Croatan Hires Former Armada Hoffler Exec as Managing Principal and CIO
Croatan Investments, a private investment firm that specializes in multifamily real estate, has hired Eric Smith as managing principal and chief investment officer.
Croatan Investments, a private investment firm that specializes in multifamily real estate, has hired Eric Smith as managing principal and chief investment officer.
Smith most recently served as chief operating officer and chief investment officer for Armada Hoffler Properties (NYSE: AHH), a publicly-traded real estate investment trust, and has experience in a variety of asset types, including multifamily, retail, office, mixed-use, and hospitality, the company said.
The company noted that in addition to the acquisition of stabilized assets, Smith had oversight of more than $1 billion of development projects during his tenure at Armada Hoffler Properties, with many of the projects containing a public-private partnership component.
He was also part of the three-member executive team that shepherded Armada Hoffler Properties through its 2013 IPO on the New York Stock Exchange which raised more than $230 million.
“Eric is a seasoned real estate professional and leader and a strong addition to the Croatan leadership team,” said Paul Van, managing partner at Croatan Investments. “Eric’s two decades of experience in commercial real estate combined with his experience transforming a high-growth private real estate platform into an institutional-grade publicly-traded REIT is timely.”
Smith spent the early years of his career in the management consulting, international corporate finance, and investment advisory fields, as well as owning his own trading seat on the New York Futures Exchange. He holds a Masters of Business Administration from The Wharton School at the University of Pennsylvania and a bachelor’s degree in finance from the University of Connecticut.
Croatan Investments is a multifamily investment manager for private wealth, institutional, and retail capital. Headquartered in Virginia Beach, Virginia, Croatan has team members operating in Atlanta, Austin, Dallas, New York City, Washington DC, and Singapore. The portfolio currently consists of multifamily assets across the Mid-Atlantic and Sun Belt.
