Croatan Grows Affordable Housing Platform with New Team Member

George Tullos Jr. Joins Croatan

VIRGINIA BEACH, VA (April 19, 2023) – Croatan Investments (“Croatan”), a rental housing investment manager for private wealth and institutional capital, is pleased to announce the recent addition of George Tullos Jr. as a Senior Vice President on our transactions team. In addition to identifying, underwriting, and structuring investments across the company’s portfolio, Mr. Tullos will be leading Croatan’s affordable housing platform including both acquisition and development investments.

Senior Vice President of Transactions at Croatan Investments, George Tullos

Croatan's Outlook

“With over a decade of experience in affordable housing, George Tullos is the ideal candidate to lead this initiative within Croatan,” says Paul Van, Chief Executive Officer. “Affordable housing is yet another capability within our durable and agile platform with a strong alignment with our mission to support our communities while generating attractive returns for our investors.”

“Affordable housing is yet another capability within our durable and agile platform."

Prior Experience

Prior to joining Croatan, Mr. Tullos was the Senior Vice President of Development at Pivotal Housing Partners, where he created value for investors through apartment development efforts utilizing Low-Income Housing Tax Credits (LIHTC) for new construction, acquisition, rehabilitation, and housing preservation. His focus was on identifying, qualifying, securing, and entitling land for the development of both tax credit and market rate housing. While structuring investments with landowners and municipal representatives, Mr. Tullos cultivated and maintained strategic housing partnerships with non-profit organizations, state housing finance agencies, and other industry professionals. Previously, Mr. Tullos was the Chief Operating Officer at the Paces Foundation, where he focused on LIHTC/affordable apartment development, acquisition, leasing, and asset management. During earlier roles, he gained experience procuring and negotiating a full array of project financing and partnership agreements, including equity, construction, and permanent debt from investors, lenders, and other funding sources such as CDBG, PILOT, HUD, FHLB and TIF tax incentives. Mr. Tullos received his Bachelor of Arts in Political Science from University of Maryland Baltimore County.