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LOS ANGELES, Dec. 07, 2017 (GLOBE NEWSWIRE) -- TruAmerica Multifamily has promoted Matthew Ferrari to Managing Director in charge of East Coast business operations and has made three key senior management hires in Florida and Northern Virginia as the Los Angeles-based real estate firm continues to broaden its vertically integrated investment platform to facilitate its rapid and controlled portfolio growth throughout the United States.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/d8cd9746-d651-4a98-b728-b714c53b59be
Ferrari, who has spent his entire 10-year career in the real estate property markets joined the firm in September 2016 as Eastern U.S. Director of Acquisitions. In that role, he has made a significant and immediate impact in TruAmerica’s national expansion. He was responsible for the acquisition of approximately $700 million in multifamily assets in Florida and Maryland, representing approximately 15% of TruAmerica’s more than 34,000-unit portfolio. In addition to his responsibilities of continuing to broaden TruAmerica footprint in the Mid-Atlantic and Southeastern states, in his new role, Ferrari also will manage all aspects of the firm’s asset and construction management functions on the East Coast out of TruAmerica’s Arlington, VA office.
TruAmerica also has announced three key additions to the East Coast team: Doug Kelley, Senior Director of Asset Management; Jeff Frederick, Director of Asset Management; and Ethan Pompey, Director of Capital Improvements.
“The addition of Doug, Jeff and Ethan will allow us to better serve our East Coast-based institutional investors, which include insurance companies, pension fund advisers, global real estate investment firms and large family offices,” said TruAmerica CEO Robert E. Hart.
Kelley will have direct oversight of all property operations functions on the East Coast partnering with Ferrari to run the Eastern U.S. region. Prior to joining TruAmerica, Kelley was Vice President of Development for Snell Properties Inc. responsible for all phases of development and value-add repositioning for the 70-year-old family owned real estate investment company. Previously, he was Director of Redevelopment and Asset Management at AvalonBay. Kelley received a BA in Business Administration from Lycoming College and an MS in Real Estate Development from The Johns Hopkins University School of Business.
Frederick has extensive knowledge of the Florida multifamily market through more than 20 years of asset management experience actively involved in the successful implementation of value-add interior and exterior renovation programs. He joins TruAmerica from Miami-based private investment firm Fifteen Group where, as VP of Asset Management, he was responsible for the firm’s 2,200-unit portfolio in Southern Florida. During his career, Frederick held similar roles with Metis Property Group and Franklin Street Real Estate Services. He earned a BS in Finance from Florida State University.
Pompey will manage the $22 million capital improvement budget for TruAmerica’s 3,400-unit portfolio in Florida out of the firm’s newly established Orlando office. With nearly 10 years of construction management experience, Pompey will be responsible for establishing construction scopes and budgets, soliciting bids, contracting the jobs, and overseeing construction to its completion. Prior to joining TruAmerica Pompey was Director of Construction at Pinnacle Property Management Services. Pompey earned a BS degree in Accounting from the University of Phoenix.
“Institutional real estate investors are increasingly global and metrics-driven, yet real estate remains a local, market-by-market, even a block-by-block art and we are dedicated to hiring the best and brightest professionals in the industry to achieve our goals,” explained Hart. “We look forward to 2018, and an even larger presence in the multi-family market, as we opportunistically build out our national platform.”
About TruAmerica Multifamily
TruAmerica Multifamily is a vertically-integrated, value-add multifamily investment firm based in Los Angeles. Founded in July 2013 as a joint venture between Robert Hart and The Guardian Life Insurance Company of America, TruAmerica has been one of the country's most active multifamily investors and manages a $7.1 billion portfolio of approximately 34,000 units across prime locations throughout Northern and Southern California, Washington, Oregon, Colorado, Arizona, Nevada, Utah, Maryland and Florida. For more information on TruAmerica Multifamily, visit http://www.truamerica.com or call (424) 325-2750.
Contact: Bruce Beck/DB&R(805) 777-7971; [email protected]