People
Experience with responsibility
Leading Angeles' investments, capital, and asset management.
Ryan Gahagan
Ryan Gahagan leads investment and development for Angeles Residential. He has led $550M+ of multifamily and mixed-use acquisitions and development as a principal, with experience spanning ground-up development and affordable housing acquisitions and finance, including expertise in LIHTC, tax-exempt bond, and HUD programs. He is based in Newport Beach, California.
Warren Horvath
Warren leads institutional equity relationships and capital formation for Angeles. He brings 25+ years in housing investment and finance, including roles as Head of Capital Markets at The Michaels Organization, CIO of Community Development Trust, and President of Mercy Community Capital. He is also the founder of Housing Capital Advisors.
Jordan Maas
Jordan leads asset management for Angeles. His experience includes oversight of a 2,700-unit workforce housing portfolio, spanning property performance, operating partner oversight, reporting, and investor communication. He began his career with five years at Ernst & Young and is a licensed CPA.
Advisory Committee
Counsel from leaders who have built enduring firms
Our Advisory Committee brings together accomplished leaders in real estate investment, operations, and capital who share our commitment to essential housing. Committee members offer perspective and counsel to Angeles' partners; they are not employees or fiduciaries of Angeles.
Rand Sperry
Rand Sperry is a nationally recognized leader in commercial real estate. In 1987 he co-founded Sperry Van Ness International, a national brokerage organization, and later founded Sperry Commercial Global Affiliates, the nation's fastest-growing commercial brokerage franchise. As owner of Sperry Equities, he has acquired more than 65 commercial, industrial, and office properties exceeding $1 billion in value, with over 10 million square feet under management.
Our partners
Experience as owners, operators, and developers
Angeles is led by partners with decades of combined experience across housing ownership, operations, development, entitlement, and capital markets, built through prior firms.
Selected prior and affiliated experience of Angeles' partners through prior firms, including historical holdings and entitled units. Not an Angeles portfolio total.
Angeles Capital Markets
Warren Horvath
Capital Markets, Angeles Residential
Affordable housing leadership
Former Head of Capital Markets, The Michaels Organization
Former CIO, Community Development Trust
Former President, Mercy Community Capital
Founder, Housing Capital Advisors
At Angeles
Warren leads capital formation and institutional equity relationships for Angeles, bringing affordable housing capital markets depth to every transaction we pursue.