In Memoriam: Dan Fauske
Dan Fauske, former head of the Alaska Housing Finance Corp. (AHFC), died April 5 after a battle with cancer. He was 66.
State lawmakers approved legislation to dedicate AHFC’s Anchorage headquarters in his name.
Fauske led the housing agency for 18 years before resigning in 2013. He jointly served as president of the Alaska Gasline Development Corp. (AGDC). Affordable housing and pipelines may seem like an odd pair, but AGDC was formed as a subsidiary corporation of AHFC during the state 2010 legislative session. With its expertise in project oversight and state finance, the housing agency was selected to lead the pipeline project team.
Fauske resigned from AGDC in 2015.
State leaders paid tribute to his many accomplishments.
“His work helped generate millions of dollars in construction projects and affordable housing for countless Alaskans,” said Alaska Gov. Bill Walker in a statement. “Dan was greatly respected by lawmakers on both sides the aisle – both as a friend and a colleague.”
State Rep. Mike Chenault knew Fauske for more than 17 years. In a recent House floor speech, he recalled how Fauske was once described as Superman for taking on two enormous jobs at the same time.
“Dan always answered the call and was ready to assist in any way possible,” he said. “There isn’t a community in this state from Barrow to Unalaska to Ketchikan to Southcentral Alaska that has not been affected by Dan Fauske through his days as financial director of the North Slope (Borough) through AHFC or AGDC.”
Jayachandran Joins VOA
Priya Jayachandran has been named senior vice president for affordable housing development at Volunteers of America (VOA).
She joins the organization after recently serving as deputy assistant secretary for multifamily housing at the Department of Housing and Urban Development (HUD). She joined HUD in September 2014 as a senior policy adviser on the Federal Housing Administration’s work on low-income housing tax credits. Later the same year, Jayachandran assumed acting directorship of the program administration for multifamily.
Prior to joining HUD, Jayachandran spent over 15 years in community development real estate banking in New York and Washington, D.C., at both Citi and Bank of America. She has also worked for the Inter-American Development Bank in La Paz, Bolivia, as a consultant to women’s microcredit organizations; Credit Suisse as an investment banking analyst; and former California State Treasurer Kathleen Brown as a capital fellow.
VOA owns nearly 20,000 units of affordable housing across the country.
Veteran Developer Joins Related California
Meea Kang has joined Related California as a senior vice president.
Based out of the San Francisco office, she will work with the company’s senior leadership team on business development, strategic planning, and creative financing mechanisms for affordable housing.
Kang brings more than 20 years of experience in affordable housing finance and development. She has entitled and developed more than 2,500 affordable multifamily housing units in California. Kang’s expertise includes navigating California’s complex land-use entitlement processes, forging innovative public-private partnerships, and structuring multilayered financing, to bring difficult projects to fruition.
Prior to joining Related, Kang was president and co-founder of Domus Development, where she led the company’s development activities for 15 years.
Related California, the West Coast affiliate of Related Cos., is a fully integrated real estate firm that develops multifamily residential and mixed-use properties in California.
Guardian Appoints Senior Project Manager
Kris Bryant has been named senior development project manager at Guardian Real Estate Services.
Before he joined Guardian, Bryant was senior finance project manager at the Housing Development Center (HDC) in Portland, Ore., where he worked with nonprofits and housing authorities to develop and preserve affordable housing and community facilities. Before moving to Portland in 2015, he worked as a development manager at the Atlanta office of national nonprofit Mercy Housing, where he managed the financing of housing for seniors and working families. Bryant’s experience also includes working at The Dawson Co. in Atlanta, where he managed more than $350 million in urban infill, mixed-use, and transit-oriented projects in Atlanta, Baltimore, and Cincinnati.
Portland-based Guardian is a leading management, development, and investment firm in the Pacific Northwest.
Jamboree Names SVP
Michael Massie has been appointed senior vice president, finance, at Jamboree Housing, an Irvine, Calif.–based nonprofit affordable housing organization.
In this newly created position, Massie will be charged with identifying and securing new sources of capital and revenue, including alternative funding and financial services businesses to support Jamboree’s mission to provide a diversity of affordable housing and services.
Massie will work in concert with Marcy Finamore, executive vice president and CFO, and Welton Smith, senior vice president, development. The strategic finance team will, among other measures, establish an affordable housing loan fund to leverage outside capital sources such as foundations, Community Development Financial Institution Funds, and private equity providers.
Massie previously served as Jamboree’s director of housing development from 2008 to 2014 and before that as senior project manager from 2005 to 2008. He left Jamboree in 2014 to pursue executive opportunities with Related California and the Picerne Group, both major builders of multifamily housing.
Jamboree has $280 million in affordable housing projects in its development pipeline and a $1.1 billion asset portfolio that includes the development of and/or ownership interest in more than 8,200 homes in more than 88 California communities.
Hebner Named CFO at Enterprise
Sally Hebner has been promoted to CFO at Enterprise Community Partners.
In her new role, Hebner will focus on maintaining Enterprise’s strong balance sheet so that the nonprofit has the flexibility to pursue new opportunities in a challenging federal budget environment. Hebner had been serving as senior vice president and interim CFO and brings to her new role more than 25 years of experience in real estate accounting and finance, including over a decade at Enterprise.
Hebner joined Enterprise in 2005 as the controller for asset management and syndication and was promoted to senior vice president in 2013. She has held a number of positions in both finance and asset management, providing all housing credit-related activities with an important business perspective as well as playing a critical role in business process and technology systems improvements.
More recently, Hebner oversaw the financial functions for Enterprise’s housing credit, mortgage, development, and other product lines, and served as the business liaison to the information technology team, leveraging digital technologies and platforms to enhance Enterprise’s efficiency, transparency and capacity to provide excellent customer service.
Walker & Dunlop Adds to Team
Matt Naish has joined Walker & Dunlop’s multifamily finance group as senior vice president. Based out of the firm’s San Francisco office, he will use Walker & Dunlop’s relationships with Fannie Mae, Freddie Mac, and HUD to originate multifamily loans.
Prior to joining Walker & Dunlop, Naish was director of affordable housing finance at Berkeley Point Capital. He previously held multiple roles with HUD, where he developed an expertise in affordable housing policy and FHA multifamily products.
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Md., is one of the largest commercial real estate services and finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties.
Cinnaire Announces Promotion
Ryan Robinson has been promoted to senior vice president, asset management-risk management, at Cinnaire.
Robinson began his career at Cinnaire as an asset manager in 2011 and was then promoted two years later to vice president of fund management and was responsible for managing more than 60 multi-investor, proprietary, and guaranteed funds.
In 2015, Robinson's role was expanded as vice president of asset management. In this role, he worked with staff in six offices covering 12 states to manage Cinnaire's portfolio of more than $3 billion. In addition to the various positions he has held, he has taken a lead role in the Cinnaire Managers Group, establishment of the Staff Engagement Committee, and various other initiatives.
Robinson began his professional career at Plante Moran, working as an auditor specializing in real estate and affordable housing. Prior to joining Cinnaire, he served as the controller of a Lansing, Mich.–based mutual insurance company.