Hillcrest is a full-service real estate development and management company focused on the transformation of emerging neighborhoods in urban areas with compelling economic profiles. More than simply developing high-quality places for people to live, work, play, stay, shop, and dine, we create one-of-a-kind destinations defined by a fusion of exceptional design and coveted amenities. Our development strategies are tailor made to unleash untapped potential and deliver the outstanding lifestyle experiences that today’s residents, commercial tenants, and shoppers desire most. As a result, we deliver the bottom-line financial results our business partners and investors expect.
Hillcrest’s talent for staying a step ahead of current trends is what stands behind our success. We pursue acquisition opportunities in locations that have not yet been recognized for their value and we bring the vision it takes to catalyze the reinvention of entire neighborhoods. Our innovative design concepts and dynamic amenity mixes speak directly to contemporary tastes and interests. Our thoughtful approach to the character and context of each site ensures that every development is uniquely suited to elevate the quality of its location.
Pedestrian-friendly outdoor shopping destinations that are designed to capture the unique spirit of their particular location and provide an ideal mix of retail, restaurant, and entertainment options
Lifestyle-driven rental housing communities, some with a retail component, featuring high-quality architecture and interior design as well as an appealing array of amenities
High-design shared office spaces and live/work loft buildings that provide flexibility for start-ups, entrepreneurs, artists, and creative professionals seeking to be in a collaborative atmosphere
Luxury for-sale residential communities featuring exceptional attention to detail in every aspect of the architecture and interior design, coveted amenities, and personal services
Boutique extended-stay and traditional hotels with a curated selection of amenities and services offer an authentic experience inspired by the history and character of the local area
Hillcrest’s expertise and passion is in discovering and executing on value-add real estate opportunities, particularly for larger, Class A residential, commercial, mixed-use, and hospitality properties in emerging urban areas. From repositioning underperforming assets to developing ground-up projects, we formulate strategies that secure critical mass in targeted micro markets and generate significant value. Hillcrest has also established a reputation for breathing new life into historic properties with imaginative and thoughtful restorations that preserve significant architectural details while contributing to the evolution of the surrounding neighborhood. We take a holistic approach to the development process and believe in the power of a strong brand vision.
Innovative architectural and interior design, dynamic amenity mixes, and focused retail strategies enable Hillcrest developments to command a premium in the market. As an equity investor in every project we develop, our interests are aligned with those of our business partners, which range from major institutions seeking to execute large-scale strategies, to individual investors interested in the development of smaller-scale projects. Hillcrest’s strong, long-term relationships with leading financial institutions afford us excellent access to financing, and our hands-on expertise with local municipalities enables us to efficiently shepherd projects through the complex land entitlement and building approvals process.
Ryan Afari is a Principal of Hillcrest and heads the firm’s acquisition and development arms. His expertise is pursuing creative non-traditional strategies and partnering with best-in-class design, architecture, branding, and operating partners to execute grand visions in unexpected places. Prior to joining the firm in 2014, he was an Acquisitions and Capital Market Analyst at Prudential Real Estate Investors, where he led the underwriting of over $3 billion of proposed acquisition, joint venture, and development opportunities, and over $1 billion of closed transactions across a variety of commercial and residential asset classes throughout the country. Mr. Afari attended Cornell University, where he earned a Bachelor’s degree with Honors in Hotel Administration with a Minor in Real Estate and a concentration in Corporate Finance.
Fred Afari, Managing Principal of Hillcrest, has been a leader in real estate development and management for more than three decades. In 1980, he founded Parkview Financial, Inc., a diversified real estate company focused on the acquisition, development, construction and management of investment grade residential and commercial real estate. An active member of the community, Mr. Afari is a Board Member of the Historic Downtown Los Angeles Business Improvement District and a supporter of various charitable organizations, including the Magbit Foundation, the Neuromuscular Disease Foundation, ETTA Israel, and the Hope Foundation of IAJC. He graduated Summa Cum Laude with a Bachelor’s degree in Engineering and received a Master’s in Business Administration from the University of California, Los Angeles, and received a Juris Doctorate from University of La Verne School of Law.
Since the 1980s, the Hillcrest team has developed over 680,000 square feet of commercial office and retail space and over 2 million square feet of residential space with more than 2,400 rental and condominium units, primarily in the greater Los Angeles area of Southern California. In 2015, the firm began actively pursuing acquisition and development opportunities in other growing urban centers across the West Coast, including San Francisco, San Diego, Portland and Seattle. Hillcrest’s developments range from ground-up new construction and gut-renovations of existing buildings to carefully executed conversions of landmarked historic buildings.
Our team’s expertise in complex transactions combined with the firm’s access to favorable financing and a breadth of capital partners enables us to take advantage of a wide variety of opportunities, including the acquisition of vacant land, existing buildings, distressed loans and underperforming assets of all sizes. For every project, we are committed to adding significant value through disciplined development plans implemented in tandem with powerful branding strategies. At Hillcrest we are focused on building the neighborhoods of tomorrow by creating lifestyle synergies with the surrounding environment.
Residential Conversion + Urban Retail
Originally built in 1912, this historic office building was one of the first to be transformed under the 1999 Adaptive Reuse Ordin... View Image
Residential Conversion + Urban Retail
Originally built in 1912, this historic office building was one of the first to be transformed under the 1999 Adaptive Reuse Ordinance by Hillcrest’s principals. Now featuring 168 rental loft residences with ground floor retail, The Chapman is located in the heart of the rapidly-emerging Broadway corridor alongside neighbors like the Ace Hotel and the Eastern Columbia Lofts.
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Residential Conversion
Located in the City-West neighborhood, just blocks away from downtown Los Angeles’ financial district and urban core, Hillcrest'... View Image
Residential Conversion
Located in the City-West neighborhood, just blocks away from downtown Los Angeles’ financial district and urban core, Hillcrest's team converted this historic high-rise hotel into micro-studio residential units that pose an affordable alternative to renters looking for the urban lifestyle with access to downtown Los Angeles’ growing amenity base.
Visit Website
Ground-Up Mixed Use
Seventh Street Lofts will feature 198 luxury residential units atop street retail in the City West neighborhood of downtown Los An... View Image
Ground-Up Mixed Use
Seventh Street Lofts will feature 198 luxury residential units atop street retail in the City West neighborhood of downtown Los Angeles. The development will have a focus on amenities, superior finishes, and collaborative environments while engaging with the surrounding streetscape, which is rapidly improving as development sweeps the 7th Street corridor stretching from the new Wilshire Grand to MacArthur Park, including the opening of the adjacent Teragram Ballroom.
Visit Website
Ground-Up Mixed Use
As one of the first conceived ground-up live/work developments in LA’s Arts District, 1800 E 7th is designed to feature 122 mode... View Image
Ground-Up Mixed Use
As one of the first conceived ground-up live/work developments in LA’s Arts District, 1800 E 7th is designed to feature 122 modern lofts, artist production space, luxury amenities, walkable retail, and an abundance of public locally sourced art throughout the project to fit within the creative character of the surrounding community.
Visit Website
Residential Conversion + Urban Retail
Located in the rapidly growing Arts District in downtown Los Angeles, this loft-style industrial office building is undergoing a c... View Image
Residential Conversion + Urban Retail
Located in the rapidly growing Arts District in downtown Los Angeles, this loft-style industrial office building is undergoing a complete renovation and repositioning to 57 large-format live/work and creative office units, a rooftop deck, and ground floor retail on the busy 7th Street corridor. Completion is anticipated for fall 2016.
Visit Website
Residential Redevelopment + Urban Retail
Surrounding the newly rebuilt Echo Park Lake, this collection of residences, urban retail, and land properties are being redevelop... View Image
Residential Redevelopment + Urban Retail
Surrounding the newly rebuilt Echo Park Lake, this collection of residences, urban retail, and land properties are being redeveloped into a cohesive design-forward community aimed at attracting young professionals and further invigorating the rapidly-improving neighborhood of Echo Park.
Visit Website
Residential Conversion + Urban Retail
Originally built in 1912, this historic office building was one of the first to be transformed under the 1999 Adaptive Reuse Ordin... View ImageResidential Conversion + Urban Retail
Originally built in 1912, this historic office building was one of the first to be transformed under the 1999 Adaptive Reuse Ordinance by Hillcrest’s principals. Now featuring 168 rental loft residences with ground floor retail, The Chapman is located in the heart of the rapidly-emerging Broadway corridor alongside neighbors like the Ace Hotel and the Eastern Columbia Lofts.
Visit Website Residential Conversion
Located in the City-West neighborhood, just blocks away from downtown Los Angeles’ financial district and urban core, Hillcrest'... View ImageResidential Conversion
Located in the City-West neighborhood, just blocks away from downtown Los Angeles’ financial district and urban core, Hillcrest's team converted this historic high-rise hotel into micro-studio residential units that pose an affordable alternative to renters looking for the urban lifestyle with access to downtown Los Angeles’ growing amenity base.
Visit Website Ground-Up Mixed Use
Seventh Street Lofts will feature 198 luxury residential units atop street retail in the City West neighborhood of downtown Los An... View ImageGround-Up Mixed Use
Seventh Street Lofts will feature 198 luxury residential units atop street retail in the City West neighborhood of downtown Los Angeles. The development will have a focus on amenities, superior finishes, and collaborative environments while engaging with the surrounding streetscape, which is rapidly improving as development sweeps the 7th Street corridor stretching from the new Wilshire Grand to MacArthur Park, including the opening of the adjacent Teragram Ballroom.
Visit Website Ground-Up Mixed Use
As one of the first conceived ground-up live/work developments in LA’s Arts District, 1800 E 7th is designed to feature 122 mode... View ImageGround-Up Mixed Use
As one of the first conceived ground-up live/work developments in LA’s Arts District, 1800 E 7th is designed to feature 122 modern lofts, artist production space, luxury amenities, walkable retail, and an abundance of public locally sourced art throughout the project to fit within the creative character of the surrounding community.
Visit Website Residential Conversion + Urban Retail
Located in the rapidly growing Arts District in downtown Los Angeles, this loft-style industrial office building is undergoing a c... View ImageResidential Conversion + Urban Retail
Located in the rapidly growing Arts District in downtown Los Angeles, this loft-style industrial office building is undergoing a complete renovation and repositioning to 57 large-format live/work and creative office units, a rooftop deck, and ground floor retail on the busy 7th Street corridor. Completion is anticipated for fall 2016.
Visit Website Residential Redevelopment + Urban Retail
Surrounding the newly rebuilt Echo Park Lake, this collection of residences, urban retail, and land properties are being redevelop... View ImageResidential Redevelopment + Urban Retail
Surrounding the newly rebuilt Echo Park Lake, this collection of residences, urban retail, and land properties are being redeveloped into a cohesive design-forward community aimed at attracting young professionals and further invigorating the rapidly-improving neighborhood of Echo Park.
Visit Website
