Beacon Residential Management Welcomes New President
Christopher Reed has been named president of Beacon Residential Management, the property management company of Beacon Communities.
Reed will be responsible for the overall strategic direction, operation, and profitability of Beacon’s property management arm and real estate portfolio. As part of this work, he will be focused on the enhancement of resident satisfaction, resident services, and employee engagement.
Reed most recently served as executive vice president, property management, at Mercy Housing Management Group, where he served as a senior leader for 15 years. While at Mercy Housing, he provided management oversight of property management operations for an affordable residential portfolio of 330 communities, comprising 24,000-plus units, in 20 states. Reed previously held leadership roles at Equity Residential Trust, Lexford Residential Trust, and Lexford Properties.
Reed’s hiring marks the end of a national search for a new president, following the departure of longtime leader Darlene Perrone.
L+M Development Announces Senior Leadership Moves
L+M Development Partners has announced several changes to its senior leadership team as the firm moves to advance operations and grow its portfolio in the New York area and nationwide.
Spencer Orkus, who has been with L+M since 2007, will serve as president of development, where he will oversee L+M’s affordable and mixed-use projects. L+M tapped longtime senior vice president Amy Cordone to be chief operating officer (COO), where she will continue to drive strategic priorities and business planning, focus on culture and alignment across teams internally, and collaborate with executives across the company’s verticals. Nikki Wernick has been named executive vice president of C+C Apartment Management, L+M’s management subsidiary, which is responsible for overall maintenance and resident experience across its properties.
Orkus, who has been with L+M for more than 15 years, also holds the title of partner at the firm. During his time at L+M, he has developed over 5,000 new affordable construction units within various mixed-use projects, compiling over $2.5 billion in financing resources. Orkus spearheads L+M’s efforts to provide housing developments that are centered around healthy communities and are energy-efficient and resilient to climate change. He has led L+M’s venture into a new era of sustainable construction, having overseen the development of the firm’s first passive house project with geothermal heating and cooling, and with many more similar projects in the pipeline.
As COO, Cordone will chair the business operations team and lead the communications and marketing, insurance risk management, operations, and workforce and contractor diversity departments. With more than 25 years of industry experience, she brings an in-depth understanding of the business. Since joining L+M in 2014, Cordone has been responsible for managing the operations of the builders group, collaborating with teams to solve business challenges around process improvements and operational efficiencies. She also launched the workforce and contractor diversity group.
Wernick has held several senior leadership positions at C+C Apartment Management since joining the firm in 2014, and, as executive vice president, she will be responsible for directing the property management vertical. She will oversee the leads for property operations and the key functions that support properties such as residential compliance, residential leasing, social services, and building operations. Wernick’s portfolio includes over 80 properties and 20,000 units across New York and New Jersey.
Woda Cooper Cos. Updates Company Leadership
Woda Cooper Cos., a leading affordable housing developer and owner, has announced three moves in its company leadership.
Bruce Watts, vice president—development, who has been with the company since 2012 and manages the company’s Norfolk, Virginia, office takes on additional duties as the company’s chief diversity officer.
He will guide diversity, equity, and inclusion policies and practices for the company to ensure fair and equitable treatment for employees and subcontractors regardless of gender, race, sexual orientation, age, or disabilities.
Frank Yankovich has joined the company as chief financial officer (CFO) and will be responsible for all of Woda Cooper’s finance and accounting operations. He will lead a team of approximately 40 employees in the company’s development, construction, property management, and corporate accounting departments.
He has more than 35 years of accounting, financing, and operating experience, including serving as CEO of SafeRent Solutions and CFO at CBC Cos. He is based in Columbus, Ohio.
Paige Woda has been promoted to acting people ops director and is responsible for overseeing human resources functions, including onboarding, benefits, talent management and performance, and employee experience.
Based in Columbus, Woda started her career in human resources in 2018 in the hospitality industry and joined Woda Cooper in 2020.
LIHTC Industry Veteran Joins CREA
Mindy Rex has been named managing director, originations, at CREA, a low-income housing tax credit syndicator. She joins the firm to oversee and expand its nationwide originations platform.
Rex brings more than 24 years of experience to her new role, recently serving as president and CEO of a consulting firm that saw her work closely with real estate investors and housing-focused public entities to guide development strategy and originate complex debt and equity structures for various multifamily developments. Prior to that role, she spent seven years as the COO of an accomplished development company, where she led the financial structuring, project management, and debt and equity closings on over 90 affordable housing communities.
Colliers Names VP, Production
Colliers Mortgage, the debt financing arm of Colliers | U.S., has hired Noah Reischmann as vice president, production. Located in San Francisco, he will focus on originating loans nationwide.
Reischmann brings over 18 years’ experience, having originated over $1 billion in Department of Housing and Urban Development-insured financing throughout his career. He previously worked at CBRE Capital Markets and Deutsche Bank Berkshire Mortgage.
Florida Housing Names New Leader
Michael DiNapoli has been appointed executive director of the Florida Housing Finance Corp.
He previously served as the director of small and minority business capital for the Florida Department of Economic Opportunity, where he oversaw key business lending programs, venture capital, and small and minority business programs. He was also responsible for the Homeowner Assistance Fund and the Emergency Bridge Loan program when activated through executive order by the governor. In addition to his role at the agency, DiNapoli serves as chairman of the Florida Development Finance Corp. and board member for First Housing Development Corp.
Florida Housing’s board of directors formally approved the appointment after DiNapoli was recommended by Gov. Ron DeSantis.