Richard K. Devaney has over 35 years of institutional experience in the investment, development and operations of multifamily housing and commercial real estate. In 2015, Mr. Devaney, along with two other seasoned multifamily rental lending professionals, launched EagleBank’s FHA Multifamily Lending Division. This business a significant contributor to the bank’s profitability along with socially responsible investment strategies. Devaney has also overseen several new investment initiatives on behalf of EagleBank which are accretive to the bank’s overall strategic plan.
From 2006 up through 2015, Mr. Devaney co-founded Crossbeam Capital an institutional real estate investment advisor and launched its first private equity real estate fund in 2007. As Chairman and CEO, Mr. Devaney had comprehensive company responsibilities for investment strategy, capital markets, portfolio and asset management, and investor relations while having over $1 billion in assets under management.
Prior to forming Crossbeam Capital, Mr. Devaney served as National Vice President for Equity and Mezzanine Debt Investments with the American Communities Fund at Fannie Mae (“ACF”), and authored ACF’s five-year strategic plan. From 2001 to 2006, Mr. Devaney managed a team that was primarily responsible for all of ACF’s equity investments, generating $971 million in investments over 188 transactions, spanning 40,504 units, with a total market capitalization in excess of $5 billion.
Prior to joining Fannie Mae, Mr. Devaney was Senior Vice President of the Community Development Lending Division at the Bank of America. Mr. Devaney holds a B.A. from Belmont Abbey College, with majors in Economics and Business Administration. He is presently the Finance Chairman of C.A.S.E., a 501 (c)3 – Center for Adoption Support and Education.