ABOUT US
ABOUT US
Carter Multifamily Fund Management Company, LLC (“CMF” or the “Sponsor”) is focused on the acquisition of value-add multifamily real estate and the development of garden-style multifamily properties targeting a rapidly growing population of workforce renters in high-growth Southern and Mid-Atlantic U.S. markets. Driven by approximately 300 years of combined experience in the multifamily industry, CMF’s leadership team leverages beneficial capital and key industry relationships to acquire multifamily investments focused on GROWTH and INCOME.
Why Multifamily?
occupancy rate for U.S. apartments close to the all-time high
(as of December 2021)
of the U.S. population are homeowners – a 50-year low
(as of December 2021)
of Baby Boomers who are homeowners expect to rent their next home by 2023
Who We Are
Our team’s professional experience includes holding C-level and executive leadership roles at top commercial real estate firms, including:
A full-service national real estate investment, development and advisory firm with a 59-year history of success.
A commercial real estate investment company sponsoring non-traded REITs with portfolios totaling more than $3.8 billion in aggregate contract purchase price.
A real estate investment and management company specializing in conventional multifamily, student multifamily and scattered site housing.
A diversified real estate investment trust that, through its subsidiaries, owns a portfolio of multifamily, office and retail properties.
LEADERSHIP TEAM
JOHN CARTER | Executive Chairman, Carter Funds
John E. Carter is an industry veteran with more than 38 years of real estate experience in all aspects of acquisitions, financing, disposition, leasing and management. Mr. Carter is the Founder and Executive Chairman of Carter Multifamily.
Mr. Carter also serves as Executive Chairman of Carter Exchange, a DST (Multi-Investor 1031) Sponsor.
Mr. Carter also served as Chairman of Carter Validus Mission Critical REIT and Carter Validus Mission Critical REIT II which are public non-traded real estate investment trusts (REITs) focused on acquiring mission critical healthcare and data center facilities. He also served as Executive Chairman of the Sponsor, Carter Validus. During their last eight years, the Carter Validus REITs have raised over $3.0 billion of equity and acquired properties totaling $4.1 billion consisting of 150+ properties spanning 11 million square feet across 31 states. In 2016, under Mr. Carter’s leadership as CEO, Carter Validus REIT II was recognized as one of the best places to work, a top philanthropy company in Tampa, and as the fastest growing company in Florida with over 17,000% revenue growth. Over its lifespan, Carter Validus REIT I sold $1 billion in assets at a 30% profit, and in 2019, merged into REIT II to form a single $3.2 billion REIT.
Mr. Carter was a founding board member of Gulfshore Bank where he served on the board and on the loan and audit committees from August 2007 until the bank sold to Seacoast Bank in April 2017. Mr. Carter also formed Carter Investment Advisors in 1992, and has completed $9.7 billion of transactions across the U.S. for domestic and foreign investors. In 1990, Mr. Carter formed Newport Partners and grew the company into a full service real estate firm covering the major markets throughout Florida. In 2000, he merged Newport into Carter & Associates where he served as Vice Chairman and Principal for 17 years prior to retiring in 2017. In the 1980s, Mr. Carter worked at Citicorp where he focused on tax shelters, Industrial Revenue Bonds and other real estate financing transactions.
Mr. Carter earned a Bachelor’s Degree in economics from St. Lawrence University and a Master of Business Administration from Harvard University.
CINDY M. PFEIFER | CEO, Carter Mutifamily
Cynthia M. Pfeifer serves as our Chief Executive Officer and as a member of the Investment Committee of our advisor.
Ms. Pfeifer brings more than 30 years of experience in the commercial and multifamily sectors to Carter Multifamily Growth & Income Fund, LLC.
She most recently served as the USA Advisor and Joint Venture Partner for Pancho Real Estate Holdings, a privately held global real estate holding and finance company based out of Israel from October 2011 to August 2017. In this role, she matched foreign capital with U.S. real estate and advised investors on domestic markets and real estate.
Ms. Pfeifer served as President and Chief Operating Officer at Lane Co. from October 2009 to October 2011 where she stabilized and repositioned the company during a recession while debt and equity renegotiations were occurring on a $1.0+ billion portfolio. During that time, she positioned the company for growth that led to one of the largest acquisitions in the company’s history ($150.0 million). Ms. Pfeifer held the position of Chief Operating Officer from March 2007 to January 2009 and Chief Investment Officer from October 2006 to March 2007 for Place Properties, which was one of the top ten multifamily builders in the country and largest developer of off-campus student housing and off-base military housing. During this time, she oversaw the development and acquisition of a $900.0 million portfolio (33 properties) over the course of three years – from 2006 to 2009 – while managing an additional $400.0 million portfolio of multifamily assets. She also led the team of development, construction, acquisition, and property management and leasing personnel to establish and implement the strategic and tactical plans to implement their Funds’ investment strategies.
Prior to Place Properties, Ms. Pfeifer was an Owner, Executive Vice President and Chief Financial Officer at Carter & Associates, L.L.C, a full service commercial real estate development, brokerage and management company. Ms. Pfeifer served in various leadership positions between 1985 and 2006, leading all financial and treasury functions, asset management, marketing & research, IT and human resources. She developed and implemented strategies to position the company to take advantage of market and business conditions in a highly competitive and rapidly changing industry.
Ms. Pfeifer obtained a bachelor’s degree in Business Administration, majoring in Accounting from The College of William and Mary in Williamsburg, Virginia in 1981.
Gael Ragone | President, Carter Funds
Gael Ragone is the President of Carter Funds and has a diverse range of experience in commercial real estate and financial services. She specializes in investment sales, product development, acquisitions, due diligence, and financial underwriting. Throughout her career, she has been involved in over $4 Billion in alternative investment offerings and real estate transactions. As President, Mrs. Ragone oversees the sourcing, due diligence, and underwriting of potential commercial real estate opportunities for Carter Funds. She also manages investment operations, financing, budgeting, and dispositions for the company. Prior to Carter Funds, she worked for Carter Validus as Vice President of Product Management where she was responsible for supporting the company’s $3.5 billion+
equity raise.
Previously, Mrs. Ragone served as the Carter Validus Mission Critical REIT II National Product Manager for SC Distributors, representing Carter Validus on a national level. In this role, she served as the fund’s expert consultant to the national sales force. She traveled the country, cultivating numerous relationships within the industry, while speaking at broker-dealer conferences, industry events, client seminars, and advisor meetings. In this role, Mrs. Ragone raised over $400 million for Carter Validus Mission Critical REIT II in 2016 and 2017.
Prior to SC Distributors, she served four years at Carter Validus working with the Acquisitions and Credit Underwriting teams for the Carter Validus portfolios, aiding in the execution of more than $2 billion of Healthcare and Data Center transactions for the Carter Validus Mission Critical REIT portfolio. She also
coordinated third-party due diligence reports and helped develop new financial products. Prior to joining Carter Validus, Mrs. Ragone worked in leasing
and business development for Penn-Florida Companies, an owner and developer of commercial real estate.
Mrs. Ragone received a dual bachelor’s degree in Mathematics and Economics from the College of Holy Cross and an MBA with a concentration in Finance from the Huizenga College of Business at Nova Southeastern University.
RAY HUTCHINSON | CIO, Carter Funds
Ray L. Hutchinson serves as Chief Investment Officer of Carter Funds, President of Allegiant-Carter Management, and is a member of the Investment Committee of Carter Multifamily Growth & Income Advisors, LLC.
Mr. Hutchinson is a multifamily expert with over 25 years of REIT executive leadership, development, investment and operational experience in institutionally owned real estate and brings a vast array of acquisition, construction, and disposition experience to our advisor. He has been involved in well over $5 billion of investment activity including acquisitions, dispositions and development of garden, mid-rise and high-rise apartment homes. He also has extensive redevelopment experience having managed core and value-add portfolios with annual construction and redevelopment budgets of $35 million to $40 million.
He was a Partner and Chief Operating Officer of Chicago, Illinois-based Providence Management Company, LLC which owns and operates a portfolio of 12,000 apartment homes with a portfolio value of $1 billion. Mr. Hutchinson held key executive level positions from 2004 to 2010 with Birmingham, Alabama-based Colonial Properties Trust REIT – a Sunbelt REIT with over 45,000 units and $3.5 billion in value. While there, Mr. Hutchinson led and completed the integration of the $1.8 billion merger of Cornerstone Realty Trust into the operating platform of Colonial Properties Trust in 2005 and completed over $1.0 billion of dispositions to fund development pipeline requirements.
Prior to Colonial Properties Trust, Mr. Hutchinson served as Senior Vice-President of Charlotte, North Carolina-based Summit Properties REIT from 1992 to 2004, where he led a City Team that consisted of operations, acquisitions and development activities on a portfolio exceeding 10,000 apartment homes. He has also held senior leadership roles in local and state industry-specific associations and also served as a member of the National Multi-Housing Council’s Executive Committee, as well as serving as the former President of Big Brothers, Big Sisters of Birmingham.
Mr. Hutchinson received a bachelor’s degree in Business Administration majoring in Human Resources from the University of Central Florida in Orlando, Florida.
THOMAS W. GUARD | Chief Corporate Development Officer, Carter Funds
Thomas W. Guard serves as the Chief Corporate Development Officer and is a member of the Investment Committee of our advisor.
Mr. Guard has 30 years of experience in accounting and financial reporting, corporate finance, capital markets, and capital planning.
Prior to joining our advisor, Mr. Guard was Senior Vice President, Finance, of Uniti Fiber LLC from September 2016 through November 2017 where he led the accounting, finance and contracts administration teams.
From September 2007 through August 2016, Mr. Guard was Chief Financial Officer with Tower Cloud, Inc. prior to its merger with Uniti Fiber. While at Tower Cloud, he was responsible for all aspects of the company’s financial areas including capital and financial planning, accounting operations, financial reporting, treasury and all administrative and human resources functions. Mr. Guard was a key executive responsible for growing, financing, managing and then successfully selling the company to Uniti Fiber.
Prior to joining Tower Cloud, from April 2002 through April 2007, Mr. Guard was Senior Vice President and Treasurer with Global Signal, Inc., a publicly traded REIT, owner and operator of approximately 11,000 wireless communication towers with a $3.9 billion market value. While at Global Signal, Mr. Guard led the treasury, corporate development and contracts administration departments and was actively involved in structuring and raising $3.5 billion of CMBS and bank debt and its $145 million IPO used to finance its real estate, including the $1.3 billion acquisition of 6,600 towers from Sprint.
Mr. Guard started his career with Price Waterhouse in St. Louis spending four years there, then spent five years in banking and consulting positions.
Mr. Guard is a Certified Public Accountant licensed in the state of Missouri and obtained a Master of Business Administration from the University of Florida in Gainesville, Florida in 1992 and a Bachelor of Science in Business Administration in Accounting from the University of Missouri in St. Louis, Missouri in 1986.
JAMES S. SAULS | Executive Vice President, Carter Funds
James S. Sauls serves as Executive Vice President and as a member of the Investment Committee of Carter Multifamily Growth & Income Advisors, LLC.
Mr. Sauls is a 27-year veteran of the real estate industry, having built and managed several successful real estate firms all within the multifamily space.
He is the founder and has served as Chief Executive Officer of Benchmark Asset Management, LLC, or Benchmark, since November 1998. Benchmark is a multi-platform company, specializing in conventional, student and scattered site housing since 1998. Benchmark and its affiliates have participated in the acquisition, disposition and management of over 12,000 units representing over $750.0 million in value stretching from the Carolinas to Texas.
Mr. Sauls was a founding member of a student housing focused niche company, SHS Management, LLC (“SHS”), actively branded Student Housing Solutions, in which he was the active Chief Operating Officer from September 2003 to March 2012. SHS was ranked among the top 25 National Multifamily Housing firms by Student Housing Business during 2010 and 2011. In his position as Chief Operating Officer with SHS and its family of companies, he was responsible for overseeing all corporate operations while sourcing debt and equity for the companies’ new product development, product repositioning, acquisition and development. SHS actively managed in excess of 8,000 beds within its management platform. SHS and its predecessors and principals actively developed and principled over $400.0 million in real estate transactions throughout the southeastern United States, including over 11,000 student housing beds, of which approximately half were repositioned and 500,000 square feet of retail. During the period March 2012 to October 2016 he transitioned the COO responsibilities to a colleague, remained involved as a passive investor in SHS, and returned his focus to Benchmark.
Mr. Sauls participated in the startup of a community bank, Probank, where he was a 5-year board member from 2007 to 2011, and has been a licensed real estate broker in Florida since 1998.
Mr. Sauls received his bachelor’s degree in Accounting from Florida State University in Tallahassee, Florida in 1994.
WELDON EVANS | EVP, National Sales Director
Weldon Evans serves as Executive Vice President – National Sales Director at Carter Funds. He brings more than 35 years of experience to the company, with a successful track record of organizing and implementing targeted marketing strategies to raise capital in the institutional and retail investment space. He also brings many years of management, marketing, and brokerage experience.
Mr. Evans most recently worked as National Sales Director for ExchangeRight in Pasadena, CA from 2019 to 2021 where he managed sales and distribution for Exchange Right Essential Income Strategy (REIT) and 1031 DST tax advantage offerings in the Independent Broker Dealers and RIA channels. Under Mr. Evans’ leadership, Exchange Right experienced the best year in the company’s history with sales totaling $90 million in 2020, more than doubling 2019 sales of $44 million, despite COVID-19 challenges.
From 2014-2019, Mr. Evans served as Senior Vice President of the Southern Region at Preferred Capital Securities (PAC) where he managed sales of PAC preferred stock offerings to Independent Broker Dealers and RIA channels. His territory was #1 in the country for 3 years running, contributing over $200 million in capital raised in the preferred offering.
Prior to 2014 Mr. Evans served as the Eastern Divisional Director of American International Group (AIG), where he managed sales, marketing, training and product distribution for annuities and retail investment strategies for the company’s Financial Advisor channel. Selling groups included FSC Securities, Commonwealth Financial, Cambridge, Bank of America, Ameriprise, VSR, Investors Capital, Geneos, IFG, Next Financial, Queststar Capital, Capital Investments, United Planners, First Allied, Berthel Fisher, Kalos, among others.
In 2003, Mr. Evans was named Senior Vice President of the Eastern Division of Bank of America Capital Management where he developed sales strategies and managed wholesalers and selling groups, including Merrill Lynch, Wells Fargo, UB, LPL, Raymond James, FSC, AIG, Royal Alliance, Sun America, Wachovia, A.G. Edwards, Commonwealth, Investors, Capital, Cambridge, PacWest, VSR, IFG, First Allied, and JP Turner, among others. Mr. Evans also served as Senior Vice President, Southwest Division at Dreyfus, Senior Vice President and Partner at Roger Engemann/Phoenix Investment Partners, Inc, President & Managing Director, North America for American International Group, Vice President & Southern Region Divisional Manager for Keystone Investment Distributors/Keyport Annuity, Vice President of National Accounts at Alex Brown and Sons Securities, Inc, Vice President of the Southern Region for Cis Capital Income Fund, and Vice President of Birtcher Real Estate Partners.
Mr. Evans obtained a bachelor’s degree from the University of North Carolina and currently holds FINRA Series 7, 26, 63, and 65 securities licenses
RYAN GRAY | EVP of Investments, Carter Funds
Ryan Gray serves as Executive Vice President of Investments & Acquisitions at Carter Funds. In this role, Mr. Gray is responsible for the underwriting of all potential acquisitions and structuring investments to achieve targeted returns. He is also responsible for directing Capital Markets related activities for sourcing financing as well as third party equity when required to facilitate the acquisition process. Since joining Carter Funds, Mr. Gray has contributed to the growth of the platform by facilitating the acquisition and financing of $2B of multifamily assets.
Prior to joining Carter Funds, Mr. Gray most recently served as Senior Vice President of Capital Markets-Finance with Jones Lang LaSalle (“JLL”) working with the Multifamily Agency platform. Within the Capital Markets Platform, JLL services a debt portfolio of $18.15B and originates over $5B annually in Multifamily Agency Debt as a Fannie Mae DUS, Freddie Mac Seller/Servicer and FHA Map approved lender, annually. In this role, Mr. Gray was responsible for transaction review, structuring, pricing, as well as preparation of loan application packages, issuance of loan term sheets and transaction management from engagement to underwriting and closing. Since 2013, Mr. Gray executed over $5.5B of Agency Debt representing the financing of over 72,000 multifamily units.
Previously Mr. Gray served as Asset Manager with Grandbridge Real Estate Capital and was responsible for the daily servicing and asset management of multifamily loans originated under FHA programs 221(d)4, 223(a)7, 232(f). In addition, Mr. Gray oversaw BB&T Real Estate Funding’s $800M Bridge Loan Portfolio with responsibility for administering day to day loan advances associated with the development, rehabilitation and repositioning of Retail, Office, Multi-Family and Industrial Properties as well as oversight for monitoring credit risk for transactions and enforcing loan covenants. During his tenure Mr. Gray oversaw the funding and renovation of 6,065 multifamily units with a total capitalization in excess of $450M and average renovation cost per unit of over $22,000.
Mr. Gray has previously served as Managing Director of Office Leasing and Sales for Gramercy Capital Corp (formerly American Financial Realty Trust). As Managing Director, he was responsible for asset management as well as the development and execution of regional leasing and sales objectives. His focus encompassed over 253 assets containing 15.4 MM square feet situated in a 12 state region with major office towers in MSAs such as: St. Louis, Chicago, Charlotte, Asheville, Winston-Salem, Kansas City, Charleston, Atlanta, Jacksonville, Orlando and Miami. During his tenure at AFR, Mr. Gray successfully executed disposition transactions for over 2M square feet generating over $151M of sales revenue. He was supported by a team of four administrative personnel and over 70 third party brokers for which he was responsible for retaining and negotiating all terms of service contracts. This extensive network of independent brokers throughout the region contributed to the successful procurement of over 140 new lease transactions filling 337M square feet and generating over $4M in annual revenue.
Since 2002, Mr. Gray has structured and executed transactions in excess of $9.75 Billion. He received a Bachelor of Business Administration from Mississippi State University.
TODD REID | Chief Financial Officer, Carter Funds
Todd Reid serves as Chief Financial Officer of Carter Funds, bringing 20 years of experience in real estate, investment banking, and public accounting experience to the company.
During his career, Mr. Reid has led public and private equity-owned mergers, acquisitions, divestitures, capital raisings, and restructuring transactions across a variety of industries, including commercial and residential real estate.
Prior to joining Carter Funds, Mr. Reid worked for a multi-billion-dollar private investment firm where he handled all aspects of real estate acquisition and development. During his tenure, he successfully led efforts to acquire a large parcel of developable real estate in the Southwest through the federal bankruptcy process. Mr. Reid also served as the Chief Financial Officer of a rapidly growing private equity-backed roll-up in the residential services industry. Mr. Reid helped the company acquire 17 businesses across the Sunbelt, creating the largest company of its kind.
In 2017, Mr. Reid joined Summit Communities, a private equity-backed real estate firm, where he was the senior-most financial executive responsible for all aspects of the company’s financial and administrative operations. He was actively involved in deploying over $200 million in capital through acquisitions and refinancing its existing portfolio through the issuance of an $88 million agency facility. Mr. Reid played a crucial role in building the company into one of the largest platforms in its asset class, and ultimately, its sale to Blackstone’s non-traded real estate investment trust for $557 million.
Prior to Summit, Mr. Reid built a successful career as an investment banker with two leading middle market firms, Baird and Lincoln International, in Chicago. Prior to that, he served five years in public accounting at PwC. While at PwC, he completed a two-year secondment with PwC’s Capital Markets Group in Zurich, Switzerland, where he worked on cross-border transactions supporting U.S. and European clients.
Mr. Reid earned his MBA from Columbia Business School in New York. He also graduated with honors from the University of Florida, where he earned a bachelor’s and master’s degree in accounting. He is a Certified Public Accountant.
EQUITY SALES
BILL SHEA | SVP of National Accounts
Bill Shea serves as Vice President of National Accounts for Carter Multifamily, bringing over 25 years of experience in broker-dealer relationship management, Reg D offerings, private equity, alternative investments, and other financial products. Prior to joining Carter Multifamily, Mr. Shea was Director of National Accounts at Skyway Capital Markets where he was instrumental in signing 55+ firms for Carter Multifamily Fund II.
Prior to joining Skyway, Mr. Shea held the title of National Accounts Manager with Megatel Capital Investment where he was responsible for supporting and expanding the company’s broker-dealer network on a national level. Mr. Shea obtained 20-25 key selling agreements with firms such as Crown Financial, Strategic Financial Alliance, Arkadios, IPI, Lifemark, IAI, and others.
From 2005-2016, Mr. Shea was National Account Manager for Ridgewood Companies where he managed all aspects of relationships with broker-dealer partners within the independent broker dealer channel.
Mr. Shea also worked for Pacific Life Variable Annunities from 2001 to 2005 as Senior Key Account Manager. He was responsible for 22 firms whose combined sales surpass $1.4 billion in sales in 2004.
Mr. Shea graduated from Saint Michael’s College with a Bachelor of Science in Business Administration. He currently maintains FINRA Series, 6, 22, and 63 licenses.
WELDON EVANS | EVP, National Sales Director
Weldon Evans serves as Executive Vice President – National Sales Director at Carter Funds. He brings more than 35 years of experience to the company, with a successful track record of organizing and implementing targeted marketing strategies to raise capital in the institutional and retail investment space. He also brings many years of management, marketing, and brokerage experience.
Mr. Evans most recently worked as National Sales Director for ExchangeRight in Pasadena, CA from 2019 to 2021 where he managed sales and distribution for Exchange Right Essential Income Strategy (REIT) and 1031 DST tax advantage offerings in the Independent Broker Dealers and RIA channels. Under Mr. Evans’ leadership, Exchange Right experienced the best year in the company’s history with sales totaling $90 million in 2020, more than doubling 2019 sales of $44 million, despite COVID-19 challenges.
From 2014-2019, Mr. Evans served as Senior Vice President of the Southern Region at Preferred Capital Securities (PAC) where he managed sales of PAC preferred stock offerings to Independent Broker Dealers and RIA channels. His territory was #1 in the country for 3 years running, contributing over $200 million in capital raised in the preferred offering.
Prior to 2014 Mr. Evans served as the Eastern Divisional Director of American International Group (AIG), where he managed sales, marketing, training and product distribution for annuities and retail investment strategies for the company’s Financial Advisor channel. Selling groups included FSC Securities, Commonwealth Financial, Cambridge, Bank of America, Ameriprise, VSR, Investors Capital, Geneos, IFG, Next Financial, Queststar Capital, Capital Investments, United Planners, First Allied, Berthel Fisher, Kalos, among others.
In 2003, Mr. Evans was named Senior Vice President of the Eastern Division of Bank of America Capital Management where he developed sales strategies and managed wholesalers and selling groups, including Merrill Lynch, Wells Fargo, UB, LPL, Raymond James, FSC, AIG, Royal Alliance, Sun America, Wachovia, A.G. Edwards, Commonwealth, Investors, Capital, Cambridge, PacWest, VSR, IFG, First Allied, and JP Turner, among others. Mr. Evans also served as Senior Vice President, Southwest Division at Dreyfus, Senior Vice President and Partner at Roger Engemann/Phoenix Investment Partners, Inc, President & Managing Director, North America for American International Group, Vice President & Southern Region Divisional Manager for Keystone Investment Distributors/Keyport Annuity, Vice President of National Accounts at Alex Brown and Sons Securities, Inc, Vice President of the Southern Region for Cis Capital Income Fund, and Vice President of Birtcher Real Estate Partners.
Mr. Evans obtained a bachelor’s degree from the University of North Carolina and currently holds FINRA Series 7, 26, 63, and 65 securities licenses
JIM BULLOCK | SVP, National Sales Director - RIA and FO Sales
Jim Bullock serves as Senior Vice President, National Director of RIA & FO Sales for Carter Funds. Prior to joining Carter Funds, Mr. Bullock raised capital from RIA firms and family offices for a variety of private equity, private credit, private real estate and infrastructure funds.
Mr. Bullock has a passion for real estate, helping financial advisors and their clients succeed, and will focus on raising capital from RIA firms and family offices throughout the United States for Carter Funds.
With 13 years of experience in the financial services industry, Mr. Bullock earned his Certified Fund Specialist (CFS) designation and Certificate in Alternative Investments from the Institute of Business & Finance, and he is a level II candidate for the Chartered Alterative Investment Analyst (CAIA) designation.
Mr. Bullock graduated from the Marriott School of Management, Brigham Young University, where he received his Bachelor of Business Administration with an emphasis in Financial Services
MATT CALABRESE | SVP, West Region
Matthew Calabrese is a Senior Vice President for Carter Multifamily and is responsible for the Western US Region. Mr. Calabrese has 16 years of experience in the financial services industry. Prior to joining Carter Funds in 2021, he worked as Regional Vice President for Howard Capital Management selling ETF’s, Mutual Funds, SMA’s and SDBA’s in the West Coast Territory. Before Howard Capital Management,, Mr. Calabrese served as Regional Vice President for the Los Angeles region at Preferred Capital Securities selling Non-Traded Preferred Stock. Prior to joining PAC, he worked at Bluerock Capital Markets for six years in the Southern California region. He helped raise almost $1 Billion in Bluerock’s 1940 Act Fund, as well as over $100 Million in multiple Reg D offerings, 1031 Exchanges, and a Preferred Stock Offering. His region was consistently one of the top sales regions in the company, and he was awarded the AVP of the Year in 2017. Prior to joining Bluerock, Mr. Calabrese worked as Regional Marketing Director for Steadfast Capital Markets. During his time at Steadfast, he was awarded Outstanding Internal Wholesaler of the Year, and helped lead his territory to the top sales region within the company.
Prior to Steadfast Capital Markets, Mr. Calabrese worked for Waveland Capital Partners as a Corporate Finance Associate within the investment banking division and played an instrumental role in successfully completing six corporate finance transactions. He also worked as the dedicated Internal Wholesaler for the Western and Eastern regions, specializing in oil/gas and private equity offerings.
Prior to Waveland, Mr. Calabrese spent five years as a Wholesale Account Executive in the mortgage industry with Cambridge Funding, Aurora Loan Services, (Lehman Bros.) and Aegis Funding Corp. Mr. Calabrese graduated from Westwood College with honors and was inducted into the Alpha Beta Kappa National Honor Society. Mr. Calabrese also served as a Corporal in the United States Marine Corps and received his Honorable Discharge from the military in 2004. He currently holds his FINRA Series 7, 22, 63 and 65 licenses.
CHRIS HINES | SVP, Northeast Region
Christopher Hines has been named senior vice president of Carter Funds’ Northeast region, overseeing and identifying business growth and opportunity areas in the eastern coastal states. His territory encompasses Maine, New Hampshire, Massachusetts, Rhode Island, Connecticut, New York, Pennsylvania, Delaware and New Jersey.
Before joining Carter Funds, Mr. Hines worked as director of retirement plan services from 2019 to 2022 with HUB International, as vice president of business development for Waveland Capital Group from 2014 to 2018, and as business development manager for Ridgewood Companies from 2006 to 2014. He earned a bachelor’s degree in economics and history from the University of Massachusetts in Boston, an MBA from Fitchburg State University, and a Master’s in International Business from the University of London.
Mr. Hines maintains the Accredited Investment Fiduciary (AIF) and Certified Plan Fiduciary Advisor (CPFA) designations as well as FINRA Series 65, 6, 22, and 63 licenses. Mr. Hines also completed 24 years with the United States Air Force and USAF Reserve.
ROB CARTER | VP, Internal Sales, RIA & FO Sales - West/Southeast
Rob Carter joins Carter Funds as vice president and internal sales director for the RIA and Family Office sales team. Prior to his role at Carter, he previously worked as an analyst at Carter Funds’ prior companies where he evaluated and underwrote real estate investment opportunities. More recently, Carter has worked for multiple chemistry companies where he orchestrated investments in chemistry, pharmaceutical, electronic, and other private equity opportunities. Carter graduated with a bachelor’s degree in chemistry from the College of the Holy Cross in Worcester, MA. He holds FINRA series 7 and 63 licenses.
LEADERSHIP TEAM
CMF’s leadership team members have experience assembling or managing more than
$89 BILLION
in multifamily transactions totaling more than
1.0 MILLION UNITS
Our Commitment
Minimize risk through thoroughly-tested investment strategies
Conduct disciplined underwriting and due diligence to make the most beneficial investment choices
Provide scrupulous asset management, property management, and redevelopment project oversight
Maintain transparent and timely communications with stakeholders
Maximize portfolio and investment value
ACQUISITION STRATEGY
ACQUISITION STRATEGY
CMF will strive to acquire under managed, established, income-producing multifamily housing properties in high-growth markets throughout the U.S. that offer value-add enhancement opportunities and will meet the demands of Middle-Market America (“MMA”).
TARGET MARKETS
Strong Occupancy and Job Growth MarketsSecondary and/or tertiary markets experiencing population, job and occupancy growth.
ASSETS
Workforce Apartment HousingExisting Class B/C garden-style multifamily properties, typically pre-2005 construction.
UPSIDE
Value EnhancementUncovering value-add opportunities through operational improvements, renovations and asset repositioning.
Who is MMA?
BABY BOOMERS (Renters by Choice)
BORN 1946-1964
- 77MM people
- 83% plan to rent
- 44% of renter growth
- Affordability is a key decision factor
GEN X (Renters by Necessity)
BORN 1965-1980
- 65MM people
- One out of three rent
- Lost homes during recession
- Estimated to fill 2.7MM blue collar jobs
MILLENNIALS (Lifestyle Renters)
BORN 1981-1998
- 78MM people
- 50% are renters
- Fill most service sector jobs
- Highest student debt
GEN Z (Student Renters)
BORN 1999-2015
- 73MM people
- Contribute $44B to economy
- Student/college population
- Concerned about student loan debt
Acquisition Criteria
Asset Quality: B- & C-class properties requiring varying levels of renovation
Multifamily Asset Type: Garden-style Apartments
Building Age: Typically pre 2005 construction
With our leadership team’s combined operational experience and track record of assembling multifamily portfolios totaling more than $89 billion in aggregate purchase price, we stand ready to effectively acquire a broad spectrum of multifamily real estate investments—from single-assets to multi-property portfolios.
CONTACT US
CARTER MULTIFAMILY
4890 W. Kennedy Boulevard, Suite 200, Tampa, FL 33609
Phone: 813.281.1023
Email: ContactUs@carterfunds.com