Avanti hires managing director – overseeing strategic growth & institutional capital relationships

Avanti Residential has appointed Richard Bennion as managing director, where he will be responsible for strategic growth and institutional capital relationships.

With nearly 20 years of experience in the multifamily real estate industry, Bennion has expertise in capital raising, asset management and development.

Bennion most recently worked at PEF Advisors, an affordable housing investor, where he led the capital formation of a $100 million fund focused on affordable housing nationwide and served as a member of the senior leadership team and investment committee.

Prior to that, he successfully raised $3 billion in equity from institutional capital partners for Carmel Partners, a multifamily operator investing in acquisition and renovation deals and development projects in select U.S. markets. Bennion also oversaw the repositioning and disposition of a $1 billion portfolio of multifamily investments located in Arizona, Colorado and Texas while at Carmel.