The Michaels Organization Tag Archives

Codorniu Joins Michaels as VP of Capital Markets

Cristhian Codorniu has joined The Michaels Organization as vice president of capital markets, the company said in a statement. In this role, Codorniu has lead responsibility for Michaels’ debt and equity platform that supports both new development and acquisition opportunities for Michaels. He succeeds Michael Flanagan, who was recently promoted to executive vice president of development for Michaels’ Student Living portfolio.

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Michaels Opens Caribbean Office, Welcomes New Regional Vice President

The Michaels Organization announced that it has significantly expanded its presence in the Caribbean, with the opening of a new regional office in Puerto Rico. The office will be headed by Michaels’ newly named Regional Vice President, Larry Padilla, who will focus on the redevelopment of Michaels affordable portfolio in St. Croix and St. Thomas in the Virgin Islands, as well as on new affordable and mixed-income development opportunities in Puerto Rico.

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Michaels Closes $61 Million Workforce Housing Deal in the Texas’s ‘Innovation Corridor’

The Michaels Organization successfully closed on $61 million in financing for Mission Trail at El Camino Real, a new mixed-income housing community in San Marcos, Texas, that will serve the city’s growing workforce. The majority of the 352 apartments will be reserved for households earning 60 percent or less of the area median income, while 10 percent of the units will be reserved for individuals and families earning less than 140 percent of the area median income. The community will also offer 35 apartments without any income restrictions

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