Robert E. Larson,
Founder and Chief Executive Officer

Mr. Larson founded Acacia in 1986 and serves as its Chief Executive Officer. In addition to overseeing all aspects of Acacia’s business, Mr. Larson serves as a member of Acacia’s internal investment committee. Mr. Larson’s background includes BA and MBA degrees from Stanford University, as well as investment banking experience with Morgan Stanley & Co. in New York City. He has been actively involved as a principal in real estate development, financing, asset management and work-out transactions for nearly 30 years.

Robert G. Leupold,
Co-Chief Executive Officer

Mr. Leupold joined Acacia in 1994 and serves as Co-Chief Executive Officer. Mr. Leupold is responsible for managing the day-to-day operations of Acacia and serves as a member of Acacia’s internal investment committee. Mr. Leupold has extensive experience in the acquisition, financing, management and disposition of both residential and commercial property. Prior to joining Acacia, Mr. Leupold headed the Asset Sales Group of Union Bank where he was responsible for portfolio sales of non-performing investments and real estate owned (REO). Mr. Leupold also held management positions in Union Bank’s Special Assets Division and Real Estate Lending Group. He received a BA degree from the University of California at San Diego.

Todd R. Darling,
Executive Vice President

Mr. Darling joined Acacia in 2002 and serves as Executive Vice President with management responsibilities in its Income Property Division. He is also a member of Acacia’s internal investment committee. Mr. Darling has been actively involved in real estate investment for over 16 years. He has extensive experience in the acquisition, financing, and disposition of income property throughout the western United States. Prior to joining Acacia, he was responsible for the western region acquisition activity of Lend Lease, a large pension fund advisor. Mr. Darling also oversaw dispositions and financing activity for AEW Capital Management, and was a bank analyst for the Federal Reserve Bank of New York. He holds an AB degree in economics from Princeton University and is a Chartered Financial Analyst.

Peter L. Staver,
Acquisition Analyst

Mr. Staver joined Acacia in 2010 and serves as Acquisition Analyst within the Income Property Division. Prior to joining Acacia, Mr. Staver worked at Boston Capital Real Estate Partners, a national real estate investment company specializing in the acquisition of multifamily property. He received his BSE in Civil Engineering from Duke University.

Cynthia D. Mancarti,
Executive Assistant/Office Manager

Ms. Mancarti joined Acacia in 2011 and serves as Executive Assistant and Office Manager. She is responsible for all office operations and administrative support within the Income Property Division. Prior to joining Acacia, Ms. Mancarti worked for DMB Associates, a real estate development company, as Executive Assistant and Office Manager. She has over 9 years of experience in management and real estate.

Janet B. Bray,
Senior Vice President

Ms. Bray joined Acacia in 2002 and serves as Senior Vice President with responsibility for overseeing multifamily asset management. Ms. Bray has been actively involved in the management of apartment properties for over 25 years. Prior to joining Acacia, she was employed by Archstone-Smith, a large apartment REIT, as a Vice President responsible for the management of over 5,000 apartment units located in Northern California. She has significant experience with major renovations and value added property repositioning. She is a certified property manager and holds a California Real Estate Broker’s License.

Amanda H. Lindberg,
Vice President

Ms. Lindberg joined Acacia in 1998 and serves as Vice President with responsibility for acquiring multifamily property. While at Acacia, she has been actively involved in asset management, acquisitions and dispositions. Prior to joining Acacia, Ms. Lindberg worked as a project manager for Cresleigh Homes in San Francisco. She received her BA from the University of California at San Diego.

George P. Dobbel,
Vice President

Mr. Dobbel joined Acacia in 2006 and serves as Vice President of Asset Management with responsibility for overseeing the operations of multifamily assets. Mr. Dobbel has been actively involved in the management of multifamily real estate for over 20 years. Prior to Joining Acacia, Mr. Dobbel held positions in asset management for both public and private multifamily investment firms including Pacific Property Company and Essex Property Trust. Mr. Dobbel holds a BA in Economics from San Jose State University. Mr. Dobbel served as Chairman of the Board of the California Apartment Association, Tri-County Division in 2008 and currently sits on the Executive Committee for the California Apartment Association Board of Directors.

Karen P. Bowman,
Vice President

Ms. Bowman joined Acacia in 2010 and serves as Vice President of Asset Management with responsibility for overseeing the operations of multifamily assets. Ms. Bowman has been actively involved in the management of multifamily real estate for over 20 years. Prior to joining Acacia, she held positions in property management for both public and private multifamily investment firms including Perini Investment Properties, BRE Properties and Prometheus Real Estate Group. Ms. Bowman serves on the Board of Directors for the California Apartment Association as well as the CAA Tri-County Division. She is past President of the Board of Directors for the Rental Housing Organization of Southern Alameda County. Ms. Bowman is a Certified Property Manager (“CPM”) through the Institute of Real Estate Management.

W. Graham Davidson,
Vice President

Mr. Davidson joined Acacia in 2007 and serves as Vice President with responsibility for acquiring multifamily assets in the Income Property Division. Prior to joining Acacia, Mr. Davidson worked on the acquisition and disposition of Northern California multifamily properties for Pacific Property Company, a privately held multifamily investment company. He received his BA in Economics from Williams College.

Jennifer R. Eskildsen,
Vice President

Ms. Eskildsen joined Acacia in 2000 and serves as Vice President with responsibilities within the Income Property Division for debt financing, dispositions and other acquisitions and capital markets related matters. While at Acacia, she has been actively involved in asset management, acquisitions, dispositions and investor reporting. She earned her BA degree in Business Administration from Whittier College.

Andrew G. Eaton,
Senior Analyst

Mr. Eaton joined Acacia in 2007 and serves as Senior Analyst of Asset Management within the Income Property Division. Prior to joining Acacia, Mr. Eaton worked at Prudential Mortgage Capital Company, a national commercial and multifamily mortgage provider. He received his BA in Economics from Brigham Young University.

Denis M. Eastwood,
Project Manager

Mr. Eastwood joined Acacia in 2006 and serves as Project Manager, overseeing multifamily construction projects within the Income Property Division. He has over 30 years of experience in both field and supervisory positions within the construction industry. Mr. Eastwood is a graduate of Belfast College of Technology where he received the London City & Guilds Advanced Craft.

Katie A. Jensen,
Acquisition Analyst

Ms. Jensen joined Acacia in 2010 and serves as Acquisition Analyst within the Income Property Division. Prior to joining Acacia, Ms. Jensen worked at McDowell Properties, a national real estate investment company specializing in the acquisition of multifamily property. She received her BA from the University of Arizona.

Janet M. Sunga,
Administrative Associate

Ms. Sunga joined Acacia in 2006 and serves as Administrative Associate with responsibility for office management and administrative support within the Income Property Division. She has over 19 years of experience in technology and office management.

Daniel Valdez,
Asset Manager

Mr. Valdez joined Acacia in 2011 and serves as Asset Manager with the responsibility for overseeing the operations of multifamily assets. Mr. Valdez has been actively involved in the management of apartment properties for over 8 years. Prior to joining Acacia, he was employed by Prometheus Real Estate Group, a private multifamily investment firm, as Asset Manager responsible for over 10,000 apartment units located in California, Washington and Oregon. Mr. Valdez holds a BA in Communications from St. Mary's College.

Lewis W. Bernard,
Senior Advisor

Mr. Bernard serves Acacia in an advisory capacity. He is also the founder and chairman of Classroom, Inc., a non-profit corporation which creates interactive computer programs for adolescents and provides professional development for teachers who use these tools in the classroom. Mr. Bernard also serves as chairman of the American Museum of Natural History and Trustee of The Andrew W. Mellon Foundation. In 1994, Mr. Bernard retired from Morgan Stanley Group, Inc. where for almost 30 years he held a variety of senior management positions, including membership on Morgan Stanley’s board of directors.

F. Wesley Clelland, III,
Founder and President

Mr. Clelland founded Acacia in 1986 and serves as its President. He is also a member of Acacia’s internal investment committee. Mr. Clelland’s background includes BA and MBA degrees from Stanford University, as well as corporate finance experience with Morgan Stanley & Co. in New York City. Before joining Acacia, Mr. Clelland was the president of a real estate investment firm and a founder of SunVen Partners, a major Arizona-based venture capital fund. He has been actively involved as a principal in real estate development, financing, asset management and work-out transactions for nearly 30 years.

Steven S. Benson,
Advisory Director

Mr. Benson, who was an employee of Acacia for 8 years, now serves as an Advisory Director and a member of Acacia’s internal investment committee. Prior to joining Acacia, Mr. Benson held senior management positions with both public and private homebuilding companies, including one of the nation’s largest builders, Pulte Homes. His experience includes positions as S.V.P. of Operations, Chief Financial Officer, Chief Operating Officer and President. He has been actively involved in the homebuilding business for over 25 years. He is a certified public Accountant who holds a BS in Accounting from Eastern Michigan University and a master’s degree in Organizational Management from The Fielding Graduate Institute.

Richard J. Malouf,
Advisory Director

Mr. Malouf, who was an employee of Acacia for 15 years, now serves as an Advisory Director and a member of Acacia’s internal investment committee. Prior to joining Acacia, Mr. Malouf was a co-owner of Malouf Brothers Homes, a homebuilding company located in Phoenix. Mr. Malouf managed all aspects of residential and commercial development of Malouf Brothers Homes for 20 years and expanded Malouf Brothers Homes to a staff of 80 people. He holds an Arizona General Contractor License and received a BS degree from Arizona State University.

Stephen A. McLaughlin,
Senior Vice President

Mr. McLaughlin joined Acacia in 2005 and serves in a full time capacity as Senior Vice President with primary responsibility for underwriting all site development and entitlement issues for Acacia‘s Housing Division. Mr. McLaughlin has held senior management positions with both public and private homebuilding and land development companies, including one of the nation’s largest builders, MDC Homes. His experience includes positions as V.P. of Land Acquisitions, and General Counsel. He has been actively involved in the homebuilding/land development business for over 15 years. Mr. McLaughlin is a licensed attorney, holds a JD in law and a Masters degree in City Planning.

Paul D. Engler,
Senior Vice President

Mr. Engler joined Acacia in 2008 and serves as Senior Vice President with responsibility for originating new investment opportunities within the Housing Division. Mr. Engler has real estate banking industry experience lending to both public and private entities since 1991. Prior to joining Acacia, Mr. Engler was the Market Manager of the Southwest, Mountain and Public Builder Joint Venture Divisions with JPMorgan; in this role, Mr. Engler was responsible for over $2.0 billion in loan commitments. He holds a BA degree from the University of Iowa and an MBA from Arizona State University.

Angela M. Hood,
Vice President

Ms. Hood joined Acacia in 2007 and serves as Vice President of Asset Management within the Housing Division. Her responsibilities include maintaining entitlement and development approvals for land investments. Prior to Acacia, Ms. Hood worked for private and public homebuilders, including Centex Homes, having responsibilities including acquisition, forward planning, accounting and operations. She earned her BS in Business Administration from the University of Arizona.

Lora R. Campbell,
Asset Manager

Ms. Campbell joined Acacia in 2000 and is part of the asset management team within the Housing Division. Her responsibilities include processing homebuilder lot takedowns and providing general asset management support to the Housing Division.

Teresa G. Hall,
Paralegal

Ms. Hall joined Acacia in 2005 and serves as a Paralegal with responsibility for coordination and monitoring of legal documentation for Housing Division investments. She has over 10 years of experience as a paralegal specializing in real estate. Ms. Hall earned her BBA in Business Administration from Oklahoma Baptist University, her paralegal certificate from Phoenix College, and is an Advanced Certified Paralegal – Real Estate.

Gloria J. Jarab, CPA,
Senior Vice President and Controller

Ms. Jarab joined Acacia in 2004 and serves as Controller with responsibility for managing Acacia’s accounting staff and all internal accounting and control functions. She has over 25 years of experience in accounting and finance in the real estate industry. Prior to joining Acacia, Ms. Jarab was the controller for a privately held construction company based in Phoenix. She earned her BS in Business Administration with an accounting emphasis from the University of Phoenix and is a certified public accountant.

Carolyn F. House,
Senior Associate

Ms. House joined Acacia in 1993 and serves as Senior Associate. Her primary duties include investor relations, human resources administration and entity compliance management.

Linda K. MacConnel,
Accountant

Ms. MacConnel joined Acacia in 2004 and serves as Accountant for Acacia’s Housing and Income Property investment platforms. Prior to joining Acacia, Ms. MacConnel held various management positions in commercial property management. She earned her BS in Accounting from the University of Phoenix and currently holds an Arizona Real Estate Salesperson License.

Jeff J. Ratto,
Vice President

Mr. Ratto joined Acacia in 2011 and serves as Vice President within the Housing Division. Mr. Ratto has been actively involved in Real Estate investment and development for over 18 years. He has extensive experience in the acquisition, financing, entitlement and development of residential projects. Prior to joining Acacia, Mr. Ratto was responsible for the acquisition and underwriting of new projects in Northern California for the AG Spanos Company, a privately held multifamily development company. He has held senior management positions with both public and private homebuilding companies including the Pulte Group and Beck Properties. Mr. Ratto holds a BA in Law from the University of California at Santa Barbara, an MBA from St. Mary’s College of California and is a licensed General Contractor and Commercial Broker.