Who We Are

  Cardinal MF LLC
Cardinal MF LLC

Value-Add Company

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.

Our Team

Managing Partners

Steve Sanders Cardinal MF

Steve Sanders

Mr. Sanders has a thirty-eight (38) year career in real estate investments, development, dispositions, site selection, entitlements, and project management. He currently serves as a manager of Cardinal MF LLC. Mr. Sanders is also a partner, through his Sanders Family Investments LLC entity, in the 116 acre in-fill University Village project in San Antonio, TX, consisting of 998 units of multi-family, 300,000 feet of Office and 130,000 feet of retail. Cardinal developments include the 300-unit The Brick and Mortar District Phase IA and 331-unit Phase IB in Kyle, Texas, 324-unit Goodnight Ranch project in Austin, Texas, 200-unit Cove in Odessa, the 288-unit Vera in Odessa, 300-unit Lyric at the Merc and 348-unit Oxly at the Merc projects in San Antonio, Texas, the 288-unit Enclave on Ross Road in Austin, the 336-unit SoSA in San Antonio, and 285-unit Pathway on Woodrow in Denton, Texas.

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.

Bryan Brown Cardinal MF Headshot

Bryan Brown

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.

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, developer of the 300-unit Brick and Mortar District Phase IA and 331-unit Phase IB in Kyle, Texas, 300-unit Lyric at the Merc in San Antonio, Texas 348-unit Oxly at the Merc in San Antonio, Texas, 288-unit Enclave on Ross Road in Austin, Texas, 340-unit Goodnight Ranch Town Center in Austin, Texas, 336-unit SoSA on Palo Alto in San Antonio, Texas, 288-unit Vera In Odessa, Texas, 200-unit Cove In Odessa, Texas and 285-unit Pathway on Woodrow in Denton, Texas. Mr. Brown also serves as a development and financial advisor to UTSA BLVD IH10, LP, developer of the 998-unit University Village multi-family project and 116-acre mixed use development (San Antonio, Texas).

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 interests in Retama Park, including those owned personally, 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 transformed 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 including five HUD 221(d)(4) closings.

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.

Our Team

Directors

Charley Lloyd

Mr. Lloyd serves as Cardinal’s Director of Development. In this role he leads and manages preconstruction and construction activities for Cardinal’s development pipeline and directly oversees site due diligence, design and entitlements. Cardinal developments include the 300-unit The Brick and Mortar District Phase IB in Kyle, Texas, 324-unit Goodnight Ranch project in Austin, Texas, 200-unit Cove in Odessa, the 288-unit Vera in Odessa, 300-unit Lyric at the Merc and 348-unit Oxly at the Merc projects in San Antonio, Texas, the 336-unit SoSA in San Antonio, 288-unit Enclave on Ross Rd. in Del Valle and 285-unit Pathway on Woodrow in Denton, Texas.

Prior to joining Cardinal, Mr. Lloyd spent 10 years at The NRP Group, a nationally recognized multifamily developer and general contractor, where he held positions in Field Operations, Development, and Construction Services.

Charley graduated from Texas Christian University with a B.S. in Economics and currently resides in Lakeway, Texas with his Wife and two kids.

Longevity

We build long lasting relationships

Cardinal has two partners with over 60 years combined experience in multi-family,
residential, mixed-use, retail and office development as well as and high-level finance
and organizational leadership.

Cardinal MF LLC
We’re Quite Multi-Disciplined

How We Can Help You

Multi-Family

Cardinal has two partners with over 60 years combined experience in multi-family,
residential, mixed-use, retail and office development as well as and high-level finance and organizational leadership.
Cardinal MF LLC

Let’s Build Greatness Together