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IRVINE, CA-Avanath Capital Partners has named industry veteran Ed Hurley, a former managing director for Wachovia Securities, as chief operating officer of the Irvine-based company. Avanath is a real estate investment firm that was formed in November 2007 by Daryl Carter, co-founder and former principal of Capri Capital Limited Partnership.

Carter, who holds the post of CEO at Avanath, comments that he has known Hurley “as a respected competitor for nearly a decade” and will rely on Hurley’s “extensive industry knowledge and experience in the multifamily market” in his new post as Avanath chief operating officer.

As COO, Hurley will oversee the day-to-day operations of the firm, including asset management, finance and accounting, risk management, information technology and corporate administration. The company says in a statement that Hurley will serve as a key force of consistency to ensure that Avanath moves forward in a unified direction as it continues to grow.

As a managing director for Wachovia Securities, Hurley led a West Coast expansion for Wachovia’s multifamily lending business. He joined Wachovia in 2003 when it acquired Lend Lease Mortgage Capital, the company he formerly led. During his tenure with Wachovia, Hurley was instrumental in building that company’s multifamily business into the top-ranked Fannie Mae multifamily lender in the country.

Hurley also served as president of Amresco Mortgage Capital Inc., a spinoff of NationsBank, where he built and managed a national commercial lending platform, leading the company to be among the top Fannie Mae DUS and Freddie Mac Program Plus lenders in the country. Avanath focuses on affordable housing, urban real estate investment, mortgage services and specialty finance.

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