Los Angeles-based marketplace lender AssetAvenue has named a new chief executive.

Varun Pathria, who joined the firm earlier this year, is taking over as CEO, the company said in a press release Monday.

Former CEO David Manshoory, who is also a co-founder of AssetAvenue, will become the firm's president, the company said.

AssetAvenue, which began in December 2013, is one of numerous online platforms that are connecting real estate developers with investors. Pathria is a former senior vice president at Colony Capital, a private-equity firm that focuses on real estate.

[Coming this week: Marketplace Lending + Investing. Hear how participants in this fast-growth niche are using data and technology to propel lending into the 21st century.]

"His valuable combination of deep real estate knowledge, operating experience and capital markets expertise makes him best suited as CEO to take the company to the next level of growth," Manshoory said in the release.

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