Anand Kannan has been named president of WNC, a longtime low-income housing tax credit (LIHTC) syndicator and investment firm.
He takes over the pivotal post from Will Cooper Jr., who will continue to serve as board chairman and CEO of WNC, Preservation Equity Fund Advisors, and the Cooper Housing Institute.
In his new role, Kannan will be primarily responsible for overseeing LIHTC syndications, with housing tax credit originations, investor relations, and underwriting divisions reporting to him.
He moves to the post after serving as president of Community Preservation Partners (CPP), a WNC subsidiary and one of the nation’s most active affordable housing preservation firms. Kannan led the team that has been responsible for the preservation and rehabilitation of over 13,000 affordable housing units and over $3 billion in total development costs.
Melanie Wenk has been elevated to chief operating officer at WNC after serving as executive vice president of business operations. Wenk, who has been with WNC for 20 years, will oversee the firm’s accounting, asset management, fund management, and portfolio dispositions groups.
Seth Gellis has become president of CPP after serving as senior vice president of the firm’s activities on the East Coast, focusing on the preservation of aging affordable housing properties. In his new role, he will oversee the day-to-day operations of CPP, including asset management, acquisitions, and project management.
“As a family-owned business, it has long been our vision to engage industry experts to lead the companies’ operations and strategies while continuing to maintain family ownership,” Cooper said. “These promotions are actionable steps in achieving that goal and positioning WNC and CPP for continued and sustainable growth.”
Other key promotions at WNC and CPP include:
· Edward Campbell has been promoted to general counsel of WNC from his previous position as senior vice president of legal affairs. Campbell has more than 16 years of experience in the affordable housing industry representing lenders, investors, developers, and government agencies. Prior to joining WNC in 2021, he was an affordable housing and real estate partner at an AM Law 100 firm, and he previously served as in-house counsel for the Department of Housing and Urban Development;
· Christina Pham has been promoted to senior vice president of dispositions and fund management after serving as vice president of portfolio dispositions. She has been with WNC since 2004 and earlier served as WNC’s investor services manager providing financial analysis for WNC’s portfolio management group;
· Lindsey Duong has been promoted to director of dispositions from her previous post as senior project manager of dispositions. She has been with WNC for 12 years and has played a key role in the disposition of LIHTC assets in the company’s portfolio that have reached or exceeded the 15-year compliance period; and
· John Fraser has been promoted to vice president of CPP East from his previous position as director. Fraser has almost 25 years in the industry and joined CPP in 2018 as a senior development manager. He works out of the CPP office in Reston, Virginia.