The people behind the portfolio.

Steven Usdan is President and Managing Member of CCA Acquisition Company, LLC and its affiliate, Community Development Real Estate. Since 2001, Mr. Usdan has been actively engaged in and overseeing acquisitions, development and re-development, leasing, construction, asset management, financing, and dispositions. A cornerstone of his approach is fostering meaningful relationships within the industry — connections that have produced valuable off-market opportunities and access to information critical to making judgments that minimize risk and maximize value.

Mr. Usdan's track record of creating value for investors is built on relationships, experience, integrity, tenacity, and a solution-oriented mindset, coupled with strategic planning and meticulous execution. Through CCA and CDRE, he has acquired and developed or re-developed over 6 million square feet of real estate, including 26 grocery-anchored shopping centers comprising approximately 4.1 million square feet — 22 of them, comprising 3.7 million square feet, acquired in joint venture with Kennedy Wilson. Prior to entering the real estate business, Mr. Usdan practiced law at Munger, Tolles & Olson LLP and Skadden, Arps, Slate, Meagher & Flom LLP.

Nancy Epstein joined CCA in 2001 and is responsible for financial reporting, construction accounting, lender interface, and tax return preparation for all LLC entities and properties. She leads the internal construction accounting team at CCA and CDRE, directing the financial analysts and construction accountants who process construction-related invoices and applications for payment, and oversees lender draws and construction financing in connection with the redevelopment of the firm's retail shopping centers.

Ms. Epstein spent ten years with the national accounting firm Spicer & Oppenheim in its audit, tax, and business consulting departments, then several years as an investment banker with Cantor Fitzgerald specializing in leveraged management buy-out transactions. For the last 23 years she has focused entirely on real estate transactions for CCA and CDRE, where her financial analysis, risk management, and creative problem-solving have contributed greatly to the firms' track record. She is a graduate of California State University, Northridge with a B.S. in Business Administration (Accounting), holds a Master of Science in Taxation from Golden Gate University, and is a Certified Public Accountant (license status: inactive).

Kenneth Stiles leads acquisitions and leasing for CDRE/CCA. He is primarily responsible for the acquisition of existing multi-tenant and retail assets — including negotiation and underwriting — the disposition of assets upon completion of their business plans, and adding value to the portfolio through leasing and redevelopment.

Mr. Stiles joined the company in July 2016 following more than 10 years with The Kroenke Group (TKG), where he began as an intern while completing his MBA and rose to Executive Vice President, overseeing the company's 45-million-square-foot shopping center portfolio and serving as its sole in-house acquisitions associate. From 2013 to 2016 he completed more than 425 lease transactions comprising nearly 2 million square feet with a total value exceeding $200 million, and was key to growing the company from roughly 7 million to 45 million square feet in under five years. He holds a B.S. in Mathematics from Tennessee Technological University and an MBA in Finance and Management from the University of Missouri–Columbia.

Shimon Farber is Senior Associate, Leasing & Acquisitions at CCA and CDRE, specializing in financial modeling, market analysis, and investment strategy. Mr. Farber works closely with Mr. Stiles in the analysis of new acquisitions and is responsible for underwriting refinancing projects across the portfolio's existing properties.

In his previous career, Mr. Farber practiced medicine as a resident physician in hospitals in New York and Los Angeles before transitioning to commercial real estate development and finance. He completed his MBA in real estate and finance at the University of Southern California in 2023 and received his M.D. from New York Medical College in 2017.

Alex Usdan joined CCA in April 2019 and manages the ongoing process of design, permitting, and construction for all new development, renovations, and tenant-improvement build-outs. His responsibilities span due diligence, LOI and lease negotiations from a constructability standpoint, supervising architectural design, site and land entitlements and permitting, budget management, scheduling, and construction.

Prior to joining the company, Mr. Usdan held project and program management positions with engineering design, construction consulting, and corporate real estate firms, working on an array of commercial, institutional, and residential projects. In addition to his civil/structural engineering degree, he holds an MBA in Real Estate and brings over 20 years of creative design and project management experience to the firm.

Hayley Zoroya joined CCA in 2017 as a financial analyst and property management professional. She graduated magna cum laude from the W.P. Carey School of Business at Arizona State University with a degree in finance, worked for General Electric in international manufacturing finance and accounting, and then shifted her focus to real estate and construction financial analysis and commercial property management, obtaining her real estate license in 2011.

Prior to joining CCA, Mrs. Zoroya managed a team of commercial property management professionals. In her current position she works closely with the CFO and construction team on construction-related reviews and analyses, transaction finance and accounting, and preparation of financial statements — bringing 18 years of finance, accounting, and property management experience to the team. She also serves as a housing commissioner for the City of Flagstaff, Arizona, in the property management professional seat.

Kristine Esguerra leads the organization's corporate accounting, tax, and financial reporting functions. Originally from the Philippines, she graduated magna cum laude from Adamson University with a Bachelor of Science in Accountancy and spent her early career as an auditor at PricewaterhouseCoopers and internal auditor at the Central Bank of the Philippines.

Since relocating in 2017, Ms. Esguerra has built real estate accounting expertise across multiple sectors, including office, industrial, retail, multifamily, and ground-lease projects. She continues to advance her education, earning a Master's degree in Business Administration, becoming a Certified Public Accountant, and holding a global certification in internal audit.

Krista supports the firm's executive team and coordinates transaction activity across the portfolio.