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Viviana Angulo

Viviana Angulo serves as Office Manager & HR Coordinator for Pensam.

Her responsibilities include day-to-day operations of the Pensam office as well as administrative assistance. She provides technical and logistical support for special projects, meetings, conferences, and events. Additionally, she completes administrative duties for the human resources department including recruitment, maintaining employee records, and provides administrative support to all employees.

Viviana graduated with a Bachelor’s degree in International Relations from Lynn University. Prior to joining Pensam, she worked in the Hospitality industry as an Event Manager. Viviana’s past roles include organizing facilities and managing all event details such as décor, catering, entertainment, transportation, location, guest lists and equipment.

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Victor de Zárraga

Victor de Zárraga serves as Vice President of Portfolio Management for Pensam.  His responsibilities include identifying areas for financial growth within properties, monitoring leasing and operating activity, reviewing property-level financial statements, providing property rehabilitation administrative support, and leading the investor reporting process.  Victor works in constant collaboration with Pensam’s strategic partners to effectively manage the multihousing portfolio.  Victor oversees Pensam’s assets in Florida and the Midwest.  Prior to his placement on the Asset Management team, he worked as an Analyst within Pensam’s Acquisitions group.

Prior to joining Pensam, Victor worked as a Real Estate Analyst intern at Holliday Fenoglio Fowler, LP, focusing on multihousing investments sales with additional experience in retail, industrial, and office products.  Victor graduated from Babson College, where he earned a Bachelor of Science in Business Administration with concentrations in Finance and Global Business Management.

VdeZarraga@pensamcapital.com

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Alexander Keenan

Alexander Keenan serves as an Investments Associate for Pensam. His responsibilities include identifying potential investments, underwriting equity and preferred equity deals, and assisting in the due diligence process.

Prior to Alexander’s career at Pensam, Alexander was engaged in the insurance industry, working at Allianz Life Insurance in their actuarial product development team. Alexander obtained a Bachelor’s of Science in Economics at the University of Pennsylvania, with concentrations in Statistics and Actuarial Science.

akeenan@pensamcapital.com

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Nisha Bhatia

Nisha is a Principal and Senior General Counsel at Pensam. After joining Pensam as a legal intern in 2009, Nisha became General Counsel in 2010, and Senior General Counsel in 2021. As Senior General Counsel, Nisha oversees Pensam’s legal department, and counsels Pensam’s department heads on strategic and tactical planning for all aspects of internal, corporate, investment and transactional matters. Nisha manages regulatory and compliance, conducts transactional legal due diligence, negotiates corporate agreements and legal transactions, structures investments, and supports project management initiatives. During her tenure at Pensam, Nisha has closed $8 billion of real estate transactions, including acquisitions, dispositions, refinances, and structure financing.

Nisha received a B.A. from Rutgers University, and earned a J.D. from the University of Miami School of Law. Nisha is a member of the Florida Bar.

nisha@pensamcapital.com

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Ray Cleeman

Ray Cleeman is Principal and Head of Capital Markets and Lending at Pensam. Ray is responsible for sourcing, structuring, negotiating and executing on whole-loans, mezzanine loans and preferred equity investments. Additionally, Ray is responsible for building relationships with senior lenders who seek Pensam’s higher leverage mezzanine and preferred equity solutions to go behind their loans including structuring and negotiating inter-creditor agreements.

Ray spent the formative years of his career on Wall Street having worked as an investment banker at Credit Suisse, Donaldson, Lufkin & Jenerette, and Raymond James. He has been involved in the issuance of over $6 billion of high yield securities, the issuance of over $3 billion of private and public equities, arranged bridge commitments and senior loan facilities, advised on over $7 billion of global M&A transactions and advised on several merchant banking transactions. Previously, Ray was also SVP Finance & Treasurer of a publicly traded company.

rcleeman@pensamcapital.com

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Michael Stein

Michael Stein is a Founding Partner of Pensam.

With over 30 years of experience in the commercial real estate investment and structured finance sectors, Michael has been involved in over $10 billion of equity and debt real estate transactions.  Prior to founding Pensam in 2009, Michael was a partner in Miami-based Aztec Group, which invested in commercial, multihousing, and hospitality transactions. He began his real estate career in 1990 with CB Richard Ellis in Miami.

Michael is an active member of leading industry groups and councils such as the Urban Land Institute (ULI), National Multifamily Housing Council (NMHC), CRE Finance Council (CREFC), Mortgage Bankers Association (MBA) and American Seniors Housing Association (ASHA). In addition to his business leadership, Michael is active in local and national community organizations and philanthropic causes. He was past chair of the Greater Miami Jewish Federation Commerce and Professions division, a member of the collector’s council at the Miami Art Museum, a Patron of the Contemporary Art Museum in Miami and a Founder of Mount Sinai Medical Center. Michael is on the Board of Directors of The Great Lakes Group, a Cleveland, Ohio based maritime company.

Michael holds a Bachelor of Science degree in business administration from Skidmore College and is an alum of Harvard Business School.

mstein@pensamcapital.com

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Lena Martinez, CPA

Lena Martinez, CPA serves as Financial Controller for Pensam.

In her role as Pensam’s Financial Controller, Lena’s responsibilities include creating and maintaining a standard chart of accounts for Pensam, documenting all transactional data, preparing financial statements, and managing the firm’s accounts receivable and accounts payable.  Prior to joining Pensam, Lena worked as an accountant for a statewide real estate developer and subsequently as a senior accountant at an international wholesale company.

Lena earned Bachelors and Masters of Accounting from Florida International University.

LMartinez@pensamcapital.com

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Katie Vanderveen

Katie Vanderveen serves as Vice President of Asset Management for Pensam. Her responsibilities include identifying areas for financial growth within properties, monitoring leasing and operating activity, reviewing property-level financial statements, providing property rehabilitation administrative support, and aiding in the investor reporting process. Katie works in constant collaboration with Pensam’s property management teams to effectively manage the multihousing portfolio. Katie’s primary focus is on Pensam’s assets in the Midwest and Colorado.

Prior to joining Pensam, Katie worked as VP of Asset Management for Capital Real Estate overseeing a 3500-unit multifamily portfolio in three states. Preceding that she held multiple roles at Laramar, including Regional Property Manager overseeing 2,900 units, Property Accountant, Trainer, and Business Applications Support. Her extensive background in property management includes onsite management, multi-site management, value-add renovations, new construction lease-up, condo conversion, acquisitions & due diligence, client relations, and property accounting.

Katie holds a Bachelor of Business Administration in Finance from Grand Valley State University.

kvanderveen@pensamcapital.com

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Joseph Menendez

Joseph Menendez serves as an Equity Portfolio Finance Manager for Pensam. His responsibilities include preparing financial reports on property and portfolio performance, identifying areas for financial growth within properties, monitoring leasing and operating activity, reviewing property-level financial statements, providing property rehabilitation administrative support, and aiding in the investor reporting and distribution process for Pensam’s equity investments. Joseph also assists with the management and reporting of Pensam’s preferred equity and debt portfolio.

Prior to joining Pensam, Joseph worked at CFH Group, a development and property management company located in Coral Gables, where he assisted in the valuation and due diligence of multifamily properties for potential acquisition. Joseph graduated from Babson College, where he earned a Bachelor of Science in Business Administration with a concentration in Finance.

jmenendez@pensamcapital.com

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Joseph Brennan

Joseph Brennan serves as Director of Capital Markets for Pensam. He has been involved with Pensam since its founding, and is an experienced professional with a broad background in domestic and international sales and marketing of financial services and products involving capital markets, private banking, investment banking and international trade finance.

Prior to his role at Pensam, Joe was President of Brennan Caballero, Inc., a private family company where he was active in analyzing and monitoring investments, in addition to assisting and advising on marketing and sales efforts in the US, Latin America and Europe.  Previously, Mr. Brennan was Senior Vice President of Wealth Management at HSBC Bank in Miami, FL, a group established to pursue large, complex, sophisticated opportunities by coordinating bank resources required to provide value-added products and solutions to clients and their companies.

Joe also worked as Vice President in the Private Wealth Management Group at Morgan Stanley, as Director of the Private Banking Group of UBS AG, as Vice President in Private Banking with Bankers Trust Private Advisory Services and at Citicorp Private Bank Capital Markets Unit where he was the Vice President/Manager of the Derivative Products Marketing Unit and in Citicorp’s Investment Banking Group in New York and Puerto Rico.

Joe received a Bachelor of Arts degree from Dartmouth College and is fluent in English and Spanish.

jbrennan@pensamcapital.com