Our Story

Highland Property Development LLC, commonly known as Highland, specializes in the acquisition and development of multi-family affordable housing. Highland focuses efforts toward revitalizing existing rental properties at risk of conversion to market rate housing, minimizing long-term maintenance and operating costs, improving energy efficiency, all while implementing upgrades specifically targeted toward improving community and lifestyle for its residents. Highland manages each stage of the development process – from acquisition of each property, procurement of debt and equity financing, the construction and rehabilitation phases, attainment of stabilized operations, and long-term asset management.

Since its inception in 2003, Highland and its principals have successfully acquired and redeveloped nearly 3,500 residential units contained within 55 multifamily properties located throughout California and Texas. The majority of these developments have involved substantial renovation of existing, government-subsidized housing. Highland structures and finances these developments through a combination of federal low-income housing tax credits (LIHTC), tax-exempt bond financing, federal and local governmental loans, privately placed debt, and rental subsidy programs.

Highland Property Construction (HPC), an affiliate of Highland, has acted as general contractor for the majority of Highland’s redevelopment projects. HPC’s approach to construction emphasizes resident safety and security, asthetic design, and quality workmanship. HPC’s construction team is well experienced in initial cost estimating and renown for completing jobs on schedule and on budget, with typical renovations ranging between $40,000 and $50,000 in hard construction costs per unit, and completed within twelve months.

Leadership

Gary P. Downs

A founding principal of Highland, Gary P. Downs owns and manages over 55 apartment projects, comprising nearly 3,500 units. Gary is also the managing member of Impact Development Group and a founding partner in the law firm Downs Pham & Kuei LLP based in San Francisco.

The real estate industry recognizes Gary as an expert in the development of affordable housing. In his legal practice, Gary represents developers, lenders and investors on real estate, tax credit and affordable housing matters. Gary participates in the development of local, state and national housing policy. He is Vice Chair of the Urban Land Institute Affordable and Workforce Housing Council. He holds board member positions with 2Gen Equities, a non-profit with a mission of mitigating poverty, and Preservation Housing Foundation, a non-profit involved in preservation of historic buildings and management of affordable housing.

An avid cyclist, Gary is active in the San Francisco Bicycle Coalition. He lives in the Bay Area with his wife and two boys, and maintains offices in both San Francisco and Los Angeles.

Kristoffer J. Kaufmann

Also a founding principal of Highland, Kristoffer J. Kaufmann manages the daily operations of the company in addition to underwriting and overseeing the acquisition of each transaction, and monitoring the construction process through completion and stabilization of each property.

Prior to forming Highland, Kristoffer served as an analyst for two national tax credit syndication firms for which he was responsible for developing and maintaining project-level projections from pre-development through closing. Kristoffer has over 20 years of tax credit experience and has developed several financial models utilized within the affordable housing industry.

Kristoffer lives in Southern California with his wife and four children, drives an electric car, is a proud supporter of charities serving under privileged youth, and serves on the board of his local Boys & Girls Club.

Our Team

Paul Patierno

Paul Patierno joined Highland in 2009, and serves as the company’s Chief Financial Officer and Director of Acquisitions. Paul has been a Certified Public Accountant since 1983, having started as an auditor with a national accounting firm whose major clients included developers, syndicators, management groups, and lenders within the affordable housing industry.

In 1998, Paul began working for a nationally recognized syndication firm based in Beverly Hills, California, which later was acquired by the nation’s largest owner and operator of affordable housing, Apartment Investment and Management Company (AIMCO). Mr. Patierno led AIMCO’s national efforts to acquire and redevelop affordable, multi-family housing through use of low-income housing tax credits and other governmental programs. During his time with AIMCO, Paul was directly responsible for originating and closing on the acquisition of 4,350 affordable housing units. Paul’s responsibilities also included cultivating State Agency relationships and developing internal policy, a role he continues to perform for Highland.

Paul lives in Tarzana, California with his wife and two daughters. He is a master of the barbecue, and enjoys participating as a panel speaker at affordable housing industry conferences.

Michael Riordan

Michael Riordan joined Highland in 2007, and serves as the company’s Director of Asset Management. Michael
oversees Highland’s portfolio of nearly 2,800 units throughout California and Texas, as well as several hundred additional units for third parties.

Michael works directly with lenders, investors, government agencies and management companies to achieve optimal property performance and regulatory compliance. His experience in both residential and commercial property management gives Michael a deep understanding of onsite operations and tenant relations, helping to ensure superior housing for our resident familes and seniors.

Michael previously spent nearly fifteen years in Japan where he founded two English schools serving as an administrator and teacher. He currently lives in Monrovia, California with his wife and enjoys brewing craft beer, grilling and working in the yard.

Jessica Mulheim

Jessica joined Highland in 2012 as an Executive Assistant where she enjoys using her diverse skills to provide administrative support to the team.

Prior to arriving at Highland, Jessica provided communication and marketing expertise for SGI Construction Management, a Pasadena based firm specializing in K-12 School Bond Construction Programs. Preceding her position at SGI, she facilitated the daily operations of Morse, Gielser & Callister LLP, a mid sized Workers’ Compensation Defense law firm.

Jessica earned her degree in Business Management with an emphasis in Marketing from the University of Phoenix. She resides in La Cañada with her teenage son and daughter and loves mountain biking.

Our Projects

California

Active since 2003
Over 3,000 affordable units

Highland Companies - Our Projects - California Map

Texas

Active since 2011
314 affordable units

Highland Companies - Our Projects - Texas Map

Contact Us

Partners

Highland Properties Development - Partner - Bonneville
Highland Properties Development - Partner - Chase
Highland Properties Development - Partner - CTCAC
Highland Properties Development - Partner - Orix
Highland Properties Development - Partner - TDHCA
Highland Properties Development - Partner - USDA