IRVINE, Calif., Nov. 28, 2016 (GLOBE NEWSWIRE) -- WNC, a national investor in real estate and community development initiatives, announced today that Anand Kannan, president of its subsidiary, Community Preservation Partners, has been recognized as an Affordable Housing Finance 2016 Young Leader.
Kannan was recognized at AHF Live: The Affordable Housing Developers Summit, held in Chicago November 15 – 17. AHF recognized six individuals age 40 and younger as its 2016 Young Leaders.
“Anand is an integral part of the WNC team who has demonstrated a remarkable ability to lead and grow the Community Preservation Partners platform, which now totals more than 4,600 units nationwide,” said Will Cooper, Jr., president and chief executive officer of WNC. “He is very deserving of this prestigious award, and we couldn’t be more pleased to announce his recognition in leadership.”
During his time with Community Preservation Partners, Kannan has grown the firm’s portfolio from approximately 1,000 units to more than 4,600 units, with a combined development cost of approximately $750 million.
Kannan, who has approximately 15 years of experience in the development and preservation of affordable housing, joined Community Preservation Partners as vice president in 2010, and was promoted to president in 2014. The firm was founded by WNC in 2004 to address the growing need to preserve the aging affordable rental housing stock across the country. The company has successfully acquired, developed and rehabilitated more than 4,000 affordable housing units across the nation since its founding.
About WNC
WNC, founded in 1971 and headquartered in Irvine, Calif., is a national investor in real estate and community development initiatives, as well as a leading investor in low-income housing tax credits (LIHTC). WNC has acquired more than $7.7 billion of assets totaling in excess of 1,300 properties in 45 states, Washington D.C., and the U.S. Virgin Islands. Since 2000, WNC has been awarded four New Markets Tax Credit (NMTC) allocations, totaling $178 million, and has facilitated development of 17 low-income community projects. WNC’s investor base exceeds 19,500 institutional and retail clients, including Fortune 500 companies, multinational banks, and insurance companies. Additional information is available at www.wncinc.com.