Yusef Freeman Joins Jonathan Rose Cos.
Yusef Freeman has been named managing director of California for the Jonathan Rose Cos. The affordable housing veteran will lead development and acquisition activities out of the firm’s satellite office in Oakland.
The move expands Jonathan Rose’s West Coast presence. Headquartered in New York, the company is a developer and investor in sustainable, affordable, and mixed-income developments.
Freeman recently served as vice president of investments in the transactions group at PGIM Real Estate, sourcing investment opportunities for the real estate equity platform of the company, with a focus on affordable housing preservation acquisitions. Before that, he was a managing director for McCormack Baron Salazar, leading West Coast operations and new business development nationally for the company.
His development work has included leading the firm’s post-Katrina New Orleans developments, the Alice Griffith Choice Neighborhoods Initiative redevelopment in San Francisco, and the Twin Rivers Choice Neighborhoods Initiative redevelopment in Sacramento.
TWG Announces Development Director
Megan Adams has joined TWG Development as development director to lead the Indiana-based firm in developing affordable communities throughout Washington and Oregon. The company has developed over 9,000 units across the U.S.
Prior to joining TWG Development, Adams served as director of real estate development for Imagine Housing, a nonprofit developer, owner, and services provider working in Washington’s greater Bellevue, Redmond, and Kirkland area. During her five years at Imagine Housing, her team secured the development of 560 new units using 4% and 9% low-income housing tax credit (LIHTC) financing in a high-income, high-cost region.
Flohr Becomes NDHFA Executive Director
David A. Flohr has been named executive director of the North Dakota Housing Finance Agency (NDHFA).
An agency employee for 36 years, he had been serving as interim executive director following the retirement of Jolene Kline last year. He has been the homeownership division director since 2005.
A self-supporting state agency, NDHFA supports the development of and ensures the continued availability of safe and affordable rental housing for vulnerable households including low-wage workers, elderly, disabled, and homeless individuals and families.
Regions Affordable Names VP
Phillip Mullins has been appointed to serve as vice president and relationship manager in the originations group at Regions Affordable Housing.
A longtime Regions Bank associate, Mullins is based in Regions’ Atlanta offices and will focus on sourcing and originating affordable housing transactions throughout the Southeast.
He brings close to nine years of Regions experience to the affordable housing team. He previously worked as a deal manager within Regions’ Real Estate Capital Markets division, where he covered Fannie Mae, Department of Housing and Urban Development (HUD), and CMBS opportunities for clients in Alabama, Louisiana, Mississippi, and Tennessee. He also served in various risk management roles, including vice president of Capital Markets Anti-Money Laundering Compliance and Strategic Compliance Management.Regions Affordable Housing, a division of Regions Bank, is a national LIHTC investor, syndication firm, and leader in affordable housing.
David Dologite Joins Merritt Community Capital
David Dologite has been named director of acquisitions at Merritt Community Capital Corp., a provider of equity capital for affordable housing throughout California.
He brings more than 21 years of experience in the preservation, development, and financing of affordable housing and community facilities in California, Connecticut, Oregon, Massachusetts, and Washington.
He joins Merritt from McCormack Baron Salazar, a national developer of affordable and mixed-income communities, where he served as a project finance executive focused on the West Coast market. Previously he served as housing finance technical director with the California Housing Partnership Corp., providing consulting to the partnership’s governmental and nonprofit clients, totaling over $1.5 billion in equity and debt financing for the development of nearly 3,000 units of low-income housing.
Since 1989, Merritt Community Capital has financed more than 9,000 affordable homes and invested approximately $900 million in 22 separate funds. Merritt is the West Coast member of the National Association of State and Local Equity Funds.
Montgomery Confirmed as HUD Deputy Secretary
Brian Montgomery has been confirmed as HUD deputy secretary, the second most senior official at the agency.
He will manage the day-to-day operations of HUD and will advise and assist secretary Ben Carson in leading the 8,000-member agency.
As commissioner of the Federal Housing Administration (FHA) since June 2018, he has managed FHA’s more than $1.4 trillion mortgage insurance portfolio, which includes its single-family, multifamily, and health-care programs. As assistant secretary for housing, he has overseen HUD’s project-based Section 8 rental assistance housing program, the Office of Housing Counseling, and HUD’s manufactured housing program.
Montgomery had been serving as acting deputy secretary since last year, following the resignation of Pam Patenaude at the end of 2018.