Passco Unveils Leadership Changes
- Feb 16, 2018
Passco Cos., has promoted both Adriana Olsen and Andy Wang to senior vice presidents of the company’s sales division. The moves come at a time when the firm is looking to grow its portfolio into new product types including senior housing, industrial, and self-storage.
“We’ve had a rich history in both the multifamily and retail sectors,” Belden Brown, Passco Cos.’ executive vice president and national sales manager, said in a prepared release. “We’ve acquired more than 18,500 multifamily units and over six million square feet of commercial assets over the last several years, and in 2017, completed one of our most active years to date.”
As part of that increased growth, the company is diversifying its portfolio and expanding into new product types and the two promotions fit into that strategy. “Adriana and Andy have continued to demonstrate their tremendous real estate expertise and continue to excel to new heights in all that they do,” Brown said. “They will be instrumental as we continue to expand our presence in 2018 and will drive our sales team forward.”
Getting to Know Them
A 15-year vet at the company, Olsen will now be responsible for raising funds for DST 1031 properties and other investment vehicles. Her new role also requires her to oversee registered representatives throughout the nation. Previously, she served as a licensed Realtor with Prudential Real Estate and her qualifications include FINRA series 7, 22, and 63 licenses. She holds a Bachelor of Arts degree from the University of Delaware.
In his new role, Wang is now charged with sharing accurate and detailed information regarding the company’s DST 1031 products, and building and maintaining strong relationships with broker dealers, clients, real estate agents and other investors. He’s also responsible for being a principal for Passco’s managing broker dealer. Wang is a graduate of Baylor University and holds FINRA series 7, 24, 31, and 66 licenses.
Both Olsen and Wang are active members of Alternative & Direct Investment Securities Association.
Passco currently has $2.5 billion in assets under management and is involved with more than 50 properties in 17 states. As part of its continued growth, last May, Passco Cos. acquired Temescal Village, a 102,976-square-foot neighborhood shopping center in Corona, Calif., for $17 million. In July, the firm promoted Stacy Stemen to vice president of corporate marketing.
Photos courtesy of Passco