Wells Fargo names community lending and investing group leader
Wells Fargo & Co. appointed Vanessa Rodriguez at the head of Community Lending and Investment (CLI) within its Commercial Real Estate group (CRE). The CLI unit is a leading investor in affordable multi-family housing in the United States as well as an active lender for affordable housing projects. In this role, Rodriguez will oversee all debt and equity financing for affordable multi-family housing and community-driven developments.
Rodriguez will report to Kara McShane, head of CRE.
In 2020, CLI provided over $ 4.9 billion in capital commitments through NMTCs, Low Income Housing Tax Credits (LIHTC), CDFIs, and construction loans.
During his 20-year career with Wells Fargo, Rodriguez held various relationship manager positions in the areas of real estate banking, commercial banking and the practice of commercial real estate. For the past five years, she has been the Co-Director of the Greater San Francisco Bay Area Market at Real Estate Bank. Previously, she was co-market manager for the New York area. She has managed a total loan portfolio of approximately $ 8.5 billion and led many notable transactions, including the business development of Wells Fargo at Hudson Yards. Rodriguez joined Wells Fargo in 2002 as a summer analyst and completed the credit management training program in 2005.
Wells Fargo CLI specializes in providing debt and equity capital to organizations that provide economic development and affordable housing in communities in need nationwide. Primarily focused on national economic redevelopment and housing development, it is a leading investor in affordable multi-family housing in the United States, as well as an active lender for affordable housing projects.
McFadden joins LIIF
Stephanie McFadden was appointed Loan Director (CLO) of the Low Income Investment Fund (LIIF), a national CDFI. Based in the San Francisco office, she is responsible for deploying the organization’s capital on its platform, including LIIF’s revolving loan fund, NMTC allocations, federal grant programs, and debt fund activities. .
McFadden is also responsible for implementing LIIF’s impact lending strategy and managing and supporting relationships with borrowers and stakeholders.
She has over 20 years of experience in commercial real estate, with a focus on multi-family and affordable mortgage products. McFadden has extensive knowledge of all aspects of multi-family housing including finance, development, construction and asset management / maintenance. Prior to joining LIIF, she was a Senior Advisor in the Office of Multifamily Production of the Department of Housing and Urban Development (HUD). She previously held positions at CBRE Group, PNC, Vitus Group and ARCS Commercial Mortgage.
In addition, she is Deputy Chair of the Affordable Housing and Workforce Council of the Urban Land Institute and has served on the Board of Directors and a member of the Western Mortgagee Advisory Council and the Mortgage Bankers Association.
KeyBank Adds Affordable Housing Veteran to Team
KeyBank Community Development Lending and Investment (CDLI) appointed Ted witt as a senior banker in the Midwest region. He will focus on KeyBank’s community development banking efforts in the north-central states, which are part of the bank’s affordable housing growth plan.
The move comes as KeyBank continues its commitment to affordable housing across the country, with a focus on expanding its CDLI platform. Witt is based in Omaha, Nebraska, and reports to Greg Kiger, CDLI Midwest Regional Director.
Witt brings nearly 25 years of affordable housing and LIHTC experience in finance, development and consulting. Prior to joining KeyBank, he was responsible for LIHTC-focused business development at Horizon Bank, where he was responsible for covering 13 states. Previously, Witt was Director of Development at Kittle Property Group. He was also COO and Director of Asset Management at Midwest Housing Equity Group. Witt began his career as a financial analyst at First National Bank in Omaha.
KeyBank CDLI funds projects that stabilize and revitalize communities in all 50 states. As one of the leading providers of community development capital and affordable housing in the country, KeyBank’s platform brings together construction, acquisition, resyndication transition and preservation loans, as well as HUD credit lines, agencies and permanent mortgage executions; and equity investments for low income housing projects, especially LIHTC financing.
Wrzosek joins NewPoint Real Estate Capital
Rob wrzosek has been appointed Managing Director and Head of Affordable Off-Agency Strategies at NewPoint Real Estate Capital.
He joins NewPoint as the company integrates affordable housing as a central part of its overall lending strategy. He is responsible for developing exclusive agency-less executions and managing future investments in affordable housing.
Wrzosek brings more than 24 years of affordable housing and financing experience to the company, leveraging its established cohort of veterans to guide the expansion of the company’s line of financing solutions. He was most recently with BlueFin Capital Management, where he managed a debt fund focused on financing affordable and worker housing developments. Prior to BlueFin, Wrzosek was responsible for the affordable housing finance activities and the Federal Housing Administration (FHA) at Berkeley Point (now Newmark). Wrzosek is also the former chairman of Hunt Mortgage Group and has managed the tax-exempt affordable home securitization and tax fairness syndication platforms for Credit Suisse.
NewPoint is a joint venture of Meridian Capital Group and Barings. Launched in the second quarter of this year, the company is a Lender Fannie Mae DUS, Freddie Mac Optigo Servicer, and a HUD / FHA Multifamily Accelerated Processing and LEAN Lender. In addition, NewPoint offers a variety of exclusive loan products and programs.
Meta Housing expands its management team
Taylor rasmussen and Loren messeri both were promoted to vice president of development at Meta Housing Corp., a Los Angeles-based developer, owner and operator of affordable housing.
Rasmussen previously served as Director of Development and managed the close of financing for the construction of more than 800 affordable housing units. Rasmussen is instrumental in developing and managing key industry partnerships, as well as recruiting and retaining members of the development team.
Messeri, who served as Director of Development, joined Meta Housing as Project Manager in 2017. She has extensive experience in the affordable housing sector, with her previous experience including project management positions at Skid Row Housing Trust. During his tenure at Meta Housing, Messeri managed complex financial transactions and expansion into new markets, resulting in the development of over 800 units statewide.