Recap Real Estate Advisors Promotes Todd Trehubenko to CEO; David Smith Becomes Chairman

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Recap, one of the nation's leading experts in the finance, restructuring, and asset management of multifamily residential properties, announces that effective July 31, 2010, President Todd Trehubenko will become CEO, and founder and current CEO David Smith will move to the role of Chairman.

"I look forward to the challenge of leading the company into the future," said Trehubenko. Through David Smith's vision and direction, Recap has become a leader in the multifamily industry."

Recap Real Estate Advisors (Recap), one of the nation's leading experts in the finance, restructuring, and asset management of multifamily residential properties, today announced that, effective July 31, 2010, President Todd Trehubenko will become CEO, and founder and current CEO David Smith will move to the role of Chairman. Recap is the financial services and asset management group of CAS Partners, the parent company of Riverstone Residential Group, the largest, purely third-party multifamily management company in the United States.

“Todd and I have worked together for nearly two decades," said Smith. "He's handled our biggest and most complex challenges, like the Starrett City preservation transaction and leading our growing asset management practice. He thoroughly knows our company and our industry, is a proven entrepreneur and leader, and can take us to the next level."

As CEO of Recap, Trehubenko will be responsible for setting the strategic direction for the expanding firm. He has been a central part of the Recap management team since joining the company in 1992 and he has held the role of President since 2007. Prior to joining Recap, he worked in multifamily development at the U.S. Department of Housing and Urban Development (HUD), specializing in FHA financing and direct loans for multifamily housing.

“I look forward to the challenge of leading the company into the future,” said Trehubenko. “Through David’s vision and direction, Recap has become a leader in the multifamily industry. We will continue our close working relationship as we target new business opportunities.”

Smith founded Recap in 1989 and has guided the company through more than $2.7 billion in transactions and its acquisition of more than $4 billion in assets under management. As Chairman, Smith will continue to support the company’s business development efforts, with an emphasis on national financial and policy initiatives. He will also continue to speak and author papers on the multifamily finance industry and promote Recap’s position as an industry thought leader.

“Todd has an outstanding track record of success at Recap Real Estate Advisors,” said Walt Smith, CEO of CAS Partners and Riverstone Residential Group. “He is a hands-on leader who has the right skills to continue the company’s growth by effectively managing the organization’s talented and dedicated team as well as launching new and innovative products and services.”

About Recap Real Estate Advisors

Recap Real Estate Advisors, a trade name of Recap Advisors LLC, is a Boston-based financial services company that provides solutions to complex multifamily asset problems. It is the financial services and asset management group of CAS Partners. Over the company's history, Recap has completed transactions on more than 800 properties nationwide, with aggregate property value of more than $2.7 billion. It currently manages $4 billion in multifamily assets. On-Site Insight, a Recap Real Estate Advisors Company, has performed more than 6,000 capital needs assessments. Visit http://www.recapadvisors.com for more information.

About Riverstone Residential Group

Riverstone Residential Group is the largest, purely third-party multifamily management company in the United States. Focused exclusively on the delivery of unparalleled property management services including media and marketing services, capital improvement management services, utility management services, resident screening and collection services, and purchasing services, the company manages a portfolio of assets valued at more than $15 billion for leading institutions, pension funds, developers and other major owners. Located in metropolitan markets across the nation, the more than 600 managed properties include high-rise, mid-rise, and garden-style communities in both conventional and affordable assets. CAS Partners is the trade name of Consolidated American Services, Inc. The company is headquartered in Dallas, TX. For additional information, visit http://www.RiverstoneRes.com or e-mail
ClientServices(at)RiverstoneRes(dot)com.

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