Bolour Hires David Stahl to Lead Development and Construction Division
LOS ANGELES — Bolour has hired David Stahl as a leader in its Development and Construction division, the firm announced Aug. 11, 2026. In the role, Stahl will be responsible for directing and integrating all of Bolour's real estate development, construction, tenant improvement, and capital project activities across its commercial real estate portfolio.
Role and Responsibilities
Stahl will serve as the single point of accountability for project scope, schedule, budget, and execution. His mandate also includes coordinating internal development and project management teams as well as external consultants. The breadth of the role — spanning development, construction, tenant improvement, and capital projects — positions Stahl as a central figure in how Bolour manages asset execution across its portfolio.
David Stahl's Background
Stahl brings more than a decade of commercial real estate experience to Bolour. He previously served as Development Manager for Southland Development Company, Asset Manager for Westminster Capital, and Project Manager for Goveia Commercial Real Estate. Across those roles, he developed a skillset spanning operations, acquisitions, and financial analysis, with a focus on optimizing return on investment through market analysis, strategic planning, and whole-project collaboration.
Stahl holds a bachelor's degree in Business Administration and Management from Rutgers University – Camden and an associate degree in Business Administration, Management and Operations from Atlantic Cape Community College.
Market Context
The hire comes as commercial real estate owners face heightened scrutiny on project economics and execution timing. U.S. commercial property values have declined an estimated 11% from their 2022 peak, compressing margins and raising the stakes for development and repositioning decisions. The commercial leasing industry generated an estimated $276.7 billion in U.S. revenue in 2026, though growth remains modest and performance varies significantly by asset class.
Leasing activity has increasingly concentrated in modern, well-amenitized properties, while older assets require active repositioning or capital reinvestment to remain competitive. Construction timelines and costs have grown less predictable, and tenant improvement clauses have become more consequential in lease negotiations — dynamics that make centralized oversight of development and construction a higher-priority function for portfolio owners.
Stahl's background bridging execution and underwriting — rather than a purely construction-focused profile — reflects the kind of integrated oversight that firms managing repositioning-heavy portfolios have sought to bring in-house as a margin-defense measure.
About Bolour
Bolour, formally known as Bolour Associates, is a commercial real estate firm active in lending, investment, and asset management. Recent firm activity has included a $14.2 million transitional refinance on a Los Angeles retail property, financing for a vacant retail reposition in Lodi, California, and a loan supporting the acquisition and reposition of retail in Anderson, California. In May 2026, the firm promoted Brad Fahlgren to Managing Director, Strategic Partnerships and Capital Formation.
Sources: Bolour Associates