Chris Murray, managing director for acquisitions at syndicator Red Stone Equity Partners, values being a resource to get affordable housing developments across the finish line.
“I take pride in the ability to be helpful and a resource for these developers that are trying to get developments going and are looking for financing,” he says. “At the same time, I spend a lot of time with folks who are trying to put a deal together and have questions. Even if we’re not working on a specific transaction and they go to someone else for financing, I’m still a resource to help them.”
Murray, who has more than 16 years of experience in real estate investment and low-income housing tax credit syndication, runs Red Stone’s origination and acquisition efforts for the Northeast region, working with developer partners on a variety of transactions. During his 14-year tenure at Red Stone, he has been responsible for the origination and structuring of more than $2 billion in tax credit equity for nearly 160 projects with more than 15,000 units across 18 states. He also has forged strong relationships with leading industry developers and expanded business into the Mid-Atlantic, including Maryland, Virginia, and Washington, D.C.
“What I enjoy the most is working on these projects and transactions,” the 38-year-old says. “It takes a city to get even one project done.”
He adds that while he is working on a transaction, with the multitude of paperwork and conference calls, he always has his eye on the final product.
“Even the tough times during the day to day, I remind myself the end goal is to build this housing to help people,” he says. “It’s rewarding when you finally go and see the finished product and hear from the tenants living there about how happy and relieved they are to have safe, affordable housing. At the end of the day, the result of this work is doing something to help people. You don’t get that at every job and career.”
Outside of the office, Murray enjoys hiking and being outdoors. He has climbed Mt. Rainier and Mt. Kilimanjaro as well as reaching the achievement at age 13 of climbing all 46 high peaks in the Adirondack Mountains.
“It’s all mindset, and this translates to my day-to-day work,” he says. “If I commit to something, then I stick with it.”