Member News

RBC Capital Markets Tax Credit Equity Group announced the closing of the RBC Tax Credit Equity National Fund-29 with total tax credit equity of $116,012,401. The Fund consists of $110.4 million of LIHTC equity and $5.6 million of Georgia State LIHTC equity.

Bellwether Enterprise Real Estate Capital LLC (Bellwether Enterprise), the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc., announced the closing of $115,000,000 in financing to enable Atlantic Housing Foundation, Inc. to purchase 12 affordable housing communities across South Carolina, North Carolina, Virginia, Georgia, and Florida.

Tiber Hudson added two new staff members: Krista North and Matthew Grant. Matthew focuses his career on real estate and transactional finance, and primarily the affordable housing and tax credit industry. Krista North represents lenders and borrowers in commercial real estate transactions, with a concentration on affordable housing and community development finance.

The City of Newport News, VA and the Newport News Redevelopment and Housing Authority are the recipients of a $30 million grant from HUD’s FY 2018 Choice Neighborhoods Initiative (CNI) Awards. Pennrose and the Newport News Redevelopment and Housing Authority will replace Ridley Place’s 259 public housing units, as well as create 133 moderate-income housing units and 98 market rate units.

The Local Initiatives Support Corporation (LISC) announced Annie Donovan, former director of the federal Community Development Financial Institutions Fund (CDFI Fund), as its new chief operating officer.

The partners and principals of CohnReznick announced David Kessler the next Chief Executive Officer. David will officially take office on February 1, 2020 when current CEO Frank Longobardi completes his term.

Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $3.5 billion in New Markets Tax Credits (NMTC) for 73 Community Development Entities (CDEs). Congratulations to the ten NH&RA members that received NMTC awards!

Freddie Mac Multifamily announced four vice presidents: Geri Borger Urgo is now vice president, production & sales, overseeing the Southeast and Northeast regions. Michael Case is now vice president, multifamily capital markets, overseeing all multifamily loan pricing functions. Catherine Evans is now vice president, Small Balance Loan (SBL) underwriting, overseeing the SBL underwriting team. Amanda Nunnink is now vice president, Multifamily investor relations, leading the team that markets the multifamily securities platform. 

Woda Cooper hosted a grand opening and ribbon-cutting on May 15, 2019 for its new Muncy Greene development. The $13.8 million development features 60 single-level apartments that are geared towards low-income seniors. It is one of the first multifamily properties in Pennsylvania to be built to Passive House Institute US certification standards to ensure energy efficiency and low heating and cooling cost.

Cinnaire announced the closing of a $400,000 loan with the Indianapolis Neighborhood Housing Partnership® (INHP) for land acquisition for development of affordable housing one block from a Red Line bus rapid transit station in Indianapolis. The investment is the first loan from the $15 million Equitable Transit-Oriented Development fund launched in February 2019.

Red Mortgage Capital recently closed a $22 million portfolio with a joint venture between Related Affordable and the Texas Housing Foundation. The funding will enable Related to substantially rehabilitate 14 properties located in 12 rural Texas communities, preserving the affordability of 556 housing units.

Chesapeake Community Advisors (CCA) is holding its 10th Annual Golf Tournament on June 3 at the Sparrow Point Country Club (919 Wise Avenue Baltimore, MD 21222. Each year the Ben Etheridges’s CCA golf tournament fundraises for the Juvenile Diabetes Research Foundation to find a cure for type 1 diabetes. Since Ben’s untimely passing on June 30, 2018 the tournament has been renamed “Ben’s Friends Golf Classic.”