Andover Hill Investments, LLC

Andover Hill Investments, LLC (AHI) is a Midwest based apartment owner and operator involved in the acquisition, management, renovation and repositioning of apartment communities throughout the United States.  Over the last ten years, the principals of AHI have renovated and repositioned over 6,100 apartments units valued in excess of $500 million.  The principals of AHI have over 24 years of property management experience and an extensive track record in added value repositioning strategies. 

AHI has its own in-house property management team to handle the property operations, marketing and renovation program.  After acquisition (either outright sale, note purchase or equity interest in the partnership), we embark upon a capital improvement and marketing program to reposition the property to generate above market cash flow and residual returns to our investors. 

David Bornstein Founder and Managing Principal of Andover Hill Investments, LLC. Mr. Bornstein directs property management operations, renovation and marketing activities on AHI’s apartment portfolio as well as overseeing all activities leading to the sourcing, due diligence and acquisition of new properties.  He has accumulated over 15 years experience in real estate acquisitions and finance, having previously served as the vice president of acquisitions for Oculus Development and Plato Foufas & Co. where he acquired approximately 3,800 units.  Prior to Oculus Development and Plato Foufas & Co., Mr. Bornstein was the Chicago based acquisitions professional for Home Properties, the sixth largest publicly traded multifamily REIT.  Before joining Home Properties, Mr. Bornstein served as a vice president in Bank of America's real estate group providing financing and acquisition advisory services for over $1.0 billion of real estate transactions.  From 2003 to 2005, Mr. Bornstein served as an adjunct professor at Roosevelt University where he instructed graduate students on real estate valuation and investment analysis.  Mr. Bornstein received a Bachelor of Arts degree, a Masters in Business Administration and a Juris Doctorate degree from the University of Wisconsin.  He was admitted to the Wisconsin Bar in 1996. 

Key Relationships

An important competitive advantage in the growth of the business is the utilization and expansion of key professional relationships that conduct business regularly with the firm.  The following is a partial list of principal financial institutions with which the principals of AHI have consummated transactions and the group’s principal professional advisors.


  • Capmark
  • Archon Financial
  • Overland Capital
  • Wrightwood Capital
  • Cohen Financial
  • JER Partners
  • HUD
  • Freddie Mac
  • Terra Capital


  • Cooper-Horowitz
  • Marcus & Millichap
  • NAI Hiffman
  • Apartment Realty Advisors
  • CB Richard Ellis
  • Hendricks & Partners, Inc
  • Cushman and Wakefield

REITS and Other Owners

  • Home Properties
  • Equity Residential Properties
  • Camden
  • Mullenix Companies
  • ING Clarion
  • James Carr
  • Patton and Taylor

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