Team Members

Paul Fruchbom

Founder, Managing Member

Paul Fruchbom is a veteran of the real estate development industry with more than 30 years experience. Prior to forming KDF Communities, he founded Partners Realty Capital, a real estate financing firm. In addition, Mr. Fruchbom served as vice president of the mortgage banking division at Grubb & Ellis Financial Services. Since 1978, he has been responsible for over $4 billion in commercial real estate financing. Mr. Fruchbom graduated from Bucknell University and Georgetown Law School.

Mark Hyatt

Founder, Managing Member

Mark Hyatt is responsible for handling the financing of projects and running the day-to-day operations of the company. Within the real estate industry, Mr. Hyatt is recognized as a leader in seeking new and unique methods of financing. Mr. Hyatt began working as a consultant in affordable housing finance in 1995 before forming KDF Communities with the other Partners Realty Capital members in 1996. He graduated from Cal State Long Beach, with honors, in real estate finance.

Heidi Bass

Asset Manager

As asset manager, Heidi Bass is in charge of coordinating due diligence, resolution of post closing issues, loan conversions and processing of capital installments. Ms. Bass holds a bachelor's of science degree from Southeastern Louisiana University.

Chris Burns

Director of Development

Chris Burns has been in the real estate industry for 16 years, specializing in real estate finance and development. Prior to joining KDF, Mr. Burns worked for Edison Capital closing tax credit projects and for Ernst & Young, LLP in their real estate consulting division. He has closed transactions with a number of different affordable housing funding sources, including low-income housing tax credits, tax-exempt bonds, AHP, MHP, HOME, RDA and USDA funds. Mr. Burns earned a degree in real estate finance from California State University of Long Beach and holds a California real estate broker's license.

Ray Harper

Acquisitions and Development

Ray Harper has more than 30 years experience in various aspects of the real estate industry. Prior to that, Mr. Harper worked as an executive in the securities industry. In addition, he has served as a board member for several private companies and participated on various committees for education. He was a member of beta gamma sigma and graduated from the University of Tulsa and pursued post graduate work in finance. Mr. Harper also served as an officer in the United States Marine Corps.

Kathy Leach

Chief Financial Officer

Kathy Leach has more than 25 years of experience as an accomplished real estate accountant. Her special expertise is in development, construction and asset management of residential, multifamily and commercial properties. Her expertise is in construction financing and cost accounting of on-going development projects. Ms. Leach graduated from Cal State Fullerton with a BA in Business Administration with an emphasis in accounting.

Rod MacDonald

Director of New Construction

Rod MacDonald works exclusively on the construction of new projects. Mr. MacDonald's experience includes multifamily real estate, land development and product design. He brings over 30 years of experience in development and construction and has been involved in the construction of more than 1,000 multifamily units and 20,000,000 square feet of commercial space. Mr. MacDonald earned a bachelor's of architecture from USC and is a licensed architect and contractor.

Michelle Morgan

Acquisitions Manager

Michelle Morgan manages the acquisitions process for KDF Communities. Ms. Morgan is involved in all phases of real property purchase and sale transactions including origination and due diligence. When she joined the firm, she had more than 10 years of managerial experience in the government and technology sectors in the Washington D.C. area. Ms. Morgan graduated from Radford University in Virginia.

Mary Rhodes

Project Coordinator

Mary Rhodes' responsibilities include monitoring teams of architects, engineers, contractors and property managers from project conception and budget through design, construction and occupancy. Ms. Rhodes is also responsible for the completion of construction financial reports and maintenance of path schedules to ensure the development process stays on track. In addition, she also maintains the documentation of all development activity.