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Pennybacker Capital adds managing director for distressed credit and special situations

David Stahl joined real estate firm Pennybacker Capital as a managing director, distressed credit and special situations, spokeswoman Joanna Barrett said. It is a new position.

"We anticipate a meaningful correction in real estate markets over the coming years, and Dave will bring considerable experience to the team in anticipation of potential distressed opportunities," said Timothy P. Berry, founder and CEO, in a news release.

Mr. Stahl was director of special assets at Hudson Advisors, which provides asset management and other support services for Lone Star Funds. Spokeswoman Christina Pretto declined to comment on a replacement for Mr. Stahl.