Cortland Hires Vornado Executive to Lead Debt Capital Markets
By Andrew Coen March 28, 2023 7:00 am
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Multifamily investor Cortland has hired Jan LaChapelle from Vornado Realty Trust (VNO) to lead its debt capital markets business, Commercial Observer can first report.
LaChapelle will oversee all asset- and fund-level financing out of the firm’s Atlanta headquarters in her role as executive vice president, head of debt capital markets. She was previously executive vice president, head of capital markets for Vornado in New York. In her new role, LaChapelle will report to Jason Kern, Cortland’s president of investment management.
“Recent and ongoing volatility in the debt capital markets has only further highlighted the strategic importance of being as nimble and as creative as possible in the debt financing and hedging decisions that Cortland makes on behalf of our investors,” Kern said in a statement. “We therefore couldn’t be more excited to be adding Jan’s incredible depth of capital markets knowledge and industry relationships.”
Kern added that LaChapelle will “be a phenomenal cultural fit” within a team that includes George Smith, Cortland’s debt capital markets manager.
At Vornado, LaChapelle oversaw capital markets activities for the real estate investment trust (REIT) including debt issuances along with preferred and common equity issuances. She also spearheaded the REIT’s relationship with lenders and credit rating agencies.
Prior to Vornado, LaChapelle was a senior vice president, capital markets at Wells Fargo. She also worked as a senior financial analyst at CBS MarketWatch.
“I am excited to join this top-tier multifamily platform with tremendous growth potential and a talented team,” LaChapelle said in a statement.
A University of Virginia alumna with a bachelor’s in economics, LaChapelle earned a Master of Business Administration degree from New York University’s Stern School of Business.
Cortland has investments in more than 250 apartment communities nationally. It announced a $1 billion investment in Northern Virginia last year that involved the acquisition of four multifamily properties.
Andrew Coen can be reached at acoen@commercialobserver.com
