Laurence “Lonny” J. Kandel
PEM Real Estate Group, a vertically integrated multifamily real estate investment management firm, announced the hiring of Laurence “Lonny” J. Kandel as vice president of capital markets. In this role, Kandel will focus on identifying and aligning with registered investment adviser and family office clients across the United States to introduce the PEM real estate platform and debut the PEM Real Estate Fund I LP – a Regulation 506(b), pooled investment fund.
With a track record in financial services and over 30 years in the business, the firm said Kandel will spearhead and focus on strategic planning and building out new and existing relationships to introduce PEM Real Estate to the financial intermediary marketplace.
Founded 30-plus years ago by Paul Mashni, chief executive officer, PEM Real Estate has completed nearly $2 billion in transactions. PEM Real Estate Fund I LP is its first fund, comprised of five new assets and targeting a $250 million equity raise.
Kandel has held numerous senior capital-raising positions for real estate sponsors. Earlier this year, he was vice president of capital markets and business development at Colorado Financial Service Corporation – a managing broker-dealer raising capital in the agricultural real estate sector.
Previously, Kandel spent four years with digital infrastructure sponsor StratCap Securities/SC Distributors. There as senior vice president in the mountain central territory from 2020 to 2024, Kandel focused on building its distribution to existing broker-dealer advisers while opening the door to new RIA relationships.
“We are pleased to have Lonny join PEM as our first vice president of capital markets,” said Mashni. “His proven track record and experience in developing strong investor relationships will help us achieve our growth objectives as we develop investment solutions that match investor needs.”
Kandel holds FINRA Series 6, 7, 26, 63, and 65 licenses and is registered with WealthForge Securities, who serves as the managing broker-dealer for the PEM offering.
Since its inception, PEM Real Estate Group has focused on multifamily real estate investments and acquired over 23,000 apartments. Targeting stabilized, newer assets in the Southeast/Sunbelt markets and Texas, and with more than 200 real estate professionals, the firm provides oversight and risk management throughout the lifecycle of investments.
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