VP | ACQUISITIONS
ABOUT, RICHARD ZIGLER
Richard Zigler, Vice President of Acquisitions at TriArc Real Estate Partners, has over 20 years of experience in multifamily and commercial real estate. His significant expertise in acquisitions, finance, underwriting, market analysis, and asset management has enabled him to contribute extensively to the success of multifamily partners, investors, and clients. Throughout his career, Richard has facilitated over $2 billion in real estate acquisitions, development, and recapitalization.
Before joining TriArc, Richard served as Principal and directed multifamily acquisition activities at Cypress brook Company. Among his many achievements there was helping to turn around a struggling property which lacked sufficient cash flow to pay vendors. After taking over asset management, he boosted occupancy and reduced expenses, allowing investors to realize an IRR of over 12%. He directed a $2.5M renovation of a 330-unit asset and achieved an 18% rent growth in the first year. He also achieved a 20% and 21% rent growth over three years following renovations on 184-unit and 60-unit multifamily properties, respectively.
Richard grew up in Chesterfield, Missouri, a suburb of St. Louis. He first came to Houston to tour Rice University. It was March, and the weather in Houston was beautiful. Back in Chesterfield, when his plane touched down, it was snowing. Richard said, “That’s it. I’m going to Houston.” After earning a Bachelor of Arts degree at Rice, he continued his education in Atlanta and received a Juris Doctorate from Emory University School of Law. Richard quickly realized he didn’t want to be an attorney. Real estate was an interest, and when he returned to Houston, a position helping clients make better real estate investment decisions at O’Connor & Associates caught his eye. Richard rose to head of O’Connor’s research and consulting arm and served as the primary feasibility consultant for real estate projects totaling over $1.2 billion. His team collected and analyzed data on 16,000 multifamily and commercial properties throughout Texas, but Richard discovered his passion was for real estate, not for data.
The Kaplan Companies, a regional multifamily developer, was a client, and Richard conducted several market studies on their behalf. In 2006, Kaplan said, “You’re always telling us why we shouldn’t do a deal. Why don’t you come work with us and help us find the right properties to acquire?” As President of Kaplan Acquisitions, Richard headed acquisition efforts and limited the company’s exposure during the market downturn in 2008 by applying rigorous analysis to potential development opportunities.
In 2009, Richard accepted another opportunity with a former O’Connor client. As Director at LMI Capital, he brokered 200 loans totaling over $1 billion in debt and helped increase annual revenue by over 330%, but he missed the developer/owner side of multifamily. He joined The Barvin Group as an asset manager for a 2,300-unit multifamily portfolio. A year later, Cypress brook, a former LMI client, invited Richard to head their acquisition operations as a partner.
The relationships Richard has formed with clients and associates mean the world to him and have contributed significantly to his success. He’s a man of his word, and that matters. Those who know him value his exceptional analytical skills and strong sense of integrity. A colleague once told him, “Remember the 60 Minutes Rule. In every situation, ask yourself: If your mother saw this on 60 Minutes, would she be proud of you?” It made an impression and continues to guide his career.