February 25, 2020
Community Housing Partners (CHP), which provides affordable and sustainable housing throughout the Southeast and Mid-Atlantic, has named Shaun Rai as its Vice President of Asset Management. Rai previously served as Senior Asset Manager at CHP.
In his new position, Rai is responsible for the long-term physical and financial sustainability of CHP’s multifamily portfolio, which includes more than 100 properties and almost 7,000 units. CHP Asset Management—which includes the Compliance and Procurement departments—manages all existing property debt at CHP and searches for opportunities to rehabilitate and upgrade properties owned and operated by the organization. It also preserves the tax benefits of CHP’s affordable rental communities when they enter a 15-year compliance period with investor partners and are responsible for converting to a new ownership model at the end of that period.
“Shaun brings a unique perspective to his new role here and has a very measured, level-headed approach for the long-term viability of our properties,” said Jeff Reed, President of CHP. “He has grown tremendously in his knowledge of asset management and has a very clear vision for the departments he oversees. Most importantly, Shaun is a true team builder.”
Rai joined CHP’s Asset Management team in 2017 after years in the banking industry. He worked for eight years as a real estate lender with Virginia Community Capital, a Christiansburg-based nonprofit community development financial institution (CDFI) which supports housing and community development ventures. Prior to that, he worked in retail banking at BB&T for seven years.
“I am very excited to be able to lead a great group of people,” Rai said. “I’m looking forward to finding ways that Asset Management can support CHP’s larger goals of connecting health and home and make connections to the people we serve.”