WNC Promotes Kannan to CPP President

IRVINE, CA-WNC, a national investor in real estate and community-development initiatives, has promoted Anand Kannan to president of its subsidiary, Community Preservation Partners LLC. Kannan has been with the firm since 2010 as VP.

Kannan has more than 12 years of direct experience in the development and preservation of affordable housing. CPP was founded in 2004 to address the growing need to preserve the aging affordable rental housing stock across the country.

“Anand has been instrumental in leading the growth of Community Preservation Partners during his three years with our company,” says Will Cooper Jr., president and CEO of WNC. “He has proven to be a strong and effective leader who has played an essential role in the expansion of CPP's ownership and development portfolio, which now totals 55 properties in four states representing 2,850 units.”

Anand says the firm “has achieved tremendous success in the effort to preserve at-risk properties throughout a nation that continues to suffer from a significant lack of quality affordable housing. The key to our success has been the development of strong partnerships with established for-profit and non-profit partners, and I look forward to continued success with them and others as we aggressively expand our preservation efforts.”

As GlobeSt.com reported in October 2013, WNC provided $7.5 million in low-income housing tax credit equity to fund Parking Landing Apartment Homes, a 70-unit, four-story, affordable-housing project in Buena Park, CA. The energy-efficient project, built by Jamboree Housing Corp., is believed to be the first in Orange County to incorporate a substantial, 20,000-square-foot sustainable “green roof.”