TDA Team

The TDA Investment Group team has a deep understanding of investment management, plan administration, fiduciary responsibility, and regulatory constraints. The successful implementation of long-term and innovative thinking has resulted in consistent benefits to its clients.

Investment Committee Members:

Garry Spanner
Byron Fox
Jane Maushardt
Steven Janda

Garry Spanner

President and Chief Executive Officer

Mr. Spanner is the owner of TDA Investment Group. He has a very broad range of experience in construction, leasing, acquisitions, dispositions and property management. Mr. Spanner has successfully worked in most phases of real estate and construction and brings a valuable scope of expertise to the company, and under his leadership, TDA has established itself as one of the finest real estate management firms within its sphere of expertise. Mr. Spanner is also a member of the company's investment committee.

Prior to joining TDA Investment Group in 1994, Mr. Spanner was responsible for the acquisitions and leasing for a brokerage firm. Prior to that, he worked in the construction industry and has been a private real estate investor since 1982.

Mr. Spanner is responsible for the overall company philosophy and operations, and his main responsibilities with regards to the real estate portfolio are the oversight of asset management and investment policies. His duties include analyzing and evaluating real estate and financial markets, as well as advising on deal structures and strategic investing.

Mr. Spanner is a member of the U.S. Green Building Council, Social Venture Network, Pension Real Estate Association, and National Association of Real Estate Investment Managers.

Rob Perkins

Executive Vice President

Mr. Perkins leads TDA’s new investment activities. He has a diverse investment background encompassing principal roles executing commercial, industrial and residential real estate and corporate transactions from $1MM to $1b in size, and involving both domestic and international geographies.

Additional experience includes creating and structuring partnership joint ventures to capture opportunities in underserved market segments, specifically brownfields and environmentally impaired transactions. Mr. Perkins began his career at Koch Industries, the largest privately held firm in the US ($80b revenues), participating in real estate, corporate and structured finance investments.

Additional roles have included investment and portfolio management responsibilities at private equity firms, merchant banking groups and commercial finance companies. Mr. Perkins received a BS from Penn State and an MBA from Texas A&M University.

Victor Kwok

Chief Financial Officer

Mr. Kwok has over 25 years of real estate accounting, finance, and funds experience. As the CFO he directs the strategic financial planning, budgeting, audit, accounting, internal controls, tax, investor reporting, and treasury functions for the Company and its real estate funds.

Mr. Kwok was the CFO at Rubicon Point Partners in San Francisco, a value-add office buildings investor and operator in the San Francisco Bay Area. The company managed third-party capital from public pension funds, foundations, and high net-worth investors. Prior to Rubicon, Mr. Kwok was the CFO and Chief Compliance Officer at Fremont Realty Capital in San Francisco, a Bechtel family owned investment firm and real estate funds sponsor. During his sixteen years at Fremont, the Company had invested over $3.5 billion on behalf of institutional, private and public pension funds, foundations, and endowments investors in real estate properties and real estate operating companies. Before Fremont, Mr. Kwok was the Controller at the Castle Group, a leading California multi-family residential real estate developer and builder in the South Bay Area.

Mr. Kwok started his career in public accounting and was a senior manager with the international accounting firm of Laventhol and Horwath. Victor graduated from the Haas School of Business at the University of California at Berkeley and is a CPA and CGMA.

Paula Purcell

Asset Manager

Ms. Purcell is responsible for the oversight and management of TDA’s assets under management. Prior to joining TDA, Ms. Purcell was responsible for a wide range of real estate management activities with Bermant Development Company Santa Barbara Bank & Trust, where the portfolio included retail, commercial, industrial, residential and agricultural holdings valued at approximately $100 million dollars. Ms. Purcell was also owner/manager of a property management firm that specialized in historic commercial buildings in the Capital Hill district of Denver, Colorado.

Ms. Purcell attended Southern Oregon University, and has held licenses in real estate in both California and Colorado. She had served on the Board of Directors for the Goleta Chamber of Commerce and has been active in numerous charitable organizations.

Erik St. Charles

Chief Compliance Officer

Erik oversees compliance, legal affairs and corporate governance of TDA, and ensures compliance with SEC and DOL rules and regulations. Additionally, he assists the investments team to complete transactions and due diligence new investments. He worked for a number of years as a paralegal at Kirkland and Ellis, LLP, executing private equity M&A and fund formation transactions. In the private funds group, he completed and participated in the formation of more than $6bn in private funds. Most recently, he was with Veritas Investments in San Francisco, CA, managing compliance for $1.3bn of mixed-use multifamily assets. Erik holds a Bachelor of Arts in Philosophy from University of California, Berkeley.

Alan Ng


Alan joined TDA’s accounting group in March 2014. He works primarily on internal and external reporting, analyses on real estate debt and equity investments, and is involved in the full accounting cycle. He has 12 years of real estate accounting and financial reporting experience in commercial, hotel, and mixed-use development projects, including 7 years at Stockbridge Capital Group performing Fund Accounting for two opportunistic funds totaled $1.5 billion. Alan holds a Bachelor of Arts in Economics from University of California, Los Angeles.

Byron Fox

Investment Officer

Prior to joining TDA Investment Group in 1999, Mr. Fox served as Executive Vice President for Acquisitions for BRE Properties, one of the largest multi-family REITs in the United States. BRE has a portfolio of 25,000 apartments units in 12 major western markets and a total capitalization of $1.8 billion. During his tenure, Mr. Fox was responsible for the acquisition of over $800 million of new assets.

Before moving to BRE in 1989, he was Vice President and General Manager for two Hawaii-based land holding and development companies, Dillingham Investment Corporation and The Magoon Estate Limited. Mr. Fox is a graduate of Colgate University and the Harvard Business School.

Steven Janda

Investment Officer

Mr. Janda has over 39 years of banking experience of which 29 years have been involved in commercial real estate lending and over 20 years of managing different real estate lending units. Prior to his involvement in commercial lending he has over 5 years of experience in location planning which included new and existing branch studies, long term forward branch planning for Southern California and negotiating land purchases and branch leases for new and existing branches for Bank of America.

Mr. Janda received a BS degree in Marketing from California State University of Los Angeles and his MBA in Business Administration from Peppperdine University. He is a past board member of the Baldy View Chapter of the Building Industrial Association and a founding member of Home Aid, a nonprofit corporation that help different communities in building low income housing.

TDA Team
  • Garry Spanner
  • Rob Perkins
  • Victor Kwok
  • Paula Purcell
  • Erik St. Charles
  • Alan Ng
  • Byron Fox
  • Steven Janda