NH&RA Asset Management Conference
Thom joined National Housing & Rehabilitation Association (NH&RA) in 2004 and currently serves as its as Executive Vice-President and Executive Director. NH&RA is a national trade association and peer-network for affordable housing and tax credit developers and related professionals including: investors, lenders, public agencies and professional advisers. Thom directs the association’s day-to-day operations including legislative and regulatory advocacy, committee activities, conferences and events, publications, financial management and strategic planning.
Thom also serves as the Executive Director of the Tennessee Developers Council, a state-wide trade association for affordable housing developers and professionals active in Tennessee. In 2013 he spearheaded the launch of NH&RA's Preservation through Energy Efficiency Project, a major educational initiative supported by the John D. and Catherine T. MacArthur Foundation. Thom also serves on the Board of Directors for International Center for Appropriate & Sustainable Technology (iCAST) as well as the Advisory Board for its ResourceSmart program, a turn-key, cost-effective, green rehab provider for multifamily affordable and market-rate housing communities and nonprofit facilities.
Thom is a frequent speaker at affordable housing, sustainable development and tax credit industry events and has been published in a variety of industry journals including Tax Credit Advisor, Independent Banker, and the Novogradac Journal of Tax Credit Housing. Thom also serves as the Associate Publisher of Tax Credit Advisor, a monthly magazine for tax credit and affordable housing professionals and is an Executive Vice-President at Dworbell Inc., a boutique association management and communications firm in Washington, DC.
Thom was previously employed at a national lobbying firm focusing on financial services and technology issues. Prior to moving to Washington, Thom worked in media relations in the New York State Assembly and as a research assistant for New Hampshire Governor Jeanne Shaheen. Thom graduated Magna Cum Laude from Tufts University with a double major in Political Science and History.
Kara Binning began her career with Beacon Communities in 2014 as an intern while completing her Master’s Degree in Economics at Suffolk University. Kara’s advanced understanding of modeling, statistical analysis and interpretation significantly influenced Beacon’s analytic systems, portfolio management and budget process. Kara, originally from Ohio, followed her dreams to Boston where she fell in love with the Red Sox.
Laura E. Burns
Laura E. Burns
Laura E. Burns has 31 years’ experience in the affordable housing development business. She is a nationally recognized expert in the affordable housing finance business. As CEO and a founding Partner of the Eagle Point Companies, Ms. Burns has acquired and renovated affordable housing properties and raised and invested private equity in existing housing across the country. In addition, Ms. Burns directed the strategic startup of Eagle Point’s property management division which now oversees over 5,000 apartments. She continues to oversee the 20 year old consulting division – The Signal Group – whose clients include federal agencies and private sector owners, lenders and managers. Ms. Burns continues to be actively engaged in acquiring additional assets and ensuring that all new acquisitions and Eagle Point’s existing portfolio perform at the highest possible levels.
Ms. Burns worked at the Boston Redevelopment Authority (BRA) from 1985 until 1992 where she coordinated neighborhood development projects using low income housing tax credits. From 1992 to 1995, she assisted in the set-up of a nationwide asset management company, based in Portland, Maine, that liquidated affordable housing under contract to the Resolution Trust Corporation (a federal agency) and was subsequently named Chief Operating Officer of its affiliated development company.
Ms. Burns serves on the Board of the National Leased Housing Association, the Editorial Advisory Board of Affordable Housing Finance and is a frequent speaker at the national industry conferences. Her role in helping to develop housing policy includes testifying before the U.S. House Committee on Financial Services and participating in policy development working groups with HUD/GSE’s and Treasury. Ms. Burns has a BA degree from Lehigh University.
Eric M. Callinan, CPA, is the Director of Asset Management at Beacon Communities LLC. Eric embarked on a new career path when he joined Beacon in May of 2015, after a seventeen year career in public accounting. Since joining Beacon, Eric’s focus has been in the area of Transactional Asset Management, focusing on loan refinancing, property dispositions, investor transactions and corporate valuations. Eric throughout his career has taken an active interest in the area of data analysis and corporate efficiencies. As a Senior Auditor Manager, Eric gained extensive audit and business experience in Real Estate, State Colleges, Venture Capital Firms, Manufacturing, Professional Trade Associations and Small Business. Eric received his BS in Accounting, with a minor in Economics, from The University of Massachusetts - Dartmouth. Eric is an annual supporter of the Michael J. Fox Foundation and its important mission to end Parkinson’s.
Bobby joined the National Foundation for Affordable Housing Solutions, Inc. (“NFAHS”) in 2012. His primary role is to develop and implement asset management practices for the NFAHS portfolio. Key areas of responsibility include development and implementation of property level monthly level financial reporting, oversight of third-party property management companies, develop and review annual operating budgets for the properties, administration of subsidy contracts, monitor property level compliance with debt and other regulatory requirements, and provide operating data and feedback to development and acquisition teams to assist in their underwriting.
Prior to joining NFAHS, Bobby was introduced to the affordable housing industry during his time with Reznick Group, P.C. Bobby provided audit and assurance services (including financial statement audits and reviews, cost certification reports, agreed-upon procedure reports) to a variety of clients in the affordable housing, commercial real estate, construction, employee benefit plan and non-profit industries. Bobby has a degree in Business Administration (Accounting) from James Madison University in Harrisonburg, VA.
Rachel Denton is a partner in the metro Kansas City, Mo., office of the valuation, consulting, market research and government services division of Novogradac & Company LLP. Ms. Denton has extensive experience performing market feasibility studies, appraisals and consulting services for a broad cross-section of clients in the low-income housing tax credit (LIHTC) industry, including developers, lenders, syndicators and state agencies. She also specializes in conducting regional or marketwide housing studies for various municipalities and agencies. Additional areas of expertise include the valuation and analysis of USDA Rural Development properties and those applying for FHA financing through the U.S. Department of Housing and Urban Development’s (HUD’s) MAP program. Ms. Denton has spoken at Novogradac and other industry conferences, discussing HUD-specific valuation and market analysis issues, as well as Year 15 valuation concerns related to LIHTC properties. Ms. Denton has completed extensive real estate appraisal coursework through the Appraisal Institute and received a bachelor’s degree in urban and regional studies from Cornell University. Ms. Denton is a designated member of the Appraisal Institute and is licensed as a certified general real estate appraiser in several states.
Peter J. Desjardins
Peter J. Desjardins
Peter serves as the Vice President of Asset Management for the Volunteers of America national office. Asset Management represents the owner/sponsor interests in all housing properties sponsored/co-sponsored by Volunteers of America National Services with the objective of ensuring that the housing properties are performing at optimal levels and in compliance with financial covenants, regulatory requirements and other reporting and filing requirements.
Peter comes to Volunteers of America from the Housing Opportunities Commission of Montgomery County, Maryland (HOC), a national leader in the development of affordable housing, where he served for over nine years in the Asset Management department. During his time with HOC, Peter was responsible for a $500 million portfolio of market rate and subsidized housing gaining significant experience in marketing as well as federal, state and local housing programs including Low Income Housing Tax Credits, Section 8 Housing Assistance Payments, Section 236 Interest Reduction Payments, Housing Choice Vouchers, and State and County grants. Prior to HOC, Peter worked for CRI, Inc. and EEA Realty as Asset Manager and Financial Analyst respectively, overseeing market rate as well as HUD subsidized housing.
In addition to his extensive housing experience, Peter has also worked as a Market Analyst and News Editor for the CoStar Group, the nation’s leading commercial real estate research company.
Chris Dischinger is a proven leader within the real estate development
industry and is co-principal and co-founder of LDG Development in
Louisville, KY. He is committed to the business of building better lives
through developing quality, affordable communities for hard-working
families and active seniors to grow and thrive.
In 1994, Chris formed LDG Development with his business partner
Mark Lechner, successfully focusing on acquiring, developing, building
and managing single-family homes. The company eventually grew to
have a portfolio of more than 500 homes as well as acquiring and
managing commercial real estate properties in 17 states. In 2002,
LDG saw an opportunity to enter the Housing Tax Credit Program and
by using this model, LDG has developed over 8000 units in multiple
Today, LDG has three main divisions, all focused on maximizing growth and production.
With the mission statement, “Everyone Deserves a Quality Place to Live”, the company
has over 30 employees in its offices located in Louisville, KY and Austin, TX and are
focused on developing and managing quality properties for the thousands of families
of residents and families it serves.
Chris has served as president of four different trade organizations including the
national president of the Society of Exchange Councilors. He resides in his hometown of
Louisville, KY with his family.
Cindy Fang is a senior manager with the Tax Credit Investment Services practice of CohnReznick. Ms. Fang’s primary responsibilities include providing due diligence services to many of the nation’s largest equity investors in housing credit developments and leading various industry research and study projects. Cindy started her affordable housing career with the Real Estate Transaction practice of the legacy Reznick Group where she provided real estate transaction advisory services to developers with a specific focus on low-income housing tax credit, tax-exempt bond and historic rehabilitation credit financed projects. Prior to re-joining Reznick in December 2010, Cindy was a member of the Tax Credit Investment Advisory Services group of Ernst & Young LLP.
Cindy specializes in structuring tax credit transactions and advising on the monetization of tax credits in all realms of the tax equity market, including low income housing, wind, solar, new markets and historic rehabilitation tax credits. Cindy’s experience in connection with the low income housing tax credits primarily included conducting due diligence and providing other advisory services to institutional investors in both primary and secondary transactions. Cindy co-authored “The Low Income Housing Tax Credit Program at Year 25: An Expanded Look at Its Performance,” a CohnReznick study assessing the operating performance of housing tax credit projects during years 2008-2010, and “The Community Reinvestment Act and its Effect on Housing Tax Credit Pricing,” a CohnReznick study analyzing the impact the CRA has had on the availability and pricing of housing tax credits.
In addition, Cindy has provided services to numerous energy clients including offering advisory services in establishing tax credit monetization strategies, building financial models which allow client to evaluate the financing strategies in detail and providing advice as to the available transaction structures for the contemplated transactions.
Cindy received her Master of Public Management (with a concentration in finance) from University of Maryland, College Park and her Master of Taxation from Northeastern University. Cindy is a certified public accountant in Massachusetts.
Allen Feliz is a Managing Director at TCAM, an independent asset manager and consultant for owners and funders of affordable housing. He is responsible for managing the Company’s Consulting and Subordinate Loan Administration practice groups including engagements with for-profit and non-profit developers and public sector clients including state housing agencies and large housing authorities. Prior to TCAM, Allen worked for the Tax Credit Acquisitions department at MMA Financial. He’s a Housing Credit Certified Professional (HCCP). Allen obtained a Master of Public Administration from the Maxwell School of Citizenship and Public Affairs at Syracuse University and a BA from Brown University.
Frank Fudala joined HFA in January 2017 as the organization’s Vice President of Portfolio Management. Frank has over fifteen years of experience in the affordable housing industry. Prior to joining HFA, Frank served in a variety of asset and property management capacities at Enterprise Community Investment, Bank of America and Habitat America. Frank is a Certified Property Manager (CPM) through the Institute of Real Estate Management (IREM), a Certified Credit Compliance Professional for Low Income Housing Tax Credits through SPECTRUM and a Certified REAC Inspector through American Property Consultants, Inc. Frank earned his Bachelor of Science in Marketing from St. Joseph’s University in Philadelphia, PA and his MBA (with a concentration in Management) from the University of Baltimore in Baltimore, MD.
With more than 35 years of experience in the multifamily housing industry, Beverly Hanlin is considered an expert in asset management and resident services.
Her business degree from West Virginia University and vast practical experience make Beverly perfectly suited for her position as Director of Asset Management of NHT-Enterprise, a nonprofit, Washington, D.C.-based affordable housing developer.
Beverly’s guidance and supervision of the NHT-Enterprise portfolio ensures owners successfully incorporate property, resident, and investor needs with every project. Likewise, her conscientious, strong management skills safeguard secure financial performance and long-term preservation.
Beverly has earned recognition by Who’s Who and she was included in ABI’s “2,000 Notable American Women”. She has been invited to speak at conferences and symposiums by industry leaders NeighborWorks and the National Housing & Rehabilitation Association.
Her commitment to nonprofit service also includes volunteering with Stewards of Affordable Housing for the Future (SAHF) on their Asset Management Peer Group and with the Housing Association of Nonprofit Developers (HAND) Program Committee for more than four years.
Beverly lives in the Washington, DC area with her family and remains a Certified Professional of Occupancy thru the National Affordable Housing Management Association.
Susan Kessler is a Senior Vice President and South Region Team Leader for the Low Income Housing Tax Credit Asset Management Group at Bank of America. With her team of three Asset Managers and two Portfolio Managers, Susan is responsible for managing the Bank’s South Region Direct Investments and a portfolio of Proprietary and Multi Investor Low Income Housing Funds. Susan and her Team are responsible for overseeing the operational performance of the Assets from construction/lease-up, to stabilization through disposition. She is also responsible for Low Income Tax Credit Reporting.
Susan has been with the Bank and its predecessors for 16 years. Prior to joining the Bank, Susan was with a Morgan Guaranty Trust Company for 19 years in various positions.
Susan graduated from SUNY @ Buffalo with a BS with a concentration in Business Administration. Susan is a Board Member and on the Program Committee of the Affordable Housing Investors Council (AHIC).
H. Blair Kincer
H. Blair Kincer
H. Blair Kincer is a partner in the metro Washington, D.C. office of Novogradac & Company LLP in the firm’s government consulting and valuation advisory services (GoVal) group. Mr. Kincer specializes in the following primary practice areas: market analysis and appraisal of various types of mixed income and affordable housing projects, new markets tax credit (NMTC) industry consulting, Historic Tax Credit (HTC) consulting, and market analysis and appraisal in the alternative energy industry. The real estate appraisal practice has specialized competencies in the U.S. Department of Housing and Urban Development (HUD) MAP program, HUD rent comparability studies and valuation of all tangible and intangible assets involved in affordable housing development. In the NMTC arena, Mr. Kincer specializes in various analyses involving evaluating debt and real and financial asset value/appraisal questions. Further, he has developed reasonableness opinions and market verifications of various fees and relationships to assist tax counsel with evaluating structures in light of recent Internal Revenue Service (IRS) revenue rulings. His experience in the renewable energy industry includes solar, wind, and other energy facility appraisals and impact analyses of renewable energy assets provided to affordable housing developments. Mr. Kincer, a certified LEED Green Associate, brings to his practice a broad understanding of green building technologies, best practices and the LEED Rating System. Mr. Kincer is also a member for the Counselors of Real Estate (CRE) and of the Appraisal Institute.
Prior to joining Novogradac & Company LLP, Mr. Kincer was vice president of acquisitions for a regional developer where he specialized in financial and economic feasibility analysis. His responsibilities included finding and processing potential acquisitions for rehabilitation using tax credit and tax-exempt bond financing. Mr. Kincer served as a manager with Ernst & Young LLP, where he performed portfolio valuations, market analysis and loan pool performance reviews. His areas of specialization include retail and hospitality. Mr. Kincer received his bachelor’s degree from West Virginia University and his MBA from Duquesne University. He is a member of the Appraisal Institute and a certified general appraiser in Connecticut, Kentucky, Maine, Maryland, Massachusetts, Mississippi, North Carolina, New York, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia, Washington, and Wyoming.
As Vice President of Asset Management, Ms. Kinnaman monitors and evaluates property performance and forecasts future performance. She focuses on market placement and repositioning opportunities, liability concerns, and risk management to ensure the portfolio under her management is operating at peak capacity. She also manages property refinancings and dispositions, and monitors real estate tax assessments, appeals, abatements and exemptions for her portfolio.
Douglas P. Koch
Douglas P. Koch
Douglas Koch, MAI, AICP and Advisory Affiliates, LLC provide clients with advisory services across key disciplines needed to plan, appraise, analyze and successfully complete complex real estate and investment fund transactions in affordable housing, real estate and community development. Along with real estate, planning and investor consulting 2018 activities, Advisory Affiliates participated in affordable/workforce housing development ventures arranging tax credit and private equity financing, assisting with organizational formation and coordinating underwriting activities. Advisory Affiliates, LLC is available to work directly with clients and collaborate with other professionals across a number of real estate and affordable housing and community development services.
As the Vice President of Financial Planning and Analysis, Mark Mahoney has been actively involved in the oversight of Dominium’s owned portfolio representing more than 200 multifamily assets and approximately 26,000 units for the last 10 years.
Mr. Mahoney has provided oversight and analysis on dispositions, refinancing of existing assets as well as limited partner buyouts. Additionally, Mr. Mahoney works on estate planning for Dominium partners, provides guidance on ownership structures for new acquisitions, assists on the creation and oversight of executive compensation plans. Mr. Mahoney manages a pool of analysts with responsibilities ranging from leading the property budget process to the distribution of surplus cash from all assets.
Kim Maimone is a Senior Vice President and Team Leader for the Tax Credit Investment Equity Administration at Bank of America Merrill Lynch. With her team of three equity administrators, she is responsible for managing the tax credit applications, reporting, and equity fundings for the Bank’s Low Income Housing, Historic, New Market, and Solar Tax Credit Investments.
Kim has been with the Bank for ten years. Prior to joining the Bank, Kim was a Senior Business Analyst with a software development company specializing in Tax Credit applications.
Kim graduated from Rochester Institute of Technology, earning a BS in Management Information Systems.
Chuck Moran is an Executive Vice President at Vesta Corporation, based in Weatogue, Connecticut, and is responsible for the overall direction of the property management function and performance of the communities within the company portfolio. He is a seasoned real estate professional, with more than 38 years of successful property and asset management experience. Chuck has overseen property management and asset management of portfolios in excess of 12,000 apartments across multiple states and regions for a variety of owners and operators including: Conifer Realty, The Community Builders, Claremont Corporation, and Corcoran Management. He has extensive experience with both affordable and conventional apartments, Section 42 Tax Credits, Public Housing, and HOPE VI mixed income communities. Chuck is a former President of the Boston Chapter of the Institute of Real Estate Management and holds a B.S. in Accounting from Boston College.
Bernard S Oleniacz
Bernard S Oleniacz
Bernard Oleniacz is Vice President, Asset Management, at Bellwether Enterprise Real Estate Capital, LLC. Bernie is responsible for all aspects of asset management and special asset management for the company’s Fannie Mae loan portfolio. He joined Enterprise in 2008 as the Director of Debt Asset Management.
Bernie has been involved in financing and managing multifamily housing for more than 25 years. Previously, he spent five years with Fannie Mae, most recently as a Director in its Multifamily Debt Asset Management group. He was involved in developing asset management policies and procedures for Fannie Mae’s Lender/Servicers, serving as Fannie Mae’s liaison with numerous multifamily lender/servicers, and was instrumental in developing the financial statement submission capabilities for Fannie Mae’s Multifamily Asset Management Portal. Prior to Fannie Mae, he held various consulting and professional positions with different firms in multifamily housing development and asset management.
Bernie holds a Juris Doctor from the Washington College of Law of the American University in Washington, D.C., a Master of Science in Taxation from Southeastern University, also in Washington, D.C., and a Bachelor of Science in Marketing from Virginia Commonwealth University in Richmond, Virginia.
Kevin is the Director of Asset Management for Wishrock, who he joined in 2014. Wishrock develops and invests in affordable housing properties nationwide. Collectively, their principals have developed or redeveloped over 11,000 affordable housing units since the early 1970’s.
Kevin has over 20 years of experience in the affordable housing industry. He brings a thorough understanding of multifamily housing programs and has a comprehensive understanding of the operational budgets of affordable housing projects, including cash flows, operating expenses and various debt structures.
Kevin got his start as a property manager overseeing a portfolio of Rural Development, Low Income Housing Tax Credit and HUD assisted properties. In 2000, Kevin joined the Maine State Housing Authority (MaineHousing) where he held several positions. His most recent position with MaineHousing was that of Porfolio Manager. In this position, Kevin supervised a team of asset managers as they fulfilled asset management and compliance responsibilities for the agency’s entire multifamily portfolio of nearly 18,000 units and over 1.2 billion in loans. Kevin was instrumental in assisting the agency to develop new risk strategies and implementing creative debt restructure programs, which resulted in the long term preservation of many units in the State.
Todd serves as the Executive Vice President for the Portfolio Management & Analysis and the Design functions for HKP. He also serves as a member of the senior management team of HKP. Todd was previously the Executive Vice President of the Indianapolis Neighborhood Housing Partnership (INHP) from 2000 through 2005. Todd’s career also includes two areas of state government: first in various positions at the Indiana Housing Finance Authority (IHFA, now known as the Indiana Housing and Community Development Authority), including Deputy Director, and second as the Executive Secretary of the Indiana State Board of Tax Commissioners. Todd received a Bachelor of Science in Finance from the Honors Program of the Business School at Indiana University and graduated with Distinction. In 2002, he received a Masters in Economics from Indiana University (at I.U.P.U.I.). In 2008, Todd earned the Chartered Financial Analyst designation from the CFA Institute.
Bob Snow is the Vice President, Dispositions at the National Equity Fund, Inc. Bob has more than 30 years of diverse experience in affordable housing. Before joining NEF in 2012, Bob worked for National Affordable Housing Trust for 20 years; 10 years managing its development consulting group and 10 years leading its Asset Management department. Prior to NAHT Bob was Executive Director for the Ohio Energy Action Corporation, which provided financial incentives for green energy retrofits. He has a BA in Government and Law from Lafayette College.
Dena Xifaras is POAH's Vice President for Ownership & Operations, responsible for the oversight of POAH’s long-term ownership interests in its real estate portfolio – approximately 9,000 units and $1 billion in asset value.
She oversees POAH’s Asset Management, Technology, and Design & Building Performance departments, develops property and portfolio strategies, leads the development and use of higher level portfolio analytics and systems, and fosters the growth of POAH’s ownership and operations function.
She directs staff carrying out workouts, refinancing, limited partner exits, financial oversight, relationship management, capital planning, energy management, technology initiatives, design standards, and a broad variety of the department’s other functions.
Prior to taking on her current role, Dena worked for five years as a Development Project Manager, overseeing the acquisition and redevelopment of over $100M in total development costs at POAH. Prior to POAH, she was a Manager at Accenture, a global management consulting, technology services and outsourcing company.
Dena holds a Bachelor’s degree from Boston College, a law degree from Suffolk University Law School, and both an MBA and second Master’s degrees from Bentley College.
Dena was recognized for her talent and contributions to affordable housing by being named one of Affordable Housing Finance magazine’s Young Leaders of 2014.
Roger Yorkshaitis, CPA, is Senior Vice President and Chief Financial Officer for The Gatehouse Companies, an affordable housing developer and manager with properties in Massachusetts, Rhode Island and Florida. He has 30-plus years experience in real estate accounting and finance. Mr. Yorkshaitis joined Gatehouse in March 2000 after serving four years as Chief Financial Officer for a regional health care company where he was responsible for the organization’s accounting, finance and strategic planning functions. Previously, Mr. Yorkshaitis served for over 10 years at two Boston area CPA firms serving primarily the real estate industry. He serves on the Executive Committee of the National Housing and Rehabilitation Association. Mr. Yorkshaitis received a BS in Accountancy from Bentley College and is licensed as a CPA in Massachusetts.
As General Counsel, Ms. Zimmerman is responsible for coordinating and managing all legal work for McCormack Baron, including project development, coordination of outside counsel, and corporate and management legal matters. Ms. Zimmerman is also President of McCormack Baron Asset Management, responsible for McCormack Baron’s owned portfolio as well as additional portfolio management for a total of approximately 400 properties. She is experienced in real estate, contract negotiation and development procedures at the municipal, state and federal level, with a specialty in HOPE VI/Mixed Finance projects, FHA and other HUD programs.
Prior to joining McCormack Baron in 1984, Ms. Zimmerman was a partner in the law firm of Greenfield, Davidson, Mandelstamm & Voorhees in St. Louis. As a deputy member of the National Task Force on Financing Affordable Housing, she co-authored a chapter on subordinate debt and subsidy financing and was an organizer of the Task Force-sponsored Multifamily Institute.
Ms. Zimmerman served as Vice Chair of the Affordable/Workforce Housing Council of the Urban Land Institute. She serves as a commissioner of the Missouri Botanical Garden Subdistrict Commission. She serves on the Advisory Boards of The Girl Scouts of Eastern Missouri and the National Council of Jewish Women, St. Louis Section, and is a member of the St. Louis Forum, an organization of top-ranking female executives. She previously served as Vice President of the Jewish Center for Aged and as President of The Alexandra Ballet. Ms. Zimmerman is a frequent speaker for The Institute for Professional and Executive Development, Inc. (IPED), the Urban Land Institute, St. Louis University Law School, National Network of Commercial Real Estate Women, U.S. Department of Housing and Urban Development, and the National Housing and Rehabilitation Association.