Anand Kannan has been instrumental in the growth of Community Preservation Partners (CPP), which specializes in recapitalizing and rehabbing aging affordable housing. The Irvine, Calif.–based firm’s portfolio has grown from about 1,000 units to more than 4,600 units, with total development costs reaching $750 million, since Kannan became president five years ago. The company has about another 1,000 units in its pipeline for the upcoming year.
CPP is the development arm of WNC, a longtime low-income housing tax credit syndicator and investor in real estate and community development initiatives.
“Anand’s success is due to his ability to tackle the complex and make it seem easy,” says Will Cooper Jr., president and CEO of WNC. “Through his leadership, CPP has been able to take complicated financial transactions and transform them into long-term community solutions.
The world of preservation, particularly HUD preservation, was an area we didn’t excel at initially, but Anand’s leadership has now made it an area where we’re industry pioneers in creativity and expertise.”
Kannan, 36, started as an accountant at Novogradac & Co. and then worked at developer Vitus Group before CPP.
“Each transaction is a unique challenge, but the most satisfying part is they each have a direct and profound effect on people’s lives,” Kannan says.
Kannan sits on the board of the Council for Affordable Rural Housing and is a member of the National Leased Housing Association. He and his wife, Prapti, have two young sons.