Affordable housing industry veteran Lisa Castillo has been named president of Merritt Community Capital Corp., a California-based low-income housing tax credit syndicator.
Castillo recently served as vice president of originations at WNC, where she led tax credit syndication negotiation and origination efforts in the western region that placed more than $580 million in equity during her tenure.
Previously, she held senior executive roles in both the public and private sectors, where she was responsible for the acquisition, finance, and project management of affordable housing developments across the United States, as well as implementation of county housing programs.
Castillo succeeds Barney Deasy, who was president of the company for more than 20 years. Deasy will continue to serve as an external consultant to ensure a smooth transition of leadership.
"After a long search to find a successor for our well-regarded leader, Barney Deasy, we are thrilled to have Lisa Castillo join us to fill that role,” said Christine Carr, chair of the Merritt board of directors, in a statement. “She brings a deep knowledge of affordable housing and tax credit syndication, and we look forward, with Lisa at the helm, to continuing Merritt's accomplishments and outstanding track record in the market."
Merritt provides equity capital for affordable housing throughout California, revitalizing neighborhoods through construction, rehabilitation, and long-term asset management. Since 1989, the company has financed more than 8,300 affordable homes and invested more than $760 million in 20 separate funds. Merritt is a member of the National Association of State and Local Equity Funds.