AUSTIN, Texas, Sept. 22, 2020 /PRNewswire/ -- Pennybacker
Capital Management, LLC, a real estate-focused private equity firm
managing $3.2 billion of investments,
announced the appointment of two new senior executives within its
credit group.
The appointments by the Austin,
Texas-based firm include Steven
Parrinello as managing director and Sydney Mas as vice president.
Parrinello came to Pennybacker from Guggenheim Commercial Real
Estate Finance, where he originated and closed more than
$1.8 billion of senior, mezzanine,
and construction loans. Mas joined Pennybacker from WeWork, where
she focused on enterprise clients as part of the portfolio
optimization and asset management team. She and Parrinello
previously worked together at Guggenheim.
"Steven and Sydney bring extensive commercial real estate
finance experience to the firm," said Tim
Berry, Pennybacker's CEO. "Adding professionals of their
caliber will further our credit team's origination and structuring
capabilities, help us reach more plan sponsors, and capitalize on
attractive high yield opportunities."
Parrinello has over 15 years of experience in the commercial
real estate debt market. At Pennybacker, he is responsible for
developing and expanding the firm's high-yield commercial real
estate credit business. Before Guggenheim, he was head of
originations at Hudson Realty Capital and earlier served in a
senior role at CapitalSource Finance. He received a bachelor's
degree in business administration from Pace
University and a master's degree in real estate finance and
development from New York
University.
Mas is responsible for underwriting, structuring, executing, and
managing Pennybacker's credit investments. Before WeWork, she was
at Guggenheim Commercial Real Estate Finance, where she helped
originate, underwrite, and analyze more than $1.2 billion in commercial mortgage loans.
Mas received a bachelor's degree in business administration from
the University of Vermont.
About Pennybacker Capital
Pennybacker Capital is an
alternative investment manager focused on real estate private
equity and credit investments. Pennybacker employs an innovative,
data-driven, and collaborative approach to identify and execute
compelling real estate investment opportunities that aim to deliver
consistent risk-adjusted returns and improve the lives of teachers,
tenants, and teams.
Pennybacker pursues value, credit, and income and growth
strategies across all real estate asset classes and has a proven
12-year investment track record of investing in and/or operating
more than $3.2 billion of real estate
value throughout the United
States. To date, the firm has sponsored six discretionary
value-add real estate private equity funds, two real estate credit
funds, and four income and growth separate accounts. Pennybacker
has its headquarters in Austin and
offices in Denver, New York, and
Nashville.
www.pennybackercap.com.
Media Contact
Sarah Lazarus
CL-Media Relations, LLC
+1 617-335-7823
sarah@cl-media.com
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SOURCE Pennybacker Capital Management