Red Stone Hires S.V.P. of Acquisitions
Formed in early 2013, Candeur is an investment banking firm for the affordable housing industry providing consulting, advisory, and investment services to affordable housing developers, syndicators, and investors
Deep Katdare has joined Red Stone Equity Partners as senior vice president of acquisitions. He is based in the firm’s New York office and will focus his low-income housing tax credit (LIHTC) acquisition efforts in the Midwestern states.
Katdare has 15 years of experience in tax credit finance and securitization, including seven years of experience in the LIHTC syndication industry. Prior to joining Red Stone, he worked at Centerline Capital Group where he served as a senior vice president in its LIHTC acquisitions group and later as the director of LIHTC portfolio management.
Preservation Housing Management Names President
Patricia Belden has been named president and CEO of Preservation Housing Management (PHM), a Boston-based firm specializing in the management of affordable multifamily housing.
Belden recently served as managing director and COO of Preservation of Affordable Housing (POAH), a nonprofit developer that is affiliated with PHM. She has been part of POAH since its founding in 2001.
PHM manages more than 8,500 affordable apartments in nine states and the District of Columbia, mostly for POAH, and has a staff of 350.
VOA Adds Development Directors
Two development directors have joined the housing development team of Volunteers of America.
Ronald Wallace will be based in Dallas and will work on project management activities on behalf of the organization in Texas and Oklahoma. Previously, he held positions at the Department of Housing and Urban Development (HUD) and National Community Renaissance.
Neal Lydon will be based in Boston and will provide project management activities on behalf of the organization in the Volunteers of America Massachusetts and Volunteers of America Northern New England affiliate areas. Previously, he was a private development consultant and was also with the Portland (Ore.) Development Commission.
First Sterling Names Director of West Coast Operations
Brian Blanchard, business development officer, is directing the West Coast operations for First Sterling, a LIHTC syndicator.
With 16 years of financial services experience, Blanchard has successfully focused on expanding and managing both investor and developer relationships. Previously, he was a regional vice president and manager of institutional accounts and responsible for sustaining and building relationships with investors at a California-based syndication firm.
NHT Names Policy Director
Ellen Lurie Hoffman has been appointed federal policy director at the National Housing Trust. She will be a critical member of the organization’s policy team, working on numerous issues, including the HUD budget, potential reform of Fannie Mae and Freddie Mac, and maintaining and improving the low-income housing tax credit.
Hoffman worked for the National Council of State Housing Agencies (NCSHA) for nine years, where she analyzed and advocated policy issues on behalf of the nation’s housing finance agencies.
Pepper Hamilton Adds Partner
Judith Kay Crosby has joined Pepper Hamilton as a partner in the law firm’s Affordable Housing and Community Development Group. She is based in the Boston office, but her practice will be nationwide.
Crosby will focus on partnership law, nonprofit law, and equity financing of partnerships and limited liability companies in developments financed by various combinations of federal and state grants, tax credits, bonds, and federally insured mortgage financing.
Prior to joining Pepper Hamilton, Crosby was with Klein Hornig in Boston. Before that, she was senior counsel at Holland and Knight.
Related Beal Appoints V.P.
John “Ted” Lubitz has been appointed vice president of Related Beal, a real estate firm focused on development and investment opportunities in Boston.
Working with both Related Beal and Related Affordable, he will work to maximize affordable housing opportunities and synergies in both affordable preservation activities and market-rate developments. Lubitz’s addition to the team allows Related Affordable to expand its efforts in Massachusetts and the surrounding states.
He recently served as vice president of acquisitions at Boston Financial Investment Management, where he was responsible for managing all aspects of the acquisition cycle while establishing and maintaining relationships with affordable housing developers in the Mid-Atlantic and Northeast.
Vitus Group Adds to Team
Maryanne Speroni has joined Vitus Group as assistant director in its New York office, with primary responsibility for managing the firm’s social impact fund.
Speroni was formerly executive vice president of the Richman Group's agency lending business. Prior to Richman, she was head of the underwriting and performing asset management groups at Centerline.
Bellwether Enterprise Expands East Coast Presence
Paul E. Donahue has joined Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, as senior vice president. He will be based in the newly created Boston office as part of the firm’s production team.
Donahue will focus on loan originations in New England and the New York region as well as national institutional accounts.
He joins Bellwether Enterprise from Centerline Capital Group in Boston, where he was managing director responsible for mortgage banking origination in New England and national institutional accounts.
Firm Rebrands as Candeur Group
The partners of Affordable Investment Advisors have changed their company named to Candeur Group.
"Candeur is a derivation of the word 'candor' and speaks to our core business philosophy of operating in a transparent and sincere manner," says Greg Judge, founding partner and housing credit industry veteran. The leadership team also includes Catherine Talbot and Mike Caliva.
Formed in early 2013, Candeur is an investment banking firm for the affordable housing industry, providing consulting, advisory, and investment services to developers, syndicators, and investors
NYC Partnership Names V.P.
Daniel Marks Cohen has joined the New York City Housing Partnership as vice president—director of real estate development. The Partnership serves as the city’s primary intermediary for the development of new, affordable housing, assisting in the creation of more than 40,000 units in its 32-year history
Cohen was founder and member of Burlingham Capital Partners, a New York-based investment firm dedicated to principal investments in affordable and market-rate housing, as well as real estate development consulting. Previously, he served as a mortgage officer at the Community Preservation Corp., which offers construction and permanent financing to housing owners and developers. Earlier he worked for ING Clarion Partners, the New York City Economic Development Corp., and the Hudson Cos., an affordable and market-rate housing developer.
Love Funding Hires Originations Director
Stuart Gans has become director of originations at Love Funding, a leading provider of Federal Housing Administration (FHA) multifamily and health-care financing.
He will focus on arranging multifamily, health-care and hospital loans across the nation through the HUD mortgage insurance programs.
Based in the Dallas-Fort Worth area, Gans joins the company from LEND USA, a commercial and mortgage lending company he founded in 1992. Under his leadership, the company closed more than $1 billion in loans over a 15-year period, including FHA multifamily, Fannie Mae, and private bridge financing.
Greystone Names Managing Director
Keith Hires has joined Greystone, a provider of multifamily and health-care mortgage loans, as a managing director. He will be focused on providing bridge and mezzanine lending products to borrowers in the Southeast and Mid-Atlantic.
Hires was most recently a managing director at Guggenheim, where he was responsible for building a loan production platform for the company’s Atlanta office. Prior to Guggenheim, Hires served as a managing director at Prudential Financial.