STEVEN PONTES

A native of Oakland, California, Steven M. Pontes began working in real estate in 1978 when he founded the real estate corporation SM Pontes Properties. He then worked for five years as Senior Advisor at one of the largest pension firms on the West Coast. Steven founded Oakland-based companies Pontes Financial Group, Ltd. and PFG Investment Services, Inc. in 1987 and 1996 respectively. Steven eventually sold his interest in PFG Investment Services to devote himself to real estate investing, development, and management full time. He was PFG's Senior Financial Advisor and headed its Real Estate Division, where he managed mortgage funds and real estate portfolios.

Beginning in 1992, Steven launched 5 mortgage funds and oversaw more than $250,000,000 in real estate-backed mortgage loans. In 1992 he launched Yosemite Mortgage Fund II, a $50 million company, which began as a public offering and was eventually taken private in 2005.

Along with Avi Ben-Zaken and Eric Cress, Steven went on to form Urban Development Partners NW, LP in 2006. Steven had a real passion for real estate, and creating UDP was the realization of a dream for him.

We are saddened to report that Steven Pontes passed away in early 2008. In addition to being a visionary businessman, Steven was a dear friend and a constant inspiration. We are dedicated to making UDP a company that he would be proud of.

You can read more about Steven Pontes in this article from The Oakland Tribune.