Robert N. Klein is President of Klein Financial Corporation, a company that designs and implements innovative solutions for affordable housing mortgage financing. Klein Financial Corporation acts as a development managing partner or as a development and finance consultant, assisting its clients with new construction, acquisition and rehabilitation of affordable multifamily and mixed-use developments. More than $5 billion in financing has been arranged by Klein Financial for its projects or those of its clients. Throughout its history, Klein Financial also has served as a financial advisor to state and regional public entities.
Additionally, Bob is President of Klein Financial Resources, Inc. (and the Klein Group) which undertakes prototype real estate development projects. Klein Financial Resources and Klein Financial Corporation have been the primary developer and/or redeveloper of 388,000 square feet of retail and office space as well as over 4,500 housing units. Klein Financial Resources, Inc. has been the development consultant for 2,000,000 square feet of commercial rental space; 7,000 housing units, and 10,000 acres, in the aggregate, of land development. In a co-investment, asset management role, Klein Financial Corporation also maintains a current portfolio of approximately 3,000 units; part of this portfolio involves value enhancement programs that are in progress.
Innovative Real Estate
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 “affordable housing”; and, 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, Bob 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 for which the project won the 1993 West Coast Builder’s Conference Gold Nugget Award.
- Designed and implemented two $250,000,000 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 space Student and Faculty Housing Program for California State University, Northridge during 1989 – 1992. Services included design development consulting, construction oversight consulting and permanent bond financing.
- Was recruited by the U.S. Department of Housing and Urban Development to develop a fully integrated, mixed-income housing project. Pursued litigation against the City of Torrance (Ogo v. City of Torrance) to achieve a landmark California legal decision on zoning/land use discrimination against racially and economically integrated housing.
Bob Klein is a member of both the California Bar Association and the American Bar Association. 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. Bob is a frequent speaker at conferences in the area of housing finance, redevelopment, and historic rehabilitation. He lives in Northern California with his wife and children.