Sipe Named to Head IHCDA
J. Jacob Sipe has been named executive director of the Indiana Housing & Community Development Authority.
Sipe, who has been with the agency since 1999, was recently appointed to the post by Gov. Mike Pence after serving as interim executive director since last July.
In his former position as head of the real estate department, he was responsible for administering the state’s low-income housing tax credit (LIHTC) program and other key housing finance programs.
Raymond James Names President
Steve Kropf has been appointed president of Raymond James Tax Credit Funds (RJTCF), a national syndicator of LIHTCs.
He takes over the top post from Ron Diner, who will remain involved in the company as executive chairman. Kropf had been executive vice president and director of investments of the St. Petersburg, Fla.-based firm.
Kropf joined RJTCF in 2000 after serving as a senior manager in the financial advisory services practice at PricewaterhouseCoopers.
The firm also announced that it has opened a Portland, Ore., office, with the hiring of Dan Wendle as vice president, director of acquisitions. The move expands the firm’s presence in the West.
BFIM Announces Leadership Moves
Boston Financial Investment Management, a LIHTC syndicator and asset management firm, announced a change in leadership with the promotion of Sarah Laubinger and Gregory Voyentzie to co-lead the equity production group.
They will have joint responsibility for the strategic direction of the group, including identifying new capital sources, structuring funds, and selecting property-level investments.
Laubinger joined Boston Financial in 1997 and has more than 15 years of syndication experience sourcing, structuring, underwriting, and closing nearly $2 billion in equity. Most recently, she has helped lead Boston Financial’s acquisition and investor placement activities placing more than $600 million with institutional clients.
Voyentzie joined Boston Financial in 1999 and has more than 20 years of experience in the affordable housing business. He has led Boston Financial’s originations team for the past six years and has invested more than $1 billion of equity in affordable housing properties in his career.
Greg Judge, who had been COO, has left the firm.
Nixon Peabody Promotes Attorneys
Nixon Peabody, LLP, has promoted affordable housing attorneys Tatiana Gutierrez Abendschein and Irene Kueito its partnership.
Gutierrez Abendschein represents developers, owners, syndicators, investors, and others on regulatory issues before the Department of Housing and Urban Development and in transactions involving new construction or the preservation of affordable housing. She is located in Washington, D.C.
Kuei counsels developers on the acquisition and disposition, financing, and development of affordable housing. Located in San Francisco, she is experienced in mixed-use and multifamily developments funded by tax-exempt bonds, LIHTCs, and other public financing.
McCormack Baron Salazar Promotes Two
Laurel Tinsley and Mike Saundershave been promoted to senior vice presidents at McCormack Baron Salazar, a national urban housing development firm.
Since taking over the firm’s New Markets Tax Credit arm (MBS Urban Initiatives CDE) two and a half years ago, Tinsley has more than doubled the rate of tax credit deployment, closing 12 New Markets investments across the country.
Saunders joined the company in 1995 as a project architect and has been leading the design and construction department since 2001.
He has helped to define what a signature McCormack Baron Salazar community looks like and has played a key role in the evolution of the physical design to support the firm’s mixed-income, mixed-finance model.
Ballard Spahr Names Chair
Bart I. Mellits, who represents clients in real estate lending, acquisition, and development, has become chair of Ballard Spahr’s real estate department.
Based in Philadelphia, he will lead a team of 110 lawyers in 11 of the firm’s 13 offices. Mellits, who served as vice chair of the department, succeeds Michael Sklaroff, who established the department 25 years ago.
Oak Grove Opens Boston Office
Paul Barrett has joined Oak Grove Capital as senior vice president. He will focus on new loan originations and will lead a new Boston market office.
Barrett was the Northeast director for the AFL-CIO Housing Investment Trust, a $4.5 billion fund that invests in multifamily housing developments across the country. Barrett has also previously held positions as director of the Boston Redevelopment Authority and Rhode Island state secretary of economic development.
Oak Grove Capital is a mortgage lender specializing in affordable and market-rate multifamily properties, seniors housing, and health-care facilities.
Arbor Appoints VP of FHA Lending
Arbor Commercial Mortgage, LLC, has named Matthew Carey vice president of Federal Housing Administration (FHA) lending in the firm’s Cleveland office.
He will oversee the firm’s FHA Multifamily Accelerated Processing (MAP) and seniors housing/health-care loan production, including the integration of Arbor’s Bridge-to-HUD loan program.
Previously, Carey was FHA deputy chief underwriter at KeyBank Real Estate Capital. He also worked as a MAP underwriter at Love Funding Corp.
Freddie Mac Adds Regional Director
Richard Katzenstein has joined Freddie Mac Multifamily and will lead the Northeast region as its managing regional director.
He was previously managing director at Tannery Brook Partners, where he established an origination network and originated senior and subordinate debt for multifamily and commercial properties.