Pennrose Appoints VP of Operations
Carmen Hendrickson has been named vice president of operations at Pennrose, where she will oversee the firm’s management portfolio in the New England, New York, and Northern New Jersey regions.
Hendrickson brings nearly 15 years of experience in property management, including all aspects of affordable housing, market-rate housing, and retail. Most recently, she served as vice president of affordable housing for Phipps Housing Services in New York, where she oversaw compliance managers, leasing coordinators, and property managers to ensure the financial health of the organization, maximize occupancy and lease-up rates, foster positive resident relations, and ensure compliance.
She also previously held property management positions with The Moinian Group and The Michaels Organization.
Pennrose develops and operates conventional, affordable, mixed-income, and mixed-use communities throughout the United States.
CPC Mortgage Announces President
Nicole Ferreira will join CPC Mortgage Co. as its new president in July.
In her new role, Ferreira will lead the nation’s only mortgage company comprised of impact-driven, nonprofit mortgage lenders and investors. This innovative model leverages the expertise of its owners, Cinnaire, Community Preservation Corp., and National Equity Fund.
Most recently, she served as executive vice president of development at Beacon Communities, where she oversaw the development of affordable housing throughout New York and Connecticut.
Ferreira has also served as senior vice president of multifamily finance and development at the New York State Homes and Community Renewal (HCR), where she oversaw all housing finance agency multifamily lending and debt issuance. Before joining HCR, she was executive vice president for real estate development at the New York City Housing Authority (NYCHA), where she closed one of the largest public housing revitalization transactions in the country and led the team responsible for creating the 10-year strategic plan to repair NYCHA’s aging building stock and stabilize the agency’s finances.
Ferreira will take over the president’s post at CPC Mortgage from John Cannon, who is retiring at the end of the 2023 fiscal year in June. Cannon joined the firm as its first president in 2019, following a 35-year career that included senior leadership positions at Freddie Mac, Berkadia, Capmark, and GMAC Commercial Mortgage.
Gilbane Development Names Affordable Housing Team Leader
Yarojin “Roj” Robinson has been appointed senior vice president of Gilbane Development Co., the real estate development, financing, and ownership arm of Gilbane. In his new role, he is responsible for leading the company’s mixed-income and affordable housing team.
Robinson has extensive financial and leadership expertise, recently serving as managing director at Goldman Sachs in New York, where he was a senior leader in the Urban Investment Group, sitting on the investment committee as well as the business’ leadership and strategy team.
He has led the closing of over $2.5 billion of equity and debt financings ranging from traditional and Opportunity Zone equity investments to construction and bridge debt products to low-income housing and other tax credit equity investments.
Earlier in his career, Robinson worked as a corporate and real estate attorney in New York at Cravath, Swaine & Moore as well as Sullivan & Cromwell. He serves on the board of directors of the Greater Jamaica Development Corp.
Greystone Housing Impact Investors Names Managing Director
Jason R. Kaye has joined Greystone Housing Impact Investors (GHI) as a managing director. Based in Fort Lauderdale, Florida, he will focus on originating and structuring tax-exempt loan and bond financing transactions, including construction financing for affordable multifamily and low-income housing tax credit properties.
Prior to joining GHI, Kaye was a senior vice president at Regions Bank, where he handled debt and tax credit equity, transaction structuring, and loan executions for local and national affordable housing developers. He has also served as a senior vice president at Bank of America in community development banking.GHI is an affiliate of Greystone, a leading commercial real estate finance company.
Rural Housing Developers, Trinity Housing Welcome Brookshire
Will Brookshire has joined Rural Housing Developers as chief financial officer. He will also serve as a consultant for Trinity Housing Development. The firms are based in Springfield, Missouri.
Brookshire has spent over 16 years in public accounting, providing assurance and consulting services to affordable housing developers. He’s also been an audit partner with Tidwell Group.
He has worked with multifamily owners, developers, and contractors on projects utilizing low-income housing and historic tax credits, and U.S. Department of Agriculture Rural Development programs.
