Samuel Aflalo is the COO and Cofounder of Blackwood Developments. Mr. Aflalo is responsible for company operations and construction management.
Prior to cofounding Blackwood Developments, Mr. Aflalo served as the Senior Vice President of Acquisitions for American Homes 4 Rent (NYSE: AMH). His responsibilities included identifying and underwriting new markets nationwide, establishing key relationships with local real estate professionals and executing the AH4R’s acquisition strategy.
Mr. Aflalo began his career as a licensed real estate agent and top producer for Coldwell Banker Commercial Los Angeles. Coldwell Banker presented Mr. Aflalo with the International President’s Premier award in 2004 and 2005, and named Mr. Aflalo the #1 commercial agent for California and the #5 agent Nationwide in 2006.
Mr. Aflalo cofounded Imperial Residential Holdings LLC, a full service real estate investment firm specializing in acquiring and repositioning distress commercial and residential assets purchased at auction. Imperial Residential Holdings had offices in Los Angeles, Phoenix, Tucson and Atlanta.
Throughout his career, Mr. Aflalo has extensive experience with apartment and single family projects in the Los Angeles, Phoenix, and Dallas markets. In each market, Mr. Aflalo has completed numerous repositioning, infill, and gentrification projects.
David Eitches began his career as a licensed real estate agent and top producer for Marcus & Millichap within their Multifamily Division in Los Angeles. Having earned several prestigious awards within his first few years, Mr. Eitches quickly excelled in his role and realized his true passion for real estate investing. In 2005, Mr. Eitches joined The Charles Dunn Company where he led all brokers in Multifamily and Land transactions in 2006 and 2007. Mr. Eitches was an active real estate agent at these firms from 2003 through 2010 where he was responsible for more than $90,000,000 in transactions. As the real estate market came to a halt in 2009, Eitches began investing his capital in the SFR rental segment which he felt had the most opportunity at the time.
In 2010, Eitches left Los Angeles for Phoenix where he co-founded Imperial Residential Holdings LLC “IRH.” IRH served as a full service real estate investment firm specializing in acquiring, repositioning, and managing single family homes and apartment buildings purchased at auction and distress sales. IRH had offices in Phoenix, Tucson and Atlanta. Between 2010 and 2013 IRH was responsible for acquiring and repositioning more than 700 homes and 200 apartment units with a market value in excess of $180 million. IRH acquired funding from a few institutional partners including Ellington Capital Management and Wayne Hughes, the founder of Public Storage (NYSE: PSA) and American Homes 4 Rent (NYSE: AMH).
In 2013, David Eitches and Samuel Aflalo were named Senior Vice Presidents of American Homes 4 Rent. Based on the model they created in Phoenix, they helped their client Wayne Hughes, along with the Alaska Permanent Fund, acquire over $600 million of SFRs throughout specifically targeted submarkets forming a Real Estate Investment Trust. Two years later, American Homes 4 Rent rang the bell at the NYSE. Mr. Eitches and Mr. Aflalo headed acquisitions at AMH from 2013-2015. Mr. Eitches was responsible for opening eight acquisitions offices which acquired approximately 11,000 homes through his tenure there. Mr. Eitches left American Homes 4 Rent in 2015 and found Blackwood Developments in Dallas.
Mr. Eitches is the CEO and Co-founder of Blackwood Developments www.blackwooddevelopments.com based in Dallas, Texas. Mr. Eitches is responsible for acquisitions, financing and business development. Since its inception in early 2015, Blackwood Developments has developed over $25 million of ground-up construction and has acquired over 500 value-add multi-family units spread throughout 20 buildings. The current market value of the multi-family portfolio is more than $70 million. Mr. Eitches continues to grow his multi-family portfolio in the Dallas market and is shifting his development strategy to focus on ground-up store front retail in the strongest submarkets within Dallas.
Mr. Eitches earned a Bachelors in Science in Business Management from the University of Southern California. He studied International Economics at the Copenhagen Business School. Mr. Eitches is a member of the Dallas Builders Association.
Bo Lindsey is the Senior Construction Manager of Blackwood Developments. Mr. Lindsey is the head of our construction department and is responsible for overseeing permitting, land development, and construction.
Mr. Lindsey has been in the construction industry for 36 years, beginning at age 17, and later worked in the restoration field doing flood and fire restoration for 10 years. Mr. Lindsey was also VP of construction in the multifamily industry, where he managed over $600 million a year in construction budgets. Prior to his career at Blackwood Developments, Mr. Lindsey owned and operated Ranger Paint, which he took from conception to $5 million dollars a year in the first year. Mr. Lindsey is an expert and leader in construction, rehab, and make ready activities.