WNC Taps Caruana as President, CIO of Newly Formed PEF Advisors

Affordable housing investment and development firm WNC has formed a new affiliate, Preservation Equity Fund Advisors, and appointed a president and chief investment officer of the new company from within its ranks.

Ann Caruana will lead the investment advisory firm as it acquires and preserves existing affordable housing in high-cost markets across the country. She is based in the firm's office in Irvine, California.

Caruana has more than 19 years of experience in the affordable housing and multifamily investment industries, specializing in underwriting and acquiring affordable rental housing investments while creating economic returns for investors.

For the past three years, Caruana served as senior vice president of WNC's preservation equity funds, where she oversaw the acquisition and asset management teams. Before that she worked with a private real estate equity firm, most recently as senior vice president of acquisitions, and previously spent nine years holding various research and investment roles at a publicly traded multifamily real estate investment trust.

“Ann is the right leader for PEF Advisors. She has unmatched knowledge and experience needed to make successful investments in affordable rental housing, but most importantly she is a natural leader with uncommon dedication and passion,” WNC President Will Cooper Jr. said in a corporate statement announcing the move.

Caruana is a member of the Urban Land Institute's women’s leadership initiative and the National Multifamily Housing Council's emerging leaders committee. She holds an MBA from the University of Miami in Florida and a bachelor’s degree in statistics and marketing from Miami University in Ohio.

LOS ANGELES

TruAmerica Promotes Mack Legette to Chief People Officer

TruAmerica Multifamily has named Eryn Mack Legette to chief people officer.

Mack Legette joined TruAmerica in 2018 as director of human resources. Since then, the firm said, she has been a driving force in furthering inclusion, diversity and belonging through HR programs and policies, hiring processes and the creation of dialogue and collaboration workshops.

“The dynamic personal growth of our employees under Eryn’s leadership can be seen in the remarkable strides we’ve made as a company,” TruAmerica founder and CEO Robert Hart said in a statement. “She has done a remarkable job to curate a culture of inclusion that has greatly impacted our bottom line.”

HOUSTON

Hartman REIT Announces Leadership Changes

Hartman Income REIT Management, a Texas-based commercial real estate owner and operator with $809 million in assets under management, has named Kelly Agent as its vice president of property management.

Agent joins Hartman with over 15 years of asset and property management experience in the commercial property sector, most recently as general manager for Midway, where she oversaw completion of a 20-acre, mixed-use development in Houston. Before relocating to Texas, she managed and oversaw budgeting for large high-rise offices in downtown Chicago and Indianapolis.

Agent's appointment follows the promotion of the firm's previous vice president of property management, Angel Gonzales, to the role of chief operating officer. Gonzales succeeds Kimberly Strickland, the firm's former COO, who transitioned into a new role as chief people officer with the company.

HAMPTON ROADS

Cobalt Hires Senior Executive Ahead of $50 Million Equity Raise

Cobalt Real Estate Solutions, a Virginia Beach, Virginia-based investment fund and fully integrated affiliate of Divaris Real Estate, has hired Tim McCann as chief investment officer.

In his new role, McCann will seek out investment opportunities, develop investment strategy and work with equity and lending partners to grow Cobalt’s portfolio of grocery-anchored and power centers. Over the next 24 months, Cobalt aims to raise $50 million in equity and add $150 million in properties to its Eastern U.S. portfolio.

McCann brings 35 years of real estate experience, having served in a variety of senior roles in property acquisitions, underwriting, mortgage origination and asset management for Broad Street Realty, Transwestern, Penrose, JP Morgan and AEW.

LAS VEGAS

Logic Continues Building Team With New COO

Joe Carbone has joined Logic Commercial Real Estate as chief operating officer.

In his new role, Carbone will oversee the design and implementation of business operations, organizational metrics, strategic direction and future expansion. The company has said it is looking to actively grow its team in the region.

Carbone's commercial real estate career spans the casino, venture capital, family office and consulting sectors, working with diverse enterprises and corporations in various finance, accounting, human resources and operations roles. He holds the Certified Financial Planner designation.

AUSTIN

Gahr To Lead North American Fundraising at Realterm

Realterm, an independent global investment manager in the transportation real estate sector, has hired Christy Gahr as director of capital markets for North America.

In her new role, Gahr will lead capital raising across the country and support the firm's product development and capital strategy initiatives.

Gahr joins Realterm from Virtus Real Estate Capital, a private equity real estate investment manager, where she most recently served as managing director and oversaw its capital raising and other strategic initiatives while serving as a member of its investment and diversity, equity and inclusion committees. Before that, Gahr worked as a principal with Meketa Investment Group and oversaw its real estate investments, discretionary and nondiscretionary real estate mandates and its general consulting practice.

ATLANTA

Wagner Joins Lee & Associates From CBRE

Lee & Associates Atlanta has hired Dan Wagner as chief data officer.

In his new role, Wagner will continue to focus on data and analytics while providing clients with the information needed to make decisions in the commercial real estate sector through in-depth reports, tracking, research, geographic information systems and advisory services.

Wagner brings more than 25 years of experience, holding various research leadership roles at the former Grubb & Ellis and CBRE, where he most recently served as vice president and head of U.S. field research and data intelligence.