Bernardy to Lead McCormack Baron Salazar’s Texas Efforts

Louis Bernardy will serve as vice president and director of development in Texas for national developer McCormack Baron Salazar as the firm expands its presence in the state.

He joined the company in its West Coast office in 2007. As a vice president, he project managed and closed several development projects in Los Angeles and Phoenix, totaling more than $55 million in development costs.

He will be based in San Antonio and will serve as the project executive for the firm’s entire Texas development portfolio. He will also continue to serve as the project manager for the East Side Choice Neighborhood in San Antonio, which includes the development of 417 new mixed-income homes in a mixed-use community.

Prior to joining McCormack Baron Salazar, Bernardy served as president and CEO of Los Angeles Housing Partnership.

CDT Promotes Two Senior Leaders

The Community Development Trust (CDT) has promoted Brian Dowling to senior vice president of community investments and Christopher Blair to senior vice president of finance and treasurer.

Since joining CDT in 2005, Dowling has worked on more than $150 million worth of equity acquisitions.  In his new position, he will be responsible for CDT’s equity acquisitions program, which provides equity capital to affordable housing operators for the purpose of acquiring and preserving properties.

Blair has played a role in a number of important CDT initiatives since joining the company in 2006. He helped to secure CDT’s $125 million Community Development Financial Institutions (CDFI) Bond Guarantee award, annual CDFI grants, and Federal Home Loan Bank membership, and to negotiate renewals of debt-participation agreements. In his new role, he will be responsible for all of CDT’s treasury activities, including debt transactions, business planning and forecasting, investment pricing, new business initiatives, and overall market research.

Headquartered in New York City, CDT is the country’s first and largest private real estate investment trust with a focus on providing capital for the preservation of affordable housing.

Jonathan Rose Cos. Names COO

Michael Daly has been appointed COO of the Jonathan Rose Cos., a leading real estate development, investment, and project management firm. The company is known for its green mixed-income properties and other affordable housing.

Daly recently served as president of Forest City Enterprises’ affiliate Mesa del Sol, where he was responsible for the master plan and development for a 9,000-acre, new urbanism, mixed-use project in Albuquerque, N.M.

Bellwether Enterprise Hires SVP

Peter Borstelmann has been hired as senior vice president at Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment. He will be based in the firm’s Pittsburgh office as part of its origination team.

Borstelmann joins Bellwether Enterprise from Red Mortgage Capital, where he worked as a direct originator for multifamily debt utilizing Fannie Mae, Federal Housing Administration (FHA), and CMBS lenders, most recently as a director.

Chase Adds to Community Development Team

Paul Carney has joined Chase’s Community Development Real Estate team as a senior banker in its San Francisco office. He will be responsible for providing financial solutions to promote the growth of affordable housing and the revitalization of low- and moderate-income neighborhoods across the Bay Area.

Carney has more than 15 years of experience in affordable housing finance and was with CBRE Capital Markets’ FHA lending group prior to joining Chase. During his career, he has also served as the chief of production for the Department of Housing and Urban Development’s (HUD’s) San Francisco multifamily office. He began his career with Devine & Gong, consulting with nonprofit and public-sector clients on a range of affordable housing projects.

NDHFA Adds to Staff

April Klingfus has been hired as a housing outreach officer in North Dakota Housing Finance Agency’s planning and housing development division.

She will be responsible for researching funding sources, reviewing market studies, identifying community needs, developing local housing strategies, and providing development guidance.

Prior to joining the housing agency, Klingfus worked at Wells Fargo as a home mortgage consultant.

NMTC Firm Makes Moves

The Greenville, S.C.-based taxadvantagegroup has promoted Lisa Kent to controller and compliance officer and hired Anthony Cox as New Markets Tax Credit (NMTC) program manager. The consulting firm specializes in NMTCs.

Kent has been with taxadvantagegroup for four years, serving as NMTC compliance manager. In her new position, she oversees the company's financial policies, procedures, controls, and reporting systems in addition to managing compliance services for clients. She has more than 20 years of tax experience, and was formerly a staff accountant at KPMG and a tax manager at Dixon Hughes, where she provided tax and financial planning services.

Cox is responsible for managing the firm’s NMTC accounts and those of its affiliate fund, Greenville New Markets Opportunity. Responsibilities include assisting with NMTC allocation applications; helping to establish and maintain successful operating and advisory boards for NMTC clients; and analyzing loan proposals, reviewing due diligence materials, and preparing associated spreadsheets. Prior to joining taxadvantagegroup, Cox worked for The Fieldstone Group, a real estate development firm.

Greystone Expands to Seattle

Patrick Nizich has been appointed managing director of Greystone’s new Kirkland, Wash., office.

He brings 25 years of commercial real estate experience, most recently serving as managing director at Dexia Real Estate Capital Markets.

Greystone provides mortgage finance solutions across multiple platforms, including FHA, Fannie Mae, and Freddie Mac.

Pennrose Management Names CFO

Cristi Resciniti has been promoted to CFO at Pennrose Management Co. She will lead members of the financial team while steering the vision for the company’s financial growth.

Resciniti joined Pennrose last year, bringing more than 20 years of experience in financial reporting and leadership. Prior to joining the firm, she spent 14 years with Asher & Co. and BDO USA, two accounting firms servicing a leading development and management company in the United States with emphasis HUD, Pennsylvania Housing Finance Agency,  and New Jersey Housing and Mortgage Finance Agency–financed properties.

CRM Announces Promotion

Suzanne Sigmund has been promoted to senior vice president at Community Realty Management (CRM), a full-service real estate management firm. She will work closely with CRM’s leadership team to oversee all property management–related strategies for the organization’s diverse portfolio of properties across the country.

Sigmund began her career with CRM in 1994 as a regional manager and was subsequently promoted to executive property manager with responsibility for more than 1,400 units located throughout northeastern Pennsylvania. She was then promoted to vice president of occupancy and compliance and has served as the company’s primary trainer and Fair Housing officer while supervising the management of compliance department personnel.