WASHINGTON, April 16, 2019 /PRNewswire-PRWeb/ -- The Housing Partnership Equity Trust (HPET) today announced the appointment of Matt Glatting as its new Executive Vice President, Finance and Investor Relations.
"HPET provides social impact investors the opportunity to be part of a solution to the nation's growing affordable housing crisis," said Anne McCulloch, HPET's President and Chief Executive Officer. "With Matt Glatting as EVP, we bring aboard someone with integrity, strategic vision and a wealth of experience in the field of capital raising and socially responsible investing."
HPET is a national, social-purpose real estate investment trust (REIT) founded by nonprofits to raise capital for affordable housing.
"One in four U.S. families spends more than half their income on rent," said McCulloch. "Meanwhile, the U.S. is losing 75,000 to 125,000 affordable rental apartments every year."
"Housing affordability is a major challenge across this country, especially for lower income and working families," the CEO said. "HPET creates ways for investors to attack the problem and make a positive difference with their investment dollars."
"I am excited to be part of HPET as we grow the business to serve the needs of social impact investors and improve the lives of families by acquiring and preserving affordable rental housing," Glatting said.
Prior to joining HPET, Glatting was Treasurer at Capital Impact Partners, Arlington, VA, where he managed the treasury department of an institution with $1 billion in assets under management. Previously, he served as a financial strategy consultant and as a senior officer for Calvert Impact Capital, Bethesda MD.
Housing Partnership Equity Trust (HPET) is a national, social-purpose real estate investment trust created by nonprofits to raise capital for affordable housing. HPET works with its partners to acquire and preserve affordable rental housing in opportunity neighborhoods with the components critical to household success, including good schools, public transportation, anchor institutions and access to jobs. HPET investors include Citi, Morgan Stanley, Prudential, Charles Schwab Bank, the John D. and Catherine T. MacArthur Foundation and the Ford Foundation. HPET's members are AHC Inc., Aeon, BRIDGE Housing Corporation, Chicanos Por La Causa, Inc., Community Preservation and Development Corporation, Eden Housing, Inc., Hispanic Housing Development Corporation, Homes for America, Housing Partnership Network, LINC Housing Corporation, Mercy Housing, Nevada HAND, Inc., NHP Foundation, NHT Communities, and POAH. For More Information: http://www.hpequitytrust.com
SOURCE Housing Partnership Equity Trust (HPET)
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