FIRM HISTORY

Klein Financial Corporation, founded in 1984 by Robert N. Klein, II, was created to meet a need in the real estate financing sector for innovative solutions to the lack of affordable housing mortgage financing. The firm provides financial, development, governmental, tax credit and other advisory services to clients pursuing the development of affordable housing and other real estate development opportunities which utilize governmental subsidy programs.  Klein Financial Corporation also develops real estate projects as a principal to validate new financial technologies and/or innovative project legal and capital structures it designs.

Klein Financial Corporation has designed, structured, developed or consolidated approximately $5.0 billion in bond financing for private developers and governmental agencies.  For the most recent 15 years, Klein Financial Corporation has developed or financed more than 50 properties, throughout California, Colorado and Arizona, consisting of approximately 12,498 units with a total value of approximately $1,319,269,000.

In addition to its consulting and development activities, Klein Financial Corporation serves as co-investor and investment manager for two real estate investment funds of the California Public Employee Retirement System (CalPERS) totaling 2,750 units and over $530 million in property value.  These funds were established to invest in affordable multi-family housing developments located in California.  Klein Financial Corporation was named an investment manager for the initial fund through a highly competitive, national process in 2002, and Klein Financial Corporation was selected as the investment manager for the second fund as a result of its development, asset management, and tax exempt bond expertise.