reAlpha appoints Aldecoa as president

US: AI-powered real estate technology and investment company, reAlpha, has announced the appointment of real estate investor and operator, Jorge Aldecoa, as president of reAlpha Asset Management.

The strategic hire will strengthen reAlpha’s executive leadership team as the company looks to accelerate its investment activity.

Aldecoa brings more than 15 years of experience scaling and operating sizeable residential real estate platforms.

Over the course of his career, he has held senior positions at leading real estate investment companies where he helped build and effectively manage multi-billion-dollar portfolios. At reAlpha, Aldecoa will utilise his expertise and relationships to advance the company’s strategy of acquiring high-quality, well-located experiential and rent-ready short-term rental properties.

reAlpha CEO Giri Devanur said: “Jorge is a highly accomplished executive who brings a wealth of relevant experience that will contribute meaningfully to our growth initiatives and long-term success. As a forward-thinker with a track record of value creation, Jorge’s leadership, knowledge and diverse skillset will help us prudently deploy capital and enhance our operating capabilities.

“We look forward to benefiting from these added capabilities as our pipeline of investment opportunities continues to expand,” he added.

Prior to joining reAlpha, Aldecoa served as vice president of operations for Transcendent Electra and managing broker of Transcendent Electra Realty & BUSB Realty. In those roles, he led the creation and implementation of a property management platform to facilitate the acquisition and management of 2,200 newly constructed single-family rental homes.

He has also held the positions of chief investment officer and interim COO at Firm Capital American Realty Partners, as well as regional vice president at Invitation Homes, where he led the property management of a $1 billion portfolio.

Aldecoa said: “I’ve admired the work being done by reAlpha to democratise the short-term rental economy. The company’s talent, differentiated value proposition and proprietary technology position it to be a leader in this rapidly growing space, and I couldn’t be more excited to help positively influence the company’s trajectory.

“With a clear plan and the right team in place, reAlpha is poised to accomplish great things,” he added.

Ohio-based reAlpha is seeking to build a digital real estate investing platform that enables its members to simplify wealth creation opportunities through investments in vacation homes while striving to deliver exceptional guest experiences. Its goal is to empower everyone with the ability to invest in a global short-term rental market that is estimated to be worth $1.2 trillion.

Last year, the firm said that it was raising up to $75 million in a public offering under Regulation A+ of Title IV of the JOBS Act, after announcing that it was planning to spend up to $1.5 billion, including debt, to acquire a portfolio of  around 5000 short-term rental homes in US cities such as Austin, Dallas and Miami.