Jimmy Silverwood Becomes President of Affirmed Housing
Affirmed Housing has announced that Jimmy Silverwood will become president of the leading affordable housing firm June 1.
Moving up from executive vice president, he succeeds James Silverwood, who retains his role as CEO. The transition supports the company’s plans for continued growth and commitment to delivering housing and care to the California’s vulnerable populations.
As president, Jimmy Silverwood will leverage more than a decade of real estate and construction expertise to execute the company’s strategic vision and ensure seamless day-to-day operations. His efforts will focus on Affirmed Housing’s impact, growth, and culture, and he will oversee all aspects of the company, including development and acquisition, asset management, finance, and construction. Since he joined the leadership team, Affirmed Housing has experienced a 60% increase in overall production of homes in California, as well as a 150% increase in total funding secured for projects.
Since 1992, Affirmed Housing has financed more than $2.5 billion in affordable and supportive housing development, with 5,500 units developed or under development in 70 communities. The company has offices in San Diego and San Jose.
Rocky Mountain Communities Names VP of Resident Services
Juanita Rodriguez has been appointed vice president of resident services at Rocky Mountain Communities, a Colorado-based nonprofit that owns and manages affordable housing across the state.
Rodriguez is charged with establishing a resident services vision that includes building community partnerships that are aligned in creating resilient, equitable, and vibrant places where people feel encouraged and excited to participate in the life of their community.
She brings more than 20 years of experience in government, nonprofit, and for-profit organizations. Rodriguez has worked at Rocky Mountain SER (Service Employment & Redevelopment) as a project manager, head of development, and corporate risk manager. She also worked at TGS Management, ADP, and for the Pueblo Department of Public Health and Environment.
WNC Forms Preservation Equity Fund Advisors
WNC, a leading affordable housing investment and development firm, has launched a new affiliate, Preservation Equity Fund Advisors (PEF Advisors), a registered investment advisory company committed to acquiring and preserving existing affordable housing in high-cost markets. Ann Caruana has been appointed as president and chief investment officer of PEF Advisors.
She has more than 19 years of direct experience in the multifamily investment sector, including nearly eight years specializing in underwriting and acquiring affordable rental housing
Caruana will lead PEF Advisors after serving more than three years as senior vice president of WNC’s preservation equity funds, where she oversaw the acquisition and asset management teams. Prior to that, she was with a private real estate equity firm, where she specialized in the acquisition of affordable rental apartments generating economic returns, last serving as senior vice president of acquisitions. Caruana also spent nine years with a publicly traded multifamily REIT, where she served in various research and investment roles, including senior director of market research, senior investment analyst, and investment manager.
Lamont Has New Role at TNDC
Katie Lamont has been named chief operating officer at Tenderloin Neighborhood Development Corp. (TNDC) in San Francisco.
She steps into the role following 10 years as director and then senior director of housing development at the nonprofit organization. Prior to joining TNDC, Lamont worked at Eden Housing and the Los Angeles Community Design Center, now Abode Communities.
More than 6,100 people are housed in TNDC’s 44 buildings across the city.
PNC Appoints Community Development Executive
Yolanda “Yoly” Davila has been named PNC Bank’s Southwest territory executive for Community Development Banking, encompassing the states of Arizona, California, Colorado, New Mexico, and Texas.
Davila, who has eight years of experience with PNC and BBVA USA, most recently served as senior vice president and community development market manager for Texas, where she led a team charged with managing Community Reinvestment Act (CRA) performance, volunteerism, community giving, and community lending and investment efforts statewide. In her new role, she will be responsible for leading the regional implementation of PNC’s recently announced $88 billion Community Benefits Plan.
She succeeds Reymundo “Rey” Ocañas, who has become the bank’s director of Community Development Banking.
Avanath Expands Leadership Team, Names Youngest Partner
Wesley Wilson, chief financial officer, has been promoted at Avanath Capital Management, making him the youngest partner in firm history.
Based in the company’s Irvine, California, office, Wilson is responsible for managing the firm’s new open-ended fund with over $536 million in equity commitments, serving as the firm’s sole investment vehicle moving forward. Coupled with his duties as partner, Wilson will continue to oversee accounting, asset management, finance, and investor relations as the company’s CFO.
Patricia Gaudin has also been promoted from senior vice president of human resources to executive vice president of HR. She is responsible for creating Avanath’s strategic road map for all human capital initiatives.
In addition, Avanath has promoted Scott Gordy from director of applications to vice president of applications. Cheray Smith has been promoted from director of tax to vice president of tax. Jesse Graser has been elevated from vice president of accounting to senior vice president of accounting.
Risha Williams has been hired to serve as senior vice president of property management East, leading property operations in the Northeast, Mid-Atlantic, Southeast, and Midwest regions. Williams brings 23 years of experience working in property management and government subsidy programs.
M&T Realty Capital Names SVP
Michael Jean-Pierre has been appointed senior vice president at M&T Realty Capital Corp. Based in the New York City office, he joins the capital markets team and will be responsible for MBS investor relations, loan pricing, trading, and key capital markets initiatives to support originations across the platform.
Jean-Pierre has over 10 years of experience in multifamily financing. He joins M&T RCC from Capital One, where he spent the past five years as a senior manager on the agency capital markets team focused on pricing and trading multifamily securities. Earlier, he was a Freddie Mac Multifamily producer in the Northeast regional office, overseeing originations and the underwriting process for several lender relationships, generating $2 billion of annual volume.
Cassin & Cassin Announces Promotions
Cassin & Cassin, a law firm specializing in real estate, real estate finance, and private client matters, has named Cassia Schaeffer and William McConnell partners, and Christopher Cosolito has been promoted to counsel.
As a member of the firm’s agency lending and affordable housing practices, Schaeffer will continue to represent institutional lenders in the financing of multifamily properties through the Fannie Mae Delegated Underwriting and Servicing (DUS) program and the Freddie Mac Seller-Servicer program, including working on a variety of affordable housing transactions, manufactured housing transactions, and multistate portfolios with various lenders in the government-sponsored enterprise lending space. In addition, she represents and counsels clients in connection with bridge loan lending and assignments of mortgages.
McConnell will continue representing institutional lenders in closing commercial real estate loans intended for securitization or other sales on the secondary market. As a key advisor in the firm’s industry leading commercial mortgage-backed securities (CMBS) and bridge lending practices, he counsels clients, including lenders, servicers, and borrowers, in connection with secured commercial lending facilities, mortgage-backed securities, and commercial real estate lending. In addition, he has represented and counseled clients in all aspects of commercial real estate transactions, including mortgage origination, financing, leasing, partnerships, loan modifications, workouts, and foreclosures.
Cosolito, a member of the firm’s CMBS and bridge lending practices, will continue to represent institutional lenders in closing commercial real estate loans intended for securitization or other sale on the secondary market.
Manatt Expands Tax Credit Capabilities
Sameer Patel has joined Manatt, Phelps & Phillips, a multidisciplinary, integrated professional services and law firm in Chicago.
Patel’s practice is focused on the syndication of New Markets Tax Credits. His work includes guiding clients through Opportunity Zone investments as well as low-income housing and historic rehabilitation tax credit matters.
Prior to joining Manatt, Sameer was a partner at an international law firm, where he concentrated his practice in tax incentive financing.
Kitchen & Associates Appoints Managing Principal
Matthew Bartner has been named managing principal at Kitchen & Associates (K&A), a leading multidisciplinary design firm. Bartner, who previously served as principal and director of operations, succeeds Stephen L. Schoch, who will remain a principal of the firm.
As managing principal, Bartner, AIA, is responsible for maintaining the firm’s position as a leader of integrated design services across key markets and verticals. He and the executive leadership team will be particularly focused on growth in the affordable and student housing sectors, where K&A has a sizable presence, as well as increasing the firm’s presence in other key markets.
DCHFA Names VP, Controller
Rosemarie Warren has joined the District of Columbia Housing Finance Agency (DCHFA) as vice president of accounting and controller. In this role, she is responsible for all accounting operations and establishing and maintaining controls over disbursements and receipts activity.
Warren has more than 10 years of experience as a bank controller. Previously, she has served as the vice president and controller at both Congressional Bank and Colombo Bank, and she was a former partner of Goodman & Co.