Red Stone Equity Partners expands Acquisitions staff; makes key hires on both coasts
March 21, 2016
NEW YORK, March 21, 2016 – Red Stone Equity Partners, LLC ("Red Stone Equity"), a privately-owned real estate finance and investment company that provides innovative financial products and services to the multifamily housing industry, has made significant investments in personnel in the company’s Acquisitions group in the first quarter of 2016. Red Stone Equity hired Matt Grosz as Senior Vice President of Acquisitions-West Region, Darren Swanson as Senior Vice President of Acquisitions-Southeast Region and Kevin Bernardo as an Acquisitions-Analyst. These hires are intended to support firm’s business growth in 2016 and beyond.
“Building a solid foundation has always been paramount to our company and the timing of these hires align specifically with our goal to have a greater national presence and will help us to continue to build business in new areas,” said Eric McClelland, Red Stone Equity’s CEO and President. He continued, “We are excited to welcome Matt, Darren and Kevin to the Red Stone team and feel they can be valuable assets as we look forward.”
Matt Grosz, Senior Vice President of Acquisitions will be based out of San Diego, CA and will focus on the origination, acquisition, financial underwriting, partnership structuring and syndication of affordable housing tax credit investments in the western part of the United States. Grosz brings 13 years of combined experience in real estate investment, development and LIHTC syndication. Prior to joining Red Stone, Grosz worked for Chelsea Investment Corporation, one of the leading affordable housing developers in Southern California and the Southwest. Prior to joining Chelsea, he spent several years as part of the syndication team at Red Capital Group. Grosz will focus his origination efforts on the West region with particular emphasis on California, Oregon, Washington, Nevada, New Mexico and Arizona.
Darren Swanson, Senior Vice President of Acquisitions will be based out of the Charlotte regional office and will focus on the origination, acquisition, financial underwriting, partnership structuring and syndication of affordable housing tax credit investments in the Southeast region. Swanson has 10 years of experience in real estate finance and LIHTC equity investments with for profit, non profit and housing authority developers. Prior to joining Red Stone, Swanson was a Vice President at Bank of America where he worked closely with developers of affordable housing to provide a variety of real estate secured loans, tax credit equity investments and other bank products and services. Swanson will focus his efforts on Alabama, Georgia, Florida, North Carolina, South Carolina and Tennessee.
Kevin Bernardo joined Red Stone as an Acquisitions Analyst and is based out of the Charlotte regional office. Bernardo will be responsible for assisting in the origination, acquisition, financial underwriting, partnership structuring, and syndication of affordable housing and historic tax credit investments. Prior to joining Red Stone, Mr. Bernardo was an analyst at Wells Fargo Bank.
Red Stone Equity closed out 2015 with its most productive year and record volume of $591 million of tax equity raised. Since inception, Red Stone Equity has raised over $2.7 billion of equity and the equity proceeds raised to date has been used, along with other project- level financing sources, to finance the construction and/or rehabilitation of more than 20,000 units of affordable housing across 236 properties located in 31 different states, the District of Columbia and Puerto Rico.
About Red Stone Equity Partners
Red Stone Equity Partners, LLC is a leading real estate investment firm specializing in the syndication of Low-Income Housing Tax Credits to facilitate affordable housing development. Red Stone builds upon long-lasting relationships with investors and developers as it acquires, structures, and provides long-term asset management services to its institutional clients. Its senior management represents more than a combined 100 years of tax credit equity syndication experience, involving the acquisition and syndication of approximately $15 billion of tax credit equity. Red Stone Equity Partners has offices in Boston, Charlotte, Chicago, Cleveland, Los Angeles, and New York. For more information, please visit www.rsequity.com or www.linkedin.com/company/red-stone-equity-partners-llc.