Croatan Adds SVP to Lead Affordable Housing Platform

Croatan Investments, a sponsor of Delaware statutory trust offerings and other private placements, has added George Tullos Jr. as a senior vice president on its transactions team.

According to Croatan, in addition to identifying, underwriting, and structuring investments across the company’s portfolio, Tullos will be leading the company’s affordable housing platform including both acquisition and development investments.

“With over a decade of experience in affordable housing, George Tullos is the ideal candidate to lead this initiative within Croatan,” says Paul Van, chief executive officer. “Affordable housing is yet another capability within our durable and agile platform with a strong alignment with our mission to support our communities while generating attractive returns for our investors.”

Prior to joining Croatan, Tullos was the senior vice president of development at Pivotal Housing Partners, where he oversaw apartment development efforts utilizing low-income housing tax credits for new construction, acquisition, rehabilitation and housing preservation. His focus was on identifying, qualifying, securing and entitling land for the development of both tax credit and market rate housing. While structuring investments with landowners and municipal representatives, Tullos cultivated and maintained strategic housing partnerships with non-profit organizations, state housing finance agencies and other industry professionals.

Previously, Tullos was the chief operating officer at the Paces Foundation, where he focused on LIHTC/affordable apartment development, acquisition, leasing and asset management. During earlier roles, Croatan says he gained experience procuring and negotiating a full array of project financing and partnership agreements, including equity, construction, and permanent debt from investors, lenders, and other funding sources. Tullos received his bachelor’s degree in political science from The University of Maryland Baltimore County.

Croatan Investments is a private equity real estate manager focused on multifamily investments. Founded in 2004 and headquartered in Virginia Beach, the firm has team members operating in Austin, Dallas, Atlanta, New York City, Washington D.C., and Singapore. Its portfolio currently consists of multifamily assets across the Mid-Atlantic and Sun Belt regions.

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