People on the Move 11.9.20

Lincoln Avenue Capital Adds to Team

Scott Reinert, vice president of asset services, and Ahmed Hassanein, chief administrative officer, have joined Lincoln Avenue Capital, a fast-growing affordable housing developer and operator.

Reinert brings more than three decades of property management and real estate expertise to the firm, where he will direct asset management and oversee strategic initiatives across the company’s portfolio. Prior to joining Lincoln Avenue Capital, he served as senior vice president, operations, at Essex Property Trust and as executive vice president, operations, at BRE Properties. Reinert also spent a 14-year stint at Irvine Company Apartment Communities, ultimately becoming senior vice president of property management.

A certified public accountant with more than 25 years of experience in the financial service and private equity spaces, Hassanein will oversee finance, human resources, information technology, and corporate facilities in his new role. Before joining the Lincoln Avenue Capital team, he served as chief accounting officer of Advisor Group and worked in senior positions at Cetera Financial Group and the Library of Congress Federal Credit Union.

Headquartered in Los Angeles, Lincoln Avenue Capital has a portfolio that includes 51 properties, comprising more than 10,500 units.

Berkadia Adds Head of Capital Markets on Tax Credit Syndication Team

Marge Novak has been appointed senior vice president and head of capital markets on the tax credit syndication team at Berkadia Affordable.

Novak brings more than 25 years of low-income housing tax credit (LIHTC) experience to Berkadia, with specific expertise raising capital, recruiting new investors, managing investor relationships, and coordinating overall capital raising efforts with internal staff and external partners. She previously served as executive vice president, capital group, at Cinnaire where she was responsible for all capital raising efforts and was a member of the executive team and finance committee. During her nine years at Cinnaire, Novak led the company in raising $1.8 billion in LIHTC equity, some of the highest levels of capital in the company’s history.

Prior to joining Cinnaire, Novak was executive director of the Ann Arbor Housing Commission. Previously, she was director of LIHTC for Fannie Mae, vice president of fund management for the National Equity Fund, and director of tax credits for the Illinois Housing Development Authority.

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a suite of services to multifamily and commercial property clients.

Executive Joins Pennrose Management Team

Pennrose has added Dave Craft to its property management executive team as vice president of maintenance. In this role, he is responsible for oversight of maintaining the physical assets of all sites in the organization, executing capital plans, managing on-site insurance claims administration, recruiting and training of regional maintenance managers, and managing the teams that contribute to these activities.

With nearly 20 years of maintenance and construction experience, Craft most recently served as director of maintenance for TM Associates Management, where he was responsible for planning and implementing capital improvements, insurance claims, maintenance system monitory, and vendor bid review and contract negotiation. He has also held property management and construction superintendent positions within the multifamily and real estate industry.

Craft is a certified apartment maintenance technician from the National Apartment Association and has his Uniformed Physical Conditions Standards certification from the Department of Housing and Urban Development as well as multiple other certifications.

Cinnaire Names SVP, Business Funding Midwest Region

Vicki Mincey has been appointed senior vice president, business funding Midwest region, at Cinnaire.

For nearly a decade Mincey has been on Cinnaire’s capital management team, most recently as senior vice president, capital management. In her new role, Mincey will manage the firm’s key investor relationships for the LIHTC program while developing and implementing tax credit fund strategies across the organization.

Mincey is charged with managing the firm’s equity funds and investor relations throughout the Midwest. She will also play a key role in providing leadership over capital raising and allocation, managing investor relationships, and coordinating overall capital raising efforts with internal staff and external partners.

She has been with Cinnaire since 2006 and has held several key roles in the organization, including director of asset management and director of fund management and investor relations. During her career at the firm, she has been responsible for overseeing lending and equity portfolios totaling more than $4.86 billion and has been an integral part of the LIHTC capital raising and deployment team.

Prior to joining the company, she served as CFO for The TM Group, director of finance for Southwest Solutions, and as a financial analyst at Kughn Enterprises.

Headquartered in Lansing, Michigan, Cinnaire is a nonprofit financial partner and LIHTC syndicator that supports community and economic revitalization initiatives.

Alliant Capital Makes Moves

Drew Foster has been named senior vice president of investor relations at Alliant Capital

He is responsible for managing investor relationships and assisting in the development of equity placement strategies with a focus on local and regional investors. With nearly two decades of experience in real estate investing, he has participated in the acquisition, capital raise, and syndication of more than $1 billion in tax credit investments nationwide.

Foster joins the team led by Dudley Benoit, executive vice president, and will be based in Connecticut. He was most recently a director of acquisitions at Red Stone Equity Partners, where he was responsible for managing developer and investor relationships throughout the Northeast, Gulf Region, and lower Midwest. During his nine years at Red Stone, he played an integral role in the company’s regional growth and worked closely with the underwriting, asset management, and investor relations teams.

Earlier in his career, Foster was associate director of acquisitions at Raymond James Tax Credit Funds, project manager at Telesis Corp., and vice president at Centerline Capital Group.

In another move, Sharon Goldstein has been promoted to senior director of investor relations.

In this role, Goldstein will lead the company’s multi-investor fund efforts and work to structure funds and recruit and manage investors. In addition, she will continue to spearhead the company’s specialized proprietary funds.

Belveron Partners Adds Executives with a Focus on Housing Preservation

Josh Plattner has been named managing director of investments and Bianca Vanin has been named head of asset management at Belveron Partners, a leading affordable housing and preservation-focused investment group.

Formerly director of acquisitions for Jonathan Rose Cos. in New York, Plattner’s experience includes serving as the acquisition lead for the firm’s private equity fund. He also focused on affordable and mixed-income housing preservation and greening. At the Rose firm, he was responsible for sourcing, underwriting, financing, contract negotiation, and due diligence on acquisitions as well as assisting with fundraising efforts.

He will be responsible for leading Belveron’s acquisitions strategy and sourcing, evaluating, and executing investments in affordable and workforce housing. Based in New York City, he will also oversee the growth of the firm’s office there.

Vanin previously worked at L+M Development Partners and Enterprise Community Partners in New York. Now based in San Francisco, she oversees Belveron’s diverse portfolio, spanning 30,000 homes across 32 states.