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Thursday, June 21, 2018

Breaking Ground Welcomes New Board Member

At Breaking Ground, we continue to grow our portfolio of supportive and affordable housing that is home to vulnerable New Yorkers from all walks of life. And as we approach nearly 30 years of service to New York City, we are always evolving. Today, we were proud to announce the appointment of Kara McShane, Managing Director – Head of Commercial Real Estate Capital Markets and Finance at Wells Fargo, to our board of directors.

“As a resident of New York City for the last 24 years, I have witnessed first-hand the epidemic of homelessness, and it is truly heartbreaking. I am both honored and excited to join the board of Breaking Ground because I know this organization makes a difference, and I want to do whatever I can to help.”
Kara McShane

“Breaking Ground has an ambitious development pipeline to house thousands of New Yorkers over the next several years, and we are excited to have Kara join us in this important effort. Her leadership, strong relationships, and industry experience will help us tackle New York’s homeless crisis head-on,” said Michael Franco, Chair of Breaking Ground’s Board of Directors and Executive Vice President and Chief Investment Officer of Vornado Realty Trust.

“Kara knows New York City real estate, and we are thrilled to bring her expertise to Breaking Ground’s Board of Directors,” said Brenda Rosen, President and CEO of Breaking Ground. “We are so grateful Kara has joined our dynamic team and shares our passion for providing exceptional affordable homes to our city’s most vulnerable.”


Kara McShane joined Wells Fargo in 2010 as Managing Director – Head of Commercial Real Estate Capital Markets and Finance and presently oversees the key commercial real estate business for the firm. Ms. McShane began her career with Sanford Bernstein & Co., eventually becoming a partner in the firm. She joined Morgan Stanley in 2002, becoming Managing Director of the Securitized Products Group and Commercial Real Estate Capital Markets Division. In 2017, she was recognized with a New York Business Journal Women of Influence award. In addition, Ms. McShane is frequently listed among the Top 50 Most Important Figures of Commercial Real Estate Finance by Commercial Observer and was recently named to the #1 spot on the Power 50 list, becoming the first woman to achieve this milestone. Ms. McShane received her undergraduate degree from Duke University, and holds an MBA from the Columbia Business School.

Welcome, Kara!

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