Pennybacker Capital Management, LLC, a real estate-focused private equity firm managing $3.2 billion of investments, announced the appointment of two new senior executives within its credit group.

The appointments by the Austin, Texas-based firm include Steven Parrinello as managing director and Sydney Mas as vice president.

Parrinello came to Pennybacker from Guggenheim Commercial Real Estate Finance, where he originated and closed more than $1.8 billion of senior, mezzanine, and construction loans. Mas joined Pennybacker from WeWork, where she focused on enterprise clients as part of the portfolio optimization and asset management team. She and Parrinello previously worked together at Guggenheim.

"Steven and Sydney bring extensive commercial real estate finance experience to the firm," said Tim Berry, Pennybacker's CEO. "Adding professionals of their caliber will further our credit team's origination and structuring capabilities, help us reach more plan sponsors, and capitalize on attractive high yield opportunities."

Parrinello has over 15 years of experience in the commercial real estate debt market. At Pennybacker, he is responsible for developing and expanding the firm's high-yield commercial real estate credit business. Before Guggenheim, he was head of originations at Hudson Realty Capital and earlier served in a senior role at CapitalSource Finance. He received a bachelor's degree in business administration from Pace University and a master's degree in real estate finance and development from New York University.

Mas is responsible for underwriting, structuring, executing, and managing Pennybacker's credit investments. Before WeWork, she was at Guggenheim Commercial Real Estate Finance, where she helped originate, underwrite, and analyze more than $1.2 billion in commercial mortgage loans. Mas received a bachelor's degree in business administration from the University of Vermont.

About Pennybacker Capital

Pennybacker Capital is an alternative investment manager focused on real estate private equity and credit investments. Pennybacker employs an innovative, data-driven, and collaborative approach to identify and execute compelling real estate investment opportunities that aim to deliver consistent risk-adjusted returns and improve the lives of teachers, tenants, and teams.

Pennybacker pursues value, credit, and income and growth strategies across all real estate asset classes and has a proven 12-year investment track record of investing in and/or operating more than $3.2 billion of real estate value throughout the United States. To date, the firm has sponsored six discretionary value-add real estate private equity funds, two real estate credit funds, and four income and growth separate accounts. Pennybacker has its headquarters in Austin and offices in Denver, New York, and Nashville. www.pennybackercap.com.