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Pennrose Adds Multifamily Investment Expert to Lead Asset Management Team

July 16, 2019

Pennrose has announced the addition of Warren Horvath as Vice President of Asset Management. His initial focus will be on maximizing the financial performance and value of the Pennrose portfolio. Horvath will also lend his capital markets expertise to the organization, especially his talent for bringing new investment to affordable housing and market rate transactions, ultimately expanding the overall scope of investment management capabilities of Pennrose by identifying and creating growth opportunities, cultivating partnerships and attracting the capital to bring them to fruition.

“Warren is a recognized expert in bringing new investment to affordable housing deals,” said Richard K. Barnhart, Chairman and CEO of Pennrose. “His experience acquiring, operating and creatively financing multifamily investments will enhance the value of our portfolio and spur future growth.” 

Horvath has more than 20 years of housing investment and finance, 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. 

“I am thrilled to join an organization with such a long history of developing and managing quality affordable housing, and look forward to working with an executive team that is best in class in every area” said Horvath.

Horvath 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.