Cadre Hires Madge Rumman to Lead the Next Generation of Cutting-Edge Product Development

As Head of Product, Rumman will report to Founder and CEO Ryan Williams, supporting efforts to build a more efficient, accessible, and groundbreaking investment interface

NEW YORK–(BUSINESS WIRE)–Cadre, the technology-driven commercial real estate investment platform, today announced the appointment of financial technology veteran Madge Rumman as Head of Product. Rumman will report directly to Founder and CEO Ryan Williams and lead the Product team, helping to build and accelerate the launch of new offerings that expand access to real estate for more investors.

Rumman joins Cadre with extensive experience building digital, consumer-oriented product offerings in financial technology. Prior to Cadre, she served as Director of Product at Affirm. She previously served as the Head of Product at a leading Canadian buy-now-pay-later (BNPL) provider, PayBright, which was acquired by Affirm in 2021. While at PayBright, Rumman focused on leading the product function, including launching e-commerce and in-store BNPL offerings, building a consumer app, and expanding the department to more than 20 professionals. Following Affirm’s acquisition of PayBright, she led the M&A integration efforts for the product stack and led product launches of key enterprise merchants, including the launch of the Apple partnership with Affirm in Canada.

Rumman’s appointment comes in the midst of Cadre’s momentous start to 2022. Her hire marks the third key leader to join the firm within the first half of the year, joining Head of Engineering Skand Gupta and Chief Marketing Officer Dustin Cohn. She also arrives on the heels of Cadre’s best quarter yet after the firm announced two significant realizations and strong subscriber growth, which helped the firm nearly reach the $5 billion total real estate transactions milestone in Q1.

Cadre’s world-class investments expertise and tech-forward approach have long propelled our growth, as demonstrated through evolution of our product pipeline and continued deal performance. Today, we are excited to maintain our course with Madge’s proven ability to improve and build compelling tech-forward products,” said Ryan Williams, Cadre Founder and CEO. “We couldn’t be more enthusiastic to welcome Madge to our team, and I look forward to working closely with her as we welcome more investors to our platform and continue to reimagine the future of real estate investing.”

At Cadre, Rumman will lead and continue to build out the Product team, which is known for innovative commercial real estate investment solutions that allow institutions and individuals to invest side by side in high-quality properties. Products like the Cadre Direct Access Fund and Deal-by-Deal offerings have allowed individual investors to access this traditionally opaque asset class with increasingly lower minimums and fees.

In just eight years, Cadre has made enormous progress in its mission to democratize access to commercial real estate. The Cadre platform has introduced a revolutionary interface that places the power of real estate investment directly into individuals’ hands,” Rumman said. “The challenge of leveraging technology to break down the walls of this historically inaccessible asset class is incredibly exciting, and I’m thrilled to join the team that is dedicated to this mission.”

About Cadre

Cadre is a groundbreaking technology-driven commercial real estate investment platform that offers both institutional and individual investors the opportunity to access expertly curated real estate assets with lower minimums, low fees, and unprecedented potential for liquidity. Via its data-driven and transparent approach, Cadre opens participation in a historically opaque and illiquid asset class.

Along with its traditional investment offerings, Cadre also provides investors with the ability to pursue highly vetted commercial real estate opportunities and the opportunity to seek liquidity through its proprietary secondary market, a unique offering within the industry.

Since Cadre’s founding, Cadre has closed more than $4.7 billion in real estate transactions across 24 U.S. markets. Cadre has exited nine investments with an 18.6% targeted realized average net IRR1 and in total has returned approximately $300 million of capital2 to Cadre investors to date. For additional information, please visit


Not Advice: This communication is not to be construed as investment, tax, or legal advice in relation to the relevant subject matter; investors must seek their own legal or other professional advice.

Performance Not Guaranteed: Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections are not guaranteed and may not reflect actual future performance.

Risk of Loss: All investments involve a high degree of risk and may result in partial or total loss of your investment.

Liquidity Not Guaranteed: Investments offered by Cadre are illiquid and there is never any guarantee that you will be able to exit your investments on the Secondary Market or at what price an exit (if any) will be achieved.

1 IRR calculation represents an equity-weighted average annualized internal rate of return (IRR) for realized real estate investments of offerings by Cadre since the formation of our Investment Committee through to the date of calculation, after deduction of fees and expenses. Equity multiple represents the investment multiple on equity, which is calculated by dividing the aggregate realized proceeds for the applicable investment after deduction of fees and expenses. For recently realized investments, an estimate of proceeds to vehicles managed by Cadre may be used. The use of a different methodology may result in a materially different return metric. Our realized investments consist of: (1) Astoria Portfolio, a 143-unit multifamily asset in Queens, NYC, acquired January 2015, with a realized net IRR of 16.2% and a net equity multiple of 1.4x, (2) Sugarloaf trails, a 268-unit multifamily asset in Suburban Atlanta, acquired April 2017, realized net IRR of 27.4% and net equity multiple of 1.8x, (3) Skyridge Apartments, a 364-unit multifamily asset in suburban Chicago, acquired November 2016, with a realized net IRR of 15.0% and net equity multiple of 1.4x, (4) Avida, 421-unit multifamily project, located in Salt Lake City UT, acquired August 2017, realized net IRR of 16.8% and realized net equity multiple of 1.4x, (5) Crestleigh Apartments, a 389-unit multifamily asset in Laurel, MD, acquired September 2016, with an updated target net IRR of 10.2% and a net equity multiple of 1.6x, (6) Trails Portfolio, two multifamily properties totaling 810 units in Houston, TX, acquired January 2018, with an updated target net IRR of 22.4% and a net equity multiple of 2.0x, (7) Solis at Winter Park, a 596-unit multifamily asset Winter Park, FL, acquired, September 2018, with an updated target net IRR of 18.1% and a net equity multiple of 1.7x, (8) Lodge at Copperfield, a 330-unit multifamily asset in Houston, TX, acquired November 2018, with a updated target net IRR of 21.8% and a net equity multiple of 1.9x and (9) Lincoln Place, a multifamily asset in Sacramento, CA, acquired July 2018, with a updated target net IRR of 22.0% and a net equity multiple of 1.9x.

2Aggregate capital to investors refers to the sum of any income distributions, sales gains, and return of capital without deduction for any investor specific withholding or contribution interest.


David Meadvin

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