CA Student Living (“CASL”), a leading vertically integrated student housing developer and investment management company, today announced the appointment of Ernie Freedman, executive vice president and chief financial officer of Invitation Homes (NYSE: INVH), to its board of directors.
“We are pleased to welcome Ernie to CASL’s strong bench of board members, bringing nearly three decades of robust experience and industry relationships to the organization,” said Michael Hales, president of CASL. “Ernie is a key member of the leadership team at the forefront of Invitation Homes, the nation’s premier single-family home leasing company, and therefore offers unique perspective that will further bolster CASL’s service quality, product and approach. We look forward to drawing on his experience as we continue to strategically expand CASL’s portfolio of quality student living assets across the country.”
CASL currently has $1.5 billion of active construction projects expected to deliver by the fall of 2023, and more than $1.5 billion of active new development pipeline. In addition, CASL plans to acquire 6 – 8 assets per year to scale its overall portfolio, while continuing to grow its portfolio of third party managed assets, with the overall goal of growing its business three-fold over the next five years.
“CASL’s preeminent industry position in the student housing sector and track record of innovation have positioned the company well to capitalize on the strong market tailwinds we are seeing in the space and execute on its growth goals,” said Ernie Freedman, CASL board member. “I am delighted to have been invited to join the CASL board of directors and look forward to working alongside a dynamic group of leaders as we continue to position the platform to scale.” Freedman currently serves as executive vice president and chief financial officer of Invitation Homes, where he has held the role since October 2015.
Freedman has previously served as executive vice president and chief financial officer of Apartment Investment and Management Company (“Aimco”), chief financial officer of HEI Hotels and Resorts, operations controller and finance manager for investments and acquisitions with GE Real Estate, and senior manager in the real state practice of Ernst & Young, LLP. Freedman is a certified public accountant, who earned his bachelor’s degree in commerce – accounting from the University of Virginia.