WinnCompanies Names SVP of Asset Management
Twenty years after starting his career at WinnCompanies as a maintenance technician for a medical office building in Brookline, Mass., Timothy Santucci is assuming responsibility for the physical and financial health of the company’s multibillion dollar national portfolio.
Santucci, 41, has been promoted to senior vice president of asset management at the award-winning multifamily development and management company.
He will be primarily responsible for physical and financial strategic planning, quality controls, and tracking performance of the stabilized portfolio owned by WinnCompanies, which currently features 118 properties in 12 states and the District of Columbia, encompassing 14,777 apartments across all income categories and almost 755,000 square feet of commercial space. The position also oversees capital transactions, including refinancing activities, partner/investor buyouts, and assisting with asset dispositions.
Santucci’s first full-time position with the company began in July 2000, when he was hired as a maintenance technician at a Winn-owned property near Boston’s Longwood medical area. In December 2001, he moved over to WinnDevelopment as a project associate, spending four years supporting the company’s development activities and discovering his passion for financial analysis. Since then, he has been a senior financial analyst, associate vice president of finance, and vice president of finance.
National Church Residences Announces Promotion
Sabrina Ridings has been promoted to regional vice president in the National Church Residences affordable housing division, overseeing properties in Arizona, California, Idaho, Indiana, Kansas, Michigan, Missouri, Ohio, Washington, and Wisconsin.
Ridings joined the organization in 2011 and served as a property manager, senior property manager, and, most recently, regional portfolio leader. Prior to her work with National Church Residences, she was a broker and manager with Mossy Oak Properties in Poplar Bluff, Mo.
With 340 communities in 25 states and Puerto Rico, National Church Residences is the nation’s largest nonprofit provider of affordable senior housing and the largest manager of service coordinators.
McCormack Baron Salazar Names VP and Director of Development for Puerto Rico
Antonio Garate has been named vice president and director of development for Puerto Rico at McCormack Baron Salazar (MBS). With 25 years of experience in commercial, residential, institutional, and industrial design and construction management, Garate will lead development efforts for MBS in Puerto Rico.
Most recently, Garate was a partner and senior project architect for Alvarez-Diaz & Villalon, an architecture and design firm based in San Juan and southeast Florida. He has worked closely with MBS in the design and contract administration of Renaissance Square in Hato Rey and Bayshore Villas in Puerta de Tierra, both completed with 314 multifamily units, and the revitalization of the Barrio Turabo community in Caguas.
In Caguas, the construction work on the $133 million investment has resumed after the pandemic lockdown, following all safety measures. Located on vacant land that was previously a public housing site, the new community includes housing options that are affordable to families and seniors with a broad array of incomes. When completed, the 20-acre site in south Caguas will have 238 apartments for families in townhomes and walk-up apartments and a 200-unit apartment building for seniors.
USA Properties Fund Hires President of USA Construction Management
USA Properties Fund, one of the largest apartment community developer-builder-managers in the West, has hired industry veteran Tony Piscitello as president of USA Construction Management.
Piscitello, who has three decades of construction management experience, will oversee USA Properties Fund’s multifamily construction efforts, from predevelopment and construction to turning over the completed projects to property management. He will be involved in both affordable and market-rate communities.
Piscitello succeeds Michael McCleery, who is retiring after 32 years with the company.
Piscitello was most recently vice president of construction for Mill Creek Residential Trust, managing the company’s multifamily construction projects in Portland, Ore. Mill Creek develops, builds, acquires, and operates market-rate apartment communities from California to Washington, D.C. Before Mill Creek, Piscitello was senior project manager for the Holland Partner Group in Vancouver, Wash.
Cinnaire Adds to Mid-Atlantic Team
Cinnaire announced two key appointments in the organization’s Mid-Atlantic office. Azeez Weeks has joined the organization as development manager for Cinnaire Solutions, a newly created position to advance Cinnaire’s Wilmington Priority City initiatives. Matt Hodges has joined Cinnaire as vice president, business funding, leading the development of equity funds in the Mid-Atlantic to support Cinnaire’s affordable housing and community redevelopment efforts.
Weeks will support project management, assist in the development of the Cinnaire Solutions pipeline, and provide leadership and guidance to partners in Wilmington. He recently worked as enterprise mobility manager at Genesis Healthcare. There, Weeks was responsible for leading a team to determine, implement, and manage the corporate strategy and policy for mobile devices. Prior to that position, he worked as a genius lead and business specialist at Apple.
Hodges is charged with raising equity capital and managing investor relationships for Cinnaire’s Mid-Atlantic region. He most recently worked as vice president of institutional sales at Meridian Investments, a national leader in placing corporate investors into tax-advantaged investments.
Portland Housing Authority Welcomes Asset Manager
Affordable housing industry veteran Brian Frost has joined the Portland (Maine) Housing Authority as its new asset manager.
He will collaborate with property managers on asset performance and risk management, as well as oversee the authority’s capital planning, green and energy-efficiency planning, financial repositioning and refinancing, and internal and external compliance reporting and analysis.
Frost began his career in affordable housing at the Maine State Housing Authority in 1992 and transitioned to private management in 1994. In 1996, he began working exclusively with properties financed by the low-income housing tax credit program. Prior to joining the Portland Housing Authority, Frost was senior vice president at Subsidized Housing Partners, where he was responsible for the operations, budget preparation, financial performance, and regulatory oversight and compliance for more than 5,500 low-income housing units.
NDHFA Announce Promotions
North Dakota Housing Finance Agency (NDHFA) has promoted Kim Becker and Terri Mollman to leadership positions in its homeownership division. The state agency offers home buyer education, affordable home financing, and downpayment and closing costs assistance to low- to moderate-income households, primarily first-time home buyers.
Becker was promoted to homeownership program coordinator in May. An NDHFA employee for more than 30 years, she previously served as a program specialist. She now manages the origination staff and oversees the purchase of loans from the agency’s private-sector partners.
Mollman begins as the servicing department coordinator in July. She also previously served as a program specialist. Mollman has been with NDHFA for three years. In her new role, she will manage the servicing staff and the needs of the agency’s more than 11,000 borrowers.
Becker replaces Dean Melgaard, who retired in April. Mollman replaces Brandon Dettlaff, who was named NDHFA’s homeownership division director in June.