programs, and policy development. During his time at SHRA, he was involved in the development of over 10,000 affordable housing units with total project costs exceeding $1 Billion.
Mr. Bobrowsky’s current and previous experience, provides the knowledge to ensure projects are financially viable and financeable, ensuring the timely closing of transactions.
Jatin Malhotra joined USA Properties Fund as an Acquisitions Coordinator in 2014, and was soon promoted to an Acquisitions Specialist before being promoted to his current role in 2018. As Vice President, Acquisitions, he identifies, evaluates and executes acquisition and development opportunities for USA Properties.
Prior to joining USA Properties, Mr. Malhotra was an Associate Consultant for Development & Financial Advisory and Assistant Project Manager for Fulcrum Property where he was involved in acquisition, development and entitlement of numerous projects in the Sacramento and Bay Area.
Mr. Malhotra earned his bachelor’s degree in Managerial Economics from UC Davis and is a Licensed Real Estate Salesperson in California. Mr. Malhotra enjoys networking with his peers in the industry by staying involved with organizations such as the BIA and ULI
Jori Henry joined USA Properties Fund in 2008, and has been given increasing responsibilities and leadership during her tenure. Ms. Henry plays an integral role in the company’s projects, helping the company obtain the financing for affordable and market-rate apartment communities.
Before joining USA Properties, Ms. Henry was Capital Markets Specialist-Secondary Marketing for EquiPoint Financial Network. The company closed during the housing market collapse in 2008.
Ms. Henry, who grew up about 10 miles from USA Properties’ corporate headquarters, has learned a great deal about the affordable housing industry – and multifamily housing operations.
She manages the finance document process related to funding applications, construction, and permanent and subsidy loan closings. Ms. Henry also manages the due diligence process for project loan closings and handles the title and escrow process for all properties.
Mr. Keith Johnson joined USA Properties Fund in 2005, when the company had about 50 apartment communities and 6,000 units – about half the number today.
Before joining USA Properties, Mr. Johnson was a Development Controller for Panattoni Development Company, a position he held for six years. The company specializes in industrial, office and build-to-suit development projects, with more than 300 million square feet in the U.S., Canada and Europe. Prior to that, he worked as a Supervisor in Fund Accounting for Franklin Templeton Investments, a global investment firm best known for its family of mutual funds.
The well-known, global companies gave Mr. Johnson extensive experience and a rock-solid foundation. But when he was looking for a new opportunity, USA Properties was a perfect fit – a midsize company with a mission of providing much-needed housing to low-income residents. Mr. Johnson, a Certified Public Accountant, said the company is committed to making a profit but also recognizes its social responsibility, especially in providing affordable housing in California and Nevada.
Mr. Johnson, a housing advocate, keeps up with the latest challenges and financial requirements that affect the housing industry and USA Properties, especially with tax credits – a financial tool that can make or break a project.
Milo Terzich rejoined USA Properties as Development Manager in 2013, after being away from the company for a decade.
Mr. Terzich – a licensed civil engineer in California and Nevada – oversees entitlements, and environmental and development permitting for USA Properties in California. He has been deeply involved in a range of affordable and market-rate apartment communities, including mixed-use projects. He is committed to working closely with municipalities on public outreach, entitlements and permitting, critical for the long term corporate and individual community’s success.
Before rejoining USA Properties, Mr. Terzich held the same position with Trina Solar US Development, where he oversaw the acquisition, entitlement, environmental and development permitting for large-scale solar-energy projects throughout the U.S., and Premier Homes, where he performed the same functions for infill, mixed use, master planned communities in northern California. He also has three years of experience as a private development consultant, providing project sponsors with real estate development, acquisition, due diligence zoning and entitlement, design and construction permitting services.
Mr. Terzich, who is adamantly committed to aligning public and private interests for a property’s benefit, has experience in bio-green energy facilities, industrial developments, continuing care retirement communities, mixed-use master-planned developments, brown field development distressed projects, regional event and conference facilities, and recreational and agricultural mixed-use projects – and the largest church campus in the northwestern U.S.
Mrs. Royce Patch joined USA Properties Fund as the Development Administrator in 1997, and held numerous positions with the company before being named Vice President of Development in 2005.
Before joining USA Properties, Mrs. Patch worked in redevelopment of commercial buildings in the Chinatown district of Honolulu, Hawaii. She returned to the mainland in 1984, where she worked in real estate appraisals for several years and then joined Morrison Homes’ sales management department.
Mrs. Patch has played a leading role in USA Properties’ expansion during the past two decades, producing affordable housing funding applications, performing site feasibility and due diligence analyses, and managing land-use and design entitlements for more than 40 affordable and market-rate communities.
She attributes her success in the industry to understanding the unique challenges and needs of cities – thanks in part to earning a certificate in Land Use and Environmental Planning from the University of California, Davis – and by developing relationships through community outreach. She says that engaging community leaders and even opponents to proposed apartment communities can help pave the way for successful projects, meeting the needs of cities and their residents.
Her efforts have helped the company’s fast-paced growth and success, with the addition of more than 10,000 units during her tenure.
Sean Reynolds joined USA Properties Fund in 2016 as a Development/Architectural Manager. He has since been elevated to Vice President of Development, leading design and planning efforts for the company’s multifamily projects, from new apartment communities to rehabilitation projects.
Mr. Reynolds, a LEED Accredited Professional with more than 20 years of experience in architecture and design, is a former senior executive with DAHLIN in Pleasanton in the San Francisco Bay Area. He began his career designing single-family homes and then moved quickly to multifamily communities as a lead designer/architect working with his team and clients to receive entitlements on small projects all the way through to projects involving specific plans and large master plan communities. Mr. Reynolds embraces the complexity, technical design side and positive community impact of apartment communities.
While at DAHLIN, Mr. Reynolds worked with USA Properties on the Santana Terrace project in Santa Clara, and the experience working with USA Properties Fund on this innovative apartment community – market-rate housing for seniors – encouraged him to look at joining the company.
He has extensive experience with multifamily community design, from entitlements through construction, and has worked on many affordable and market-rate apartment communities in California as well as the western United States.
Mr. Reynolds embraces out-of-the-box development ideas with new opportunities and groundbreaking projects that will help meet the need for more housing and solving the housing issues in California. For example, Mr. Reynolds believes embracing modular housing for some projects and transforming underperforming shopping malls into much-needed multifamily housing are possible solutions as well as looking to develop on infill sites and transit oriented developments.
Mr. Gabriel Gardner joined USA Properties Fund in 2020 as Acquisitions Manager, and focuses on the acquisition and development of affordable and market-rate apartment communities.
Mr. Gardner – who has a decade of acquisition, development, entitlement and asset management experience – was most recently a Senior Acquisitions Manager for JCM Partners LLC in Concord, Calif., With JCM, he oversaw the acquisition, disposition and asset management of a 6,000-unit portfolio valued at more than $1 billion. He led the sale of 42 large multifamily properties through liquidation that ended in early 2020. His other responsibilities with the company included sourcing deals, contract negotiations and risk, property and construction management.
He also has extensive expertise in value-add investments and note purchases.
Mr. Gardner played a critical role in the sale of USA Properties’ Harvest at Fiddyment Ranch, a 300-unit market-rate apartment community in the Sacramento region, in June 2021.
Mr. Gardner, who earned a bachelor’s degree in Human Biology from Stanford University and a Financial Planning certificate from the University of California, Los Angeles (UCLA), was a top-selling multifamily broker with a major national brokerage firm in the Sacramento region for five years before joining JCM in 2017.
Laura Plassmeyer joined USA Properties Fund in 2007, and was promoted to the Development Assistant Project Manager role in 2009 before assuming her current position as Product Design Manager in 2018. In her role, Ms. Plassmeyer works with internal and external partners in the management and coordination of day-to-day development operations while also leading the interior and exterior design of new construction and rehabilitated communities.
Ms. Plassmeyer is adept at designing a community that meets the needs of its residents, fits within the surrounding neighborhood, and incorporates contemporary trends, while also remaining focused on the overall project budget. Her design of Vintage Aliso in Liberty Aliso, CA, received a SAGE Award in 2017 for Best 55+ Affordable Rental Community.
Before joining USA Properties, Ms. Plassmeyer was a Regional Colorist for BSB Design, a national firm that designs a range of housing, including multifamily and senior housing. Ms. Plassmeyer, who also has experience in single-family home remodeling, is an associate member of the International Association of Color Consultants, North America (IACCNA).
Larry McElwain joined USA Properties Fund in 2006, and manages apartment community projects through the design phase.
Before joining USA Properties, Mr. McElwain was a Purchasing and Architectural Manager for Cambridge Homes and served as a Construction Superintendent and Architectural Development Manager for US Homes/Lennar, one of the largest single-family homebuilders in California.
Mr. McElwain has been involved with approximately 20 projects during his tenure at USA Properties Fund, including USA’s first market-rate community, The Landing at College Square. For this project, he worked closely with the building department to ensure that delays in the recovery of the financing market following the Great Recession did not prevent the successful completion of the project.
Mr. McElwain sees every project as a collaborative effort, and enjoys adapting his role to each one to ensure its success.