Dominium Appoints VP of Capital Markets
Thomas (T.J.) McElroy has been named vice president of capital markets at Dominium, a leading national affordable housing owner and developer.
The Minneapolis-based firm created the position to fill a critical need on its development team, providing an extension of the company’s financing capabilities and enabling the organization to continue to expand its portfolio and grow in key regions across the United States, said officials.
McElroy recently served as senior investment associate on the North American assets team at Castlelake, a global private investment firm. A Dominium alumnus, McElroy worked for the owner and developer as a development intern and a development associate between September 2012 and August 2014.
McCormack Baron Salazar Hires Senior Director of IT
Eric Parsons has joined McCormack Baron Salazar as senior director of information technology, focusing on information security. He will provide thought leadership and be accountable for coordinating, implementing, and continually improving IT security operations.
Parsons will focus immediately on assessing security needs, priorities, and opportunities to create and implement an information security program aligned with the overall IT strategy. He also will focus on end-user information security awareness, disaster recovery, incident response, identity and access management, data loss prevention, and threat detection and response.
Headquartered in St. Louis, McCormack Baron Salazar is one of the nation’s leading developers, managers, and asset managers of economically integrated urban neighborhoods. The firm works in 48 cities and has built more than 24,000 homes for families, children, seniors, and veterans at costs exceeding $4.9 billion.
Merchants Capital Adds to Syndications Team
Merchants Capital has announced three new members of its low-income housing tax credit (LIHTC) equity team.
Josh Reed is senior vice president and leads the firm’s equity acquisitions group that oversees all lower-tier sourcing, pricing, structuring, and closing functions. With over a decade of acquisitions and development consulting experience, Reed has a skill set in both housing finance and construction management. He previously spent 11 years at a national LIHTC syndicator, where he closed and structured over $700 million in lower-tier equity transactions. Prior to that, he managed the construction underwriting department that underwrote and monitored construction for LIHTC projects in 30 states.
Jillian Flynn is vice president and chief equity underwriter. She is responsible for credit, underwriting, and risk management for Merchants Capital’s equity acquisitions and fund offerings and sits on all investment approval committees. Prior to joining Merchants Capital, she spent a decade as a manager in Ernst & Young’s (EY’s) Tax Credit Investment Advisory Services division. While at EY, Flynn completed project assessments for over 750 real estate properties with federal and state monetizable tax credits, including LIHTC and historic rehabilitation tax credits in nearly all 50 states. Flynn also provided accounting and tax advice to some of the nation’s largest investors and opined on real estate underwriting, transaction structure, tax risk, and feasibility for tax credit funds sponsored by the nation’s largest tax credit syndicators. Flynn has also previously held roles at the Massachusetts Department of Housing and Community Development and the Metropolitan Boston Housing Partnership. Flynn will continue to work in Boston.
Lindsey Davitt is vice president of equity asset management, overseeing the equity asset management division. Working from Newport, Rhode Island, Davitt is responsible for managing equity investments in both the development and stabilized phases, including monitoring construction and lease-up, overseeing all third-party compliance monitoring, equity draw requests, investor reporting, and quarterly risk-rating for the LIHTC equity portfolio. Davitt sits on all investment committees and manages Merchants Capital’s asset management technology initiatives. Prior to joining Merchants, she was a senior asset manager at Boston Capital and has previously held asset management positions at CBRE Global Investors.
Merchants Capital is a top lender for the refinance, acquisition, new construction, and substantial rehabilitation of multifamily, affordable, senior, and student housing.
Tiber Hudson Adds Attorney
Elizabeth Weaver has joined Tiber Hudson as a partner in the Washington, D.C.-based law firm.
Weaver focuses her practice on multifamily housing finance and development with an emphasis on affordable housing finance. She served most recently as in-house counsel for Freddie Mac Multifamily’s Targeted Affordable Housing group, where she supported and facilitated a wide range of both taxable and tax-exempt transactions nationwide. Weaver used her extensive experience in multifamily housing finance to contribute to numerous Freddie Mac Multifamily programs.
Prior to joining Freddie Mac, her work in private practice encompassed all aspects of real estate development and financing, including community development loans in the District of Columbia, and construction and stabilization loans for numerous affordable housing properties utilizing tax-exempt bond financing and Federal Housing Administration (FHA) insurance.
Capital Markets Veteran Joins Greystone
Imran Ahmed has joined Greystone, a leading national commercial real estate finance company, as a senior managing director.
In this new role, he will focus on expanding the firm’s corporate finance activities, including development of global corporate and investment banking, and institutional capital relationships which help to power the firm’s growing asset and investment management capabilities and industry-leading lending platform.
Ahmed was most recently at CBRE Capital Advisors, the broker-dealer group within CBRE Group, where he served as an executive managing director within global capital markets. He was previously a managing director and co-head of real estate at KPMG Corporate Finance.
Greystone is a leader in multifamily and health care finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors.
M&T Realty Capital Appoints Managing Director
Zach Casale has been named managing director at M&T Realty Capital Corp. (MTRCC), where he will be responsible for originating agency, FHA, conduit/CMBS, and life company loans across the United States. He is based in Buffalo, New York.
Casale has more than 11 years of experience in multifamily financing and successfully closed in excess of $1 billion in commercial mortgages. He joins MTRCC from Lument, formerly Hunt Real Estate Capital, where he was employed for the past four years as a director, focusing on agency originations and balance-sheet lending nationwide.
A full-service mortgage banking company, MTRCC is a Fannie Mae DUS lender, a Freddie Mac Optigo lender, as well as an approved FHA/HUD MAP and LEAN lender. It also offers life insurance company and CMBS financing through correspondent relationships.
HPC Adds to Team
Bernard Fulton has become the newest member of the Housing Policy Council (HPC) executive team, joining as vice president of government relations. He will help manage all aspects of HPC’s public affairs activities and will be directly responsible for facilitating the organization’s lobbying and related advocacy work on a range of policy issues.
Fulton brings over 20 years of Capitol Hill experience, having worked in a variety of advocacy roles, including policy adviser, legislative analyst, lobbyist, strategist, and political organizer. Fulton joins HPC from the National Association of Realtors, where he served as a senior policy adviser for financial services. Earlier in his career, he was deputy assistant secretary for congressional relations for the Department of Housing and Urban Developmetn (HUD), senior legislative representative for New York City, and as legislative director for U.S. Representative Jan Schakowsky (D-Ill.).
Angel Hernandez has been hired as vice president of capital markets, further expanding the trade association’s executive team. Hernandez will assist in managing all aspects of HPC’s policy development, focusing on mortgage-backed securitization, capital markets, and technology and innovation in housing finance.
Hernandez joins HPC from Ginnie Mae, where he served as the director of MBS programs, leading its stakeholder engagement strategy, policy agenda, corporate governance initiatives, and technology modernization efforts.