Olatoye Joins Eden Housing
Shola Olatoye has been named chief operating officer of Eden Housing, a leading nonprofit affordable housing developer and owner based in Northern California.
Prior to joining Eden Housing, she served as director of housing and community development for the city of Oakland, California. As an appointed member of the city’s executive team, she led a team of 74 people and oversaw more than $100 million of housing production and preservation capital.
During her tenure, Oakland won six state Homekey awards, resulting in more than 400 new permanent deeply affordable units. Olatoye also launched the city’s federal $48 million Emergency Rental Assistance program and served more than 3,000 Oaklanders who needed immediate rent relief. She also secured the department’s research relationship with Stanford University’s Impact Lab, resulting in a new $50,000 impact grant to develop new technology for residents to access affordable rental housing.
Olatoye previously served as vice president of business development at Suffolk Construction, where she worked to expand the organization’s affordable housing work. She also served as chair and CEO of the New York City Housing Authority, a role she held for four years, and has held executive and senior-level posts at Enterprise Community Partners, HSBC Bank, and HR&A Advisors.
Family Promise CEO Departs
Claas Ehlers has stepped down as CEO of Family Promise, a nonprofit working to prevent and end family homelessness. Beginning as a local initiative in Summit, New Jersey, the organization has grown to operate in more than 200 communities in 43 states.
Ehlers has accepted a new position as CEO of the Jesse Lewis Choose Love Movement. Founded by a mother who lost her son in the Sandy Hook massacre, Choose Love, like Family Promise, seeks to change the future for children through social-emotional learning and character building.
The Family Promise board of directors expects to select a new CEO by the end of the year. Shari Competiello, chief of staff, will serve as acting CEO.
NewPoint Announces Moves
Susan Mudry has been elevated to chief operating officer at NewPoint Real Estate Capital.
In another move, the firm has named Tonya Barnes as managing director, head of closing.
Mudry takes over the post from Phil Spellberg, who helped to found and launch NewPoint and served in the role during the firm’s first year of operations. While he is formally retiring, Spellberg will remain a senior adviser to the firm for the next year to provide strategic counsel and help continue to grow the NewPoint platform.
Mudry joined the company in February as senior managing director for process reengineering and strategic execution. In her new role, she will drive operational excellence across the firm, focusing on new product development, strategy, and processes. In addition, she continues to lead the company’s diversity, equity, and inclusion strategy. Prior to joining NewPoint, she held a variety of leadership roles at Freddie Mac, including chief of staff and vice president of multifamily strategy, marketing, and offerings.
Barnes is responsible for overseeing and streamlining all closing and transaction management activities. She is based in Irvine, California.
Barnes brings over three decades of diversified real estate banking experience, having handled closings for a variety of property types, including multifamily and affordable housing. Prior to joining NewPoint, she served as executive vice president overseeing the property management division at Avanath Capital Management. Barnes also served as vice president and closing manager with KeyBank Real Estate Capital.
KeyBank Bolsters Community Development Team
KeyBank Real Estate Capital has appointed three new relationship managers focused on affordable housing to expand community development lending and investment (CDLI) activity in the Southeast and Northwest.
Nicholas Hoffer joins as senior mortgage banker responsible for new affordable housing business development and relationship management, providing off-balance sheet financing solutions to for-profit and nonprofit owners, investors, and developers. Based in Tampa, Florida, he will oversee deals in Alabama, Florida, and Mississippi. Hoffer brings more than 15 years of affordable housing experience. He previously served as an executive director at PGIM, where he originated Fannie Mae, Freddie Mac, and Federal Housing Administration affordable loans.
Christopher McKenzie joins as senior relationship manager to expand CDLI fund investment activity in the Western region. He is based in KeyBank’s Portland, Oregon, office. Previously, McKenzie was an origination officer at National Equity Fund, where he structured low-income housing tax credit (LIHTC) financing.
Caleb Stephens has been promoted to senior relationship manager to expand community development lending and investment activity in the Western region. Based in Seattle, Stephens previously held the role of senior associate, corporate responsibility and community relations, at KeyBank for the Northwest region.
Capital One Adds to Team
Capital One Community Finance has named Jonah Lee as vice president, community finance and head of underwriting and portfolio management, Aiza Galdo as senior director of underwriting and portfolio management—West, and Gerry Zais as senior director of underwriting and portfolio management.
Lee will lead a team that supports the community finance team's core impact and is responsible for underwriting, structuring, and closing new transactions while managing an existing portfolio of debt and equity exposure. He brings more than 15 years of experience at top housing finance agencies, including the San Francisco Mayor’s Office of Housing and Community Development and the New York City Housing Development Corp.
Galdo will lead a team responsible for underwriting new transactions, managing an existing portfolio of debt and equity exposure, and ensuring a scalable and well-managed business. She brings more than 20 years of LIHTC experience, working at HCP Property Holdings at Hunt Capital Partners and Wells Fargo Bank’s Community Lending and Investment group.
Zais will lead a team that analyzes, assesses, and mitigates risk on debt and equity transactions that support affordable housing development and preservation. Prior to joining Capital One, he held senior level positions with DSF Advisors, Boston Capital, and Boston Financial Investment Management and has 25 years of experience working with conventional and affordable multifamily real estate.
CPC Names SVP, Chief People Officer
Monique Jefferson has joined the Community Preservation Corp. (CPC) as senior vice president, chief people officer. She will be a key member of the operating committee and will be responsible for crafting and executing on CPC’s long-term strategic vision for its team members.
Part of Jefferson’s role will be to advance CPC’s ongoing diversity, equity, and inclusion work. She will work in close collaboration with members of the leadership team to ensure that CPC’s staff are fully equipped to meet the breadth of the organization’s development goals. Jefferson’s work will focus on building a talent pool that reflects the diversity of the communities CPC serves, connecting staff with training and professional development opportunities, and supporting staff.
Before joining CPC, she was the chief human resources officer at New York Public Radio.
CPC is a nonprofit multifamily finance company that has invested over $12 billion into the creation and preservation of more than 220,000 units of housing through its lending and investing platforms.
Tidwell Group Names Partner
Brandon Wilkerson, CPA, has become the newest partner at Tidwell Group.
Based out of Charlotte, North Carolina, he represents firm clients across the country. Wilkerson is a key member of the energy and affordable housing credit teams. His 10 years of public accounting experience adds to Tidwell Group’s expertise in the areas of audit and accounting. Wilkerson works closely with clients in planning, performing, and supervising audit and assurance engagements.
A leading accounting and advisory firm, Tidwell Group specializes in the tax credit, real estate, and construction industries
