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Passco Adds Industry Veteran to Multifamily Investment Team

Passco Companies LLC, a sponsor of 1031 Delaware statutory trusts and other alternative investments, has a hired 35-year industry veteran as its new director of multifamily investments.

Passco Companies LLC, a sponsor of 1031 Delaware statutory trusts and other alternative investments, has hired 35-year industry veteran Kristi Ruggeberg as its new director of multifamily investments.

Ruggeberg will oversee a portion of Passco’s multifamily portfolio, which includes approximately 40 properties and 13,000 units nationwide with a total market value in excess of $2 billion, according to Jeff Olshan, the firm’s senior vice president of multifamily investments.

“As we continue to strategically grow our multifamily portfolio at a rapid pace, we’ve assembled an experienced team of multifamily experts in order to ensure that we meet or exceed expectations with each of our investments,” explains Olshan.

The company noted that Ruggeberg’s experience includes more than 20 years specializing in multifamily analysis and asset management. In her new role, she will be responsible for overseeing a portfolio of 10 properties located across the country.

Prior to joining Passco, Ruggeberg spent 10 years as a director of asset management for UBS Realty Investors, where she supervised a portfolio of multifamily assets throughout the Southwest and Mountain regions. Prior to that, she spent 12 years as a senior asset management analyst with INVESCO Realty Advisors.

Ruggeberg started her career at a private real estate firm as a leasing manager and then a property manager before moving into the asset management space. She is a graduate of the University of Northern Iowa.

Ruggeberg will be based out of Passco’s Dallas office. Her appointment comes on the heels of the additions of Nika Dufour as a vice president of multifamily investments, Jera Harris as director of multifamily investments, and Brooks Foy, investment manager, earlier this year.

Passco is a private real estate company that specializes in the investment, acquisition, development and management of commercial properties throughout the U.S. Headquartered in Irvine, California, the company currently has $2.5 billion assets under management and is involved with more than 50 properties in 17 states.

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