Todman Becomes HUD Deputy Secretary
Adrianne Todman has been sworn in as deputy secretary of the Department of Housing and Urban Development (HUD). The Senate confirmed her to the post June 10.
She takes over her new role after serving as the CEO of the National Association of Housing and Redevelopment Officials since 2017. Before that, she was executive director of the District of Columbia Housing Authority.
Earlier in her career, Todman served in several positions at HUD. First, she was a manager of the agency’s $500 million grant competition that focused on the redevelopment of distressed public housing sites and then as a policy aide in both the Office of Public and Indian Housing and the Office of the Secretary, where she worked with staff across HUD’s programs on policy solutions and streamlining implementation.
Beacon Communities Promotes Two to Senior Vice President
Andrea Orio has been promoted to senior vice president of administration and compliance, and Gary Dufresne has been promoted to senior vice president of capital planning and management at Beacon Communities.
Orio has been with the firm for over 25 years. Prior to her promotion, she led the compliance department as vice president, overseeing high-level compliance for over 19,000 units. As senior vice president, she will oversee the newly formed compliance and administration department. Orio will work with her team to develop a long-term strategy to create policies and procedures to support property teams in daily operations and duties. She will also continue to oversee the compliance department.
Dufresne has been with the company for nearly a decade. In his new role, he will be responsible for evaluating capital improvement and physical infrastructure needs and requirements throughout Beacon’s portfolio of properties. Dufresne and his team will be responsible for due diligence of portfolio property acquisition, establishing and updating capital policy and processes and supporting project managers. Prior to his new role, he served as senior director of operations.
Headquartered in Boston, Beacon Communities develops, acquires, invests in, and manages a wide range of multifamily housing. The firm’s portfolio includes affordable, market-rate, and mixed income-housing, and its developments range from new construction to historic adaptive reuse to the renovation of existing housing.
Industry Veteran Joins R4 Capital
Paul Bernardin has been named executive vice president, chief credit officer, and director of underwriting at R4 Capital. He is based in the firm’s Boston office.
He will oversee the investment underwriting and risk management functions across the company’s low-income housing tax credit (LIHTC) equity and tax-exempt debt businesses. As director of underwriting, he will work closely with staff and the firm’s investment committee to oversee the due diligence of all proposed investments, including construction, environmental, and insurance risk management.
Prior to joining R4, Bernardin spent 11 years as a senior executive at Boston Capital, most recently as senior vice president and director of underwriting, during which time he underwrote and approved more than $1.9 billion in affordable housing investments and was a voting member of the firm’s investment committee. Earlier, as vice president and assistant director of asset management at Boston Capital, he managed a team of 23 real estate professionals and a portfolio of 950 properties representing $6 billion in affordable housing investments. Earlier in his career, Bernardin served as a vice president at JPI.
CREA Names Chief Information Officer
Andy Dalton has been appointed managing director, chief information officer (CIO), at CREA.
In this newly created position, Dalton will be responsible for spearheading the leadership, mentorship, and vision of the firm’s information technology department. In addition, he will act as a liaison among the department, senior management, and all regional offices.
Most recently, Dalton was CIO at a local automated supply distribution company, where he was responsible for overseeing all technology operations, development and innovation. He was named the 2020 CTO of the Year by the Indianapolis Business Journal.
Headquartered in Indianapolis, CREA specializes in LIHTCs, raising over $7.1 billion in equity from investors.
Tiber Hudson Adds to Team
Patrick Evatt has been named a partner and Scottland Glenn an associate at Tiber Hudson, a Washington, D.C.-based law firm.
Both will focus on representing institutional lenders on balance-sheet and agency loan executions for affordable housing projects across the country.
Prior to joining Tiber Hudson, Evatt served as associate general counsel to Freddie Mac, where he provided legal support and counsel to the targeted affordable housing product lines within the company’s multifamily business. Among other things, he helped develop new products, such as Freddie Mac’s mezzanine financing pilot, and played a key role in the GSE’s reentry into the LIHTC market.
Glenn was previously an associate at Kantor Taylor, where he had a real estate finance practice primarily counseling affordable housing developers at each stage of real estate development, from acquisition to permanent financing, offering a unique perspective to our clients.
Founded in 2017, Tiber Hudson provides legal services in all aspects of tax-exempt and taxable debt financings for multifamily housing and health care facilities around the country.
Nixon Peabody Names Community Development Finance Leader
Matthew Mullen has been appointed head of Nixon Peabody’s community development finance practice. Based in the law firm’s Washington, D.C., office, he represents tax credit investors and developers seeking to use a variety of financing tools and advises clients in all aspects of project development.
Mullen, who joined Nixon Peabody in 2013, succeeds Gregory Doran as practice group leader. Doran is serving on the firm’s management committee as a strategic impact partner, while continuing to practice as a leading authority on community development finance.
Nixon Peabody’s community development finance practice focuses on low-income, New Markets, historic rehabilitation, and renewable energy tax credits.