Diversified Properties taps former Arete Management exec Matarazzo as chief financial officer

Commercial real estate developer Diversified Properties on Wednesday said it hired Peter Matarazzo as its new chief financial officer.

In his new role, Matarazzo will work closely with the Montville-based firm’s executive team to streamline its operations and finance departments through the addition of new operational workflow efficiencies, the restructuring of manual processes and improving the adoption of the latest real estate and business technologies.

Prior to joining Diversified Properties, Matarazzo served as chief financial officer and controller with Arete Management, a New York City-based developer of low-income and affordable housing with a portfolio of 18 Low-Income Housing Tax Credit buildings in New York City and over 80 affordable housing, commercial and mixed-use properties in Hudson, New York.

“Peter’s previous work with Arete Management exemplifies his attention to detail and his ability to drive financial success at multifaceted and fast-moving organizations,” Diversified Properties Founding and Managing Partner Nicholas Minoia said. “We are excited to welcome Peter to the team and look forward to working with him to continue to execute our real estate investment strategy in the years to come.”

“From the moment I had my first conversation with the executive team at Diversified Properties, it was clear that they have the vision and creativity needed to succeed in today’s commercial real estate industry. I am honored to join one of the real estate industry’s most experienced executive teams and help them build upon their decades of success,” Matarazzo added.