GREENVILLE, S.C. — Affordable Upstate, a private equity firm focused on workforce and affordable housing, has evolved its leadership structure by naming co-founder Mario Brown its new Chief Executive Officer.
This transition marks a significant milestone for Affordable Upstate, emphasizing its continued commitment to sustainable, community-driven housing solutions and robust investor returns.
Since its founding in 2016, Affordable Upstate has raised more than $55 million in investor equity, generating strong returns and providing several successful exits for investors. Brown, who purchased his first multifamily complex in 2014, brings more than a decade of multifamily investment experience and a strategic vision for scalable, cost-saving measures that directly enhance portfolio value and resident impact.
“Affordable Upstate was founded on the principle that affordable housing and strong investor returns can go hand-in-hand,” Brown said.
Brown highlighted the company’s focus on innovative, scalable solutions such as Naturally Occurring Affordable Housing Property Management, and non-profit partner, Southeast Affordable Housing Administration, as examples of ways it will continue to grow.
“These initiatives allow us to implement cost-saving measures tailored to maximize portfolio value, enhance resident impact, and ultimately position us toward consistent performance with institutional-grade reporting standards,” he said. “With a strengthened leadership team, we are better positioned than ever to meet the challenges of inflation.”
In addition to Brown’s new role, Affordable Upstate has also added Chris Rawlings and Sam Gooding, to support its growth. Rawlings brings more than 30 years of financial and strategic planning experience, having previously served as Treasurer and Director of Corporate Accounting for Landmark Communications, Inc., and will now serve as Affordable Upstate’s fractional Chief Financial Officer.