Versity Invest LLC, a real estate investment firm that specializes in student and multifamily housing, has expanded its sales team. Carolyn Sumner was promoted to vice president of national accounts, Seth Lee was hired as an internal wholesaler, and Gabe Valente was promoted to an internal sales associate.
The company said that the new appointments are “to accommodate the continued expansion of its portfolio into conventional multifamily housing and the addition of a real estate investment trust.”
Discussing the recent sales team expansion, Jason Kjellson, executive vice president and national sales manager, said that the growth of the company “is expected given how aggressive the company has been at acquiring new properties for the portfolio.” The company reportedly purchased six properties for more than $400 million in 2021.
Carolyn Sumner, who joined the company’s predecessor NB Private Capital in 2020 as an internal sales associate, was promoted to vice president of national accounts, reporting to Tyler Carter, senior vice president of national accounts. She will assist in the firm’s “continued expansion” in the independent broker-dealer and registered investment advisor channels.
Sumner previously served as an internal wholesaler at Triton Pacific Securities and Moody National Companies. She holds FINRA Series 7 and 63 securities licenses, as well as a bachelor’s degree from Valdosta State University in Georgia.
Seth Lee was hired as an associate vice president and internal wholesaler covering the central U.S markets. He has more than 16 years of financial services experience, and prior to joining Versity, he spent three years at Resolute Capital Partners, most recently as director of sales for the western region. Earlier in his career, has served as a financial advisor with RBC, a wholesaler with Navallier & Associates, and a senior stockbroker at Scottrade. He is a certified investment management analyst, holds a finance degree from the University of Nevada, as well as FINRA Series 7, 24, 63, and 66 securities licenses.
Gabe Valente, who joined the company’s predecessor in 2020 as an investor relations manager, has been promoted to internal sales associate serving the Western U.S. markets.
“I am immensely proud of Carolyn and Gabe for seeing the opportunity our company affords and reaching for career growth. Seth Lee will join Gabe on our internal sales desk as we continue to grow our regional coverage and has already proven himself to be a true professional,” added Kjellson.
In other company news, Versity recently sold The Commons at Sawmill, a student housing property located near Northern Arizona University, for $61.3 million, generating a reported 86.5 percent total return for investors.
Versity specializes in the acquisition, financing, management, and ownership of real estate investments in student housing, multifamily and niche specialty categories from development to core holdings. The company and its subsidiaries currently manages more than $1.6 billion in real estate and have raised approximately $800 million in investor capital.
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