Our Team


Steve Leonard

Managing Principal & Founder

After graduating from UCLA in 1977, Steve Leonard entered the real estate business as his primary profession. He formed Pacifica Holding Company in the early 1980s to take advantage of commercial real estate cycles, initially in Los Angeles, later in Denver in the early 1990s, and back in Southern California in the late 1990s. Mr. Leonard sold out of the majority of his real estate holdings in the mid-2000’s and waited to re-enter the real estate business in earnest until after the 2010 financial crisis. Since that time, Mr. Leonard has once again been involved in real estate projects along the west coast, including in San Diego, Seattle, Portland, Los Angeles and Santa Barbara.

Pacifica Capital Investments

Returning to Southern California in 1998, Mr. Leonard secured his Series 65 Securities License and founded Pacifica Capital Investments, LLC. The firm is dedicated to implementing the same value-based investment philosophy in public equities that he deployed successfully in commercial real estate
By concentrating holdings in the best managed companies, investing in only businesses it understands well, and buying stock when priced at a discount to intrinsic value, Pacifica has generated an impressive long-term track record. Mr. Leonard is Pacifica’s largest investor, and all of Pacifica’s key principals have the great majority of their wealth invested alongside clients in Pacifica.

Professional and Personal

Mr. Leonard has spoken at many investment forums, including the Value Investing Congress, both the LA and Denver Chapters of NAIOP, and the Colorado Real Estate Journal Forum. Mr. Leonard has served on the board of directors of both public and private companies, including Anton Properties, Colorado Gaming and Entertainment, BJ’s Restaurants, and Fortis Private Bank. He is also a founder of Brokers for Battered Kids, a charitable organization that has raised almost $3 million for disadvantaged children in the Denver area.
Steve and his wife Cindy have two children and reside in Santa Barbara, California.

Kari Lambert

Principal, Chief Operating Officer

Kari Lambert began working with Pacifica Capital Investments as a Research Analyst over 20 years ago. She now heads Investments and Operations for Pacifica, with leadership positions in virtually all aspects of Pacifica’s core operations, including research, trading individually managed accounts, regulatory compliance, marketing, investor communications, as well as overseeing Pacifica’s private equity ventures. Ms. Lambert has been a featured participant in an interview with Value Investor Insight as well participating and presenting at various other equity related conferences. Ms. Lambert passed the Series 65 exam and is a Registered Investment Advisor, and she also holds a California salesperson license in California.


Ms. Lambert graduated Magna Cum Laude and Phi Beta Kappa from the University of Puget Sound, and she lives in Austin, Texas with her three children.


Blake Isaacson

Principal, Sales & Marketing

Blake Isaacson has had a professional and investment relationship with Steve Leonard and Pacifica for almost thirty years. After graduating from Claremont McKenna College, he began working for Pacifica’s real estate brokerage affiliate in 1985 before initiating its entry into the Colorado commercial market in 1988 as Director of Acquisitions.

After that portfolio was bought a decade later, he used the proceeds to establish another successful one in Las Vegas that was sold in the mid-2000s.

Mr. Isaacson joined Pacifica as Principal, Sales & Marketing in 2005. During his tenure at the firm, assets under management at Pacifica have grown substantially. He has also assisted with the capitalization of several private equity and real estate ventures with Mr. Leonard.

Mr. Isaacson was a founder of CalNet Business Bank in 2001. He is a licensed real estate broker in California, where he has also been active in politics. As a result of that involvement, Mr. Isaacson was appointed to full-time positions in both gubernatorial and presidential administrations while living in Sacramento and Washington, DC.

Mr. Isaacson resides in San Diego, California and has three sons.

Blair Bodek

Principal, Chief Investment Officer

Blair Bodek started working with Pacifica as an equity research intern in 2014, while a student at Indiana University. After graduating in 2016, Mr. Bodek began working with Pacifica full-time and became a partner in 2022. His areas of responsibility include: conducting research on public equity investments, client acquisition, equity account management, investor communications, and marketing.


While at Indiana University, Mr. Bodek pursued a broad-based liberal arts education that included studies in history, economics, and business. He also studied the economics of the European Union in Budapest, Hungary and worked in Wellington, New Zealand for the Kaufman Foundation promoting entrepreneurship.

Prior to joining Pacifica, Mr. Bodek worked with Philadelphia Construction, a family business focused on real estate acquisition and management in Philadelphia. In this capacity, he held responsibilities in virtually all aspects of real estate investment management – market research, product acquisition, development, and property management.

Mr. Bodek currently lives in Philadelphia and is active in various community organizations including the Global Good Fund and Smith Memorial Playground.


Matthew Burton

Principal, Institutional Real Estate Investing

Matthew Burton has had a 10-year professional relationship with Steve Leonard before he formally joined Pacifica in January 2016. At Pacifica, Mr. Burton is the principal in charge of institutional real estate investing activities. These investment activities include direct real estate investments, partnerships and debt transactions.

Prior to Pacifica, Mr. Burton was a Principal at Mack Urban, where he was responsible for all equity and debt relationships and joint ventures. Mr. Burton was actively engaged in the planning, development, marketing and lease-up of over 4,000 multi-family units and sourced over $2.5 billion of debt and equity capital while at Urban. Prior to joining Urban Partners in 2003, Mr. Burton served for 8 years as Vice President with American International Group (AIG) and SunAmerica (Sun) in Los Angeles. Mr. Burton ran the West Coast loan origination platform for Sun and AIG. In this capacity Mr. Burton placed and managed hundreds of loans for over $3.5 billion. During his career, Mr. Burton has created and maintained strong personal relationships with key players in the capital markets.

Mr. Burton holds a B.A. degree in Government from The College of Arts and Sciences at Georgetown University and a Master of Business Administration from the University of Wisconsin-Madison.

Mr. Burton and his wife have two children and live in Vermont.