The Pennybacker Way.

The interests of our tenants, teachers, and team, the 3Ts, inspire us to improve and consistently exceed our goals. We believe that transparency and the continuous search for value through the pursuit of repeatable outcomes is vital. We intentionally cultivate an environment that encourages deep analysis, challenges conventions, and rewards innovation to improve the lives of our 3Ts.

The people who make it possible.

Leadership

Timothy P. Berry
Founder, President and
Chief Executive Officer
Timothy P. Berry
Founder, President & Chief Executive Officer
Joined 2006
About
Timothy P. Berry is the Founder, President, and CEO of Pennybacker Capital, LLC, a real estate private equity firm he founded in 2006. Mr. Berry directs Pennybacker’s investment strategy and decisions, governance, and investor relations, and chairs the firm’s investment committee. Pennybacker has sponsored five discretionary real estate private equity funds within its value-add strategy, four separate accounts within the income and growth strategy, and two real estate credit funds. Pennybacker currently manages capital commitments across all these strategies on behalf of some of the largest public pension funds, endowments, foundations, and family offices in the United States. The firm has offices in Austin, TX, Denver, CO, New York, NY, and Charlotte, NC.
Michael C. O'Malley, CPA
Senior Principal
Chief Financial Officer
Michael C. O'Malley, CPA
Senior Principal
Chief Financial Officer
Joined 2008
About
Mike O’Malley designs and directs operational, commercial, and financial strategies that tightly align with Pennybacker Capital’s guiding vision. In addition, he provides sourcing and analytics for investment opportunities, forms and fosters investor relationships, and serves on the firm’s Investment Committee.

Mike was previously COO and Chief Financial Officer of VisionWeb, an eye care product ordering and claims management software company. Under his leadership, the firm closed six private equity placements and grew from fledgling status to a global services provider. Mike was recognized by the prominent trade magazine VisionMonday as one of its "Forty Under 40" list of innovative industry professionals to watch.

Early in his career, Mike was an auditor and later a consultant for Price Waterhouse and Ernst & Young Capital Advisors, now Macquarie Capital USA. He successfully delivered structured finance solutions to Fortune 500 clients, including multi-national bank groups and companies in the technology, manufacturing, and financial services industries.

Mike graduated cum laude with degrees in Accountancy and Computer Applications from the University of Notre Dame, received an MBA with highest honors from McCombs School of Business at the University of Texas, and is a Certified Public Accountant. He is a member of the Pension Real Estate Association, the Private Equity Chief Financial Officer Association, and the Real Estate Council of Austin and is an inaugural Advisory Board member of the Fitzgerald Institute for Real Estate at the University of Notre Dame.
Vince P. Reyna, CFA
Senior Principal
Chief Investment Officer
Vince P. Reyna, CFA
Senior Principal
Chief Investment Officer
Joined 2007
About
Vince Reyna oversees strategy, process, and partnerships along the continuum of Pennybacker Capital’s investments. He brings business and technical acumen to sourcing, closing, underwriting, and analyzing deal structures. Vince closely monitors existing investments and is a member of the firm’s Investment Committee.

Vince joined Pennybacker Capital subsequent to his tenure as vice president and senior underwriter with CIT Corporate Finance. At CIT, he analyzed and structured asset and cash flow based loans to middle market companies.

Prior to CIT, Vince helped Prudential Capital Group originate, analyze, and monitor cash-flow loans to middle market companies. His earliest private equity experience was marketing limited partnership interests for private equity funds at JPMorgan.

Vince earned his undergraduate degree in Astronautical Engineering from the U.S. Air Force Academy, a master’s degree in Electrical Engineering from the Air Force Institute of Technology, and an MBA from McCombs School of Business at the University of Texas at Austin. He holds the Chartered Financial Analyst designation and serves on the Small Scale Development Council of the Urban Land Institute.
Thomas Beier
Principal
Chief Operating Officer
Thomas Beier
Principal
Chief Operating Officer
Joined 2006
About
Thomas Beier leads the Investment and Portfolio Optimization Teams in identifying investment opportunities, establishing respective business plans, and evolving execution strategies to generate optimal returns for the Value Funds.  He is a member of the firm’s Investment Committee and Innovation Committee, directing research and adoption of emerging technologies to improve investment analysis, property performance, and portfolio management.

Before joining Pennybacker at inception, Thomas was a financial associate at N3 Development, a national real estate firm. His valued contributions at N3 included financial acquisition due diligence and securing construction financing. He also evaluated entity and project-level financial performance and capital structure.

Thomas initiated his real estate industry focus in the Assurance and Advisory Business Services unit of Ernst & Young. His group’s public and private clients included the nation’s largest homebuilder and a public office REIT. At his previous internship, Thomas supported sector research and portfolio analytics for small and mid-cap portfolios of Ranger Investment Management.

Thomas completed the Program for Leadership Development at Harvard Business School, an Executive Education Program designed to accelerate development of high-potential leaders.  Thomas graduated Summa Cum Laude from Texas Christian University with a Bachelor of Business Administration degree in Finance and Accounting. He is also a Certified Public Accountant and a member of the Urban Land Institute.
Alexander Zabik
Managing Director
Portfolio Manager, Credit
Alexander Zabik
Managing Director
Portfolio Manager, Credit
Joined 2018
About
Alexander Zabik has over 28 years of experience in the commercial real estate investment and debt capital markets sectors, focused on sourcing and managing high-yield and value-add real estate debt products. Alexander’s CRE debt transaction experience has spanned both the United States and Europe. His track record consists of over $4.5 billion of investments in over 167 separate transactions secured by all commercial real estate property types.

Alexander began his private equity investment career as a Managing Director of the BlackRock, Inc. Real Estate Debt Group. During his BlackRock tenure, he was responsible for the development and growth of the high-yield commercial real estate debt business where he originated and managed approximately $4 billion of investments including bridge loans, mezzanine loans, B-notes and preferred equity for all high-yield commercial debt vehicles. Alexander co-founded Carbon Capital, Inc., the firm’s first private equity mezzanine debt fund and its successor fund, Carbon Capital II where he served as portfolio manager and raised capital from institutional clients and pension funds.

Prior to BlackRock, Alexander’s commercial real estate experience included serving as advisor and underwriter on over $15 billion of performing and non-performing commercial mortgage securitization transactions for the RTC and as a senior member of the Structured Finance Group at Fitch Investors Service, Inc.

Alexander is a member of the Urban Land Institute, Pension Real Estate Association and the Real Estate Lenders Association. Alexander received a B.A. degree from Boston University and an M.B.A. in Finance from Babson College.
Edvin Beasley
Managing Director
Portfolio Manager, Value Funds
Edvin Beasley
Managing Director
Portfolio Manager,
Value Funds
Joined 2020
About
Edvin Beasley is a member of the investment team, with a focus on identifying and underwriting potential investments.

Prior to Pennybacker, Edvin spent nine years at Stream Realty Partners in Austin, Texas where he was responsible for the strategic direction and operation of the office leasing division. In this role, Edvin oversaw a portfolio of nearly five million square feet of Class A office space and advised both Stream and third-party clients in the valuation and underwriting of developments and acquisitions throughout the region. Edvin was recognized numerous times as a “Heavy Hitter” by the Austin Business Journal. Before joining Stream, Edvin worked for Trammell Crow Company in Washington, D.C., where he represented landlords and tenants throughout the Mid-Atlantic in both suburban and urban markets. He began his career at Deloitte concentrating on commercial real estate tax, valuing commercial properties for the development of tax appeal cases.

Edvin holds a Bachelor of Business Administration in Economics from Texas Tech University. He remains active with Tech’s Rawls College of Business and is a member of the Rawls Advisory Council. He is also a member of the Seton Fund Board of Trustees, NAIOP Austin Chapter Board and ULI Austin Advisory Board.
Richard Long
Managing Director
Portfolio Manager, Income & Growth
Richard Long
Managing Director
Portfolio Manager, Income & Growth
Joined 2014
About
Richard Long is a member of the investment team, with a focus on underwriting and closing potential investments. He also provides economic and submarket research.

Richard joined Pennybacker subsequent to his graduate internship in Invesco Real Estate’s Structured Investments Group in Dallas, TX. At Invesco, he evaluated structured investments in commercial real estate on behalf of a $1.5 billion opportunity fund. These investments included distressed loan acquisitions, recapitalizations, and subordinate debt originations. Richard’s career began as a capital markets analyst for Walker & Dunlop in Bethesda, MD, where he arranged debt and equity financing for all major property types throughout the Mid-Atlantic region. Prior to attending business school, Richard served as an assistant development manager for Vornado Realty Trust in Washington, DC. There he contributed to the strategic planning and redevelopment of over 5.2 million square feet of office space and more than 4,000 multifamily units.

Richard holds a Bachelor of Arts in Economics from the University of Virginia. He achieved his MBA from the McCombs School of Business at the University of Texas at Austin.   He is an active member of the Urban Land Institute, and an inaugural member of the ULI Austin Fellowship Committee focused on enhancing the real estate education from students and strengthening ULI's relationship with the Real Estate Finance and Investment Center at the University of Texas at Austin.
Jason Dean
Managing Director
Portfolio Optimization
Jason Dean
Managing Director
Portfolio Optimization
Joined 2014
About
Jason Dean leads Pennybacker’s portfolio optimization team. His responsibilities include management of portfolio investments, coordinating the firm’s principal investment management, and fund reporting.

Prior to Pennybacker, Jason held a graduate level internship in the investment and development group at Grosvenor in San Francisco.  At Grosvenor, he underwrote and analyzed more than $500 million in multifamily, mixed-use, and office development and investment opportunities.  He also developed tools to manage over $100 million of complex land acquisitions.  Jason was previously a director at AIMCO where he guided the $80 million re-development of 126 premium units in Core Madera, California and was responsible for asset management of AIMCO's Bay Area portfolio of more than 2,500 multifamily units.  Jason's career began as an assistant project manager for Project Management Advisors, Inc., a real estate consulting firm.  His responsibilities included equity investor due diligence management, RFP generation, bid analysis, and budget oversight.

Jason earned his MBA from the Haas School of Business at the University of California, Berkeley, with an emphasis in real estate and finance. As an undergraduate at Purdue University, he achieved a BS in Construction Engineering with a minor in Mechanical Engineering. Jason is an active member of the Urban Land Institute and a Level II candidate in the CAIA program.
Pam Harper, CPA, IACCP
Chief Accounting Officer
Pam Harper, CPA, IACCP
Chief Accounting Officer
Joined 2013
About
Pam Harper guides Pennybacker Capital’s finance, accounting, operational and investor reporting functions. She brings over 25 years accounting experience with 18 years in the real estate industry.

Pam was previously vice president and director of accounting for Cypress Real Estate Advisors, a private equity real estate investment firm in Austin, Texas.  During her 10 1/2-year tenure at Cypress, she was responsible for the accounting, investment administration, and treasury management functions for six real estate funds totaling over $1 billion in equity.

Pam began her career as an auditor with Price Waterhouse and has also held accounting positions in the banking and oil and gas industries. She then achieved a position as controller for The Ray Wilkerson Companies, an Austin-based investment firm with a focus in office and retail.  She subsequently advanced her career as senior controller for Buffington Capital Holdings, a real estate investment firm with a focus in residential real estate and homebuilding.

Pam received a Bachelor of Business Administration in Accounting and Finance from the University of Texas at Austin. She is a Certified Public Accountant and an Investment Adviser Certified Compliance Professional.
Lindsey Jacot
Managing Director
Chief Compliance Officer, Finance
Lindsey Jacot
Managing Director
Chief Compliance Officer, Finance
Joined 2019
About
Lindsey Jacot is responsible for preparation of the company’s fiscal operating plans and forecasts and coordinates finance and reporting activity as well as compliance. She manages cash requirements detailed by strategy and builds and maintains predictive fund level planning tools and models.

Prior to joining Pennybacker, Lindsey served as the Executive Vice President of Finance and Chief Compliance Officer for Titan Fund Management LLC, a registered investment advisor specializing in the management of real estate investments. She was responsible for structuring Titan Development Real Estate Fund I as well as the firm’s financial strategy, cash flow management, legal and fund administration relationships and compliance. Previously, she led corporate mergers and acquisitions analytics and forecasting for a bank holding company as Vice President of Financial Planning and Strategic Management. There she identified and evaluated investments to deploy $350 million in equity, growing bank assets from $200 million to over $4 billion.

Lindsey holds a Bachelor of Science in Applied Mathematics and an MBA from the University of New Mexico. Additionally, she holds a Master of Science in Operations Research and Financial Engineering from Columbia University.
Liz Weiner
Managing Director
Capital Formation & Corporate Strategy
Liz Weiner
Managing Director
Capital Formation & Corporate Strategy
Joined 2020
About
Ms. Weiner joined Pennybacker from Sundial Park Group, a strategic marketing firm she founded, where she led a team that worked with some of the real estate investment management industry’s leading platforms.

Before Sundial, she was the co-founder of KAP Group, which pioneered fundraising and investor relations consulting. Prior to KAP, she held multiple roles at Credit Suisse, most recently in Credit Suisse’s Real Estate Private Fund Group and in the Real Estate Finance and Securitization group where she headed underwriting in the Small Balance Loan Program.

Ms. Weiner received a BA from Barnard College and an MBA from the Wharton School.

Team

Investments

Steven Parrinello
Managing Director
Credit
Steven Parrinello
Managing Director
Credit
Joined 2020
About
Steven has over 15 years of experience in the commercial real estate debt market across a variety of loan profiles, both senior and subordinate debt. He has financed all major property types with significant experience across various U.S. property markets.

Prior to Pennybacker, Steven worked at Guggenheim Commercial Real Estate Finance focusing on originations across Guggenheim’s lending products including life company, CMBS, agency, bridge and construction loans. During his tenure at Guggenheim, Steven originated and closed over $1.8 billion of on-balance sheet permanent, CMBS, bridge and construction loans. Steven also assisted in the asset management activities related to the on-balance portfolio including asset management requests, monthly loan advances and loan surveillance.

Prior to joining Guggenheim, Steven was head of originations at Hudson Realty Capital, a real estate private equity fund manager with more than $2.5 billion of assets under management. Hudson’s activities include originating and acquiring high-yield, special-situation debt and mezzanine loans. During his tenure at Hudson, Steven originated and closed over $400 million in bridge and construction loans.

Prior to joining Hudson, Steven was at CapitalSource Finance for 6 years, where he underwrote and closed over $1 billion of loans for a wide variety of property types including perm, bridge and construction loans.

Steven is a member of the Mortgage Bankers Association, New York Private Equity Network and the Real Estate Finance Association of Connecticut. Steven received a B.B.A. from Pace University and a M.S. in Real Estate Finance and Development from New York University. Steven is a licensed real estate broker in New York, California and Pennsylvania.
Patrick Rippe
Managing Director
Portfolio Optimization
Pat Rippe
Managing Director
Portfolio Optimization
Joined 2019
About
Pat Rippe is a member of the portfolio optimization team where he leverages his previous experience with strategy development, project management, leasing and operations.  He is a member of the firm's Innovation Committee and is located in the Denver office.

Prior to Pennybacker, Pat led asset management and development for Tishman Speyer in Southern California where he was responsible for developing and implementing asset strategy for a portfolio comprising 11 assets totaling 3 million square feet of Class A creative office space.  In this role, Pat led several major redevelopments and renovations of these assets, oversaw leasing and property management, coordinated debt strategies, and managed partner relationships.  Pat originally joined Tishman Speyer out of business school as a member of the Leadership Development Program and was then promoted to director in the New York development group.  In this role, he was responsible for underwriting and managing major development and redevelopment projects including office, hospitality, and multifamily. Prior to business school, Pat spent 5 years with JLL as a member of the development and asset strategy group in Chicago and as a member of the tenant representation group in Los Angeles where he specialized in office leasing.

Pat holds an MBA from the Ross School of Business at the University of Michigan where he graduated with distinction.  Pat holds a Bachelor of Science in Business Administration with a dual major in Finance and Real Estate from the University of Missouri where he graduated cum laude.
Eric deYoung
Vice President
Portfolio Optimization
Eric deYoung
Vice President
Portfolio Optimization
Joined 2018
About
Eric deYoung is a member of Pennybacker’s portfolio optimization team. His responsibilities include investment management and market research.

Before joining Pennybacker, Eric was a Land Development Consultant with Armbrust & Brown, PLCC. He assisted with development, entitlements, real estate transactions, and general real estate related matters for a variety of projects including economic incentive packages.  Prior to that Eric led a local division for a land development and home building company.  While there he negotiated and monitored agreements with contractors and vendors, including vertical and horizontal improvements.  Eric was previously an analyst with Cypress Real Estate Advisors, where he assisted with financial underwriting, due diligence, asset management, marketing, and disposition of real estate assets.

Eric is a graduate of John Carroll University, with a Bachelor of Arts in Economics. He is also a member of RECA.
Andrew Dolling
Vice President
Portfolio Optimization
Andrew Dolling
Vice President
Portfolio Optimization
Joined 2016
About
Andrew Dolling is a member of Pennybacker’s portfolio optimization team. He is responsible for overseeing the execution of multifamily investments, including investment business plans, property due diligence, design, branding, construction, operations and dispositions.

Before joining Pennybacker, Andrew was a Senior Associate at PwC in London. He worked in the Banking & Capital Markets group providing assurance for a number of large investment banking clients. In this position, he gained significant experience in financial analysis and the valuation of financial products across credit, mortgages, currencies, equities, and interest rate product trading desks. He also worked with clients on the revaluation of private equity positions, with aggregate value of several billion dollars.

Andrew completed his undergraduate degree in History at the University of Oxford in England. He is an ACA qualified chartered accountant with the Institute of Chartered Accountants in England and Wales.
Azim Hajjar
Vice President
Portfolio Optimization
Azim Hajjar
Vice President
Portfolio Optimization
Joined 2015
About
Azim Hajjar is a member of Pennybacker’s portfolio optimization team. His responsibilities include investment management, fund reporting, and market research.

Before joining Pennybacker, Azim was a senior analyst for Live Oak–Gottesman. He was responsible for providing financial analysis and underwriting for over $250 million in office and mixed-use opportunities. Azim was previously a consultant for FTI Consulting in New York, where he worked in an advisory role for Fortune 500 clients. He conducted financial and operational assessments for distressed clients in the financial services and healthcare space.

Azim is a graduate of the Mendoza College of Business at the University of Notre Dame, with a Bachelor of Business Administration in Finance and an International Business Certificate. He is also an active member of the Urban Land Institute and RECA.
Reagan Hall
Vice President
Credit
Reagan Hall
Vice President
Credit
Joined 2018
About
Reagan Hall is responsible for the analysis and underwriting of Pennybacker's credit investments. His duties include financial modeling and sensitivity analysis, conducting detailed market research, preparing transaction summaries, preparing investment memorandums and coordinating due diligence processes for successful transaction execution.

Prior to Pennybacker, Reagan was an Analyst at AEW Capital Management’s Partners Group, where he helped underwrite, analyze, close and asset manage debt and equity investments for two $500M opportunistic private equity funds. Reagan has performed underwriting and valuation analyses of all major commercial real estate property types including office, retail, multifamily, hospitality, industrial, and senior housing.

Prior to AEW, Reagan worked at NewStar Financial, Inc., a public middle-market balance sheet lender, as a member of the CRE Lending team. As part of his responsibilities at NewStar CRE, he assisted in the due diligence, modeling and underwriting phases of transitional middle-market lending opportunities across all asset types ranging from $5-25M.

Reagan received a Bachelor of Science in Finance from Boston College’s Carroll School of Management. Reagan is a member of CREFC Young Professionals, and the Joseph Corcoran Center for Real Estate and Urban Action.
Sydney Mas
Vice President
Credit
Sydney Mas
Vice President
Credit
Joined 2020
About
Sydney Mas is responsible for the underwriting, structuring, execution and management of Pennybacker’s credit investments.

Prior to Pennybacker, Sydney was an Associate Director on the Real Estate Advisory team at WeWork, where she helped in multiple aspects of the business, including the underwriting and structuring of deals for WeWork’s Enterprise clients and portfolio optimization and asset management of WeWork’s East Coast portfolio.

Sydney received a Bachelor of Business Administration from the University of Vermont, where she played on the women’s lacrosse team and was a four time All-American.
Patrick Murray
Vice President
Equity
Patrick Murray
Vice President
Equity
Joined 2019
About
Patrick Murray is a member of the investment team and is responsible for sourcing, underwriting, structuring, and closing potential investments. He is also focused on market research, theme identification, and investment management.

Prior to Pennybacker, Patrick received his MBA from the McCombs School of Business at the University of Texas at Austin. While at McCombs, he served as the Co-President of the Graduate Real Estate Society and completed graduate internships with HFF and Pennybacker. Patrick’s career began as a transfer pricing advisor at Duff & Phelps in New York, where he conducted financial and operational valuations for multinational corporations to institute and assess their transfer pricing policies.

Patrick holds a Bachelor of Business Administration in International Business from the McDonough School of Business at Georgetown University, where he was a four-year letterman and team captain of the men’s lacrosse team. He is also an active member of NAIOP’s Developing Leaders program.
Sam Mysock
Vice President
Equity
Sam Mysock
Vice President
Equity
Joined 2017
About
Sam Mysock is a member of the firm’s investment team. His responsibilities include researching and underwriting potential investment opportunities, as well as investment management.

Sam received his MBA with a concentration in Real Estate Finance from the McCombs School of Business at the University of Texas. During his time at McCombs, he was a member of the winning team for the 2016 National Real Estate Challenge, and he completed internships with HFF and Pennybacker.

Prior to business school, Sam was a Research Manager at Gerson Lehrman Group, where he was a member of the hedge fund team managing due diligence projects on healthcare, real estate, energy, and technology investments.

Sam completed his undergraduate degree in History from Columbia University, where he was a three-year captain of the golf team. He is an active member of the Urban Land Institute.
Brett Zimmerman
Vice President
Equity
Brett Zimmerman
Vice President
Equity
Joined 2015
About
Brett Zimmerman is a member of the investment team, focused on sourcing, underwriting and structuring potential investments. His responsibilities include market fundamentals research, theme identification, investment valuation, and acquisition closings.

Prior to joining Pennybacker, Brett completed the CBRE Wheel program at CBRE headquarters in Los Angeles, where he had exposure to multiple business sectors including CBRE Global Investors, Brokerage Services, and Financial Consulting and Underwriting. Brett’s real estate career began with an internship at HFF, where he served on the debt and structured finance team.

Brett holds a Bachelor’s degree in Finance from the University of Denver. He is an active member of the Urban Land Institute and NAIOP.
Megan Billingsley
Associate
Megan Billingsley
Associate
Joined 2020
About
Megan Billingsley is the primary reviewer of Pennybacker properties’ monthly reporting. Her responsibilities include being an accounting liaison for all joint venture partners and third-party property managers, and preparing and managing the fund-level valuation process.

Prior to joining Pennybacker, Megan was a senior associate with PwC’s Assurance practice. She performed financial statement audits on complex private equity funds and registered funds with multi-billion dollar assets under management. Megan led and delegated tasks to several teams to ensure collaboration and high quality work papers, to meet all deadlines, and to oversee the testing of material financial accounts and disclosures.

Megan holds a Bachelor of Science in Accounting and a Masters of Science in Accounting from Oklahoma State University, graduating with a 4.0 average. She is a CPA licensed to practice in Texas.
Brendan Keen
Associate
Brendan Keen
Associate
Joined 2019
About
Brendan Keen is responsible for supporting the underwriting and asset management of Pennybacker’s credit investments. His duties include financial modeling, conducting market research, and facilitating asset management and reporting. Prior to Pennybacker, Brendan was an Analyst at JP Morgan Asset Management, where he provided underwriting, valuation, development, leasing, and disposition support for JPM’s range of institutional clients. Brendan has performed underwriting valuation analyses of all major commercial property types, including multifamily, retail, industrial, and office.

Brendan received and Bachelor of Business Administration in Finance from the McCombs School of Business at The University of Texas at Austin. Brendan is a member of CREFC Young Professionals.
Jackie Mulvihill
Associate
Jackie Mulvihill
Associate
Joined 2021
About
Jackie Mulvihill is a member of the investment and corporate development teams. Her responsibilities include researching and underwriting potential investment opportunities and investment management. In addition, Jackie works closely with Pennybacker's leadership on the firm's strategic direction.

Prior to joining Pennybacker, Jackie was an associate at Stone Point Capital, where she focused on private equity investments in real estate finance and services and asset management companies. Her responsibilities included sourcing and underwriting potential investments and portfolio optimization. She started her career as an investment banking analyst at Bank of America in New York City.

Jackie graduated from the University of Texas at Austin with a BA in Economics.
Chase Nixon
Associate
Chase Nixon
Associate
Joined 2020
About
Chase Nixon is an associate on the investment and portfolio optimization teams. His responsibilities include researching and underwriting potential investment opportunities, and investment management.

Prior to Pennybacker, Chase received his MBA from the McCombs School of Business at the University of Texas at Austin. While at McCombs, Chase served as the Portfolio Manager on the growth fund ($30M AUM) for the student led MBA Investment Fund, LLC and completed his graduate internship with Pennybacker. Chase’s career began at TRT Holdings, Inc. in Dallas, where he evaluated acquisition, development, and value add investment opportunities for Gold’s Gym and Omni Hotels & Resorts.

Chase earned his undergraduate degree in Government from the University of Texas at Austin. He is an active member of the Urban Land Institute.
Isabel Pryzant
Associate
Isabel Pryzant
Associate
Joined 2021
About
Isabel Pryzant is an associate on the investment and portfolio optimization teams. Her responsibilities include investment management as well as researching and underwriting potential investment opportunities.

Prior to Pennybacker, Isabel received her MBA from the McCombs School of Business at the University of Texas at Austin. While at McCombs, Isabel served on the executive committee for Venture Fellows and as a Portfolio Manager for the Real Estate Investment Fund and completed her graduate internship with Pennybacker. Isabel’s career began at Oliver Wyman where she delivered operational improvement projects and strategic advice for Fortune 100 companies.

Isabel earned her undergraduate degree in Plan II Honors at the University of Texas at Austin. She is an active member of the Urban Land Institute.
Rachel Vogel
Associate
Rachel Vogel
Associate
Joined 2021
About
Rachel Vogel is an associate on the investment and portfolio optimization teams. Her responsibilities include investment management, as well as researching and underwriting potential investment opportunities.

Prior to Pennybacker, Rachel held a commercial investment sales role at JLL. Rachel was responsible for spearheading the marketing efforts for industrial, office and retail deals awarded to the team. Throughout her six years with the firm Rachel worked closely with JLL debt and equity producers as well as agency leasing and tenant rep brokers. She was involved in the underwriting for over $4.0B of deals as well as marketed and assisted with the sale of $1.5B of the team’s institutional and private capital clients.

Rachel holds a Bachelor of Science degree in Marketing and Advertising from Iowa State University and is a licensed real estate broker in the state of Colorado.
Eliza Ross
Analyst
Eliza Ross
Analyst
Joined 2020
About
Eliza Ross is an analyst on Pennybacker’s portfolio optimization team. Her responsibilities include investment management as well as assistance with property due diligence, design, branding, construction, operations and market research.

Eliza graduated from the University of Denver – Daniels College of Business where she earned a BSBA in International Business and Finance. During her time at the University of Denver, Eliza completed internships at Marcus & Millichap and Pennybacker.
Alexis Wolfe
Analyst
Alexis Wolfe
Analyst
Joined 2021
About
Alexis Wolfe is an analyst on the investment and portfolio optimization teams. Her responsibilities include investment management, as well as researching and underwriting potential investment opportunities.

Prior to Pennybacker, Alexis was a financial analyst on the Debt and Structured Finance team at CBRE focused on institutional debt advisory. While at CBRE, Alexis arranged more than $2.9 billion of real estate debt transactions for a number of institutional clients across all property types. Prior to joining CBRE, Alexis was a financial analyst in JLL’s Capital Markets Group focused on office investment sales. During her 2.5 years at JLL, Alexis valued more than $4.1 billion of office investment opportunities.

Alexis holds a Bachelor of Business Administration in Finance from Southern Methodist University’s Cox School of Business.

Data Analytics

Arti Kumar
Associate
Arti Kumar
Associate
Joined 2021
About
Arti is a Technology Product Manager on the Data & Analytics team. Her responsibilities include establishing strategic plans for new technologies across the organization and managing the implementation of these tools.

Prior to joining Pennybacker, Arti worked as a software engineer at Auth0 (now Okta) on the Identity & Access Management team. There, she worked with a team of other engineers to develop new product features and handle user data. Arti started her career at Atlassian, where she worked as an engineer on the Product Integrations team, creating applications to connect Atlassian products to third-party software products.

Arti received her undergraduate degree from The University of Texas at Austin, where she studied Management Information Systems and Computer Science.
Kelly Sooch
Associate
Kelly Sooch
Associate
Joined 2020
About
Kelly is an associate on the Data & Analytics team. Her responsibilities include acquiring and processing data, as well as applying data science techniques to drive decision making.

Prior to joining Pennybacker, Kelly received her Masters in Data Science degree from New York University, where she gained skills in machine learning and predictive analytics. Her capstone project involved partnering with Tishman Speyer to predict lease renewal with machine learning models. Prior to NYU, Kelly was a data scientist at the tech startup, Finery, working on business analytics with a focus on user retention.

Kelly received her undergraduate degree in Biomedical Engineering from Duke University.
Blake Arledge
Senior Analyst
Blake Arledge
Senior Analyst
Joined 2021
About
Blake is a Senior Analyst on the Data Analytics team. His responsibilities include processing and validating data associated with both the current assets under management and potential future investments.  

Prior to joining Pennybacker, Blake worked as a Quantitative Researcher at a Fintech startup, Capital Technologies (now Hum Capital), in New York City where he helped build the lending platform and process that is used today. Blake started his career at Deloitte Consulting, where he worked as a Business Technology Analyst in the Systems Implementations group, helping clients in all phases of the CRM transformation cycle and associated processes.  

Blake received his undergraduate degree from Vanderbilt University where he studied Computer Science and Engineering Management.

Capital Formation

Jessica Light
Vice President
Jessica Light
Vice President
Joined 2019
About
Jessica Light is responsible for the development and management of the firm’s marketing materials and investor reporting. Her duties include preparation of firm marketing materials, compiling accounting information and conducting analyses for quarterly institutional reporting, and management of prospective investors’ due diligence requests.

Prior to joining Pennybacker, Jessica was an investor relations analyst at Carlson Capital, where she supported the capital raising initiatives of the firm, prepared monthly and quarterly marketing materials, hosted current and prospective investors for onsite operational due diligence meetings, and managed ad hoc investor due diligence requests. She began her career in the Assurance practice at Deloitte & Touche. Jessica’s clients were Fortune 500 companies in the consumer products and financial services industries.

Jessica holds a Bachelor of Business Administration in Accounting and a Master of Professional Accounting from The University of Texas at Austin. She is a CPA licensed to practice in Texas.
Taylor Thomas
Senior Analyst
Taylor Thomas
Senior Analyst
Joined 2021
About
Taylor Thomas is a member of the capital formation team. Her responsibilities include developing and maintaining marketing materials. Within her role, she collaborates with various teams to conduct analyses and facilitate the delivery of information to investors at regular cadences and ad hoc.

Prior to joining Pennybacker, Taylor was a Commercial Banker in the Technology & Disruptive Commerce group at J.P. Morgan. She supported technology companies and equity-backed startups by helping fulfill their treasury management and working capital needs. Taylor began her career in J.P. Morgan’s Private Bank, where she provided individuals, families, and foundations in Central Texas with investing, banking, and wealth planning advice and services.

Taylor received a Bachelor of Business Administration in Finance from the McCombs School of Business at the University of Texas at Austin.

Finance, Accounting, & Investor Reporting

Christina Samellas
Vice President
Fund Accounting
Christina Samellas
Vice President
Fund Accounting
Joined 2018
About
Christina Samellas is responsible for the management and execution of fund accounting. Her duties include reviewing and coordinating the preparation of the financial statements with the third-party administrator, managing the flow of funds into and out of investments, preparing and reviewing investor reporting requests, and assisting with the preparation of fund tax returns.

Prior to Pennybacker, Christina was an Associate at Varagon Capital Partners, where she executed all investment transactions, oversaw third-party administrators, and prepared investor reporting and presentations. As Varagon is an asset manager that lends directly to middle market companies, Christina has extensive experience in maintaining accounting records for credit funds. Prior to Varagon, Christina worked as an Account Manager at Cortland Capital Market Services, a third-party fund administrator that currently serves as one of Pennybacker’s fund administrators, and pioneered the credit fund division. Prior to Cortland, Christina was employed by Ernst & Young as an Assurance Senior in their Banking & Capital Markets division, working on the firm’s largest publicly-traded audit client in the banking sector.

Christina received a Master of Science in Accounting and a Bachelor of Science in Accounting from Bentley University, graduating Magna Cum Laude from her undergraduate program.
Heather Armstrong
Accounting Assistant
Heather Armstrong
Accounting Assistant
Joined 2019
About
Heather Armstrong is the Accounting Assistant to the Chief Accounting Officer. In this role, Heather assists with accounts payable and receivable and handles administrative duties.

Prior to Pennybacker, Heather began her career as a Merchandising Assistant at Gap, Inc. in San Francisco. Subsequently, she moved to Austin and joined Michael Deane Homes, a local high-end home builder, as the Office Manager. In this position, Heather handled the accounting for the office and the home building projects. From Michael Deane Homes, Heather joined the accounting team at Pluckers Wing Bar, a restaurant group with multiple locations in Texas and Louisiana.

Heather graduated from The University of Texas at Austin with a Bachelor of Business Administration.
Mary Birk
Senior Associate,
Fund Accounting
Mary Birk
Senior Associate,
Fund Accounting
Joined 2021
About
Mary Birk is responsible for the management and execution of Pennybacker’s fund accounting, with a focus on the Income & Growth platform. She joined Pennybacker from WM Capital Partners, an Austin-based private equity firm, that invests in mixed and nonperforming loans secured by commercial real estate.  At WM, she was responsible for financial statement preparation, treasury and cash management, and tax reporting.

Prior to WM, Mary was Vice President of Alternative Investments at The TCW Group, where she oversaw financial reporting for 17 alternative investment partnerships and separate accounts managing a total of $2.8 billion in senior-secured direct lending and mezzanine credit funds.  Before TCW, Mary was Controller at Resolve Inc, a boutique fund administrator based in Los Angeles that served hedge fund and private equity clients and prior to that, was Controller at JMB Capital Partners where she assisted in the launching of an offshore fund and a master-feeder fund.  Mary joined JMB after working as a supervising senior auditor at Rothstein Kass and prior to that, as a Controller for Q Investments, a Ft. Worth hedge fund specializing in distressed debt.

Mary received a Bachelor of Business Administration in Accounting degree from the University of Texas at Arlington and is a licensed Certified Public Accountant.

Administration

Joanna Barrett
Executive Assistant to the CEO
Joanna Barrett
Executive Assistant to the CEO
Joined 2017
About
Joanna Barrett is the Executive Assistant to the CEO.  In this role, she coordinates all of the administrative activities for the CEO, including schedule management, travel arrangements, correspondence, executive office support and strategy, and executive leadership team support, as needed. Joanna brings with her more than 15 years of administrative experience, including more than 10 years of experience in endowment investment management.  

Prior to joining Pennybacker, Joanna spent 10 years with the University of Texas/Texas A&M Investment Management Company, working initially with the Public Markets and Fixed Income teams, before becoming the Executive Assistant to the CEO & CIO.

Joanna holds a Bachelor’s degree from the University of San Francisco.
Erin Hollars
Executive Assistant to the CFO, Office Manager
Erin Hollars
Executive Assistant to the CFO, Office Manager
Joined 2018
About
Erin Hollars is an Executive Assistant to the CFO and the Office Manager. In these roles, Erin coordinates administrative tasks for the CFO and staff, to include schedule and office management, travel arrangements, and leadership team support, as needed. Along with managing reception, Erin oversees facility operations, event planning and the opening and maintenance of our new office sites.  

Upon joining Pennybacker in 2018, Erin brought with her 10 years of experience in assisting executives as well as 18 years of management and leadership experience. Prior to Pennybacker, Erin worked as the Office Manager & Executive Assistant to the CEO of Mountain Medical Group, in Boulder, Colorado, and before that as an Executive Assistant to a Regional VP at Waddell & Reed, in Kansas City, Missouri.

Erin attended Kansas State University and holds an Associates of Applied Science in Apparel Textile & Marketing.

Our trajectory through the years.

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