Cardinal MF LLC
We are a value-add company with a primary focus on multi-family development in key market areas (with high levels of job growth). We pursue projects where we have significant experience and relationships leading to excellent development opportunities.
Cardinal MF LLC
Our Development Expertise
Cardinal’s development expertise is the ability to create a real estate strategy focused on risk-appropriate long term returns. We are not transactional in our approach and do not subscribe to the promote model which forces a reinvestment decision every 2-4 years.
Mr. Sanders has a long career in real estate development, investments, dispositions, site selection, entitlement, and management. He currently serves as a managing member of Cardinal MF LLC, the developer of the 360-unit Park at Marketplace in Kyle, TX. He is also the general partner of the 998-unit University Village project in San Antonio, TX. Mr. Sanders is the general partner of the University Village project, a 116-acre mixed-use development in San Antonio.
Prior to founding Cardinal, Mr. Sanders was responsible for all investments, dispositions, and asset management for the Texas region of Stratford Land, the largest land investment fund in the U.S. In his position at Stratford, Mr. Sanders managed sourcing and underwriting of all land acquisitions in Texas in addition to handling property sales and the entitlement process.
Before Stratford, Mr. Sanders was a partner with Jones Lang LaSalle/Staubach Co. In his eight years at JLL/Staubach, Mr. Sanders was lead broker on over $325 million in transactions. Mr. Sanders has been awarded the Austin Business Journal’s “Transaction of the Year” twice, for the development of the Goodwill Headquarters and for the relocation and re-development of Concordia University. He was awarded Broker of the Year in San Antonio for the relocation of the San Antonio Water System Headquarters. Major clients have included Apple, Electronic Arts, The Hartford, Cirrus Logic, The State of Texas, UTSA, Toyota and The University of Texas Medical Branch. He has practiced in multiple markets including Texas, Oklahoma, Florida, and Tennessee.
Mr. Brown has a diverse background of forming and operating businesses and real estate development. He serves as a managing member of Cardinal MF LLC, the developer of the 360-unit Park at Marketplace and as a financial advisor to UTSA BLVD IH10, LP, developer of the 998-unit University Village project and 116-acre mixed use project. Mr. Brown, through Cardinal, also serves in a financial advisory capacity for Anthem, a 673-acre master-planned community in Kyle, Texas and Windcrest Crossings, a 27-acre commercial project in northeast San Antonio.
Prior to founding Cardinal, Mr. Brown served as CEO of Retama Entertainment Group for more than 16 years and in the role, oversaw the operations of Retama Park. Following an extensive search and negotiation with several other potential acquirers, Mr. Brown negotiated and closed on the sale of Retama Park, including his personal interests, to Pinnacle Entertainment.
Prior to forming Retama Entertainment Group, Mr. Brown was Project Director of Riverwood and President of Riverwood Realty, Inc. and Riverwood Golf Club (Port Charlotte, Florida), a 1250-acre master-planned golf course community heavily amenitized with a championship golf course, community clubhouse/pool/tennis complex and river park. Under Mr. Brown’s leadership, an environmentally-complex property was turned into an award-winning residential development with a wide variety of single and multi-family offerings.
While at Riverwood he was Chairman and founder of the Riverwood Community Development District, which, through the issuance of bonds, built and financed all infrastructure of the project including a 1 million gallon per day wastewater treatment plant on site.
Mr. Brown has been involved in many major financings as well including institutionally placed debt, privately placed debt, privately placed equity, tax increment financing, special purpose districts and bond defeasance. Mr. Brown was the primary party responsible for all these financing activities.
Mr. Brown is a graduate of The University of Texas at Austin having received an MBA in Finance and Organizational Behavior and a BBA in Finance.
We build long lasting relationships
“Cardinal has two partners with over 60 years combined experience in multi-family,Cardinal MF LLC
residential, mixed-use, retail and office development as well as and high-level finance
and organizational leadership.”
We’re Quite Multi-Disciplined
How We Can Help You
residential, mixed-use, retail and office development as well as and high-level finance and organizational leadership.