Vice President of Asset Management
Warren Horvath is responsible for leading the Pennrose asset management team, which is focused on maximizing the financial performance and value of its portfolio of more than 176 assets, comprising over 12,300 units. He is additionally responsible for expanding the overall scope of investment management capabilities of Pennrose by identifying and creating growth opportunities, cultivating the partnerships and attracting the capital to bring them to fruition.
Warren has more than 20 years of housing investment and finance experience, with broad base of expertise spanning across debt and equity, as an operator and investor, for affordable and conventional product, from both a transactional and corporate finance perspective. He is proficient in financial and partnership structuring of transactions, and has significant experience with the financial, tax, legal and regulatory implications of the multi-tiered financing of affordable housing, having successfully led or overseen more than $1.3 billion of transactions, and over 34,000 units.
Most recently, Warren was Vice President of Capital Markets for The Michaels Organization (TMO) where he was responsible for the strategic sourcing and deployment of debt and equity capital, along with acquisitions and management of capital partner relationships for the organization.
Throughout his career, he has served as a principal of the housing affiliate of a private equity investor, responsible for M&A activity in the affordable housing space; as a principal and head of acquisitions for Continental Realty Advisors, a national, multifamily private equity manager; as President of Mercy Housing’s Loan Fund, a national CDFI; and as Chief Investment Officer of The Community Development Trust (CDT) – the nation’s first affordable housing real estate investment trust (REIT).
Warren is active with several charitable and philanthropic efforts, is a member of the Urban Land Institute’s Affordable/Workforce Housing Council, has served as financial advisor to Habitat for Humanity International’s capital markets program, and has been honored as a national young leader in housing by Affordable Housing Finance magazine. He holds a Bachelor of Arts in Urban Planning from Rutgers University’s Edward J. Bloustein School of Planning and Public Policy.