Washington, DC (October 7, 2016) – (RealEstateRama) — The Housing Partnership Equity Trust (HPET) has announced today a transition in executive leadership. After almost five years as CEO of HPET, Drew Ades is departing in pursuit of new opportunities.
Among his many contributions, Ades led HPET, a social-purpose real estate investment trust, through its creation and start up. Working with its member owners and investors, Ades has been integral to HPET’s acquisition and preservation of a portfolio containing over 2,750 apartments of affordable and workforce housing.
The HPET Board is pleased to announce that Nancy Rase has agreed to serve as the interim CEO while the organization conducts a national search for a permanent executive. Rase is highly regarded in the industry, having recently retired as CEO of the nonprofit developer and owner, Homes for America, after 20 years. As a founding board member and partner of HPET, Rase is deeply knowledgeable and committed to its strategy and success.
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