RED Mortgage Names President
Trent Brooks has been named president and national head of production at RED Mortgage Capital, the mortgage banking arm of comprehensive capital provider RED Capital Group.
Brooks brings more than 30 years of executive leadership experience in the multifamily housing industry to the post and has long-term relationships with Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA) in his support of affordable, workforce, conventional, green, and small-balance housing finance programs.
He will have offices in Newport Beach, Calif., and Columbus, Ohio.
Most recently, Brooks served as executive vice president—director, Western region, at Bellwether Enterprise Real Estate Capital. He was a co-founder of Sierra Capital Partners and GlenBrook Capital Advisors. Brooks also served as COO at Lyon Communities and president of Bankers Mutual where he served for over 15 years.
“We are excited to have Trent join RED to lead the growth and product diversification efforts of our National Multifamily Production Platform,” said Ted Meylor, chairman and CEO of RED Capital Group. “With his combination of vast industry experience and creative thinking, he is the perfect fit to help grow RED’s market share, enhance customer service, and lead our agency relationships. I am confident in Trent’s ability to build upon our already strong connections with Fannie Mae, Freddie Mac, FHA, and the Department of Housing and Urban Development.”
Pennrose Expands Midwest Development Team
William F. Little has joined Pennrose as regional vice president of development in Chicago.
Little was previously with Hunt Development Group, an affiliate of the Hunt Cos. Earlier this year, Pennrose announced that Hunt Cos. had become a strategic partner in its development activities.
Little will continue to oversee the execution of the Cabrini-Green redevelopment in Chicago, one of the projects in Hunt’s pipeline that Pennrose assumed responsibility and oversight for. He also will be responsible for the continued growth of Pennrose’s development pipeline throughout Illinois and Indiana, including all aspects of the real estate business development process.
Little is a 25-year veteran of the real estate development and construction industry. As senior vice president of public private partnerships with Hunt, his role emphasized building partnerships with local, state, and federal housing and redevelopment agencies to revitalize communities by introducing and implementing housing and economic development solutions. For over 10 years, he served as executive vice president of development at the Chicago Housing Authority.
Bellwether Enterprise Appoints SVP
Deanna Lee has been named senior vice president of Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment.
She brings with her almost two decades of experience in the mortgage lending industry and commercial real estate.
In her new role, Lee will join the firm’s Los Angeles office, which was formed last March when Bellwether Enterprise underwent a major West Coast expansion. During the expansion, the company added 23 new hires to the new L.A. office and the existing Irvine, Calif., and San Diego offices.
Among her primary responsibilities, Lee will manage and support the Southern California closing team as they work to arrange financing solutions for a wide range of borrowers. She also will serve as a nationwide resource on new loan-related activities.
Previously, Lee served as associate general counsel, vice president of commercial mortgage lending, at AIG Asset Management, a subsidiary of American International Group. In this role, she led legal supervision of commercial mortgage loan originations and purchases, commercial mortgage-backed securities, and loan modifications—drafting, negotiating, and reviewing term sheets and applications relating to commercial mortgage and mezzanine loans up to $1 billion in value. Additionally, Lee served as a senior associate at O’Melveny & Myers.
Longtime Oakland Housing Authority Executive Retires
Phillip Neville has retired after 43 years of working at the Oakland (Calif.) Housing Authority (OHA).
He joined the organization as an administrative analyst in 1974 and has held several key roles over the years. In 1978, he became director of leased housing, a position he held for more than two decades before moving into the development side of the business.
Neville became a front-runner in the use of mixed-finance development, working on the revitalization of three sites using HOPE VI grants, which transformed Chestnut Linden Court, Mandela Gateway, and Lion Creek Crossings. Ultimately, he was responsible for the construction and rehabilitation of more than 50 affordable for-sale homes and nearly 2,000 rental units for low-income households across 20 developments.
In August 2000, Neville became the agency’s first director of development. Six years later, he was promoted to deputy executive director for the Office of Real Estate Development; and later he added oversight of OHA’s asset management team and California Affordable Housing Initiatives, Inc.
Integrity Housing Adds to Team
Michael Tayefeh has been named senior acquisitions analyst at Integrity Housing in Irvine, Calif.
He brings five years of low-income housing tax credit experience to his role. Tayefeh began his career in syndication at WNC followed by Credit Capital.
Most recently, he worked at homebuilder K. Hovnanian Homes.At Integrity Housing, Tayefeh will be involved in property acquisitions and finance, including sourcing, underwriting, negotiations, purchase agreements, due diligence, closing, and development.
Walker & Dunlop Hires Managing Director in Atlanta
Walker & Dunlop has hired Gregory Krafcik as a managing director on its capital markets team, which brokers commercial real estate loans and sources Fannie Mae, Freddie Mac, and FHA loans.
He is based in the firm’s Atlanta office and is responsible for sourcing and structuring permanent, bridge, and construction loans for all commercial real estate property types.
Krafcik has over 12 years of experience in the commercial real estate industry and has completed over $4 billion in loan originations utilizing life insurance, CMBS, and agency capital sources. Prior to joining Walker & Dunlop, he served as managing director at Greystone & Co., where he was head of CMBS originations for the Southeast.