BRIDGE Names President of CDFI Affiliate
BRIDGE Housing has appointed Monica Edwards as president of BRIDGE Impact Capital, its Community Development Financial Institution affiliate.
She will be responsible for raising capital for real estate developments that improve affordable housing, educational, health, and economic opportunities for low-income communities.
Previously, Edwards had been president of The Monarch Group, a consultancy providing structured finance and portfolio management to institutional clients, with a specialty practice in New Markets Tax Credits and economic development. While there, she secured more than $225 million in local, state, and federal subsidies for businesses and real estate development projects with over $1 billion in total development costs. She has served as chief investment officer for ICA Fund Good Jobs, which invests in high-growth small businesses to create accessible good jobs. Earlier, she was vice president at Citibank Community Development Investments.
San Francisco–based BRIDGE Housing is a top nonprofit affordable housing firm. It owns approximately 11,000 affordable housing units in the West.
TCB Names VP of Design and Construction Services
Jeff Heisler, a longtime employee of The Community Builders (TCB), has been named the organization’s vice president of design/construction services.
He is responsible for the staffing and management of the design and construction services team. His team works to provide support to the regional development staff in the areas of planning, budgeting, design, and construction management.
In addition, Heisler is responsible for ensuring that TCB’s standards and best practices for the physical development of projects are consistently applied while working with other departments within the organization, particularly property and asset management.
Heisler is a licensed, professional engineer and has expertise in environmental remediation and management, geotechnical engineering, as well as site civil design.
Boston-based TCB is a leading nonprofit real estate developer. It owns or manages 11,000 apartments in 14 states.
Colliers Expands Affordable Housing Team
Two industry veterans have joined Colliers International as the firm grows its affordable housing platform.
John L. Nguyen, senior vice president, joins after spending nearly 16 years at Marcus & Millichap. Jesse Elsanhuty, vice president, also joins from Marcus & Millichap. Both will be based in Collier’s Irvine, Calif., office, but their focus will be national in scope.
They are joining forces with Colliers’ affordable housing brokers Kevin Morris in Fort Lauderdale, Fla., and Jim Lampman in Seattle to form the core of the brokerage firm’s first national team specializing exclusively in affordable housing.
Combined, the team has more than 50 years of affordable housing experience, having transacted more than $1 billion during their time in this part of the industry. Team members specialize in Sec. 8, Sec. 202, state agency, and value-add affordable projects.
CBRE Affordable Adds to Team
Blake Ilgenfritz has joined CBRE Affordable Housing team as vice president of debt and structured finance.
He will manage transactions from engagement to closing utilizing his extensive knowledge of Freddie Mac, Fannie Mae, and Federal Housing Administration loan programs.
Prior to joining CBRE, Ilgenfritz served in various underwriting and origination roles with Prudential Mortgage Capital Co.'s affordable lending platform. During this tenure, he specialized in the structuring of mortgage loans and credit enhancements for transactions, including tax-exempt bond, low-income housing tax credit, and Sec. 8 projects. CBRE Affordable Housing is a specialty group within CBRE Group, Inc. that combines investment sales, debt and structured finance.
Finlay Management Names President
Holly Costello has been appointed president and COO of Finlay Management, a multifamily property management firm with offices in Florida, South Carolina, and Texas.
A 25-year veteran of the multifamily real estate industry, Costello has held executive-level positions with some of the nation’s leading property management firms, including Balfour Beatty and Walden Residential. Her expertise covers all residential asset classes, including affordable, conventional, military, and student housing.
Finlay Management has almost 40 years of experience in the market-rate, senior and affordable housing sectors.