UDR, the country's 15th-largest apartment owner, has hired Dave Bragg as its new CFO. Bragg succeeds Joe Fisher, who was appointed chief investment officer in January in addition to his responsibilities as the REIT’s president, according to a news release.
Since 2022, Bragg has been at Roots Management Group, an Addison, Texas-based owner and operator of manufactured housing and recreational vehicle resort communities. He served as the firm's chief strategy officer and head of investment management before moving to CFO at Roots.
Bragg worked at the Newport Beach, California-based research firm Green Street before joining Roots. He has also held senior leadership positions at Zelman & Associates, ISI Group and Merrill Lynch.
Bragg has served as a global governing trustee of the Urban Land Institute since 2022 and is a member of the Pension Real Estate Association.
“Dave is a seasoned executive with an exceptional blend of strategic insight, analytical rigor and capital markets expertise,” said Tom Toomey, UDR chairman and CEO, in the release. “His deep experience across the residential real estate spectrum and proven leadership will further strengthen our entire organization.”
Haendel St. Juste, managing director of REITs for investment bank Mizuho Securities, said in an email to Multifamily Dive that Bragg was a “very solid hire.”
“He’s a well-known commodity,” said St. Juste, who worked at Green Street prior to Bragg’s arrival.
On UDR’s first-quarter 2025 earnings call last month, where the REIT posted a 97.2% occupancy rate, 0.2% higher than its 2024 Q1 average, Toomey said the firm wasn’t focused on a timeline for filling the position.
“For us, it’s finding the right fit for the team and the future and our strategy,” Toomey said.
The CEO added that UDR received a “robust response” of applicants for the CFO position.
“We have a very, very deep pool of candidates and we’re now starting the face-to-face interviews,” Toomey said on the call. “So I feel very optimistic about the position.”
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