Building exceptional places for people to live and work is a value that has defined the professional and personal career of Walter M. Embrey, Jr.

In his junior year at the University of Texas (UT), Walter made a pivotal decision that launched his career in real estate at age 20, taking a part-time job with one of Austin’s largest homebuilders. There, he learned all aspects of homebuilding and land development. That led him to his next job as CEO of an Austin-based multifamily company where, as partner, he led development of more than 6,000 units in the Texas market.

In 1974, Walter returned to his hometown in San Antonio with his family and started EMBREY, working with a core team of partners to create what is today a nationally recognized, vertically integrated real estate investment company. In 2024, the company celebrates its 50th anniversary with more than 50,000 residential apartment homes and 6 million square feet of office, industrial and retail space across 11 states and more than 30 cities. In all, EMBREY has served as developer, contractor, manager, acting owner and general partner for more than 50 million square feet of places designed for people to live and work. EMBREY projects have consistently been recognized for design, attention to detail, quality and tasteful integration into surrounding communities.

Hallmarks of Walter’s career include hiring and providing opportunity for great people to achieve their highest professional experiences and philanthropic investment in building communities and encouraging the next generation of real estate industry leaders.

His donation to the University of Texas – San Antonio (UTSA) was the catalyst for the EMBREY Real Estate Finance and Development graduate school program. He served as Founding Member and Co-Chairman of the Real Estate Finance Center at the UT Austin McCombs School of Business and was a member of the Advisory Board for the UT Austin School of Architecture. He was a Founding Member and President for the Real Estate Council of San Antonio (RECSA) and was a Board Member of the National Multifamily Housing Council.

Among his many community commitments are: more than a decade of service as chairman of the facilities committee, and member on the Board of Trustees for the Witte Museum, and the Texas Biomedical Research Institute; currently serves as the chairman of the Alamo Building Committee, advising on their $600 million renovation and expansion of the historic Alamo.

In 2022, Walter was inducted into the San Antonio Business Hall of Fame by Junior Achievement. He has been recognized as San Antonio’s Entrepreneur of the Year and has been a recipient of the RECSA Philip M. Barshop Founder’s Award for excellence and leadership in the real estate industry.

Walter’s passion outside of real estate is his family. His son, Trey Embrey, currently serves as President & CEO of EMBREY. His daughter, Stacey (Embrey) Rubin, Ph.D., is a psychotherapist and in addition to her practice, has created four healthcare companies with her husband. Daughter Lisa (Embrey) Nichols is a custom home builder and founder of her own business. Walter enjoys the activities and accomplishments of his seven grandchildren, and in his spare time, enjoys many outdoor activities and travel with his family.

In his executive leadership role, Trey is responsible for all aspects of corporate and divisional strategy and performance for the company that bears his family name. He leads the company’s Executive Committee and Investments Committee and is a member of a variety of additional governance teams. Trey takes an active role in building and maintaining strong relationships with institutional and private investors, community partners and in building high-performance internal teams.

Trey first joined EMBREY in 1992 and in 2000 launched his own successful apartment redevelopment enterprise. He rejoined EMBREY in 2010 as Executive Vice President of Operations and was named President & CEO in 2017.

Hallmarks of Trey’s leadership as the company’s top executive include strategic market expansion that today includes Texas, Arizona, Colorado, Tennessee, North Carolina and Florida; significant growth of EMBREY’s multimillion dollar asset portfolio; widening participation for investors; and building efficiency and effectiveness in operations through streamlined processes and the assembly of one of the best teams in the business.

In 2018, Trey was recognized as a C-suite Award winner by the San Antonio Business Journal. He most recently received their 2025 Top Texas 100 award. This award honors influential business and civic leaders whose vision and leadership are shaping the economic and cultural future of San Antonio and the South Texas region.

He is a member and donor for the Founders Council of the University of Texas at San Antonio’s EMBREY Real Estate Finance & Development Program and the University of Texas at Austin, supporting education for the next generation of industry leaders. Professional affiliations include the Urban Land Institute – San Antonio; the Real Estate Council of San Antonio; the National Multifamily Housing Council; and the National Apartment Association.

He supports community organizations such as the United Way; Habitat for Humanity, the San Antonio Food Bank: KIPP Texas-San Antonio; SAMMinistries; and the Texas Cavaliers Charitable Foundation.

Trey earned his Bachelor of Arts degree in economics from the University of Texas at Austin.

Jimmy McCloskey leads EMBREY’s development pipeline in multiple Western markets, including Phoenix, AZ, Denver, CO, and Salt Lake City, UT, as well as San Antonio and Austin. To date, he has participated in developing more than 8,000 multifamily units from project inception through disposition.

Jimmy joined EMBREY as Vice President of Development and was later named Executive Vice President of Development before assuming his current role. Previously, he was project manager for Colonial Properties Trust, Austin, where he managed all construction activities for the company’s capital improvement projects in the Western region.

He holds a Master of Science in Real Estate Development, Johns Hopkins University Carey Business School, and a Bachelor of Science in Construction Management, Utah Valley University.

Garrett Karam leads all investment and capital markets activity for EMBREY, including growing the company’s funds and acquisitions platforms. Since joining EMBREY, Garrett has secured nearly $3 billion in capital for more than 40 developments and has presided over $2 billion in asset sales. He is integral to setting the strategic direction of the company and maximizing return on investment for both EMBREY and its investors.

Garrett was previously Vice President of Capital Markets for The Hanover Company in Houston, Texas where he helped source nearly $3 billion in capital for multifamily projects, leading to the development of over 9,000 units nationwide. His experience also includes roles as project manager and analyst for Southeast Venture, a real estate development firm in Nashville, Tennessee.

He holds a Master of Science in Real Estate Development from Columbia University, New York, and Bachelor of Business Administration from the University of Texas at Austin.

Rod Riordan, Chief Financial Officer, oversees corporate finance, accounting, planning and forecasting, human resources, risk management, technology, and provides internal and partner reporting for the organization.

Rod joined EMBREY from JPI, where he served as Executive Vice President and Finance Partner. His background also includes experience with Belo Corp. in the Corporate Finance group and with PricewaterhouseCoopers in the Financial Advisory Services practice.

Rod holds a Master of Business Administration from The Cox School of Business, Southern Methodist University, Dallas, and a Bachelor of Business Administration – Finance, University of Texas at Austin.

Helena Finely is a seasoned multifamily executive with more than 25 years of experience in development and construction. She leads EMBREY’s construction division and has oversight for all residential and commercial building in the company’s portfolio.

Before joining EMBREY she was on the founding leadership team of Vero Sade, which develops, builds and operates Class-A residential real estate. Previous experience includes leading multifamily construction for Morgan Group Development, Trammel Crow, Gables and Post Properties. Her portfolio includes construction of 29 multifamily and mixed-use projects with more than 6,800 units and combined budgets of more than $830 million.
Helena was recruited from South Africa on a full swimming scholarship to the University of Houston, where she earned her Bachelor of Science degree. She has competed in many ultra-distance events including the Colorado River 100-mile kayak race, the Leadville 100-mile mountain bike race, Ironman Texas, and a variety of adventure races, triathlons and marathons.

She and her husband, David, have three children and four grandchildren.

Allyson McKay leads all owned and third-party assets of the EMBREY Management Services division with a focus on enhancing value through timely lease-up, efficient management of long-term holds, and growth of third-party management contracts.

Prior to joining EMBREY, Allyson was Senior Vice President – Southwest Region for Lincoln Property Company. In this position, she oversaw approximately 45,000 multifamily units in Central Texas, Arizona, Colorado, and Southern California and supervised 500+ staff both on and offsite. Previously, Allyson was an Executive Director at Fort Sam Houston Family Housing LP in San Antonio, Texas, where she was responsible for defining business plans requiring multimillion-dollar capital enhancements.

Allyson, who attended Oklahoma State University, also is a Certified Property Manager® (CPM). She served as 2015 President of San Antonio Apartment Association and is a current board member and Legislative Committee member for the Texas Apartment Association. Allyson is also a member of the San Antonio and Austin Apartment Associations.

Jimmy McCloskey leads EMBREY’s development pipeline in multiple Western markets, including Phoenix, AZ, Denver, CO, and Salt Lake City, UT, as well as San Antonio and Austin. To date, he has participated in developing more than 8,000 multifamily units from project inception through disposition.

Jimmy joined EMBREY as Vice President of Development and was later named Executive Vice President of Development before assuming his current role. Previously, he was project manager for Colonial Properties Trust, Austin, where he managed all construction activities for the company’s capital improvement projects in the Western region.

He holds a Master of Science in Real Estate Development, Johns Hopkins University Carey Business School, and a Bachelor of Science in Construction Management, Utah Valley University.

Brad Knolle leads development efforts in EMBREY’s eastern markets which include Nashville, Charlotte, and Raleigh. Additionally, he has lead development teams on successful projects in Phoenix and Orlando. To date, he has been involved in the acquisition and development of over 7,000 multifamily units in six states for EMBREY.

Brad joined EMBREY in 2012 as Senior Vice President of Development and was named Executive Vice President of Development in 2018. Prior to joining EMBREY, he was Director of Acquisitions for The NRP Group’s Texas office where he was in charge of land acquisitions for NRP’s affordable housing program.

Brad holds a Master of Land Economics and Real Estate from Mays Business School, and a Bachelor of Science in Construction Science from the Langford School of Architecture at Texas A&M University, College Station.

Jacob Shalley leads development in the Denver, Phoenix and Austin markets. He ensures that the development vision for each project is defined, realized and consistently representative of EMBREY’s brand and history of excellence.

Prior to joining the EMBREY team, Jacob was a Project Manager on several major multifamily projects in Texas and California. His background includes work with Cameron International where he oversaw commercial and industrial developments around the world including projects throughout the Americas, Australia, Europe and the Middle East.

Jacob received his Bachelor of Science in Construction Science from Texas A&M University, College Station; he also holds Associate Constructor certification from the American Institute of Constructors (AIC) and is a LEED-accredited Professional through the U.S. Green Building Council (USGBC).

Suzanne White is responsible for management of the development process, including market analysis and demographic research, as well as oversight of contracts and budgets throughout the preliminary development and completion phases of each project.

Suzanne joined EMBREY in 1997 and her experience includes several high-profile projects such as EMBREY’s Quarry Village mixed-use project.

Suzanne holds a Bachelor of Business Arts in Marketing from Texas A&M University. She is a member of the Real Estate Council of San Antonio, the Downtown Alliance and San Antonio Livestock Exposition.

Andy Swadel leads development in the Florida market. He ensures that the development vision for each project is defined, realized and consistently representative of EMBREY’s brand and history of excellence.

Prior to joining EMBREY, Andy served as Vice President of Development at Madison Capital Group. His previous experience includes Director of Development for SC Advisors in Orlando; Senior Vice President for TowerPoint Capital in Atlanta; and Senior Associate for Investments at Carter in Atlanta. He served as development advisor to Dr. Phillips Charities for the planning, entitlement and initial land sales, including EMBREY’s Cannery project, of the 200-acre Packing District in Orlando, Florida.

He received his Master of Business Administration in Real Estate from J. Mack Robinson College of Business, Georgia State University, Atlanta, and Bachelor of Landscape Architecture, University of Georgia, Athens.

Chris Alvarado represents EMBREY through all phases of the development cycle from project identification, negotiations and planning, to design, build and closing in the Denver and Phoenix markets.

Chris first joined EMBREY as a Senior Project Engineer, moving on to Pre-Construction Manager, and then progressing within the development team to his current position. Previously, Chris served as project manager and estimator with JMEG, L.P.

Chris obtained his Bachelor of Science in Electrical Engineering from St. Mary’s University, San Antonio.

Joel Albea represents EMBREY throughout the development cycle, from project identification, negotiations and planning, to design, build and closing. He focuses on projects in the Charlotte, Nashville and Orlando markets.

Prior to serving as Vice President, Joel worked as a Development Manager and Senior Development Manager at EMBREY. He also is a licensed architect and came to EMBREY with a diverse and comprehensive career in architecture acquired as a Director and Associate Principal.

He received his Bachelor of Environmental Design and Master of Architecture from Texas A&M University, College Station, prior to completing his Master of Business Administration at the University of Texas McCombs School of Business, Austin.

As Vice President of Development, Brian Vita represents EMBREY throughout the development cycle, from project identification, negotiations and planning, to design, build and closing in the San Antonio and Dallas-Fort Worth Markets.

Brian first joined EMBREY as a Development Manager and was subsequently promoted to Senior Development Manager before assuming his current role. Prior to joining EMBREY, he served as development manager at Titan Development and Titan Development Real Estate Fund, San Antonio.

A graduate of the University of Texas at Austin, he received his Bachelor of Business Administration in Finance-Real Estate.

Garrett Karam leads all investment and capital markets activity for EMBREY, including growing the company’s funds and acquisitions platforms. Since joining EMBREY, Garrett has secured nearly $3 billion in capital for more than 40 developments and has presided over $2 billion in asset sales. He is integral to setting the strategic direction of the company and maximizing return on investment for both EMBREY and its investors.

Garrett was previously Vice President of Capital Markets for The Hanover Company in Houston, Texas where he helped source nearly $3 billion in capital for multifamily projects, leading to the development of over 9,000 units nationwide. His experience also includes roles as project manager and analyst for Southeast Venture, a real estate development firm in Nashville, Tennessee.

He holds a Master of Science in Real Estate Development from Columbia University, New York, and Bachelor of Business Administration from the University of Texas at Austin.

Helena Finely is a seasoned multifamily executive with more than 25 years of experience in development and construction. She leads EMBREY’s construction division and has oversight for all residential and commercial building in the company’s portfolio.

Before joining EMBREY she was on the founding leadership team of Vero Sade, which develops, builds and operates Class-A residential real estate. Previous experience includes leading multifamily construction for Morgan Group Development, Trammel Crow, Gables and Post Properties. Her portfolio includes construction of 29 multifamily and mixed-use projects with more than 6,800 units and combined budgets of more than $830 million.
Helena was recruited from South Africa on a full swimming scholarship to the University of Houston, where she earned her Bachelor of Science degree. She has competed in many ultra-distance events including the Colorado River 100-mile kayak race, the Leadville 100-mile mountain bike race, Ironman Texas, and a variety of adventure races, triathlons and marathons.

She and her husband, David, have three children and four grandchildren.

Allyson McKay leads all owned and third-party assets of the EMBREY Management Services division with a focus on enhancing value through timely lease-up, efficient management of long-term holds, and growth of third-party management contracts.

Prior to joining EMBREY, Allyson was Senior Vice President – Southwest Region for Lincoln Property Company. In this position, she oversaw approximately 45,000 multifamily units in Central Texas, Arizona, Colorado, and Southern California and supervised 500+ staff both on and offsite. Previously, Allyson was an Executive Director at Fort Sam Houston Family Housing LP in San Antonio, Texas, where she was responsible for defining business plans requiring multimillion-dollar capital enhancements.

Allyson, who attended Oklahoma State University, also is a Certified Property Manager® (CPM). She served as 2015 President of San Antonio Apartment Association and is a current board member and Legislative Committee member for the Texas Apartment Association. Allyson is also a member of the San Antonio and Austin Apartment Associations.

Rod Riordan, Chief Financial Officer, oversees corporate finance, accounting, planning and forecasting, human resources, risk management, technology, and provides internal and partner reporting for the organization.

Rod joined EMBREY from JPI, where he served as Executive Vice President and Finance Partner. His background also includes experience with Belo Corp. in the Corporate Finance group and with PricewaterhouseCoopers in the Financial Advisory Services practice.

Rod holds a Master of Business Administration from The Cox School of Business, Southern Methodist University, Dallas, and a Bachelor of Business Administration – Finance, University of Texas at Austin.