Jamboree Hires V.P. of Housing Development
Welton R. Smith has been named vice president of housing development at Jamboree Housing Corp. He will oversee all aspects of the firm’s development operations, including land acquisition, entitlement, planning and design, and construction.
Smith’s affordable housing experience includes recently serving as senior vice president of development at Palm Communities. Before that, he served as senior vice president of development at National Community Renaissance.
Headquartered in Irvine, Calif., nonprofit Jamboree has $233 million in affordable housing projects in its development pipeline and a $1 billion asset portfolio that includes the development of and/or ownership interest in more than 7,400 homes in 75 California communities.
Love Funding Announces Originations Director
Ann Bolen has joined Love Funding as a director of originations. Based in Norfolk, Va., she will focus on arranging multifamily loans throughout the country through mortgage insurance programs offered through the Department of Housing and Urban Development (HUD).
Bolen brings nearly three decades of mortgage financing experience, much of it in multifamily, with the Virginia Housing Development Authority, where she originated more than $250 million in multifamily loans across the state.
She is a Certified Mortgage Banker through the Mortgage Bankers Association.
NHP Foundation Appoints V.P.
Mecky Adnani has become vice president of acquisitions at The NHP Foundation (NHPF).
Prior to joining NHPF, she directed the acquisition and preservation activities for The Community Builders, one of the nation’s largest nonprofit developers. For more than a decade, she oversaw the firm’s activities across its Northeast, mid-Atlantic, and Midwest regions.
Headquartered in New York City with offices in Washington, D.C., NHPF is a nonprofit corporation founded to preserve and create affordable multifamily rental housing for low- and moderate-income families and seniors.
U.S. Bank Names Northern California Leader
Cathy Danigelis has been promoted to lead the Northern California offices of U.S. Bank’s affordable housing lending group, U.S. Bank Community Lending Division.
Previously regional manager for the Pacific Northwest, she now oversees division offices in San Francisco and Sacramento, Calif., as well as Portland, Ore., and Seattle, where Danigelis is based.
The division provides financing for the construction, rehabilitation, and acquisition of rental housing for low- and moderate-income individuals and families. One of the nation’s top lenders in this space, the group originated nearly $1.1 billion last year in loans to support the development of affordable housing across the country.
Attorneys Move to New Firm
Five real estate attorneys whose practice is focused on community development and affordable housing has joined Barnes & Thornburg’s Columbus, Ohio, office.
Laing Akers, Holly Heer, Erik Rickard, Bryan Venesy, and Phil Westerman come to the firm from Squire Patton Boggs, where they built a team involved in all aspects of real estate transactions, including extensive experience with community development, affordable housing, and New Markets Tax Credits.
“This high-caliber group is at the forefront of innovative legal work in the real estate industry, ranging from tax credits to project development,”says Don Williams, chair of Barnes & Thornburg’s Real Estate Department. “Each attorney brings a skill set that will enhance our ability to represent owners, lenders, investors, developers and tenants in regional and national projects and transactions.”
CPC Adds to Team
The Community Preservation Corp., a leading nonprofit affordable housing and neighborhood revitalization lender, announced the following additions to its staff:
- Wanda Chin, chief credit officer—Chin joins CPC from the Low Income Investment Fund, where she served as the chief credit officer for two years. Before that, she worked at JPMorgan Chase Bank, where she worked as the senior credit executive for the Commercial Real Estate Banking’s Northeast Region.
- Matthew L. Nelson, vice president and mortgage officer—Nelson worked with CPC over the past few years in his former role as the deputy commissioner and president of the Office of Community Renewal at NYS Homes and Community Renewal (NYSHCR), where he was part of the agency’s senior leadership team and administered a variety of statewide housing and community development programs. Prior to working at NYSHCR, Nelson was a member of Gov. Andrew Cuomo’s senior staff. He will work in CPC’s Albany office.
- Nick Friend, mortgage officer—Before joining CPC, Friend worked as an associate at Citi Community Capital. Before attending Columbia Business School, he worked as a project manager in the capital program division of the New York City Economic Development Corp. He will be based in New York City.
TCB Announces S.V.P. of Property Management
Maria Pietroforte has become senior vice president of property management for The Community Builders, one of the nation’s leading nonprofit developers of affordable and mixed-income housing.
She will serve on the firm’s leadership team and direct operation of a residential real estate portfolio that includes family, seniors, and mixed-use developments in 14 states and Washington, D.C.
Prior to joining Boston-based TCB, she served as senior vice president of property management for Corvias Group in East Greenwich, R.I. Her previous experience also includes senior leadership roles at Kettler, E & S Management Corp., and Move.com.
Greystone Hires Managing Director
Nikhil Kanodia has joined Greystone as a manager director.
He will focus primarily on managing client relationships with various real estate owners, originating loans, and identifying opportunities for new initiatives in the marketplace.
Greystone provides mortgage finance solutions across multiple platforms, including Federal Housing Administration, Fannie Mae, Freddie Mac, Department of Agriculture, commercial mortgage-backed securities, bridge, mezzanine and other proprietary loan programs.
Montroy Andersen DeMarco Names Studio Director
David J. Stuart, AIA, has joined the New York City architecture, design, and planning firm of Montroy Andersen DeMarco (MADGI) as studio director. MADGI’s specialized studios serve multiple markets in the Greater New York area, including multifamily residential.
“David Stuart will reinforce MADGI’s market-rate and affordable housing practices, two markets in which he has tremendous experience,” said MADGI Principal Daniel Montroy, AIA.
Prior to joining MADGI, Stuart has worked for nearly 25 years as an architect at some of the most prominent architectural firms in the nation, including Meltzer Mandl Architects.
OPG Appoints Director of Debt and Equity
Audrey M. Watson has become director of debt and equity at Overland Property Group (OPG). She will head the developer’s new Austin, Texas, office.
She brings more than 10 years of experience in tax credit finance, commercial real estate, and community development. Before joining OPG, Watson held posts at JPMorgan Case, Centerline Capital Group, and United Fund Advisors.
Headquartered in Kansas, OPG began as Overland Ventures with the purpose of pursuing state and federal tax credits to develop affordable and seniors housing. Since 2002, it has been awarded more than $250 million in tax credits. These allocations have funded the construction of more than 2,000 units in five states.