The principals of Stonesfair, Karl Bakhtiari and Maryann Fair, have been involved in the construction, apartment, and retail real estate industries in California since the 1960’s. Karl Bakhtiari was an owner of Stonestown Galleria, a major regional shopping center in San Francisco, and of Stoneridge Shopping Center in Pleasanton. With a background in industrial-engineering and property management, Maryann Fair was the first female developer in Redding California.

In the period between 1994 to 2006, Stonesfair acquired apartment properties totaling over 2,500 units valued in excess of 350 million dollars.  Four of Stonesfair's larger acquisitions were the 201 unit Arioso Apartments in Cupertino, the 262 unit Riverview Ranch Apartments in Sacramento, the 376 unit Pheasant Run Apartments in Modesto, and the 350 unit Park Knolls Apartments in Turlock.  Stonesfair has further expanded its portfolio with several large retail and office properties in the state of Arizona.

- Aquisitions -