LOS ANGELES — Engineering firm Psomas announced the launch of Micropolitan, a new subsidiary that will own and operate a diversified portfolio of apartment properties in the 30- to 80-unit range in Southern California’s strongest urban markets. The company’s focus is on purchasing and developing buildings in walking distance to employment centers and in transit-oriented locations to encourage the use of public transportation.
“Our innovative approach to the apartment business is what sets Micropolitan apart from the competition,” says Jacob Lipa, Micropolitan CEO and president of Psomas. “We will be known for delivering The Micropolitan Touch — buildings that maintain an unwavering commitment to quality through innovation, sustainability, attention to detail, and professionalism. Providing value and quality to our customers will lead to attractive and consistent returns to our partners.”
Larry Kruger, Micropolitan’s president, brings over 30 years of real estate development experience in both the multi-family and single-family industries. He will be responsible for day-to-day operations of the company, including acquisitions, financing and management.
As Micropolitan’s CEO, Lipa will be responsible for the direction of the company, ensuring that its culture, client service, public service and commitment to sustainability line up with Psomas’ strong tradition of excellence in these areas.
Learn more at www.micropolitanco.com.