MEET THE TEAM
MARQUIS E. HYATT
Co-Founder
Marquis E. Hyatt co-founded KDF Communities in 1996 alongside Paul Fruchbom with a mission to acquire, preserve, and develop affordable housing throughout the State of California. Prior to forming KDF, Mr. Hyatt began his career in affordable housing in 1995 with Partners Realty Capital, where he worked as an affordable housing finance consultant.
Throughout his leadership of KDF Communities, Mr. Hyatt brought extensive experience in project financing, including the use of tax-exempt bonds, 4% and 9% Low-Income Housing Tax Credits, HUD financing, City loans, HEART and HOME loans, 1031 exchanges, New Markets Tax Credits, and bridge financing. He played an integral role in determining the feasibility of new acquisitions and overseeing the refinancing, rehabilitation, new construction, and operation of affordable housing communities throughout California.
As KDF’s Co-Founder and Managing Member, Mr. Hyatt was instrumental in building and leading the organization and its team of professionals across project-based accounting, construction management, property management and compliance, underwriting, market research, and budgeting. Under his leadership, KDF developed longstanding relationships with State agencies, lenders, tax credit investors, and other industry partners while successfully navigating the complex financing, due diligence, compliance, and reporting requirements associated with affordable housing.
Mr. Hyatt graduated with honors with a Bachelor of Arts degree from California State University, Long Beach.
PAUL FRUCHBOM
Co-Founder
Mr. Fruchbom joined Marquis Hyatt in 1996 to form KDF Communities. Prior to KDF, he was Vice President of the mortgage banking division at Grubb Ellis Financial Services, and later founded Partners Realty Capital, LLC, a mortgage brokage company. Mr. Fruchbom has been responsible for over $4 billion in real estate investment since 1978.
Mr. Fruchbom was instrumental in KDF’s participation in the New Market Tax Credit program that incentivizes community development and economic growth through the use of tax credits that attract private investment to distressed communities.
Mr. Fruchbom continues to look for new investment opportunities for KDF in the commercial sector. He also continues to participate in the determination of the feasibility of new acquisitions and oversight of the KDF portfolio.
Mr. Fruchbom graduated with a Bachelor of Arts degree in Economics from Bucknell University and received a Juris Doctor degree from Georgetown Law School.
CHRIS BURNS
Managing Member & Director of Development
Chris Burns joined KDF Communities in 2004 and serves as Managing Member and Director of Development. In his role as Managing Member, Mr. Burns oversees the company’s operations and strategic direction while continuing to lead KDF’s development and financing activities.
Mr. Burns has been involved in the financing and development of affordable housing since 1997 and has closed more than 70 affordable housing transactions. He is responsible for evaluating and determining the most effective financing structures for KDF’s affordable housing communities and has extensive experience working with a wide range of funding sources, including tax-exempt bonds, 4% and 9% Low-Income Housing Tax Credits, HOME funds, CDBG, MHP funds, AHP funds, HEART funds, and RDA funds.
Throughout his tenure at KDF, Mr. Burns has played an integral role in the acquisition, financing, development, and preservation of affordable housing communities throughout California. As Managing Member, he works closely with KDF’s team and industry partners to guide the company’s continued growth and commitment to providing quality affordable housing.
Mr. Burns graduated with a Bachelor of Arts degree in Real Estate Finance from California State University, Long Beach.
KATHY LEACH
Chief Financial Officer
Ms. Leach began working for KDF in 2005 to develop and administer a complex business structure that meets the needs of a diverse and growing real estate portfolio. She created a database for the existing projects as well as added a component for the newly opened construction division which built 7 new apartment complexes over the following four years.
As Chief Financial Officer of KDF, Ms. Leach manages the KDF related financial data and operations which includes knowledge of project-based accounting, construction management, oversight of property management reporting, and budgeting. She works directly with lenders and multiple tax credit investors for the submission of financial reporting and is responsible for overseeing outside audit and tax professionals.
Ms. Leach’s experience in project accounting includes 20 years of residential accounting experience from construction to sales of single-family homes and multi-family apartment complexes. She spent the next 11 years developing and managing over one million square feet of office and retail multi-use complexes in Irvine, CA.
Ms. Leach graduated with a Bachelor of Arts degree In Business Administration with an emphasis in Accounting from Cal State Fullerton.
JOEL THOMAS
Senior Director
Joel Thomas joined KDF in January 2020 and is responsible for overseeing all capital transactions for the portfolio. Mr. Thomas comes from Kairos Investment Management Company where he led multifamily acquisitions for their $300 Million evergreen affordable housing fund alongside his involvement with their market-rate value-add fund series.
Mr. Thomas has fifteen years of multifamily investment experience which has included acquisitions, dispositions, debt restructurings, asset management and brokerage. He has acquired and managed multifamily investments in markets across the country, including Washington, Oregon, California, Arizona, Utah, Colorado, Texas, Tennessee, North Carolina, and Florida.
Mr. Thomas has surpassed $1 Billion in transaction volume over his career. He graduated from the University of Washington’s Foster School of Business with a degree in Business Administration and Finance.
MAYRA PETERSON
Director of Asset Management
Mayra Peterson joined the KDF team in 2019 and is responsible for overseeing the company’s entire multifamily portfolio. Ms. Peterson works closely with Property Management Executives and onsite staff to execute various operating and investment strategies, including property budgets and rehab, occupancy monitoring and improvements, and compliance reporting. In addition to portfolio management, at the corporate level, she coordinates due diligence and partnership documentation and leads the investor relations team.
Ms. Peterson has twenty years of multifamily property and portfolio management experience with a special emphasis on HUD and LIHTC programs. Mayra currently holds professional certifications as a Housing Credit Certified Professional (HCCP), Certified Compliance Professional (CP3), Certified Occupancy Specialist (COS), and Management and Occupancy Review Specialist (MORS).
BETTY ROSAS
Project Accountant
Betty Rosas joined KDF in July 2020 as the company’s project accountant. Ms. Rosas assists the Chief Financial Officer and is responsible for reporting financial data for multiple entities. She is in charge of accounts receivable, accounts payable, tracking job costs, and assists with construction property draw packages.
Ms. Rosas also reviews the general ledger accounts and budgets and completes monthly analysis and financial reporting to management. She has excellent, detail-oriented accounting skills and excels in accurate account reporting and compliance.
Ms. Rosas has over 20 years of property management accounting experience, which includes a multifamily portfolio of apartments, mobile homes, and storage units.
RICCARDO LEMOS
Director of Acquisitions
Riccardo Lemos joined KDF in July 2022 and serves as Director of Acquisitions. Mr. Lemos is responsible for deal sourcing, deal underwriting, and supporting the firm’s refinancing and disposition efforts. Prior to KDF, Mr. Lemos spent 6 years at Kairos Investment Management Company, where he led acquisitions for the firm’s $150M+ closed-end value-add funds as well as its $300M+ open-ended affordable multifamily fund.
During his ten-year career in multifamily investments, Mr. Lemos has been directly involved in the acquisition of over 9,000 multifamily units (40+ properties) across 12 states totaling over $1.6B in value. He has experience in acquisitions, dispositions, debt restructurings, joint venture partnerships, and asset/portfolio management.
Mr. Lemos holds a Bachelor of Arts degree with a major in Economics and High Distinction in General Scholarship from the University of California, Berkeley, and is fluent in English, Portuguese, Italian, and French.