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Mr. DiFrank’s responsibilities include cash flow analytics, due diligence management, and oversight of third-party property service providers including construction managers and property managers as well as property performance analytics and review. Mr. DiFrank also serves as a non-voting member of both the Investment Committee and the Operations Committee.

 

Mr. DiFrank has been responsible for equity and debt transactions on more than 10 million square feet of multifamily, mixed-use, office, retail, industrial, and hotel properties located throughout the United States. He has performed a variety of property analysis, investment, and management roles over more than 30 years working for institutional investment firms and financial services companies. Most recently, Mr. DiFrank served from 2017-2019 as Chief Investment Officer for Streetscape Partners, a privately held real estate investment and development company focused on residential and mixed-use opportunities in the greater Washington D.C. region.

 

From 2006-2016, Mr. DiFrank was Director of Acquisitions for ROSS Companies. At ROSS, Mr. DiFrank was involved in investing in and recapitalizing over 7,000 apartments valued at more than $1 billion. His responsibilities included: sourcing new investment opportunities through relationships with owners, brokers, lenders, and other industry professionals; supervising underwriting of new investment transactions; leading due diligence teams consisting of attorneys, lenders, investors, brokers, and consultants; cultivating new investor equity and debt relationships; and negotiating investment transaction agreements. He led and participated in numerous transactions of up to $200,000,000 in individual value including a single value-add investment in an 1,180-unit workforce housing apartment community in Alexandria, Virginia which was renovated to improve workforce housing stability, availability, and quality for the community while increasing property net operating income to provide investors with income and IRR through an increase in value at disposition.

 

Prior to ROSS, Mr. DiFrank worked at Babson Capital from 2004-2006 and Well Fargo Bank from 1997-2004. During that period, Mr. DiFrank originated development loans, bridge loans, and mortgages on properties ranging across commercial real estate sectors and throughout the U.S.

 

Prior to Wells Fargo, Mr. DiFrank was the Controller for Washington Real Estate Investment Trust from 1995-1997 overseeing all accounting and internal and external reporting. From 1992-1995, Mr. DiFrank provided a variety of commercial real estate consulting services to institutional investors including Resolution Trust Corporation for auction investment due diligence and corporate finance support for firms including Federal Realty Investment Trust and the Inter-American Development Bank. In 1991-1992 during the S&L crisis, Mr. DiFrank was recruited to form the REO accounting department and serve on the bank disposition team for the packaging and disposition of First American Bank. Prior to the S&L crisis Mr. DiFrank was property manager for two Class A high-rise multi-tenant office buildings totaling over 500,000 square feet located in downtown Baltimore. Mr. DiFrank began his career in commercial real estate in 1987 working in the real estate investment group at Perpetual Bank.

 

Mr. DiFrank is a CPA. He has an M.S. in Real Estate from Johns Hopkins University and a B.S. in Finance from Bowling Green State University. Mr. DiFrank completed his accounting coursework for the CPA exam at The Ohio State University.

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