Baton Rouge-based Stonehenge Capital has hired former HRI Properties executive Richard Allen as its new Director of Strategic Initiatives.
In his new role as part of the tax credit services team at Stonehenge, Allen will be responsible for expanding Stonehenge’s real estate investments, including providing equity capital to qualified businesses located in Opportunity Zones.
Allen is a great hire and huge win for Stonehenge. Prior to joining Stonehenge, Allen was a Vice President at national real estate firm HRI Properties. During his 12 years at HRI, he was responsible for managing, underwriting and closing multiple large-scale hospitality, multifamily and mixed-use developments in cities across the United States, with total development costs in excess of $1 billion.
“Richard’s background is well-suited to serve our clients, our vision and the communities where we invest,” said Stonehenge President Tom Adamek in a press release. “We believe that impact investment, transformational capital and economic revitalization can lift and grow underserved communities. In his new role, Richard will help us to realize several key initiatives, ensuring that we continue to be at the forefront of specialty finance and impact investing.”
Allen, who is based in New Orleans, is also an Adjunct Lecturer at Tulane University, where he teaches real estate finance for Tulane University’s Master of Sustainable Real Estate Development Program. Allen received a Master of Finance degree, as well as a Bachelor of Science in Management, with a dual concentration in Finance and Management, from Tulane University’s A.B. Freeman School of Business.
“Stonehenge Capital is renowned as an innovative thought leader in its field, with a 20-year track-record of transforming communities by making impactful, socially conscious investments,” Allen said. “I look forward to supporting Stonehenge’s continued success by creating positive impacts for people in underserved communities throughout the country.”
Stonehenge is a national leader in specialty finance, focusing its investment efforts in small businesses, real estate developments, historic rehabilitation projects, renewable energy installations and film and entertainment productions in more than 30 states across the country.