Key Employees

Valerie A. Silva

Human Resources Manager

Valerie Silva joined USA Properties Fund in June 2009 as Human Resources Manager.  In this position, Ms. Silva oversees all Human Resources functions for the organization, such as organization development, employee recruiting, retention, development and training, employee relations, compensation administration, legal and regulatory compliance and policy development and documentation.

Ms. Silva’s over 19 years of professional human resources experience includes serving as a Corporate Vice President of Human Resources for both a national mortgage banking organization and a regional third-party workers’ compensation administration and benefits broker organization.

Ms. Silva earned her Bachelor of Science Degree in Business Administration from California State University Fresno, holds a Professional in Human Resources Certification and is a member of the Society of Human Resources Management.

John Caampued
Information Technology Manager

John Caampued joined USA Properties Fund in 2009 as Information Technology Manager. In

this position, Mr. Caampued oversees all Information technology functions for the organization. 

Mr. Caampued’s role is to strategically achieve business goals by fostering innovation, prioritizing

IT initiatives, and coordinating the evaluation, deployment, and management of current and future

IT systems across the organization.

Mr. Caampued has been involved in the IT industry for over 18 years with 11 years in

management.  His professional experience includes overseeing the Information Technology

department for the U.S. division of a global technology company.  Mr. Caampued holds a

Bachelor of Science degree in Statistics from the University of California, Berkeley. 

Royce Sanders
Development Director

Royce Sanders joined USA Properties Fund in February 1997, with a focus on Tax Credit and Tax Exempt Bond financing applications. She progressed into Development Management in 2002, and in 2005 was promoted to her current position. Ms. Sanders also serves on the company board as an Assistant Vice President.

Ms. Sanders’ real estate industry background includes acquisition, development, management, and real estate appraisal. These experiences have resulted in her well-developed understanding of the issues that contribute to a project’s successful implementation from both the building and financing perspectives.

Larry McElwain
Architectural Development Manager

Larry McElwain joined USA Properties Fund in 2007 as the Architectural Development Manager. In his position, Mr. McElwain works together with the development team to manage and coordinate the day to day operations with consultant teams for all new development projects, in the areas of architectural planning, design and document services for USA’s new multifamily projects. Mr. McElwain stays in contact with projects as they move from development to construction, working with USA’s Construction Division, project management and field supervisors, and coordinating with project consultants to ensure smooth transitions and satisfactory project completion.  

Mr. McElwain has over 15 years experience in the new home, commercial, and agricultural construction industries, working with several top residential development and homebuilding companies. His expertise includes product design, procurement, operations management, design studio consulting and construction, as well as scope and specification documentation.

Stacie Altmann
Assistant Vice President Project Finance
Project Acquisitions & Finance Group

Stacie Altmann joined USA Properties Fund in 2003, and is now its Director of Finance. In this position, Ms. Altmann oversees all financing activities for the firm, such as equity and debt placements, as well as closings, which include predevelopment funding, local subsidies, construction loans, permanent loans and sale of affordable housing tax credits.

Ms. Altmann has been professionally engaged in the financial and real estate industries since 1996. During her tenure here, she has managed the financing of over 1,650 apartment homes totaling over $230,000,000 in funding sources. Prior to joining USA, she worked in the financial securities industry as a licensed stockbroker and investment banking analyst.

Ms. Altmann holds a Bachelor of Science Degree in Finance from the University of Tennessee, Knoxville.

Keith Johnson
Construction Management Controller

Keith Johnson joined USA Properties Fund in 2005 as Construction Management Controller. In this position, Mr. Johnson manages the accounting and reporting functions of construction projects from the start of building to the receipt of final capital. 

Mr. Johnson’s professional experience includes serving as an auditor of Burnett, Umphress and Kilgore, as a Supervisor in the Fund Accounting Department of Franklin Resources, Inc and most recently as a Project Controller for Panatonni Development Company, Inc.

Mr. Johnson earned a Bachelor of Science degree in Business Administration and Accounting from the University of San Francisco. He is also a Certified Public Accountant (1994) and a Licensed Real Estate Broker.

David Farquhar
General Superintendent

David Farquhar became a member of the USA Properties Fund, Inc. team in 1993 and serves as its General Superintendent. Mr. Farquhar currently manages a field staff consisting of project superintendents, assistants and labor and has provided on-site supervision of several projects. His responsibilities include the management of the field staff, maintenance of the company safety program, project scheduling and warranty.

In his position, Mr. Farquhar serves as the liaison between construction and design, providing practical, "what works" knowledge to the design team. He finishes projects on time and to the expectations of the owner. Additionally, he has been directly involved in the construction of over 7500 units, making his technical knowledge of current properties unsurpassed within the company. Mr. Farquhar’s dedication, experience, and continued efforts are directly related to the success of construction projects.

Mr. Farquhar began his career working through the construction trades as a carpenter. He has been involved in the construction industry for 30 years, with over 18 years in the construction management of single- and multi-family projects and maintains an active contractor’s license in the State of California. 

Rob Romero
Project Manager

Robert Romero joined USA Properties Fund in 2001 as an Estimator. In his current position, Mr. Romero’s responsibilities include the development of construction budgets at three stages; conceptual, development, and construction.  He is also responsible for the creation and maintenance of a construction unit cost database and a historical project database; both of which are used to develop estimates. Since his promotion to Project Manager in 2005, Mr. Romero has overseen the construction of Avian Glen Apartments, Vallejo and Vintage at Natomas Field, Sacramento.

Mr. Romero’s career in construction has provided experience on a wide variety of projects ranging from industrial, commercial, multifamily, and high-rise. Distinguishing projects include: The United States Federal Courthouse, Sacramento, and The Chabot Observatory and Science Center, Oakland.

Mr. Romero graduated in 1992 with a Bachelor of Science degree in Civil Engineering from California Polytechnic State University, San Luis Obispo. In 1997, Mr. Romero completed the Extended Education Program in Construction Management at California State University, Hayward.

Santiago del Rio
Project Manager

Santiago del Rio joined USA Properties Fund as a Project Manager in 2006. In this position, Mr. del Rio’s responsibilities include conceptual estimating, development and management of construction and renovation scopes and budgets, project management, and field supervision. He also provides assistance with planning efforts on new development projects. Since joining USA, Mr. del Rio has overseen the construction and/or renovation of approximately 800 units.

Mr. del Rio’s varied career experience in development, architecture, construction, and property management has provided him the opportunity to work on many projects ranging from design, layout, and construction field oversight of industrial and manufacturing facilities; designing of commercial and retail spaces; construction management of multifamily projects; management of multifamily real estate developments; regional management of renovations and maintenance operations of 3000 units for a multifamily real estate development and management company.

Mr. del Rio del Rio graduated from California Polytechnic State University, San Luis Obispo, with a Bachelor of Architecture and a Master in Business Administration. He is also a licensed general contractor in California and a member of the Urban Land Institute and the North State BIA.

Denise Webster
Manager of Special Projects

Denise Webster joined USA Construction Management in 2005 as an Assistant Project Manager. In 2007, Ms. Webster earned a Certificate in Construction Management from UC Davis and was promoted to Project Manager in 2008. In her current position, she is responsible for bid management, budget analysis, contract negotiations, submittal review, and field support. Her varied professional experience includes aerial and underground fiber optic infrastructure construction, business analysis for financial institutions, and IT project management.

During her time with USA Construction Management, Ms.Webster led the effort to develop a department Policy and Procedures Manual, which created standards in the performance of departmental tasks. She also successfully implemented USA Construction Management’s Capital Improvement program, which provides maintenance and improvement support to the USA Multifamily Management division. Accordingly, Ms. Webster’s responsibilities include the planning, direction, coordination and supervision of all improvement projects across the portfolio of 60+ multifamily communities throughout California and Nevada. Her dedication and support has been integral in the construction of over 700 affordable housing units in California, and has improved time operation and revenue growth for USA Construction Management.

Kimberly Tenold
Vice President of Property Administration

Ms. Tenold began her career with USA Properties Fund in 1998 as a Compliance Auditor for USA Multifamily Management, Inc.  After sixteen years of property management experience at the Rural Development Agency, Housing and Urban Development, and in market-rate properties, Ms. Tenold earned her Housing Credit Certified Professional designation in 2002. She was promoted to Regional Property Supervisor and then moved into the role of Manager of the Compliance and Training Departments before attaining her current position, in which she oversees the Accounting and Compliance Departments.

Ms. Tenold also serves on the Board of Directors for the Rental Housing Association in Sacramento, California.

Victoria Critchfield
Senior Regional Manager

Victoria Critchfield joined USA Properties Fund in January 2008 as a Regional Property Supervisor for USA Multifamily Management, Inc overseeing a portfolio of 9 communities within the Sacramento & East Bay areas totaling 1207 units.  In January 2010 Ms. Critchfield was promoted to the position of Senior Regional Manager.  In this role she is responsible for overseeing daily operations, budgets, marketing, performance and team leadership of 25 Communities totaling 3239 units throughout California. 

Ms. Critchfield brings to her position a wealth of knowledge and experience learned hands on in the property management industry.  She began her career as a Leasing Associate with G.W. Williams Co where over the next 16 years she diligently worked to gain knowledge and experience the industry advancing to the position of Regional Manager with oversight of 9 conventional market rate communities.

Mark Schiferl

Senior Regional Manager

Mark Schiferl joined USA Multifamily Management, Inc. in 2009 as a Regional Property Supervisor and was promoted to Senior Regional Manager in January 2010. In this role, he oversees a portfolio of 20 properties in Northern and Southern California totaling 3,000 units. Mr. Schiferl brings knowledge of a wide variety of housing information; having worked for Public Housing Authorities, Redevelopment Agencies and Non Profit organizations committed to building and maintaining affordable housing.

Mr. Schiferl earned a degree from the University of Wisconsin with a degree in Business Administration, with a focus in marketing, management and is currently enrolled in the Strategic Leadership MBA program at Dominican University of California. He has also earned the Eagle Scout Award from The Boy Scouts of America.  Mr. Schiferl holds the Public Housing Manager (PHM), Senior Public Housing Manager (SPHM) certifications from the National Association of Housing and Redevelopment Officials (NAHRO), Certified Professional of Occupancy (CPO)  designation from Affordable Housing Management Association (AHMA), Tax Credit Specialist (TCS) certification from the National Center for Housing Management and is an active member of the Institute of Real Estate Management (IREM).