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President and Chief Investment Officer, Preservation Equity Fund Advisors Ms. Caruana oversees all activities of the Preservation Equity Funds. She has more than 19 years of direct experience in the multifamily investment sector, including nearly eight years specializing in investments of affordable rental housing to create attractive economic returns for investors.

Prior to joining WNC in 2018, she worked for four years with a private real estate equity firm where she specialized in the acquisition of affordable rental apartments generating economic returns, last serving as senior vice president of acquisitions. Prior to that, Ms. Caruana spent nine years with a publicly-traded multifamily REIT where she served in various research and investment roles, including senior director of market research, senior investment analyst and investment manager. Ms. Caruana is a member of the ULI (Urban Land Institute) Women’s Leadership Initiative and the NMHC (National Multifamily Housing Council) Emerging Leaders Committee. Ms. Caruana holds an MBA from the University of Miami, Florida and a bachelor’s degree in statistics and marketing from Miami University, Ohio.