Housing Trust Group Appoints COO
Jordan D. Tolman has been named chief operating officer at Housing Trust Group (HTG), a Miami-based multifamily firm and one of the nation’s largest affordable housing developers.
Prior to moving to Florida and joining HTG, Tolman served as a principal of a real estate development company headquartered in New York City. Earlier in his career, he was a partner at two law firms, where he represented numerous clients in diverse legal areas such as construction contracts and consulting agreements, commercial and residential leasing, and building management. He represented developers, owners, and management companies in all facets of the development cycle.
HTG is an award-winning, full-service developer of multifamily residential communities with over 6,000 affordable and market-rate units throughout Arizona, Florida, Georgia, and Texas, and more than 2,000 new apartments in the pipeline.
The Michaels Organization Names VP of Capital Markets
Cristhian Codorniu has joined The Michaels Organization as vice president of capital markets. He has lead responsibility for the firm’s debt and equity platform that supports both new development and acquisition opportunities for Michaels, a national leader in residential development with full-service capabilities in development, management, finance, and construction.
He succeeds Michael Flanagan, who was recently promoted to executive vice president of development for Michaels’ student living portfolio. In addition to being the nation’s largest private-sector owner of affordable housing, the Camden, New Jersey-based company is an active owner, developer, and manager of military, student, and market-rate housing.
Codorniu comes to Michaels from Parallel Infrastructure, where he served as vice president of finance. Prior to that, he was head of business insights in the investment management group of Lendlease, organizing an investment management platform that focused on telecom and multifamily housing. Codorniu’s 10 years of experience at Lendlease also included risk and insurance management and transactional management of privatized military housing.
Jamboree Announces Promotion
Vicky Rodriguez has been promoted to vice president of housing development at Jamboree Housing Corp. She is responsible for overseeing the housing development department, staffing, structure and processes, and implementing the organization’s business and strategic goals, as well as cultivating and managing internal and external partnerships.
Rodriguez’s promotion positions her to leverage her expertise to mentor newer staff members in key areas of the industry.
Previously senior director of development, Rodriguez has worked in the affordable housing industry for more than 15 years, most of which is at Jamboree, a leading nonprofit developer and owner headquartered in Irvine, California.
She’s worked her way up the organization’s ranks, holding the positions of assistant project manager, senior project manager, and director of policy. Rodriguez has garnered extensive expertise in the funding of and legislation for affordable housing. She is the in-house expert for one of Jamboree’s largest funding sources—low-income housing tax credits (LIHTCs). Additionally, she secured one of the first loans issued by the Strategic Growth Council’s Affordable Housing and Sustainable Communities Program, which provided funding for Jamboree’s West Gateway Place in West Sacramento.
Forge Development Names Chief Architect
Jorge de Quesada has been appointed chief architect at Forge Development Partners, where he will be joining the firm’s executive team to assist in “reimaging the future of essential housing,” announced the San Francisco-based firm.
He will spearhead innovative architectural designs that integrate cutting-edge construction with sustainable energy-saving concepts within manageable costs and bring essential housing within reach of the average middle-income renter.
De Quesada is a leader in the development of time and cost-efficient cutting-edge structural system designs for both multifamily residential and commercial projects. His designs can be found in the Opera Plaza, the San Francisco Merchandise Mart Extension (Mart 2), and a variety of condominium and office buildings in San Francisco as well as the Mercy and Scripps Memorial hospitals in San Diego.
He got his start in Havana, Cuba, in the 1950s before immigrating to California and founding his own architectural firm in 1964. Since then, de Quesada has developed a variety of innovative construction methods, including developing the Pueblo structural system of shop-fabricated welded steel components and developing Urbanis, an integrated construction system that uses off-site prefabricated modular components.
Freddie Mac Appoints Officers Dedicated to Equitable Housing Solutions
Freddie Mac has created two new senior leadership roles in its single-family and multifamily business lines dedicated to addressing equity in housing. Pamela Perry will serve as vice president, single-family equity equitable housing, and Amanda Nunnink will serve as vice president, equity, in multifamily housing.
Perry will lead a newly formed team responsible for creating solutions to break through historical barriers to achieving homeownership for minority families across the income spectrum, which has direct implications for wealth accumulation.
She brings 25 years of legal experience in the financial services industry with expertise in fair housing and community development. Perry joined Freddie Mac in 2011 to oversee the company’s fair lending program.
Nunnink will lead efforts to create sustainable improvements for renters and the rental housing industry and work across multifamily to elevate diversity, equity, and inclusion (DEI) principles throughout the division. She brings nearly a decade of experience working with Freddie Mac’s Optigo network and will leverage her deep relationships with investors, lenders, and borrowers to drive industrywide outcomes.
Nunnink joined Freddie Mac in 2012 in production and sales, where she led the development of several of Freddie Mac Multifamily’s innovative offerings.
WinnCompanies Promotes Six Executives
WinnCompanies, an award-winning national multifamily development and management company, has promoted six executives to top positions within the company’s financial, accounting, development, and military housing leadership following their performances in 2020.
“Each of these leaders have been critical to the success of their divisions and to the overall performance of our company for many years. Most recently during a difficult 2020, their leadership and expertise delivered much-needed stability and direction to our operations,” said WinnCompanies CEO Gilbert Winn. “All six are talented longtime team members who have earned the respect of their teams and the company’s appreciation.”
Susan Malatesta has been promoted to chief financial officer of WinnCompanies, after serving as executive vice president of asset management since 2015. She is responsible for the oversight of risk management and insurance, tax strategy, and the master budget, as well as asset management for 111 apartment properties owned by WinnCompanies in 11 states and the District of Columbia. She is a member of the firm’s board of directors and has been with the company since 1988.
Lynne Chase has been promoted to chief accounting officer for WinnCompanies and appointed to the board of directors, after serving as executive vice president of accounting since 2016. She is responsible for all aspects of accounting, budgeting, financial reporting, and internal control for all company affiliates—WinnResidential, WinnResidential Military Housing Services, and WinnDevelopment, as well as management operations software and support. Chase leads 122 team members. She joined WinnCompanies in 1990.
Adam Stein has been promoted to executive vice president of WinnDevelopment, the company’s development arm, after serving as senior vice president since 2016. In addition to day-to-day management of the development team and operations, he is responsible for overseeing the company’s development initiatives across the Northeast. He joined the company in 2009.
Lorraine Witunski has been promoted to executive vice president of human resources and learning and development for WinnCompanies, after serving as senior vice president since 2019. She is responsible for the management of all aspects of human resources and training, including payroll, employee relations, compensation and benefits, talent acquisition and retention, as well as performance management, for more than 3,600 team members in 23 states and the District of Columbia. She joined the company in 2015.
Doug Jones has been promoted to chief operating officer of WinnResidential Military Housing Services, the management company for privatized military housing. He had served as an executive vice president of the company since 2016. He is responsible for the strategic direction, bottom-line fiscal accountability and day-to-day operations at more than 40,000 homes at 17 military installations across the U.S., as well as more than 1,600 employees. He joined the company in 2012.
Kirstin Rich has been promoted to executive vice president of WinnResidential Military Housing Services, after serving as senior vice president for the military housing management company since 2015. She is responsible for the strategic support functions for military housing communities nationwide, including technology, facilities, marketing, and operation support. She joined the company in 2005.
Headquartered in Boston, WinnCompanies is an award-winning national developer and manager of high-impact affordable, middle-income, and market-rate housing communities.
Berkadia Affordable Expands Mortgage Banking Team
Berkadia has expanded its affordable housing platform with the addition of three mortgage bankers based in the Southeast. Managing directors Jeff Lawrence, Heather Olson, and Matthew Baptiste bring an average of 18 years of affordable housing financing experience to the team.
The group of top performing mortgage bankers, all of whom were most recently with Walker & Dunlop, will join the platform’s affordable mortgage banking team, which arranged over $1 billion in loans in 2020.
Lawrence has more than 25 years of real estate experience, including originating both market-rate and affordable loans, underwriting, analysis, and portfolio management. He has extensive experience with Fannie Mae, Freddie Mac, and Department of Housing and Urban Development (HUD) loan programs. Prior to joining Berkadia, Lawrence served as managing director/senior vice president at Walker & Dunlop. Prior to that, he was a vice president at CWCapital.
Olson has more than 10 years of real estate experience, specializing in affordable housing debt originations with a focus on developments that utilize LIHTCs and tax-exempt bonds. Before joining Berkadia, she served as senior director with Walker & Dunlop’s multifamily debt team. Since 2012, she has been directly involved in over $1 billion of loan financings from various capital sources, including Freddie Mac, Fannie Mae, life companies, and HUD.
Baptiste has nearly 20 years of commercial real estate experience. He specializes in loan originations through Fannie Mae, Freddie Mac, HUD, and private debt funds. Baptiste has extensive experience structuring complex finance executions, including tax-exempt bonds and federal and state tax credits. Before joining Berkadia, Baptiste served a senior director with Walker & Dunlop’s multifamily finance platform. He has structured and originated over $1 billion of new mortgage debt during his tenure.
Affordable Housing Advisors Hires Director to Lead LIHTC Division
Jeremiah Jarmin has joined the Affordable Housing Advisors of Marcus & Millichap (AHA) as a senior national director, LIHTC. He will oversee a newly branded division of AHA that will focus on the brokerage of LIHTC properties nationwide.
Jarmin began his career as an attorney, specializing in commercial real estate transactions. He spent the last 10 years at a national brokerage firm, where he was the founder and national director of their affordable housing group.
AHA is a leading national firm specializing in the brokerage of affordable housing properties with a focus on the brokerage of project-based Section 8 properties nationally. Since its inception in 1987, AHA has sold over 1,500 properties (230,000 units) for a sales volume of $11 billion.