Preservation Equity Fund Advisors Announces Addition of David “Mac” McWhorter to the PEF Advisory Board

Irvine, Calif. - October 5, 2026 - Preservation Equity Fund Advisors ("PEF Advisors") is pleased to announce David "Mac" McWhorter has joined the PEF Advisory Board, bringing decades of experience in the institutional real estate industry.

Mr. McWhorter is a Managing Director with Institutional Real Estate, Inc. and has led the firm's Institute for Real Estate Operating Companies and IREI Advisory Partners since 2016. Previously, McWhorter spent over 30 years in institutional investor capital raising and relations where he raised over $12 billion for leading real estate investment management firms, including AEW Capital, Nuveen Real Estate/Henderson Global, Heitman, and Carmel Partners.

"I have spent much of my career working with real estate investment managers as they build institutional platforms, develop investor relationships and navigate the opportunities and challenges that come with growth," said McWhorter. "I look forward to drawing on that experience to provide perspective and counsel to Ann and the PEF team as they continue to grow the firm, broaden their institutional investor base and build on their existing, deep expertise in affordable housing."

"I have known Mac for more than 20 years, as a highly respected member of the institutional real estate community, and I am delighted to now have the opportunity to work with him in this capacity," said Ann Caruana, President and CIO of PEF Advisors. "Mac brings an exceptional depth of experience across capital formation, investor relations and the broader institutional real estate landscape. His perspective will be invaluable as we continue to grow PEF Advisors and further establish our institutional investment platform."

Mr. McWhorter joins existing Board members, Tony Breault, Managing Director of portfolio management at Ascentris; Gena Cheng, Found of Prospect Avenue Partners; Lawrence J. Hass, Attorney at Difede Ramsdell & Bender; John Hurley, Chief Investment Officer and co-founder of Penwood Real Estate Investment; and Trisha Malone, President of Anton DevCo.

PEF Advisors looks forward to working closely with the Advisory Board as the firm continues to create innovative investment solutions focused on preserving and enhancing affordable housing communities across the United States.

About Preservation Equity Fund Advisors, LLC
Since 2016, Preservation Equity Fund Advisors, LLC (PEF Advisors) has focused on acquiring and preserving existing affordable housing in high-cost markets through private equity funding. PEF Advisors is an affiliate of the WNC & Associates, Inc. (WNC) family of companies with access to WNC's more than 55 years of experience in acquiring more than 121,000 units representing $22 billion in affordable housing nationwide, including through tax credit and/or preservation equity strategies.