Capstone Development Partners Announces Promotions Within Leadership of Its Property Management Subsidiary
Promotions to President and Vice President of Operations Made for Capstone Management Partners
Birmingham, AL – Capstone Development Partners (“Capstone”), a leader in the on-campus student housing development industry, today announced two promotions within the leadership of its property management subsidiary, Capstone Management Partners (“CMP”), which provides facility maintenance, asset management and related services for on-campus and university affiliated student housing. Matthew Brown, Ph.D. has been promoted from Senior Vice President of Operations to President, and Jana Faro has been promoted from Portfolio Manager to Vice President of Operations of CMP.
Matthew Brown brings more than 25 years of university experience with on-campus student housing, serving as an Assistant Vice President of Student Affairs at Arizona State University, and as Senior Director of Housing at Oklahoma State University. As President of CMP, Matthew will continue to lead the growth of the company’s portfolio of student housing communities under management, while supporting the strategic goals of Capstone and the universities with which Capstone and CMP partner in the P3 market sector.
Jana Faro brings more than 15 years of university and private sector experience in housing operations. Since joining CMP in 2017, Jana has spearheaded management transitions on multiple projects CMP has been engaged to manage, ensuring a smooth transition of each. She has also monitored the operations of each property with a focus on motivating each operational cell team to perform at a high level of excellence, while achieving operational efficiencies that allow each property to be as affordable as possible to student residents. Prior to joining CMP, Jana served as the Director of Operations for student housing at Arizona State University, and Associate Director of Operations at Portland State University.
Matthew’s and Jana’s appointments reflect the exciting growth of CMP, which is poised for major expansion with multiple new properties coming into its portfolio in 2019. Capstone and CMP are enjoying continued growth nationally across their student housing platform, with a 2 to 3-year development and management pipeline of approximately 5,500 beds valued at more than $1 billion. The Company will be opening a western region office in Denver, CO in 2019 that will consolidate much of Capstone’s western region development staff, and be home to the CMP headquarters.
“We are excited to have Matt’s and Jana’s university experience and professional expertise within our company to advance Capstone’s position as a national leader in the development, maintenance and operation of on-campus and university-affiliated student housing. There is incredible opportunity for CMP to expand its portfolio, and we could not be happier to announce these promotions to help Capstone and our university partners achieve continued success,” said Bruce McKee, Principal at Capstone.