California People and Company News, Week of Oct. 3, 2025

KHP Capital Partners, a leading real estate private equity firm focused on acquiring and creating lifestyle hotels, today announced that co-founder & managing partner Ben Rowe has formally assumed the role of CEO as part of a planned succession process. Rowe co-founded KHP with Mike Depatie and Joe Long in 2015, with the three former Kimpton Hotels and Restaurants executives initially serving as co-managing partners. Together, they have grown KHP to $1 billion of equity under management with a current portfolio of 20 lifestyle hotel investments.

Colliers has added top-producing multifamily and land broker Aaron Bove and the Bove Investment Team. Bringing a history of record-breaking sales, market leadership and client-first advisory, the team comprises EVP Bove, senior associate Emily Jones and senior client service Specialist Casey Sanders. They join the firm’s San Diego brokerage from Marcus & Millichap.

Commercial real estate veteran Todd Popovich has joined Western Alliance Bank as managing director for institutional commercial real estate finance, California. He will be responsible for driving strategic growth while navigating today’s evolving CRE markets.

Fidelity Bancorp Funding has appointed William Hughes as executive managing director. A recognized leader in capital markets and real estate finance, Hughes built his reputation leading Marcus & Millichap’s Capital Markets team, where he guided strategy, execution, and business development while overseeing billions in structured financings until retiring in 2018.

Preservation Equity Fund Advisors reached final close of its latest affordable housing fund, Preservation Equity Fund 3, L.P. At $156 million, this fund is the third in a series of closed-end funds sponsored by PEF Advisors targeting the preservation of affordable housing in high-rent, high-growth markets across the U.S. It closed with 17 investors, many of whom were repeat investors.

Kay Properties & Investments, a national leader in Delaware Statutory Trust (DST) investments, has launched “The 1031 Exchange Times”, a tabloid-sized newspaper designed to educate real estate investors navigating tax-deferred transactions. The publication has been distributed to tens of thousands of investors nationwide.