Richard Bennion Joins WNC as Senior Vice President of Capital Markets, Preservation Equity Funds
IRVINE, Calif., Jan. 8, 2020 /PRNewswire/ -- WNC, a leading provider of investment, asset management and development services for the affordable housing industry, announced today that it has hired Richard Bennion as senior vice president of capital markets, preservation equity funds.
"Richard is a respected and experienced capital markets professional who brings with him a wealth of relationships and an exceptional investment track record," said Will Cooper Jr., president and chief executive officer of WNC. "I am pleased to welcome Richard to WNC and I am confident that his knowledge and skillset will help us broaden our reach into the traditional real estate capital markets."
Bennion joins WNC after spending 12 years with Carmel Partners, a real estate investment management firm that focuses on U.S. multifamily development, renovation and debt. Ultimately serving as a senior vice president in investor relations, he helped raise more than $2.8 billion of equity for sector-specific, closed-end real estate funds that sought to deliver value-add returns through multifamily investments. Bennion helped successfully market and close three funds between 2011 and 2018. Previously, he spent time with HG Capital LLC and The Carlyle Group. He began his career in commercial real estate investments in 2005. Bennion earned a bachelor's degree from Brigham Young University and an M.B.A. from Harvard Business School.
About WNC
WNC, founded in 1971 and headquartered in Irvine, Calif., is a national investor in real estate and community development initiatives. WNC launched its preservation equity funds to acquire existing, affordable rental apartments with the objective of providing institutional investors with current income and the potential for capital appreciation. WNC has acquired more than $9.7 billion of assets totaling in excess of 1,400 properties in 47 states, Washington D.C., and the U.S. Virgin Islands. WNC's investor base exceeds 19,500 institutional and retail clients, including Fortune 500 companies, multinational banks, and insurance companies. Additional information is available at www.wncinc.com.
Contact
Julie Leber
Spotlight Marketing Communications
949.427.1391
[email protected]
SOURCE WNC
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