Industry Veteran Joins Mercy Housing
Dee Walsh has been named executive vice president, chief officer of strategic development, at Mercy Housing, one of the nation’s largest affordable housing nonprofits. In this new executive position, she will oversee the work of the Mercy Loan Fund and Mercy Housing’s four regional offices.
Walsh’s community development and real estate finance experience will support the organization’s goals of developing and owning affordable housing for seniors, veterans, families, and those with special needs.
Previously, Walsh held leadership positions at the Network for Oregon Affordable Housing, Housing Partnership Network, and REACH Community Development.
Tidwell Group Opens Columbus Office
Tidwell Group has announced the opening of a Columbus, Ohio, office. With this expansion, the accounting firm adds three new partners to its team.
Todd Fentress, CPA, has joined Tidwell Group as the office managing partner. The affordable housing industry veteran is experienced in federal and state government-sponsored programs and has helped clients develop real estate projects through the Midwest.
Aram Moore, CPA, has been named a partner at the firm, bringing his 20-year track record of working with low-income housing and historic tax credit programs. During his career, he has also developed expertise in federal and state governmental housing agency regulatory requirements.
Kevin Allmandinger, CPA, has also joined as a partner, bringing over 30 years of real estate-related experience in public accounting. His experience includes performing and reviewing audit work for Rural Development, the Department of Housing and Urban Development (HUD), and low-income housing tax credit (LIHTC) projects, along with 12 years of experience as treasurer for a large construction, development, and property management firm.
Gleason Joins Berkadia
Tom Gleason, former executive director of MassHousing, has joined the affordable housing team at Berkadia. He will coordinate the company’s affordable housing financing initiatives as Berkadia grows the platform.
“We’re deeply committed to the affordable housing space and the vital role it plays in communities,” said Steve Ervin, head of HUD production at Berkadia. “2017 saw many exciting developments for our HUD and affordable lending teams. We anticipate increased activity in 2018 and beyond, so Tom’s expertise and experience will play a crucial role in broadening our reach, while maintaining the highest standards of customer service and support.”
Gleason spent nearly 30 years at MassHousing, serving in the top post for about 15 years. During his time as executive director, he oversaw the closing of more than $12 billion in affordable financing, the most of any period in MassHousing’s history.
Cinnaire Names Community Development Market Leader
Dionna Sargent has been appointed community development market leader in the Wilmington, Del., office of Cinnaire, a full-service Community Development Financial Institution.
Sargent will lead Cinnaire's Priority City Initiative in Wilmington, focusing on identifying resources and opportunities to further comprehensive community development objectives in the city. In this new position, she will be responsible for developing, establishing, and maintaining relationships with local stakeholders. She will work closely with nonprofit leaders, public officials, developers, network associations, and investors to identify areas where Cinnaire can help develop and advance local community development initiatives.
PGIM Real Estate Adds to Team
Lisa Davis has joined PGIM Real Estate as an executive director and portfolio manager to lead its impact-oriented real estate investment initiatives focused on affordable housing and transformative developments in the United States. PGIM Real Estate is the real estate investment business of PGIM, the $1 trillion global investment management businesses of Prudential Financial.
In support of its impact-oriented initiatives, PGIM Real Estate is collaborating with Prudential’s Impact Investments group to leverage the company’s full breadth of impact investment expertise and industry relationships to help identify investment opportunities. Focusing on major U.S. markets with anticipated population and economic growth, PGIM Real Estate will target opportunities in transformative development in emerging, underpriced locations. It will also pursue affordable housing opportunities.
Previously, Davis led affordable housing and community development finance strategies at the Ford Foundation and helped establish Ford’s impact investing program.
The NHP Foundation Names CFO/Treasurer
Karen Caldwell has been appointed CFO and treasurer of The NHP Foundation (NHPF).
Caldwell brings to NHPF an extensive knowledge of the affordable housing industry having served as CFO and executive vice president for the New York City Housing Authority, where she was responsible for the financial strategy, oversight, and management of the nation’s largest public housing authority, with an annual operating budget of $3.5 billion.
In her new role, Caldwell will oversee cash management for NHPF and all of its subsidiaries and affiliate entities, prepare and overview of financial statements, coordinate audits and tax returns for NHPF and its subsidiaries and affiliated entities, and provide quarterly financial reporting to lenders and grantors and preparation of the Foundation’s annual budget.
Headquartered in New York City with offices in Washington, D.C., and Chicago, NHPF is a nonprofit real estate corporation dedicated to preserving and creating sustainable, service-enriched affordable housing. It has 38 properties, with over 8,000 units, in 15 states and the District of Columbia.
Friedman Adds Real Estate Audit Partner
John Tax has joined Friedman as a partner in the firm’s New York office. He has 20 years of public and four years of private accounting experience, providing specialized auditing and accounting support for clients in the real estate industry. His expansive background is in supporting both public and private real estate investment trusts, partnerships, and other pass-through entities.
Prior to joining Friedman, Tax served as an assurance partner at BDO USA.
NorthMarq Hires Vice President
Adam Cornelius has been named vice president at NorthMarq Capital. He is based in the firm’s Salt Lake City office.
In his new role, Cornelius will originate, underwrite, and close commercial real estate transactions involving both debt and equity solutions for clients, sourced through the entire capital stack. He works across all property types but focuses on multifamily properties with an affordable component.
Cornelius comes to NorthMarq after having been involved in the commercial real estate industry since 2010. He has worked at both Western Capital and Marcus & Millichap.