The Millennia Cos. Promotes Angelica Sinito
Angelica Sinito has been promoted to vice president of The Millennia Cos. in accordance with the enterprise’s long-term strategy.
In her new role, Sinito will guide portfolio growth strategy, lead key asset management functions, establish new debt and equity platforms, and complete tax-exempt bond and low-income housing tax credit transactions, which support multimillion dollar renovations and preserve the affordability of multifamily affordable housing developments, many of which have experienced years of decline.
Sinito will continue to oversee the company’s institutional investor relations activities and manage Year 15 and market-rate multifamily development projects.
Prior to Millennia, Sinito worked at Related Cos., where she focused on high-yield credit investments across all asset classes, and as an analyst at R4Capital.
Headquartered in Cleveland, Millennia operates in a closely aligned set of sectors including real estate development and property management, and its portfolio includes more than 275 multifamily residential communities in 26 states, with over 100 apartment developments having undergone transformative rehabilitations. In 2020, Affordable Housing Finance ranked Millennia No. 1 on the Top 10 Companies Completing Substantial Rehabilitations and No. 4 on the Top 50 Affordable Housing Owners.
Enterprise Announces Pacific Northwest and Ohio Market Leaders
Enterprise Community Partners has named Emily Alvarado as vice president and Pacific Northwest market leader and Ayonna Blue Donald as vice president and Ohio market leader.
Alvarado, who recently served as director of the Office of Housing for the city of Seattle, will oversee Enterprise’s work in Washington and Oregon. Her work will include supervising Enterprise’s Home & Hope initiative, which accelerates the development of affordable housing with early-learning centers and other community assets on tax-exempt sites. Since the initiative’s launch in 2017, Enterprise has helped catalyze the development of thousands of homes and hundreds of early-learning classrooms, addressing the parallel shortages of two critical foundations of opportunity. A key element of Home & Hope is the Washington Early Learning Loan (WELL) Fund, which provides financing, training, and technical assistance to rapidly expand early-learning centers—a majority of which are Black, Indigenous and People of Color (BIPOC)-led organizations.
Donald served as director of Cleveland’s Department of Building and Housing from 2017 to 2021 and most recently served as the chief of commercial services and governmental affairs for the Department of Port Control.
Donald will lead Enterprise’s work across Ohio, including overseeing the Lead Safe Cleveland Coalition, a public-private partnership that supports effective and equitable solutions to lead poisoning across the city, for which she has served as a steering committee member since 2019. She will also oversee the Justice Involved Homes program, which works to increase the availability of all types of housing as part of a comprehensive support system for formerly incarcerated individuals.
Donald will assume the role from Mark McDermott, who is retiring at the end of 2021 after 24 years with Enterprise.
The Integral Group Enters Florida Market with New Alliance
The Bravis Group and The Integral Group, a leading Atlanta-based community development and commercial real estate development and investment firm, have formed a Florida-based strategic alliance. Integral will retain its Atlanta headquarters, the company name, and ongoing business activities.
Kareem T. Brantley, founding member and managing partner of the Bravis Group, has been named managing partner of the newly established Integral Florida in Miami to serve urban markets across the state. The alliance is a result of Integral’s progressive plan to further expand its national footprint by actively developing partnerships with other diverse firms in key urban markets, like Miami. Additional announcements are scheduled for 2022, said the company.
“Joining forces allows us to maximize returns to our investors and partners,” said Egbert L.J. Perry, Integral chairman and CEO. “At Integral, we continue to invest in diverse commercial real estate talent and business owners while providing a full complement of community development and real estate services to our investors and partners.”
Cinnaire Appoints Senior Vice Presidents
Cinnaire has announced the promotion of Josh Ghena to senior vice president, equity business funding, and Mike Witt to senior vice president of asset management. In these leadership positions, both will be instrumental in supporting the company’s strategic plan and providing executive oversight for the organization’s $4.9 billion asset portfolio.
Ghena joined Cinnaire in 2014 and has held positions of increasing responsibility including vice president of asset management, asset stabilization expert, director of special assets, and asset manager. As senior vice president, equity business funding, he manages Cinnaire’s investment strategies and provides oversight of the organization’s equity funds, investor due diligence, and fund modeling. He brings more than 10 years of experience to the position.
Prior to joining Cinnaire, Ghena provided technical assistance to Department of Housing and Urban Development (HUD) grantees. His work as a technical assistance provider specialized in Community Development Block Grants, HOME, and the Neighborhood Stabilization Program.
An affordable housing industry veteran, Witt joined Cinnaire in 2020. As senior vice president, asset management, he is charged with overseeing the growth and development of the organization’s asset management team and overseeing investments made by Cinnaire in numerous multifamily developments across multiple business lines.
He previously served as acting chief of housing at the Michigan State Housing Development Authority, where he was responsible for oversight of all multifamily rental programs and community development decisions.
Headquartered in Michigan, Cinnaire is a nonprofit financial partner that supports affordable housing developments along with community and economic revitalization initiatives through creative investments, loans, and real estate development services. Since 1993, Cinnaire has invested $4.9 billion to support the development of 863 housing communities in 10 states, providing 53,146 affordable apartment homes for more than 114,000 individuals and families and has provided community development loans to support the creation/retention of more than 4.7 million square feet of commercial, mixed-use, and community space.
EAH Housing Appoints Director of Business Development
Bianca Neumann has been named director of business development for real estate development at EAH Housing, an affordable housing nonprofit organization. Neumann will be responsible for growing the organization’s new construction pipeline throughout Northern California.
Neumann brings experience in multifamily development, finance, public policy, and asset management. Prior to her position at EAH Housing, Neumann was a senior business development manager at MidPen Housing, where she played a vital role in securing eight new affordable housing communities throughout the Bay Area, including San Francisco’s first affordable educator housing development.
“Bianca brings a wealth of experience to this role,” said Welton Jordan, chief real estate development officer at EAH Housing. “From her work in loan underwriting with New York City Housing Preservation and Development to community development with the San Francisco’s Mayor Office, she understands and appreciates the intricacies of developing partnerships and creating solutions that work for everyone involved in the process.”
NewPoint Adds Senior Team Members to Affordable Housing Finance Platform
Bryan Dickson and Karen Kim have joined NewPoint Real Estate Capital, both as managing directors, affordable originations. They will focus on agency and proprietary affordable housing lending and join NewPoint’s product and underwriting teams exclusively focused on meeting the needs of the affordable housing community.
Dickson and Kim join NewPoint at a time the company is making an aggressive push to build a leading affordable housing finance platform and looks to drive change in all areas of multifamily lending, according to the company.
With a career spanning more than 20 years, Dickson has financed, underwritten, and asset-managed some of the largest and highest quality affordable and conventional housing developments in the U.S. Most recently, he was regional director for Citi Community Capital, responsible for affordable housing debt origination and investment banking in the Mid-Atlantic and throughout the U.S. Before that, he was a producer at Freddie Mac in the Targeted Affordable Housing sales and investments group. Earlier in his career, he worked at the Illinois Housing Development Authority and Berkshire Mortgage Finance.
Kim joins NewPoint with a unique perspective on the affordable housing sector. For the past 10 years, she has worked with clients in various capacities, providing custom financing solutions through Federal Housing Administration (FHA), Fannie Mae, Freddie Mac, bridge, and other balance sheet loan programs for affordable and conventional housing developments. Most recently, Kim was a relationship manager with Greystone & Co., where she managed a portfolio of clients, including several top affordable housing developers. Before, Kim worked in the nonprofit sector as manager of corporate and foundation relations for God’s Love We Deliver and Development Associate for Upwardly Global.
They join Joshua Schonfeld, who serves as NewPoint’s head of affordable housing program and transaction management, and Karu Arulanandam, head of affordable underwriting.
NewPoint Real Estate Capital is a joint venture of Meridian Capital Group, a leading commercial mortgage brokerage, and Barings, one of the world’s leading investment managers. Launched in the second quarter of 2021, the company is a Fannie Mae DUS Lender, Freddie Mac Optigo Servicer, and HUD/FHA MAP and LEAN lender. In addition, the company offers a variety of proprietary lending products and programs.
McCulloch Joins FHLBank of San Francisco (photo approved)
Anne Segrest McCulloch has been appointed executive vice president, chief legal officer, and corporate secretary of the Federal Home Loan Bank of San Francisco.
As chief legal officer, she will be responsible for providing legal counsel to the bank’s management and board of directors, including advising on regulatory matters affecting the development and execution of the bank’s business strategies, policies, and practices. She will also direct and manage the bank’s legal staff, outside counsel, and the public affairs team.
McCulloch recently served as president and CEO Housing Partnership Equity Trust, a national, public purpose real estate investment trust focused on preserving and maintaining affordable rental housing throughout the United States. A recognized authority on housing, she has held senior positions at Fannie Mae, HUD, the Federal Deposit Insurance Corporation, and the Resolution Trust Corp.
McCulloch was inducted into Affordable Housing Finance’s Hall of Fame this year.
C. Lamar Myers Joins Toorak Capital Partners
C. Lamar Myers has been named principal and head of multifamily business development at Toorak Capital Partners.
During his 15-year career in commercial real estate, Myers has advised, originated, structured, and negotiated loan facilities, overseen workouts of non-stabilized assets, and securitized billions in transactions.
Prior to joining Toorak, Myers spent five years as a production manager at Freddie Mac overseeing the Northeast region’s production and sales small balance loans program. He spent two years as a director at New York City’s Department of Housing Preservation and Development, where he ran a multifamily development program focused on preserving affordable housing. Earlier in his career, Myers served as a vice president within the structured lending and investing group at Citigroup and was a manager at Alvarez & Marsal.
Toorak Capital Partners is an integrated correspondent lending platform based in Summit, New Jersey. The company acquires small balance business purpose loans backed by residential, multifamily, and mixed-use properties throughout the United States and United Kingdom.
JASA Names Co-Chief Program Officer
Danielle Palmisano will become co-chief program officer at JASA, which provides critical support to over 40,000 older adults in New York City each year. Alongside co-chief program officer Alan Cohen, Palmisano will spearhead JASA programs’ efforts to support seniors with housing, as the largest nonprofit manager of senior housing in New York City, as well as with life-saving home-delivered meals, legal services, mental health support services, social programs, and more.
The opening came after longtime and highly respected chief program officer Amy Chalfy announced she will be retiring from the position Nov. 30.
Palmisano, who began as a social worker for JASA in 2000, most recently served as JASA’s senior director, intensive services.