Roger Snell has been named CEO of Conifer Realty, a leading affordable housing developer headquartered in Rochester, New York.
Snell joins the firm after serving as chief investment officer at Veritas Investments, a privately held real estate investment firm, where he directed acquisitions, capital markets, and strategy. Earlier, he was the CEO of two public real estate investment trusts (REITs), WinShip Properties and Pacific Gateway Properties.
His investment, development, and portfolio management experience includes over $14 billion of properties and transactions.
In addition, Snell serves on the board of Veritas Investments and CIM Income NAV, a public REIT investing nationally in triple net office, industrial, and retail properties.
Company officials said the appointment is in line with Conifer’s drive to significantly expand and accelerate its affordable housing work.
“We are excited for Roger to build on Conifer’s success and believe he is exceptionally well-positioned to push the company’s ambitious growth plans forward,” said Paul Odland, founder and managing partner of Belveron Partners, a San Francisco-based investment group that acquired a majority stake in Conifer last year. “Roger’s extensive experience leading real estate companies, raising capital, and structuring strategic joint-venture partnerships are competencies that will benefit Conifer tremendously and aid the company in pursuing new opportunities.”
Snell takes over the CEO post from Joan Hoover, who stepped down earlier this year.
Thomas Johnson, executive vice president of finance, and Barbara Ross, executive vice president of human resources, had been serving as interim co-CEOs.
“Conifer is a front-runner in delivering high-quality affordable housing and benefits from a stellar industry reputation,” Snell said. “I look forward to developing the company further and accelerating its growth across multiple markets and into new affordable and workforce housing ventures.”
One of the firm’s latest projects is the 165-unit Cold Spring Lane development in Baltimore. The $44.5 million development, which will include 12 units for veterans, combines 4% and 9% low-income housing tax credits.
Belveron-Conifer Realty ranked No. 5 on the AHF 50 list of affordable housing owners this year, with more than 25,600 units.
