ALEGRIA REAL ESTATE, LLC
PORTOLA VALLEY, CA

Our goal is two-fold: to provide homes for families and to help fuel the residential real estate recovery. Alegria Real Estate Funds purchases distressed/foreclosed single-family homes in areas with a lack of inventory and high barriers to entry through short-sale or foreclosure. We are currently celebrating the purchase of our 100th home and are now one of the largest homebuyers in San Diego County. is a co-managing member of Alegria as well as a principal and CEO of MKS Residential LLC, an institutional-quality apartment developer. He spent 25 years as Co-Chairman of The Morgan Group, Inc., and CEO of Morgan Construction Co., Inc., companies that developed institutional-quality apartments across the country. He began his career as a real estate attorney in Houston where he practiced with two downtown law firms during the 1980s. In 1995, he served as the president of the Houston Apartment Association and in 2005-06, after relocating to the San Diego area, was chairman of the San Diego Chapter of the Young Presidents Organization (YPO). is the COO of Alegria and has more than 23 years of diversified expertise in the real estate development industry. Since founding Bradley Land Group in 2004 he has directed the entitlement of more than 400 homes and mixed-use projects throughout San Diego County. He previously served in executive leadership positions with D.R. Horton and the Corky McMillin Companies, a San Diego-based private real estate development, home building and realty company. is the co-chairman of Grupo Hir, a Mexican firm with over 50 years of experience financing and constructing low-income housing in Mexico. He has managed the construction and sale of more than 350,000 housing units and used his expertise to direct similar projects in Southern California. Under Mr. Hirschhorn’s direction Grupo Hir has added numerous subsidiary organizations and expanded its activities across North America. One by one, the Alegria Real Estate Funds made cash purchases of detached, single-family homes in areas with low for-sale inventories and high barriers to entry. Their success began to attract more investors each year, including Ari Hirshhorn, who became part of the management group. The first Alegria fund raised approximately $5 million and was used solely to buy homes on the courthouse steps or through short sales, renovate them and sell them to families who could afford them. The second fund raised approximately $6 million and was used for the same purpose. Alegria’s next two funds expanded the company’s real estate portfolio and had a slightly different business model. Instead of buying and reselling the homes, Alegria Real Estate Funds began renting a number of them, keeping them as longer-term investments. Alegria has been, and remains, at the forefront of the housing recovery. The company’s strategy also proves the adage that a business can do well by doing good for its customers and its community Alegria is the Spanish word for happiness or joy. We borrowed the name for our business because we believe at its core, a company thrives only if it elevates the wellbeing of everyone it touches, from its founders to its customers. By purchasing more than 150 houses throughout San Diego County, Alegria Real Estate Funds has provided homes for scores of families, at the same time helping to fuel the recovery of our critical local housing and job markets. We are celebrating our experience! Our goal is two-fold: to provide homes for families and to help fuel the residential real estate recovery. Alegria Real Estate Funds Dedicated to helping communities maintain their property values and providing San Diego residents with quality, affordable housing. The team at Alegria Real Estate Funds takes a personal interest in San Diego’s recovering housing market. Since early 2010, AREF’s professionals have invested in excess of $50 million in distressed single-family home transactions, helping communities maintain their property values and providing San Diego residents with quality, affordable housing. The company has closed on nearly 150 homes – mainly in newer, master-planned communities -- with prices averaging in the mid-$300,000s. As the housing market struggled back from its collapse in 2008, Alegria has helped fuel the recovery by raising a series of four separate funds for home purchases, and recently expanded its business portfolio to include rentals.