A new student housing REIT backed by the Rich Uncles investment group named Raymond Pacini chief financial officer.
Rich Uncles buys commercial real estate through crowdfunded investing. Brix Student Housing REIT Inc., which launched on April 17 via an offering circular, shares Rich Uncles’ Costa Mesa headquarters.
Pacini had been CFO at Northbound Treatment Services, a privately held Newport Beach company that treats drug and alcohol addiction, for five years.
He was previously president and chief executive of land developer California Coastal Communities Inc. and CFO of its predecessor companies, Koll Real Estate Group Inc., Bolsa Chica Co., and Henley Properties Inc.
Rich Uncles investor and Brix Student Housing board Chairman Ray Wirta was chief executive of Bolsa Chica Co. He’s chairman of CBRE Group and president of Irvine Co.
Pacini has a bachelor’s degree from Colgate University and an MBA from Cornell.
For more on the new student housing REIT see the Startups column in the Business Journal print edition on Monday.