Kingbird Investment Management – Mark Pasierb has been appointed president. Prior to joining Kingbird, Pasierb served as the CEO and president of Pitcairn Properties. Earlier in his career, Pasierb held senior roles at The Rubenstein Company and PGIM Real Estate, where he was partner and director respectively. Pasierb succeeds Ken Munkacy, who is retiring from the firm after five years at Kingbird and more than 30 years in the industry.
Kingbird Investment Management (“Kingbird”), the real estate subsidiary of Puerto Rico-based family-owned strategic investment company Grupo Ferré Rangel, is pleased to announce that Mark Pasierb has been appointed to President. In this Boston-based role, Pasierb will leverage his 30 years of experience in real estate investment to set the strategic direction of the firm’s portfolio, manage the portfolio’s operational and financial performance, and oversee Kingbird’s mainland U.S. and Puerto Rico operations more broadly.
BOSTON, MASS. (May 24, 2023) – Kingbird Investment Management, the real estate subsidiary of Puerto Rico-based Grupo Ferré Rangel – a century-old, family-owned strategic investment holding company – has released a white paper highlighting the chronic undersupply of the US housing market for workforce rental housing.
The workforce housing segment faces a severe undersupply of attainable and quality rental housing. Investors would be wise to take notice.
The United States’ residential sector is chronically underserved; since 2017, the nation has been experiencing a large and growing shortage of housing. In 2017, this shortage was an estimated 731,000 housing units, but as of 2020 has now grown to between 3.8 – 6.8 million units, according to Kingbird Analysis of Federal Reserve Board of St. Louis, US Census Bureau, ACS IPUMS, and CoStar Data, along with Freddie Mac Housing Supply: A Growing Deficit May 2021 and National Association of Realtors Housing is Critical Infrastructure: Social and Economic Benefits of Building More Housing June 2021. The lack of supply relative to demand in the US residential sector, specifically within the workforce housing segment, has created an ideal, fundamentals driven environment for investing in workforce housing.
