Robert N. Klein
Robert N. Klein is Chairman and President of Klein Financial Corporation, a California based apartment and mixed-use developer whose largest, long term capital partners are CalPERS, California’s Public Employee Pension Fund, DivcoWest, a leading, national pension fund investment firm, and more recently Invesco, a New York Stock Exchange Company. Klein Financial Corporation acts as a development Managing Partner for new construction, acquisition and rehabilitation of multifamily and mixed-use developments with affordable components. More than $7 billion in financing and equity has been committed to projects of Klein Financial Corporation, its partners, and its clients. Throughout its history, Klein Financial has also frequently served as a financial advisor to state and regional public entities. International, national, and regional examples of awards for Robert Klein and/or Klein Financial are on below; and, project awards are available upon request.
Klein Financial Corporation and its affiliates have been the primary developer and/or redeveloper of over 500,000 square feet of retail and office space as well as over 13,560 housing units, excluding residential units in the development pipeline. Klein financial Corporation has served as the development consultant for an additional 2,000,000 square feet of commercial rental space, 7,000 housing units, and 10,000 acres of land development, although the company no longer provides consulting services. In co investment, development, and asset management partnerships with CalPERS and DivcoWest and/or in its own corporate portfolio, Klein Financial Corporation also maintains a current interest in a portfolio of approximately 3,000 units. Within this portfolio, Klein Financial Corporation acts as the Managing General Partner in charge of development, financial restructuring, new construction and/or renovations, operational management strategy and oversight, and other value enhancement programs.
California Housing Finance Agency Legislation and Board Service
Robert served for six years as a Board Member of the California Housing Finance Agency (CHFA). During his tenure, the CHFA had approximately $8 billion outstanding in affordable housing loans, an S&P Bond rating of AA, and a history of receiving national awards in almost every category of affordable housing during his Board tenure. This public corporation of the State of California was created by legislation in 1976, which Robert conceptualized, proposed and managed as the Principal Consultant to the California State Assembly and the State Senate Joint Committee on Housing and Urban Renewal. Klein Financial Corporation has never applied for, or received any financing from, the California Housing Finance Agency.
Robert’s public service and charitable commitments are focused on medical research, in addition to his leadership on developing new programs of government funding for multifamily housing with affordable components. His commitment to advancing medical research originated with his younger son Jordan’s diagnosis with Type 1 Diabetes (the immune system driven form of the disease) in 2001. In addition, his mother was diagnosed with Alzheimer’s two years earlier. In 2002, Robert was a principal negotiator, as a part of the JDRF patient advocate team that worked successfully to pass a $1.5 billion federal funding bill for an additional five years of Type 1 and Type 2 Diabetes Mandatory.
Supplemental National Institutes of Health Research Funding. In 2003, Robert served as the author and Chairman of California’s Proposition 71, the “California Stem Cell Research and Cures” Ballot Initiative, which was passed by 7,000,000 voters (59% for) in 2004.
Proposition 71 approved $3 billion for research funding and $3 billion to cover the interest for 35 years – a total of $6 billion. For the first 7 years of its existence, Robert served as the Chairman of the Governing Board of the California Institute for Regenerative Medicine (CIRM) established by Proposition 71, to manage the peer review, standards, and grant process for the $3 billion in stem cell research funding authorized by the Initiative. Robert was elected Chairman Emeritus of CIRM on June 23, 2011. In 2020, Robert served as the author and Chairman of California’s Proposition 14, the “The California Stem Cell Research, Treatments, and Cures Initiative of 2020” Ballot Initiative. Proposition 14 approved $5.5 billion for research funding, through the November 3, 2020 election, when it received 8,500,000 yes votes.
His other accomplishments include, in addition to writing the California Housing Finance Agency Act, the development of California’s first tax credit National Historic Site Restoration Project and the development of California’s first local governmental, tax exempt bond-financed, apartment project with a significant affordable component.
Board Service – Partial History/Last 25 Years
Robert Klein has served on numerous national and international boards. A partial history, presenting the 10 most important boards over the last 25 years, can be found on page 5 and 6 of this document. The narrative, outline history provides a brief commentary on the results of Robert’s board service, for each of the public and private institutions listed.
Robert has received numerous awards for his public service, including:
- Time Magazine honored Robert as “one of the World’s 100 Most Influential People of the Year” for 2005 (one of the 10 Most Influential Thinkers).
- Scientific American named Robert one of “The Scientific American 50” as a leader shaping the future of science in November 2005.
- A Proclamation from the California State Legislature was issued in 2004 honoring Robert Klein’s leadership and service as a member of the California Housing Finance Agency Board of Directors and the substantial increase in multifamily housing through that agency of the State of California during his tenure. The resolution noted the numerous national awards the Housing Finance Agency had earned during Klein’s service on the Board of Directors.
- A Proclamation from the California State Legislature was issued in 2009 honoring
- His prior role in the successful negotiation of $1.5 Billion of additional National Institute of Health congressional research funding for Type 1 and Type 2 Diabetes;
- His work on authoring and chairing the Initiative authorizing the $3 Billon in stem cell research funding, and Chairing the California Institute for Regenerative Medicine (CIRM) to distribute this funding; and,
- His work conceptualizing, writing, and working as the Principal Consultant to the California Legislature in creating the California Housing Finance Agency (more than $10 billion in tax exempt bonds issued) and managing the legislation through to signature and implementation under the direction of the Legislature and the California Governor.
- Research!America honored Robert with the Gordon & Llura Gund Leadership Award in March 2010 for his work in patient advocacy.
- The Biotechnology Industry Organization (BIO) awarded Robert their “Biotech Humanitarian Award” at their International Conference in 2010 for his work in authoring the “California Stem Cell Research and Cures” Initiative (Prop 71 from 2004) and Chairing the Governing Board of CIRM.
- The International Society for Stem Cell Research (ISSCR) awarded Robert with their inaugural “ISSCR Public Service Award” in 2011 for his outstanding contribution of public service to the field of stem cell and regenerative
- The Society for Brain Mapping & Therapeutics awarded Robert their 2020 “Pioneer in Healthcare Policy Award” for global leadership in the advancement of the science on the brain and central nervous system.
- The World Stem Cell Summit awarded Robert with their “Leadership & Advocacy Award” in 2021 for the national and global impact of the passage of Proposition 14, the California Stem Cell Research, Treatments, and Cures Initiative of 2020.
Innovative Real Estate Projects and Programs
Robert Klein employs an interdisciplinary approach to his work. Mr. Klein is trained in the field of law, having obtained a Juris Doctorate from Stanford University. He has developed legislation to establish innovative programs and policy directions for urban “infill housing”, new housing communities, and housing renovation projects, almost all with an affordable housing element. He has operated as an investment banker and financing specialist for a multitude of projects. He has also developed or provided consulting assistance to developers on a wide variety of projects. As examples of the above, Robert Klein:
- Served as the Principal Consultant, Joint Committee on Community Development & Housing Needs for the California State Legislature from 1973 to 1975 during which time he designed, wrote and negotiated the legislation that established the California Housing Finance Agency and significantly expanded the responsibilities of the State Department of Housing and Community Development.
- Established the west coast office of the Public Finance Department, Western Region, of Paine, Webber, Jackson & Curtis, Inc. Klein provided financial advisory assistance and underwriting services for housing issuers, hospital issuers, and general municipal facilities. He was the officer in charge of more than $250 million in public financings which included innovative structures for single- and multifamily housing bonds.
- Designed and implemented $255,000,000 in affordable single-family, first-time homebuyer programs for developers in Thousand Oaks and Simi, California, through which qualifying mortgage rates were reduced from 16% to 6% in the 1981-1982 period.
- Optimized low and moderate income integration, mass transit, and historic restoration public goals while completing California’s largest multifamily, tax-exempt bond financed project at the The project won the 1993 West Coast Builder’s Conference Gold Nugget Award.
- Designed and implemented $500,000,000 in forward funding facilities for a single client that covered the construction and permanent funding requirements for approximately twenty projects.
- Served as a principal team member in the design, negotiation and authorization phases of a $300,000,000 Mello Roos infrastructure financing program for the Playa Vista (a new community) developers on the 1,100 acre Howard Hughes site in Marina Del Rey.
- Developed and implemented a three-phase, 2,000 bed Student and Faculty Housing Program for California State University, Northridge during 1989 – Services included design development consulting, construction oversight consulting and permanent bond financing.
Robert Klein is an inactive member of both the California Bar Association and the American Bar Association, in good standing. He has a Bachelor of Arts in History with Honors from Stanford University and a Juris Doctorate from Stanford Law School. He retired from the United States Air Force after attaining the rank of Captain. Robert has been a frequent speaker at conferences in the areas of multi-family housing development, housing finance, redevelopment, historic rehabilitation, and stem cell research and therapy development for chronic disease and injuries. He lives in Northern California with his wife and children.
Board of Directors History
Board Service – Partial List/Most Recent 25 Years
- Chairman of the Board of Klein Financial Corporation (1984 to current), a real estate development and financial consulting firm, that partners with national level institutional investors, including CalPERS, DivcoWest, and Invesco – all multi-billion dollar pension fund investment/development partners.
- Vice Chair of the Board of the State of the World Forum, co-founded by S. Senator Cranston and former Russian President Gorbachev, to advance international economic development for developing nations, and to support the limitation on the proliferation of nuclear weapons and regional wars.
- Board Member of International Juvenile Diabetes Research Foundation (JDRF) for 12 years (2002-2014), and continuing participation as a Board Member of the Board of
- Board Member leadership with the S. Senate, unanimous consent approval of the $1.5 billion Mandatory Supplemental NIH Appropriation for Type 1 research and human trial funding, 2002, funding 2003-2007.
- Board Member leadership with the U.S. Senate on $5 billion+ in Type 1 Mandatory Supplemental NIH Appropriations and special set asides, 2006-
- Chairman of the Board, Sponsor and Author of California Stem Cell Research and Cures Initiative (Proposition 71) campaign, for $3 billion authorization of funding and the creation of a new public/private California funding corporation for stem cell and genetic research and human trials (2003-2004).
- Establish and staff a new public funding corporation guiding the stem cell and genetic research for new medical therapies, as well as developing an entire clinical trial network and funding system.
- Over 100 FDA approved clinical trials, for new stem cell and genetic therapies, derived from research, translational development, pre clinical and/or clinical trial funding from the new agency.
- Over 3,000 peer reviewed, published medical discoveries between June 2007, commencement of funding RFAs at scale and November
- By November 2020, 12 FDA designated “Breakthrough” or equivalent therapies, given accelerated FDA status.
- The first $3 billion, to date, has attracted $18 billion in matching
- 12 California research Institutes and/or Centers of Excellence, with a construction and laboratory fixtures cost of $1.2 billion, were constructed and operational, within four years, utilizing only $275 million, in California bond funds. (See “Star Clusters” https://kleinfinancial.egnyte.com/dl/2Ztln6LSsg password: gfrW3yKt)
- Chairman of the Board of the California Institute for Regenerative Medicine (CIRM) (2004-2011), serving as Chairman for the 30 member Board of Directors, including the Deans of Medicine for all major California medical schools (all UC medical schools, along with Stanford University and USC), and including the President of the Salk Institute, the President of the Burnham Institute, the President of the City of Hope, the Chancellor of UC Berkeley, along with multiple executive officers of biotech firms with proven therapy development experience and with multiple national leaders of patient advocacy organizations.
- Appointed by the Government of Canada to the Board of Genome Canada, a Canadian government genomic and proteomic research agency with $1.8 billion in a medical research portfolio as of the 2007-2009 timetable.
- Board Member of Lifeguard Healthcare Networks (2011 to current), a mobile phone based smart platform providing remote, expert, healthcare monitoring, for caregivers and patients, that includes full integration to hospital systems, medical specialists, general practitioners, and individual patient care networks to provide early interventions. Privacy and intervention levels are set my parameters programmed at the instruction of the patient’s physician, with patient consent. Currently this system is deploying through several regional healthcare systems in Australia, with negotiations for expansion to Japan, and contracts executed and/or in final negotiations with multiple national and/or regional US healthcare systems, insurers, and pharmacy programs.
- Board Member of the Ontario Institute for Cancer Research (OICR) (2011-2016), an affiliate of the University of Toronto Hospital System, established by the Province of Ontario, Canada, to fund cancer research and clinical trials. This entity also created the “Accelerator” subsidiary trust, FACIT (Fighting Against Cancer Innovation Trust), that created 17 spin-off private companies.
- To date, over $1 billion in licensing revenue estimated for cancer
- To date, over $1.3 billion in matching funds and financing attracted to just the
- Through the Board term, over $1 billion in Canadian governmental funding for the Ontario Institute for Cancer Research.
- Board Member of Stand Up to Cancer Canada (2014-2016), to advance the funding network for cancer research across the balance of North America, through this subsidiary of the Entertainment Industry Foundation, that represented the music industry, the television industry, and the movie industry, in their international and national charity programs.
- Chairman of the Board, Sponsor and Author of California Research, Treatments, and Cures Initiative of 2020 (Proposition 14) campaign, for $5.5 billion authorization of funding and the creation of a new public/private California funding corporation for stem cell and genetic research and human trials (2019-2020).