Dallas, TX (PRWEB) February 27, 2009
Rainier Capital Management, a Dallas, TX-based commercial real estate investment management firm, has announced that Clint Harrington has joined the firm as President of its asset management division, Rainier Asset Management Company, LLC. As head of the company, Harrington will oversee all asset management functions for Rainier clients including property management and leasing oversight and property capital decisions. In addition, Harrington will focus on expanding the company's asset management portfolio. The hiring of Harrington coincides with the opening of Rainier's second regional office that will be located in Houston. Rainier currently has a regional office in Denver, Colorado.
After acquiring over 1.5 million square feet of third party asset management contracts in Texas, Indiana, North Carolina, Oregon and Utah over the last several months, Rainier Asset Management Company is expanding its management team and opening new offices. The current capital conditions are creating heavy financial stress on real estate owners and lenders, and this will likely continue through the unforeseeable future until the markets correct themselves. "We are finding clients that need a well and diversely experienced team like ours to work through these times to maximize operational and leasing performance while providing financial restructuring strategies and partnerships. I am excited to lead Rainier's asset management efforts and contribute to its continued growth and success," said Harrington.
Harrington brings 17 years of real estate experience to Rainier Asset Management Company including acquisitions, financing, leasing and dispositions. Mr. Harrington spent most of his career with Jones Lang LaSalle where he was responsible for a 16.5 million square foot portfolio primarily located in Texas and Louisiana. Immediately prior to this venture, he was Senior Vice President with La Jolla, CA based Equastone where he was responsible for all properties in the Gulf Coast Region which encompassed over 31 commercial office properties in excess of 6,700,000 SF in Atlanta, Austin, Dallas, Houston, and New Orleans. He had bottom line oversight for all asset and property management, leasing, acquisitions and dispositions. This portfolio was valued at approximately $1.1 billion. Mr. Harrington earned his MBA at Texas A&M University and earned an undergraduate degree with honors from University of California, Los Angeles (UCLA). Rainier Capital Management President Ken Dunn said, "Clint is a widely respected industry veteran and an expert on the Texas markets and other markets where we are expanding. We are fortunate to have him on board; his real estate expertise and market knowledge will be instrumental in executing our client and investor strategies and achieving our client's targeted returns." Rainier EVP Tim Nichols states that "Rainier and its affiliates currently oversee a real estate investment portfolio of more than 130 properties in 18 states. We expect rapid growth in 2009 through the acquisition of new asset management contracts, our lending activities and our direct purchases of office, retail and multi-family properties."
For more information about Rainier Capital Management and Rainier Asset Management Company, call Amber Copeland at 214-234-8218 or visit http://www.rainiercapital.com. The main phone number is 214-234-8200.