Red Stone Equity Partners, a real estate finance and investment company specializing in affordable multifamily fund management, has announced executive leadership transitions. Founder and CEO Eric McClelland will become Executive Chairman on July 1st 2023 while Ryan Sfreddo is promoted from President to CEO and Michael Wiggers from CFO to President & CFO.
Sfreddo brings 25 years of experience in the real estate industry as well as expertise in affordable housing markets. He will be responsible for overseeing operations and client relations at Red Stone Equity Partners. Wiggers offers 26 years of accounting knowledge combined with his extensive background in the real estate sector; he will manage financials along with operational matters at the firm.
In its first half of 2023, Red Stone Equity raised $445 million through Low-Income Housing Tax Credit equity investments which were used towards 27 different affordable housing communities across America .
