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Adams to Lead New England Office for Pennrose Properties
January 22, 2016
Charles L. Adams has joined Pennrose Properties, LLC to establish and lead the company’s northeast region office in Boston, MA, and to oversee and manage development activities in the New England area. Pennrose recently developed and currently manages The Jefferson, a 70-unit senior apartment building in New Britain, Connecticut, and is currently involved with additional development activities in the state. Adams brings more than 18 years of experience acquiring, developing and financing multi-family housing, including experience in the origination, acquisition, financial analysis, underwriting, and syndication of Low Income Housing Tax Credit developments. He will lead the execution and continued growth of Pennrose’s development pipeline within the northeast region, including all aspects of the real estate development process from initial conception through construction, to lease-up and stabilized occupancy or sale.
“We are fortunate to have someone of Charlie’s caliber join our organization and lead our development activities in New England,” said Mark H. Dambly, president of Pennrose Properties. “His experience and talents are ideal to lead Pennrose’s long-term growth strategy in that market and to be a collaborative team member to support our goals.”
Adams was most recently senior project manager with Preservation of Affordable Housing, Inc. where he structured and financed acquisition and redevelopment of real estate transactions. He has significant depth and diverse experience in the multifamily industry with experience working for a housing authority, as a syndicator and performing development responsibilities. Adams will be based in Boston.
“I am looking forward to using my skills and experience to contribute to Pennrose’s strategic goals in the northeast region,” said Adams. “The company’s New England pipeline is robust with a blend of affordable, market rate and mixed-income developments, which will be an exciting challenge.”