Cortland Hires Jan LaChapelle From Vornado to Lead Multifamily Debt Capital Markets
Multifamily investor Cortland has hired Jan LaChapelle from Vornado Realty Trust to lead its debt capital markets business. LaChapelle joins as executive vice president, head of debt capital markets, and will oversee all asset- and fund-level financing from Cortland's Atlanta headquarters.
LaChapelle will report to Jason Kern, Cortland's president of investment management. Her team will be responsible for debt placement across Cortland's U.S. portfolio and fund vehicles, including hedging and cost-of-capital decisions.
A Strategic Hire Amid Debt Market Volatility
Cortland framed the appointment as a direct response to turbulent financing conditions. "Recent and ongoing volatility in the debt capital markets has only further highlighted the strategic importance of being as nimble and as creative as possible in the debt financing and hedging decisions that Cortland makes on behalf of our investors," Kern said in a statement. "We therefore couldn't be more excited to be adding Jan's incredible depth of capital markets knowledge and industry relationships."
Kern added that LaChapelle will "be a phenomenal cultural fit" within a team that includes George Smith, Cortland's debt capital markets manager.
LaChapelle expressed enthusiasm for the move. "I am excited to join this top-tier multifamily platform with tremendous growth potential and a talented team," she said in a statement.
LaChapelle's Background at Vornado and Wells Fargo
At Vornado Realty Trust, LaChapelle served as executive vice president, head of capital markets, where she oversaw secured financings, unsecured debt issuances, preferred and common equity issuances, and the REIT's relationships with lenders and credit rating agencies.
Prior to Vornado, LaChapelle was a senior vice president in capital markets at Wells Fargo. Earlier in her career, she worked as a senior financial analyst at CBS MarketWatch.
LaChapelle holds a bachelor's degree in economics from the University of Virginia and a Master of Business Administration from New York University's Stern School of Business.
Cortland's Expanding Multifamily Portfolio
Cortland describes itself as a vertically integrated multifamily investment, development, and management company, with in-house construction, design, and property management capabilities. As of mid-2026, the firm reports approximately 73,700 multifamily units across 24 U.S. markets, with more than 200 apartment communities and nearly 80,000 homes managed or invested in directly or indirectly.
The firm has executed a series of large portfolio transactions in recent years. In 2019, Cortland completed a $1.2 billion all-cash acquisition of Pure Multi-Family REIT, adding 7,085 units across 22 properties in Texas and Phoenix. In 2022, the firm acquired a 1,700-unit portfolio spanning seven states. More recently, Cortland acquired 19 multifamily properties from Elme Communities in metro Atlanta and the Washington, D.C./Northern Virginia area — totaling nearly 6,000 units — in an all-cash transaction valued at $1.6 billion. LaSalle Investment Management subsequently committed $250 million as co-investment equity into that portfolio, representing approximately 34% of the equity, with Cortland operating and managing the assets.
Kern, who previously served as CEO of LaSalle Investment Management's Americas division overseeing $24 billion of assets under management, was appointed to the president of investment management role in early 2022 to support Cortland's continued domestic and international growth. His remit includes investments, capital markets, corporate finance, investor relations, tax, and accounting.
Market Context
The appointment comes as multifamily operators across the industry have faced elevated borrowing costs and tighter credit conditions, placing greater emphasis on sophisticated debt structuring and lender relationships. For a privately held firm managing a portfolio of Cortland's size and complexity, bringing in an executive with experience managing the capital stack of a publicly traded REIT — including rated debt, preferred equity, and agency relationships — reflects an effort to apply institutional-grade discipline to its financing operations.