Hippe Joins CHFA
Patricia Hippe has been named CFO of the Colorado Housing and Finance Authority (CHFA).
She will serve on CHFA's four-member executive team and oversee the authority's corporate debt and investment, treasury, accounting, and information technology teams.
Hippe has spent the past 16 years working in affordable housing, most recently serving as deputy commissioner and CFO at the Minnesota Housing Finance Agency.
In 2006, she was recognized as a Top Woman in Finance by Finance and Commerce magazine. She is a two-time recipient of the Minnesota Housing Lighthouse Award for Outstanding Leadership.
First Sterling Announces Promotion
First Sterling, a leading low-income housing tax credit (LIHTC) syndicator, has promoted Ryan Moorehead to vice president.
He will expand new business development and spearhead third-party asset management services to government, nonprofit, and private entities nationwide.
Moorehead is executive vice president of the African-American Real Estate Professionals of New York and a leadership board member of the New York Council of Urban Professionals.
Common Ground Names Executive Director
Brenda Rosen has been appointed executive director of Common Ground, a New York-based homeless housing and services organization.
Rosen, who had been serving as acting executive director since January, will lead the organization's efforts to develop new real estate opportunities, manage its growing portfolio of housing units, coordinate an array of support services, and expand its Street to Home outreach program in partnership with the New York City Department of Homeless Services.
Raymond James Opens Southern California Office
Raymond James Tax Credit Funds (RJTCF), a national LIHTC syndicator headquartered in Florida, has opened an office in the Los Angeles area.
Kevin Kilbane will head the new Manhattan Beach office.
As managing director of West Coast acquisitions, Kilbane is tasked with leading RJTCF's acquisition efforts in multifamily affordable housing properties on the West Coast. During the past 18 months, the firm has invested approximately $120 million of equity in affordable housing properties throughout California.
MBS Announces Subsidiary Head
Alan J. Ragan has been named president of MBS Capital Corp., a newly formed subsidiary of McCormack Baron Salazar (MBS) that will focus on acquisition and syndication of new and existing residential real estate properties across the United States.
Ragan has served as president of the company's management firm, McCormack Baron Ragan Property Management Services, Inc., for 15 years.
Tim Zaleski will assume the role of president of the property management affiliate. He joins the company from National Church Residences, where he was the senior executive in charge of the property management division.
MBS has developed more than 16,000 units of affordable housing in 36 urban markets totaling more than $2.4 billion in development investment since 1973.
Nixon Peabody Expands New York City Practice
Nixon Peabody has expanded its tax credit finance and syndication practice in New York City with the arrival of partners Alan S. Cohen and Mark A. Kreitman, associate Amy Curry, and paralegal George Steiner.
Cohen and Kreitman recently led Paul Hastings' affordable housing tax credit practice.
For the past 30 years, Cohen has focused his practice on tax-advantaged investments. He represents tax credit equity sponsors and investors in providing equity and debt for affordable housing and other projects.
Kreitman concentrates his practice on affordable housing and tax credits. He has represented public companies, private equity funds, and private firms in all aspects of affordable housing syndications.
McShane Names COO
Mark A. Saturno has become COO of McShane Development Co., a national development and investment firm based in Rosemont, Ill. He will manage operations, finances, acquisition, leasing, and disposition activities throughout the organization, including its offices in Austin, Texas; Irvine, Calif.; and Phoenix.
Prior to joining McShane, Saturno served as managing director, central region, at AMB Property Corp.