Appreciation Homes

About Us

From Vision to Reality: Your Dream Tenant from the Start

Fueled by our trailblazing vision, we’ve forged a path to a novel investment opportunity within the single-family rental sector. Our mission is to offer investors not just access, but effortless wealth creation.

Stephen Satterfield

CEO, Appreciation Homes

Long-Term NNN Lease

Appreciation Homes is the first investment-grade tenant for NNN single-family rental properties

Born out of an innovative vision, Appreciation Homes has created a new investment asset class in the single-family rental sector with a patented process. We provide investors a simple, safe, and accessible product by eliminating management responsibility, capital expenditure, and vacancy risk.

BBB+ Rated Tenant

Long-Term Bond-Net Lease Structure

Cash Flow Stability

Strategic Partnerships

Founded in 2012, NexPoint has been revolutionizing the alternative investment industry for over a decade. NexPoint approaches critical investment opportunities created by constantly shifting market dynamics with an entrepreneurial mindset, demonstrating a consistent and agile approach to alternative asset management. NexPoint offers a suite of products across credit, real estate, structured products, equities, real estate, and insurance and retirement solutions. NexPoint is a multibillion-dollar alternative investment platform built from components which include a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles. Their platform effectively brings innovative alternative strategies to institutional investors and to retail channels through independent broker-dealers and investment advisers.

Founded in 2015, Roofstock is a pioneer in providing Real Estate Investment as a Service (REIaaS) for investors in the $5 trillion single-family rental (SFR) sector across the entire investment lifecycle. Its proprietary data, technology, and integrated services make it possible for investors to maximize opportunities across the U.S. and realize substantial returns. Roofstock is backed by a blue-chip roster of venture capital investors including Khosla Ventures, Bain Capital Ventures, Lightspeed Venture Partners, Canvas Ventures, and SoftBank Vision Fund 2. Roofstock has facilitated more than $6 billion in transactions on its platform to date. Roofstock is a technology enhanced SFR Investment Service platform seeking to help institutions and individuals with their full cycle SFR strategy.

Our Team

Leadership

Stephen Satterfield

Chief Executive Officer

Stephen Satterfield

Chief Executive Officer

Mr. Satterfield is currently the Chief Executive Officer for Appreciation Homes. He also serves as a member of the investment committee. Previously, Mr. Satterfield was Partner of Capview Partners and led the overall business development activity. Mr. Satterfield also worked for RQSI (or an affiliate) in real estate special situations, holding many different roles. He was previously a Partner with Newfield Capital Partners, a boutique private investment firm where he was responsible for its real estate investments. Prior to that, he was a Managing Director at Conficare, a real estate investment, and development company, in charge of overall business development. Prior to his role at Conficare, he was a Managing Partner at EBA, a $500mm private equity real estate fund. Before that, he was a Managing Director at Everbright Ashmore Fund, a private equity real estate fund primarily focused on asset management. He was formerly a portfolio manager for a multi-family property portfolio where he was responsible for its overall performance, including acquisition, construction/rehabilitation, and divestment activity. Mr. Satterfield received a Bachelor’s degree from the University of South Florida and an M.B.A. from the University of North Carolina.

Kevin Connelly

Chief Operating Officer

Kevin Connelly

Chief Operating Officer

Mr. Connelly currently serves as the Chief Operating Officer of Appreciation Homes. As the former CFO of Capview Partners, Mr. Connelly oversaw the finance and administration functions of the company including the finance, treasury, legal, accounting, HR and IT. At Capview Partners, Mr. Connelly grew the company’s assets under management from $12M to $350M, successfully converted the Company’s flagship fund into an open-end structure, and effectively transferred the fund business to a subsidiary of a Global Fortune 500 company. Mr. Connelly has accumulated over 25 years of finance and accounting experience in high growth small and mid-cap companies after starting his career at ‘Big Four’ CPA firm, KPMG. Most recently, Mr. Connelly served as VP, Finance for Martek Biosciences where he implemented a world-class finance infrastructure to support revenue growth of $18 million to $450 million worldwide and the successful sale of the company to global conglomerate Royal DSM for $1.1 billion. He has held financial leadership positions in Storage USA, Aether Systems, and Integrated Health Services where he assumed key roles in the raising of over $2.4 billion in public debt and equity markets and private ventures, including two IPOs. During his tenure at self-storage REIT, Storage USA, the company grew to become the second largest REIT of its kind with the acquisition of over 300 properties valued at over $600 million. Mr. Connelly is a CPA and graduated Summa Cum Laude from James Madison University with a BBA in Accounting. He resides in Southlake, Texas with his wife and four children and enjoys playing tennis, hiking, and actively volunteering in his church.

Danilo Da Silva

Senior VP

Danilo Da Silva

Senior VP

Danilo is a Senior Vice President at Appreciation Homes, responsible for portfolio strategy and all financial and quantitative analysis behind the firm’s real estate investment solutions. He has 13 years’ experience in Financial Analysis, Commercial Real Estate Funds, and Corporate Finance. Prior to joining Appreciation Homes' team, Danilo was a Director at Capview Partners where he led the development of the company's first-to-market net lease structured products. Danilo was also responsible for the research, analysis, and strategy development for institutional and private equity funds. Prior to joining Capview, Danilo worked as a Controller and Finance Director for the Martifer Group, a publicly traded multinational construction and renewable energy conglomerate. Prior to joining Martifer, Danilo worked as a Project Manager and App Developer for one of Salesforce’s most recognized Real Estate partners, REthink CRM. He was also an Analyst for the Ann Rife Cox Endowment Fund at Southern Methodist University where he covered both Real Estate and Financial Services sectors. Danilo graduated Summa Cum Laude from the Edwin L. Cox School of Business at Southern Methodist University where he earned a BBA with Honors in Finance and a BSc. in Economics.

Email:Danilo@appreciationhomes.com

Will Davis

VP, Acquisitions

Will Davis

VP, Acquisitions

Mr. Davis is Vice President of Acquisitions for Appreciation Homes and is responsible for all stages of the deal-flow from research, to underwriting, to sales, and maintenance of analytical models. He has 9 years’ experience in commercial real estate acquisitions, market research, management and analysis. Prior to joining Appreciation Homes, Mr. Davis was a Manager of Acquisitions at Roofstock in their institutional acquisitions group. He managed a team of up to 10 associates and was involved in underwriting, acquisition, due diligence, and market research activities. Prior to joining Roofstock, Mr. Davis was a Senior Analyst at Lantower Residential where he was responsible for underwriting, model creation, product and market research and was a member of TREC's Young Guns. Prior to that, he was the Financial Analyst for Greystar's Student Living platform, where he was responsible for market research, underwriting, strategic planning, and modeling. Mr. Davis attended the University of Notre Dame’s Mendoza Business School where he earned a BBA in Finance. He enjoys traveling, sports, reading, and spending time with his wife and dog.

Email:Will@appreciationhomes.com

Kristen McElyea

Administration Manager

Ms. McElyea is Administration Manager for Appreciation Homes and is responsible for overseeing all office operations, company policies and procedures, human resources, and event planning.

Kristen McElyea

Administration Manager

Ms. McElyea is Administration Manager for Appreciation Homes and is responsible for overseeing all office operations, company policies and procedures, human resources, and event planning. Prior to joining Appreciation Homes, she worked as a Corporate Service Specialist where she oversaw human resources, training, financial statements and reconciliation, budget management, and office project management for CV Americas, a non-profit organization.  Prior to joining CV Americas, she worked as an Executive Assistant to two C-Suite executives. During her time in this position, Ms. McElyea took on responsibilities for executives including hiring, expense reporting, coordinating events, training new team members, and documentation.  Ms. McElyea is a pro-active, reliable, and innovative financial and office administrator with a focus on building a cohesive team environment.  Ms. McElyea graduated Summa Cum Laude from University of Mary Hardin Baylor where she earned a Bachelor of Business Administration degree in Management. She enjoys travelling, spending time with friends and family, and playing pickleball.  

Email:Kristen@appreciationhomes.com

Board of Directors

We maintain strong governance with a Board of Directors composed of three members, two of whom serve as independent Directors, Rich Ford of Roofstock and James Graff of Raymond James.

James Graff

Board of Managers

James Graff has 19 years of investment and merchant banking experience, 17 of which have been with the Real Estate Investment Banking group covering REITs, lodging companies and home builders.

James Graff

Board of Managers

James Graff has 19 years of investment and merchant banking experience, 17 of which have been with the Real Estate Investment Banking group covering REITs, lodging companies and home builders. He has managed more than 450 equity transactions that raised over $100 billion in various forms of capital in the public and private markets, and he has represented clients in numerous M&A transactions worth in excess of $20 billion. Prior to joining Real Estate Investment Banking, Mr. Graff worked at Raymond James Capital, a middle-market merchant banking fund, and at Robertson Stephens and Merrill Lynch investment banking, where he assisted clients in executing several mergers and acquisitions, public offerings and private placements in the technology, metals, and mining and logistics industries. He graduated with honors from Pennsylvania State University with a Bachelor of Science in finance and a minor in economics.

Rich Ford

Board of Managers

Rich Ford

Board of Managers

As Chief Development Officer of Roofstock, Rich Ford is a driving force behind the company’s rapid growth, spearheading the implementation of new services and tools intended to make the Roofstock platform a seamless experience for the end-user. “I hold the firm belief that technology is a necessary force in optimizing and democratizing the SFR industry. Working with our talented product, engineering and data teams, I'm committed to solving for the chronic friction that the industry has experienced and enable all investors to experience the benefits of SFR investing.” Mr. Ford has more than 20 years of M&A and capital raising experience, which has been a critical element of laying the groundwork for Roofstock's supply and industry-leading analytics and underwriting models. Prior to Roofstock, Mr. Ford was a Managing Director at Jefferies, where he incidentally organized the first SFR industry conference. He has also held positions at Bank of America, Merrill Lynch, the Royal Bank of Canada, Morgan Stanley and Lehman Brothers. Mr. Ford is a 2019 HousingWire Insider, having been recognized as a pioneer of SFR investing and driving force behind Roofstock's growth. He holds a Bachelor of Science from the University of Victoria, a Master of Science from the London School of Economics, and a Master of Business Administration from the University of Chicago.

About Us

From Vision to Reality: Your Dream Tenant from the Start

Long-Term NNN Lease

Appreciation Homes is the first investment-grade tenant for NNN single-family rental properties

BBB+ Rated Tenant

Long-Term Bond-Net Lease Structure

Cash Flow Stability

Strategic Partnerships

Our Team

Leadership

Stephen Satterfield

Kevin Connelly

Danilo Da Silva

Will Davis

Kristen McElyea

Board of Directors

James Graff

Rich Ford

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