Metcalf Selected to Lead California’s HCD
Ben Metcalf, deputy assistant secretary in the Office of Multifamily Housing Programs at the Department of Housing and Urban Development (HUD), has been appointed director of the California Department of Housing and Community Development.
Prior to joining HUD in 2010, Metcalf was a project manager at BRIDGE Housing in San Francisco.
The appointment, which was announced by Gov. Jerry Brown at the end of November, requires state Senate confirmation.
Henderson Rejoins WNC
Kelly Henderson, a veteran of the affordable housing industry with 16 years of experience, has rejoined WNC as senior vice president of originations, responsible for the Northeast region. She previously spent nine years with WNC, from 2006 to early 2015, as senior vice president in acquisitions.
In her new role, Henderson is responsible for property acquisitions and closings in the Northeast, including Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont, as well as Washington, D.C. The company’s existing Northeast portfolio includes 136 affordable housing projects with 11,827 units that have a total development cost of approximately $771.2 million.
Henderson will play a significant role in providing service to WNC’s clients in the region as well as developing new relationships with developers.
Vesta Announces Promotions
Vesta Corp., a Weatogue, Conn.-based developer, owner, and manager of affordable housing, has announced changes to its leadership team.
Lewis Brown has been promoted to executive vice president. Since joining Vesta in 2005, Brown has developed an expertise in deal identification, feasibility analysis, development planning and implementation, and construction oversight. He is focused on growing Vesta’s portfolio with responsibilities that include identifying new opportunities, negotiating with sellers, and securing various sources of capital. Before joining Vesta, Brown served as assistant corporation counsel for the city of Boston.
Joshua Greenblatt has been promoted to executive vice president. Since joining Vesta in 1998, Greenblatt has been involved in all facets of the company’s operations, ranging from finance and development, to property operations and construction, to corporate oversight. He is tasked with growing the company’s portfolio of affordable properties. His responsibilities include identifying new opportunities, negotiating with sellers, and securing capital.
Chuck Moran has been promoted to executive vice president. With more than 35 years of property and asset management experience, Moran is responsible for overall direction of the property management function and performance of Vesta communities. During his career, he has overseen property management and asset management of portfolios of more than 12,000 apartments across multiple states and regions, for owners and operators, including Conifer Realty, The Community Builders, Claremont Corp., and Corcoran Management. Moran has extensive experience with both affordable and conventional apartments.
Candice Greenberg has been promoted to vice president. Greenberg joined Vesta in 2013, when she was named executive director of Lifelong Learning, the nonprofit agency that works closely with Vesta to combat systemic racial, socioeconomic, and other inequalities by providing on-site educational and supportive services to affordable housing residents. In 2013 she assumed the role of director of community services and, in 2014, a role in acquisitions and development for Vesta.
Steven Rice has been promoted to director of acquisitions and development. Rice has a background in financial modeling, acquisition analysis, accounting, and low-income housing tax credits. He joined Vesta in 2013 as a senior financial analyst from Corridor Ventures.
RUPCO Adds to Team
RUPCO, a Kingston, N.Y.–based affordable housing developer, recently expanded its senior leadership team by two.
Sheila Kilpatrick joins the nonprofit as vice president of operations and will oversee the firm's day-to-day operations in property management, rental assistance, and supportive services. In addition, she will handle human resources. Kilpatrick brings 13 years' experience as director of housing and administrative services at Poughkeepsie's Hudson River Housing to her new position. Kilpatrick replaces COO Kathleen M. Leahy, who is retiring after nearly 16 years.
Joseph P. Eriole joins RUPCO in a newly created position, vice president of real estate development. Eriole is the former deputy comptroller for Ulster County and is an attorney with two decades' experience in environmental, real estate development, and municipal law and finance. He is an instructor of environmental law at Marist College, as well as an award-winning lecturer in the college's Leadership Institute.
Sheehy to Retire from Impact Community Capital
Daniel Sheehy, president and CEO of Impact Community Capital, has announced he will be leaving Impact to pursue outside interests. He has served as Impact’s founding president and CEO since 1999.
Sheehy steps down after 35 years of senior management experience in the financial services and public benefit sectors, including 20 years of community economic development. He is an industry leader known for developing creative community investment opportunities for institutional investors. Under Sheehy’s leadership, Impact has pioneered the pooling and securitization of community investment portfolios to finance multifamily affordable housing, community child-care, and health-care facilities.
Impact has financed almost 38,000 affordable housing units nationally, including multifamily, seniors, and special-needs units, and has committed to funding another 4,800 affordable units over the next two years. It has also financed child-care and health-care facilities, and commercial centers in low-income communities in California.
Chief investment officer Jeff Brenner will serve as the interim CEO while Impact’s board conducts the search for Sheehy’s successor. Sheehy has agreed to consult to Impact after stepping down to assist in the transition of his responsibilities.
Impact Community Capital is owned by leading insurance companies: Allstate Insurance Co., Farmers Insurance Exchange, Nationwide Mutual Insurance Co., Pacific Life Insurance Co., Liberty Mutual Insurance, State Farm Mutual Automobile Insurance Co., Teachers Insurance and Annuity Association of America, and 21st Century Insurance Co.
Walker & Dunlop Adds VP
Kyle Peterson has been hired as vice president in Walker & Dunlop’s multifamily finance group.
Based out of Walker & Dunlop’s Chicago office, Peterson specializes in the financing of acquisitions, rehabilitations, and new construction of affordable and market-rate properties. He furthers the company’s strategic goal of increasing its multifamily agency originations, particularly in areas outside of the market-rate product caps.
Prior to joining Walker
& Dunlop, Peterson served as vice president at Herman & Kittle
Properties, where he provided financing solutions for affordable and
market-rate housing and developed strategic partnerships to win business with
housing authorities and other nonprofit partners.
Greystone Adds Managing Director
Jay Kirsch has joined Greystone, a real estate lending, investment, and advisory company, as a managing director. In this role, he will focus on production of small balance loans across the Freddie Mac and Fannie Mae platforms.
Kirsch will be co-based in Rockville, Md., and Philadelphia. He joins Greystone from Freddie Mac Multifamily, where he most recently served as asset management and operations client relationship manager for the Small Balance Loan Program. During his more than seven years at Freddie Mac, Kirsch also held roles in underwriting, production, and retained and securitized portfolio surveillance.
Sugar Creek Expands Staff, Platform
Sugar Creek Capital has expanded its tax credit appetite to a 50-state platform, investing in a variety of state tax credit programs. The company adds Paul Lynch, director of state tax credit sales and Nadia Lanter, acquisitions manager, to its team to pursue state tax credit opportunities across the country.
Lynch brings 30 years of financial service experience to advise clients and tax advisors with state tax credit utilization. In his new role, he places all state tax credit types, emphasizing low-income housing, historic, film, and entertainment tax credits and other transferable credits. He recently served as president of Churchill Stateside Securities, where he was responsible for ensuring company obligations to tax credit investors.
As acquisitions manager, Lanter identifies and closes transactions using a variety of state tax credits throughout the United States. She brings an in-depth knowledge of urban renewal projects and eight years of overseeing investments in transferable tax credits throughout the Midwest. Previously, Lanter served as vice president of Lisart Capital and as a tax credit specialist at Commerce Bank.