Ann Caruana

CRE Visionaries 2023

President & Chief Investment Officer
Preservation Equity Fund Advisors
Commercial Real Estate Developer

With 20 years of experience in the commercial real estate sector, Ann Caruana has a diverse background in multifamily investments, including acquisitions, market research and value-add repositioning opportunities. In May 2022, she was promoted to president and chief investment officer of Preservation Equity Fund Advisors (PEF Advisors) after serving as the company’s senior vice president (SVP) of Acquisitions. In her new role, Caruana leads the company’s efforts to preserve affordable multifamily communities across the United States.

Caruana oversees all aspects of PEF Advisors’ acquisitions, investor relations, asset management, operations and market research. She has contributed significantly to the growth and success of the fund series through her involvement and discipline in each investment activity. PEF Advisors is a private equity vehicle through a series of closed-ended funds that Caruana has helped build over the last four years.