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About

We develop and manage real estate. For real change.

Since 1971, we have been working to improve the lives of working families by creating safe, secure housing communities where residents can build fulfilling lives.

We recognize that our legacy will be not only the buildings we develop, but also the neighborhoods they improve, the residents who call them home, and the employees who demonstrate the Pennrose core values to support our mission.

Pennrose has achieved a national reputation of excellence for real estate development and multifamily property management.

CLICK HERE to view the Pennrose brochure. 

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Mission, Vision & Core Values

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Mission

Our committed team of exceptional professionals transforms communities by creating high quality real estate developments and delivering outstanding value to our clients and partners.

External View of Stone Grove Crossing

Vision

Considered by all to be at the top of the multifamily and real estate industry, fueled by high caliber talent, financial strength, and a culture of continuous innovation of business practices.

Our Core Values

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Integrity

We act with honor, honesty, and fairness and we hold ourselves to the highest ethical standards.

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Collaboration

We support each other internally and externally to achieve our collective goals.

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Accountability

We are responsible and take responsible action. We say what we mean, we do what we say.

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Results Oriented

We take pride in achieving exceptional outcomes.

History

Pennrose began in 1971 with the goal of profoundly impacting the lives of working families through the development of affordable housing. Since then, we have honed our expertise through the successful completion of over 350 developments, more than 27,000 rental housing units, and oversight of $5 billion in total development costs.

Pennrose is a recognized leader in complex mixed-income multifamily and mixed-use development and professional property management services.
External View of Historical Building

Leadership

The Pennrose leadership team is a group of diverse, talented, and experienced individuals who exemplify the Pennrose Core Values and are driven to support the Pennrose Mission.

Owners

Richard Barnhart

Richard K. Barnhart

Executive Chairman of the Board

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Mark Dambly

Mark H. Dambly

Chief Executive Officer

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Timothy Henkel

Timothy I. Henkel

President

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Executive Team

Patrick Brala

Patrick J. Brala

Senior Vice President and Chief Financial Officer

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John Desantis

John DeSantis

Chief Information Officer

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Margot Elton Ratliff

Margot Elton-Ratliff

Vice President of Operations

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Richard Gower

Rich Gower

Senior Vice President of Asset Management and Treasurer

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Jennifer Hayward

Jennifer Hayward

Vice President of Transition Management

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Kimberly Moffa

Kim Moffa

Vice President of Human Resources

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Shannon Mowery

Shannon Mowery

Vice President of Community Impact

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Lee Reedy

Lee R. Reedy

Vice President of Marketing & Communications

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Cristi Resciniti

Cristi Resciniti

Chief Accounting Officer

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Ralph Saturno

R. J. Saturno

Vice President of Compliance & Legal

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Development

Charlie Adams

Charlie Adams

Regional Vice President, New England

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Tom Anderson Website Edit Recolored

Tom Anderson

Senior Vice President of Development

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Ryan Bailey

Ryan Bailey

Senior Developer

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Patrick Bateman

Patrick Bateman

Senior Developer

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Taylor Brown

Taylor Brown

Senior Developer

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Zach Cavender

Zachary Cavender

Regional Vice President, Texas

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Karmen Cheung

Karmen Cheung

Senior Developer

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2022 03 29 Pennrose Shannon Cox Linkedin Profile 493

Shannon Cox Baker

Regional Vice President, Mountain

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2021 12 15 Pennrose William D'avella Linkedin Profile 140413

William D’Avella

Senior Developer

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Ivy Carter

Ivy Dench-Carter

Senior Vice President of Development

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Jacob Fisher

Jacob Fisher

Regional Vice President, New Jersey & Pennsylvania

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Noah Freiberg

Noah Freiberg

Senior Developer

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2021 10 28 Pennrose Harishan Lamba Linkedin Profile 341209

Harishan Lamba

Senior Developer

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Amon Martin

Amon Martin, III

Regional Vice President, Southeast

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2022 09 22 Pennrose Geoff Milz Linkedin Profile 055808

Geoff Milz

Director of Development - OH

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Harry Moody

Harry Moody

Senior Developer

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Rio Sacchetta

Rio Sacchetti

Senior Developer

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Dylan Salmons

Dylan Salmons

Regional Vice President, New York

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Lindsey Samsi

Lindsey Samsi

Senior Developer

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Patrick Stewart

Patrick Stewart

Regional Vice President, Maryland, D.C., Virginia

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Brian Thomas

Brian Thomas

Senior Developer

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Tricia Yarger

Tricia Yarger

Vice President, Head of Capital Markets

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Management

Marsha Blunt

Marsha Blunt

President, Pennrose Management Company

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Kathi Garrone

Kathi Garrone

Vice President of Compliance

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Dana Green

Dana Green

Vice President of Operations

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Kevin Hankins

Kevin Hankins

Vice President of Maintenance

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Carmen Hendrickson

Carmen Hendrickson

Vice President of Operations

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Sharon Jacob

Sharon Jacob

Vice President of Operations

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ESG Image Website

Environmental, Social, Governance

Whether you call it ESG or corporate social responsibility, we at Pennrose just think it is the right thing to do. Our social impact, environmental standards, and governing strategies have always been as important to the organization.

The report linked below represents Pennrose’s first step in setting, measuring, and reporting quantifiable ESG metrics and activities, and will help guide us in identifying future goals. Our intent is to provide a level of transparency and detail for our current ESG efforts.

Click here to view "Making an Impact: Environmental, Social, Governance - 2022 Report"

Recognized for Excellence

The impact of the work we do is more important than any award we win – but it’s always nice to be recognized. Here are some recent honors our company, development projects, and team members have received.


2020 Healthiest Employer Logo

Healthiest Employer

Philadelphia Business Journal

Philadelphia, Pennsylvania

CBC Logo

Project Team Awards competition in the Large Multi-Family/Mixed-Use

Meriden Commons II

Meriden, Connecticut

Nj Future

NJ Futures Smart Growth

New Brunswick Performing Arts Center

New Brunswick, New Jersey

Sha Logo

Supportive Housing Project of the Year

Weinberg Commons

Cherry Hill, New Jersey

PBJ Healthiest Employers 2021

Healthiest Employers

Philadelphia Business Journal

Philadelphia, Pennsylvania

ULI Philadelphia

Award for Excellence

ULI Philadelphia

Crest Manor, Willow Grove, Pennsylvania

CBC Logo

Merit - Large Multi-Family/Mixed Use

Connecticut Building Congress

Village at Park River I, Hartford, Connecticut

Corp For Supportive Housing

Innovation Award

Corporation for Supportive Housing

Weinberg Commons, Cherry Hill, New Jersey

Novogradac

Development that Best Exemplifies Metropolitan Community Impact

Novogradac Journal of Tax Credits

50 Penn, Brooklyn, New York

MD DHCD

Outstanding Community Revitalization

Wilbourn Estates

Annapolis, Maryland

CREW CT

Blue Ribbon Award

Village at Park River III

Hartford, Connecticut

Affordable Housing Finance Mag

Readers' Choice Award - Historic Rehab

Mary D. Stone

Auburn, Massachusetts

Affordable Housing Finance Mag

Readers' Choice Award - Overall Winner

Mary D. Stone

Auburn, Massachusetts

Affordable Housing Finance Mag

Readers' Choice Award - Mixed-use Winner

50 Penn

Brooklyn, New York

Affordable Housing Finance Mag

Readers' Choice Award - Senior Housing Winner

Eastern Woods Senior

Findlay, Ohio

Ohio CDC Association

Project of the Year

John Arthur Flats

Cincinnati, Ohio

Sha Logo

Project of the Year

Village at Harmony Garden

Glassboro, New Jersey

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Silver Award - Apt. or Independent Living Community

Mary D. Stone

Auburn, Massachusetts

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Best Places to Work

Philadelphia Business Journal

Philadelphia

Nj Future

Smart Growth Award

One Thompson Avenue

Dover, New Jersey

Tax Credit Coalition

Charles L. Edson Tax Credit Excellence Award

Mary D. Stone

Auburn, Massachusetts

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Renaissance Award

Northside Village

Schenectady, New York