ROCKVILLE, MD - CAPREIT Inc., a privately-owned real estate company exclusively focused on multifamily residential, announced today it has hired Kevin Smith as a Senior Vice President. CAPREIT commenced operations in 1994 and is headquartered in Rockville, Maryland. The company currently employs over 400 associates nationwide. CAPREIT owns, manages and/or asset manages approximately 32,000 units in 38 States. CAPREIT is a team of full service, vertically- integrated, dedicated, and experience real estate professionals. The senior management team at CAPREIT, led by Dick Kadish, has decades of experience in the acquisition, ownership, development, financing, property and asset management and disposition of multifamily real estate.
Smith’s role at CAPREIT will be to manage the existing debt and equity relationships of the firm, in addition to expanding the firm’s capital relationships. He will be involved in sourcing and closing large individual or portfolio acquisitions. Smith has 18 years of real estate experience. Prior to joining CAPREIT, Smith has held a number of capital market positions including Director of Mortgage Banking at Centerline Capital Group, Managing Director at HFF and President of ARK Realty Capital.
“I am very excited about my new position with CAPREIT as it is a very stable company with great people and a reputation for exceeding the expectations of its capital partners,” said Smith.
CAPREIT has acquired over 150 properties in excess of $2.5 billion dollars since inception. Approximately 75% of the investments have had a value-add component and the balance have either been core or affordable multifamily investments. They have worked in conjunction with some of the largest institutional investors including AREA Property Partners, Blackrock, Principal Financial Group and The Praedium Group to name a few. The company intends to acquire $500 million of value-add multifamily assets in its core markets over the next 18 months.
“We have had a long standing relationship with Kevin, and believe he will be a tremendous asset for CAPREIT, bringing with him great experience along with extensive access to capital market decision makers,” said CAPREIT founder and CEO Dick Kadish.