WASHINGTON--(BUSINESS WIRE)--Center Creek Capital Group ("Center Creek"), a mission-oriented housing investment and development firm specializing in affordable single-family rentals, has hired Megan McNulty as Director of Portfolio Management and promoted Akzahara “A.K.” McConaghy to the role of Director of Operations for the Center Creek Housing Funds.
McNulty will oversee Center Creek’s deployment strategy and acquisitions team, scaling the firm’s portfolio as it preserves and maintains affordability on hundreds of single-family rental homes across the southeastern United States. McConaghy will lead on-the-ground property renovations work, turnover management, and leasing operations across the firm’s portfolio.
The addition of McNulty and McConaghy to Center Creek’s senior leadership team comes as the firm is enhancing its strategic focus on affordable single-family rental homes as a critical solution for addressing the national housing affordability crisis. Center Creek’s Affordable Housing Impact Investment strategy invests to preserve and rehabilitate homes in underserved communities, committing the properties to long-term affordability and delivering value for investors looking to make impact at scale. Through its two active Center Creek Housing Funds, the firm is on track to hold and manage more than 500 affordable rental properties by 2023.
"Megan and A.K. have deeply relevant experience in the strategic leadership of funds devoted to single-family rental rehabilitation and management, making them great assets to the Center Creek team,” said Center Creek Founder and CEO Dan Magder. “We know that the nation’s housing affordability crisis cannot be solved with multifamily apartment buildings alone; single-family homes must also play a role. Megan and A.K. will help advance Center Creek’s industry-leading focus on generating positive social impact through the conversion of deteriorating housing stock into affordable rental homes, while also providing strong financial returns to our investors.”
McNulty adds substantial relevant expertise to Center Creek’s management team, having spent the past nine years in real estate investing. Most recently, she was the Vice President of Investments at The Promise Homes Company, where she worked exclusively in the single-family rental space. Previously, she was a Portfolio Manager in private banking at Merrill Lynch.
McConaghy also brings significant experience in operations to the Center Creek team, helping to ensure that the properties the firm offers to its residents provide a quality living experience. She formerly worked as Managing Director of Assets and Acquisitions for a private equity firm focusing on distressed multifamily and commercial assets and was also Director of Operations for a private equity firm investing in the construction of single-family homes.
“We are excited to bolster our team with the addition of Megan and A.K, and we are proud to note that half of our leadership team is now female,” said Magder. "Their track record in single-family real estate will help Center Creek expand our reach, during a time when housing affordability is a persistent challenge for far too many families.”
About Center Creek Capital Group
Center Creek Capital Group is a mission-oriented housing investment and development leader, generating value for our investors and transforming the lives of families in our homes. Founded in 2012, Center Creek operates across the southeastern United States and allocates capital along two primary investment strategies: Affordable Housing Impact Investments & Creative Housing Development. The firm’s Affordable Housing Impact Investments strategy preserves and rehabilitates homes in underserved communities to generate positive social impact alongside competitive risk-adjusted financial returns. Center Creek’s Creative Housing Development strategy leverages creative design and innovative land use to construct high-quality homes that are affordable to a range of buyers.