Greenville’s Affordable Upstate Welcomes New Leadership
In a big shake-up that has everyone talking, Affordable Upstate, a private equity firm based in Greenville, has just named Mario Brown as its new CEO. This exciting change signals a new chapter for the company, which has been a powerhouse in the realm of affordable housing since it opened its doors in 2016.
What Does This Mean for Affordable Upstate?
The announcement highlights the firm’s ongoing commitment to not just providing affordable housing, but also ensuring that investors see solid returns on their investments. Since its inception, Affordable Upstate has successfully raised over $55 million in investor equity, paving the way for strong exits and significant returns for its stakeholders.
Brown is no stranger to the multifamily investment scene. He bought his first multifamily complex in 2014, and since then, he has accumulated more than a decade of experience in the industry. He brings with him a wealth of knowledge and a strategic vision aimed at implementing scalable and cost-saving measures that will not only enhance the portfolio’s value but also improve the living conditions for residents.
A Vision for Affordable Housing
“My belief is that affordable housing and strong investor returns can go hand-in-hand,” Brown shared in a recent news release. He emphasized the company’s focus on innovative approaches, such as the Naturally Occurring Affordable Housing Property Management, and his partnership with the Southeast Affordable Housing Administration. Both initiatives are set to help the firm grow and maximize value, cutting costs while ensuring that residents feel a positive impact in their daily lives.
Brown passionately explained, “These initiatives allow us to tailor cost-saving measures that maximize portfolio value and enhance resident impact.” He is optimistic that with the newly strengthened leadership team, Affordable Upstate is in the best position to face current economic challenges, including the ongoing inflation.
Meet the New Leadership Team
But that’s not all! Affordable Upstate also welcomed Chris Rawlings and Sam Gooding into key roles. Rawlings, who joins as the fractional chief financial officer, brings three decades of experience in financial and strategic planning. He previously held the role of treasurer and director of accounting at Landmark Communications Inc., which signals a promising future for the firm’s financial strategy.
Meanwhile, Gooding steps in as an asset manager with an impressive track record. He has overseen more than $150 million in multifamily financing, employing specialized strategies for asset stabilization and adding value across various Southeast projects.
Brian Albers, another name that many in the industry recognize, is transitioning to a consulting role. He co-founded Affordable Upstate and will continue to support its mission, focusing on building community-centered partnerships through nonprofit work.
Looking Ahead
As Affordable Upstate takes these bold steps, Mario Brown was clear about the firm’s mission moving forward. “We remain dedicated to making responsible investments that enhance quality of life while also delivering long-term returns for our investors,” he stated emphatically.
With all this exciting news, it’s clear that Affordable Upstate is not just changing leadership; it’s also revitalizing its commitment to affordable housing and community enhancement in Greenville. As this new chapter begins, residents and investors alike will be watching closely to see how these changes shape the company and the impact it continues to make.
So, what’s next for this innovative firm in the Upstate? Only time will tell, but one thing is certain: they are ready to tackle the future head-on!
