CDP Expands Leadership Team
Community Development Partners (CDP) has announced several key appointments.
Sarah Schubert has joined the firm as development director for the Northwest, and Angela Heyward has joined as development director for the Southwest.
In addition, CDP recently named Andy Chung as its director of accounting.
Schubert brings over 17 years of real estate development and finance experience and has worked on affordable housing projects in both Portland, Oregon, and New York City. Most recently, she worked as the director of development for BRIDGE Housing’s Portland office and before that as the director of housing for Human Solutions (now known as Our Just Future), where she oversaw the development, asset management, and resident services teams.
Heyward also brings over 17 years of affordable housing experience and has managed development, finance, property management, and asset management at People’s Self-Help Housing, Cesar Chavez Foundation, and the city of San Francisco. Most recently, she was the interim chief redevelopment officer for Neighborhood Housing Services in Los Angeles.
In his new role, Chung manages CDP’s accounting team out of the California office and oversees all accounting activities, including audits and tax returns. He brings extensive expertise in affordable housing from his prior role as controller of Related California, where he spent the last eight years.
Sherman Associates Announces Promotions
Sherman Associates has elevated Richard Kiemen to chief operations officer, Janelle Hielscher to chief financial officer, and Paula Beck to executive vice president and general counsel.
They will oversee all business entities at the Minneapolis-based company, which has grown to more than 600 team members, over 7,000 multifamily rental units, and over 660,000 square feet of commercial space.
Kiemen is responsible for planning and implementing Sherman’s business strategies, plans, and procedures as well as leading operations of development and construction, multifamily, hospitality and retail operations, facilities, and commercial. His leadership will ensure the development of Sherman’s strategic goals and objectives and the overall management of the organization.
Hielscher oversees finance, accounting, and asset management functions at the company. She will continue to lead the financial reporting and compliance of all divisions, including development, construction, corporate, multifamily and commercial properties, and hospitality and retail operations. Hielscher will maintain communication and relationships with Sherman’s investors, lenders, and partners.
Beck leads the legal, corporate compliance, human resources, and administration functions at the firm. She will continue to provide legal direction to Sherman’s internal teams and lead engagement with outside counsel and other experts to support Sherman’s growth as it expands in the Mountain West region, Milwaukee, Florida’s Tampa, and other new markets.
Ability Housing Names COO
Thomas J. Daly Jr. has been appointed chief operating officer of Ability Housing, a nonprofit affordable housing and service provider based in Jacksonville, Florida.
He oversees the nonprofit organization’s business operations as it expands its portfolio in multiple regions of Florida. He is responsible for managing the property development strategy, including an estimated 375 units of housing anticipated to begin construction this year; asset management policies for the organization’s 800-plus apartments and scattered-site homes across the state; and programs that serve nearly 1,900 residents each day. He will also be instrumental in executing Ability Housing’s business plan and overseeing its financial performance.
Most recently, Daly served as the city of Jacksonville’s chief of the Housing and Community Development Division.
Alta Housing Appoints VP of Property Management
Stephanie Shipe has become vice president, property management, at Alta Housing, where she will manage over 1,000 units and a team of 35 professionals
Shipe brings 15 years of affordable housing property management experience, most recently serving as the director of portfolio management for the Housing Authority of the City of Alameda, California. Earlier, she served as director of operations at MidPen Housing, a nonprofit developer, owner, and manager of affordable housing.
Alta Housing, formerly Palo Alto Housing, owns and operates 29 residential communities and has over 500 units in its development pipeline with five projects in various phases of development in Mountain View, Redwood City, and San Mateo in Northern California.
PEF Advisors Welcomes SVP of Investor Relations
Elaine Philis has been named senior vice president of investor relations at Preservation Equity Fund Advisors (PEF Advisors).
With more than 20 years of experience in investor relations, real estate capital markets, debt, and equity, Philis will oversee investor relations and capital-raising efforts.
Prior to joining PEF Advisors, Philis participated in more than $3 billion of capital raised for projects, including comingled funds, programmatic joint ventures, and individual joint ventures. Institutional investors have included public and private pension funds, insurance companies, endowments, foundations, and sovereign wealth funds.
Since 2016, PEF Advisors has focused on acquiring and preserving existing affordable housing in high-cost markets through private equity funding. It is an affiliate of WNC & Associates.
Capital Markets Veteran Joins Momentus Securities
Mikiyon Alexander has been named head of coverage at Momentus Securities, a mission-driven investment bank. In his new role, he is responsible for providing leadership and delivering long-term sustainable value for Momentus Securities’ clients. Along with this, he pursues business development opportunities and originates new client engagements.
Alexander has spent 18 years of his career in the capital markets focusing on various aspects of affordable housing, community development, and social lending. He was a director in Barclays Capital's public finance investment banking affordable housing group. He served as the head of the community development and social lending group at Fitch Ratings.
Momentus Securities recently launched with the goal of driving institutional capital to impactful investment opportunities. Its services include debt and equity capital raising, asset-backed and structured finance, as well as corporate finance and advisory services, and will be offered across five key segments: affordable housing, health care, education, small businesses, and food.
