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What it takes to go from your first deal to a lasting development career Getting started in real estate development can feel overwhelming, especially when you're trying to figure out who to hire, where to find deals, and which lenders will actually take a meeting with you. In this episode, Keith, Monty, and Alice share what it really takes to build a strong foundation as a new developer. They cover how to put together the right team, where to find properties (from bank REO to sales brokers to good old fashioned drive bys), and what lenders like CDFIs and community banks are looking for. Plus, they break down the financial metrics you need to know, like DSC, LTV, and amortization, so you can walk into any conversation with confidence. Have questions after listening? Reach out, we're happy to help.

Join us for this month's episode of Cinnaire's Advancing Communities Podcast, featuring the asset management series AM With A&M. Hosted by April Priebe and Miranda Bialk, this series dives into strategies, insights, and resources for professionals working in the field of asset management. In the US, only 12% of asset or fund management positions are held by women, with less than 2% of teams being led by women. In this episode, April and Miranda invited the women at Cinnaire to discuss their experiences working in asset management. Guests for this episode include: Andrea Johnson, Asset Manager; Amy Pool, Compliance Specialist; Lora Brantley-Gilbert, VP of REO and Special Assets: Cassie Oracz, Asset Manager; Brooke Allen, Stabilized Asset Manager; Pam Darke, Stabilized Asset Manager; Jillian Wilson, Fund Analyst; Beth Baar, VP of Stabilized and Construction Assets; Karen Benson, Compliance Specialist; and Jen Wendtland, Fund Manager. Tune in to hear:  Challenges women have faced in the field Strategies they have implemented to overcome gender-biased situations; The benefits that come from having diversified professionals serving as property managers, asset managers, compliance specialists, inspectors and developers in a traditionally male-dominated industry; And support systems available, including the Michigan Women in Affordable Housing Network (WAHN) and inclusive employers like Cinnaire.   About Our Hosts: April Priebe manages special assets for Cinnaire, and Miranda Bialk is the Manager of Stabilized Assets. Together, they bring over 22 years of experience in affordable housing and asset management.

Join us for a special episode of Cinnaire's Advancing Communities Podcast, featuring the asset management series AM With A&M. Hosted by asset management experts April Priebe and Miranda Bialk, this series dives into strategies, insights, and resources for professionals working in the field of asset management. In this episode, April and Miranda welcome Peter Giles, Senior Vice President of Public Funding, and Max Novak, NMTC Program Manager, both from Cinnaire. With a combined 20 years of experience, Peter and Max break down the intricacies of New Market Tax Credits (NMTC) and their role in driving impactful community development projects. Tune in to learn: The key differences between NMTC and LIHTC investments The guidelines and qualifications for NMTC eligibility The benefits and challenges of managing an NMTC portfolio How developers and investors can tap into the NMTC program to support community-focused projects Don't miss this insightful discussion about leveraging NMTCs to build stronger, more equitable communities. About Our Hosts: April Priebe manages special assets for Cinnaire, and Miranda Bialk oversees construction and lease-up projects. Together, they bring over 22 years of experience in affordable housing and asset management. To listen to Advancing Communities Podcast, click below for: Google Podcasts Apple Podcasts

Cinnaire's Advancing Communities Podcast includes a special asset management series called AM With A&M. Asset management experts April Priebe (A) and Miranda Bialk (M) bring together thought leaders, policy makers, and others to discuss issues, share strategies and provide resources to professionals working in the field of asset management (AM). In this month's podcast, April and Miranda invite Kristin Bolan, manager, special and stabilized assets, Cinnare, to discuss how asset managers identify emerging risks and work to stabilize troubled assets.  Kristin has been with Cinnaire for six years, where she has served as an asset manager, special assets/stabilized assets and now oversees Cinnaire's stabilized equity portfolio including special assets and their asset managers. In this podcast, you'll learn: Steps to identify an emerging risk What triggers a project to get on the watchlist How to stabilize an asset to emerge off the watchlist. The importance of having a proactive asset management team with open communications among partners

Cinnaire's Advancing Communities Podcast includes a special asset management series called AM With A&M. Asset management experts April Priebe (A) and Miranda Bialk (M) bring together thought leaders, policy makers, and others to discuss issues, share strategies and provide resources to professionals working in the field of asset management (AM). In this month's podcast, April and Miranda invite Joseph Hankes, Senior Asset Manager for the Wisconsin Housing Preservation Corp. to talk about asset management from the developer's perspective. As a senior asset manager, Joseph is responsible for developing and maintaining strategic asset management, financial management, and risk management activities for WHPC, the largest owner of affordable rental housing in the State of Wisconsin. In this podcast, you'll learn about:     •    The importance of collaboration between the asset management team and the development team, particularly in the early stages of development     •    What to consider when assessing risk levels from the construction phase through lease-up     •    What demarcates the construction phase from the lease-up phase     •    The importance of monitoring actual outcomes vs. projections to ensure compliance, particularly in the first year.     •    How to develop contingency plans if compliance is endangered     •    And how a Tik Tok challenge sparked an asset management crisis. On the next episode of AM with A&M, April and Miranda will discuss emerging risk and special assets. About Our Moderators: April is an asset manager for Cinnaire's special assets and Miranda is an asset manager for construction and lease up. Together they have over 22 years of experience working in affordable housing, specifically with property and asset management.  To listen to Advancing Communities Podcast, click below for: Google Podcasts Apple Podcasts Joe Hankes's bio – Episode 3 Joseph is a Senior Asset Manager for the Wisconsin Housing Preservation Corp., a nonprofit affordable housing owner and developer with assets of $620M consisting of over 8,993 units located throughout the State of Wisconsin. In his role he is responsible for developing and maintaining strategic asset management, financial management, and risk management activities for the company's portfolio. He helps oversee portfolio performance, stakeholder reporting, and insurance administration. Working with external and internal partners, his responsibilities include oversight of third-party management companies, capital planning, and refinancing/disposition of assets. Joseph received a BA in General Management from the University of Wisconsin - Whitewater.  He is also a Certified Asset Manager (CHAM) and holds a Novogradac Property Compliance Certification (NPCC). Joseph enjoys spending time with his family, traveling, hiking, reading, basketball and cooking. He lives in Beaver Dam WI with his wife, son, and daughter.

Cinnaire's Advancing Communities Podcast includes a special asset management series called AM With A&M. Asset management experts April Priebe (A) and Miranda Bialk (M) bringing together experts in the asset management industry to discuss issues, share strategies and provide resources to professionals working in the AM field  In this month's podcast, April and Miranda invite Beth Baar, Manager, Construction & Lease Up with Cinnaire to explain the vital role Asset Management plays within the affordable housing industry. She discusses the importance of having open conversations with partners to identify issues and solutions that will be productive and meaningful for all.     As a syndicator, Cinnaire balances the needs of both investors and developers to ensure compliance of Section 42 program tax credit investments for affordable housing. In this podcast, you'll learn:   How asset management is related to syndication;   How AM's construction and lease Up teams work to mitigate risks to ensure a project maintains LIHTC compliance during the building process;  The value of selecting an experienced contractor and property manager;  The importance of managing the project once it's determined to be a stabilized asset;   The role of the asset manager throughout the 10- to15-year compliance period;  The challenges facing the real estate industry due to skyrocketing insurance rates.      About Our Moderators:  April is an asset manager for Cinnaire's special assets and Miranda is an asset manager for construction and lease up. Together they have over 22 years of experience working in affordable housing, specifically with property and asset management.   To listen to Advancing Communities Podcast, click below for:

Introduction to Asset Management with April and Miranda   In their new series on Cinnaire's Advancing Communities podcast, AM With A&M, April Priebe (A) and Miranda Bialk (M) will be introducing listeners to the world of asset management (AM). April is an asset manager for Cinnaire's special assets and Miranda is an asset manager for construction and lease up. Together they have over 22 years of experience working in affordable housing, specifically with property and asset management.   The AM With A&M podcast is designed to discuss issues, share strategies and provide resources to professionals working in the AM field. Topics will include an introduction to the fundamentals of AM, how to manage troubled or stressed assets, and how to view AM through the syndicator's lens.   Each month, April and Miranda will be inviting leaders in the industry to share their insights. During the next podcast, they will be sitting down with Beth Baar, Cinnaire's manager of construction and lease up.   Follow Cinnaire on social media to learn about upcoming podcasts.   To listen to Advancing Communities Podcast, click below for:   Apple Podcasts Google Podcasts

Cinnaire's Advancing Communities Podcast 2023 Episode 2 brings together Monty Childs, Senior Vice President, Cinnaire, with thought leaders, policy makers, and developers who are making an impact on the community development and affordable housing industries. In this episode, Monty moderates a panel discussion on how Housing Authorities can reposition and restructure their portfolios to make them more affordable and successful. Panel experts include Peter Levavi, Executive Vice President, Brinshore Development; Karly Brinla, VP of Development, Brinshore; Ron Clewer, Illinois Market President, Gorman USA; and Amber Skoby, HPS Consulting Leader, D3G. The panelists discuss how Housing Authorities can leverage Section 8 funds, RAD Section 18 Demo/Dispo and RAD Section 18 Blend to increase predictability in financing and rent adjustments. Traditionally, the federal government has underfunded Section 9. By converting to Section 8, housing projects can generate a more reliable funding stream, be used to raise debt and equity and in some cases result in higher funding. Representatives from Brinshore, Gorman and D3G described projects they have successfully converted to RAD, detailing how they were able to extend capital funds and even transfer assistance to a new construction site. To listen to Advancing Communities Podcast on Repositioning Public Housing, click below for:  Google Podcasts (2023 Podcast: Episode 2)  Apple Podcasts (2023 Podcast: Episode 2)

The Advancing Communities Podcast features Cinnaire team members conversations with thought leaders, policy makers and others who are making a difference in the community development industry.  In this episode, Chris Neary, Cinnaire SVP Policy, Research and Advocacy, sits down with Richard Rothstein, the author of two important books -- The Color of Law: a Forgotten History of How our Government Segregated America, and a new book Just Action: How to Challenge Segregation Enacted Under The Color of Law.  In The Color of Law, Richard provided a convincing and authoritative history of how explicit government policies at the federal, state, and local levels drove residential segregation on the basis of race. He also demolished the "de facto" segregation myth – still held by many – that racial segregation in our neighborhoods is the result of choices being made outside the law. His new book, Just Action, co-authored with his daughter and policy expert Leah Rothstein, provides a blueprint for starting to reverse this harmful legacy. While acknowledging that doing so will not be easy and will require a new civil rights movement, Richard and Leah Rothstein have given us both an inspirational call to action and some concrete steps that we all can take to get started in our own communities.  At Cinnaire, many of the communities we serve are highly segregated, and we know that our partners share our commitment to creating healthier communities for all people. We hope that this conversation will help educate and inspire you to take action on that shared commitment.

Cinnaire's Advancing Communities Podcast brings together our Chief Strategy Officer, Jim Peffley, with thought leaders, policy makers, and others who are making an impact in the community development and affordable housing industries. Our guests share their experiences and perspective on a range of topics, each supporting the belief that all people deserve the opportunities provided by living in healthy communities.   In this episode, Jim sits down with Dionna Sargent, Vice President of Community Development at Cinnaire who launched Jumpstart Wilmington, a program that was designed to train and equip aspiring developers with information and resources needed to revitalize their communities. Jim and Dionna are joined by Cassandra Sifford and Wali Rushan, two Jumpstart Wilmington graduates who are currently developing projects in Wilmington. Cassandra and Wali share how their experience with Jumpstart Wilmington has impacted their development projects.    Check out the podcast as Jim, Dionna, Cassandra, and Wali discuss:   What inspired Cassandra and Wali to participate in Jumpstart Wilmington The tools they learned through the program and how they are using those tools to support their development goals How Jumpstart training helped to navigate development challenges The impact they hope to make for communities as a result of Jumpstart The role mentors, speakers, and community members played throughout the program

Each month, Cinnaire's Advancing Communities Podcast brings together our Chief Strategy Officer, Jim Peffley, with thought leaders, policy makers and others who are making an impact in the community development and affordable housing industries. Our guests share their experiences and perspective on a range of topics, each supporting the belief that all people deserve the opportunities provided by living in healthy communities.    In this episode, Jim sits down with Ken Weinstein, founder of Jumpstart Germantown, and Dionna Sargent, Vice President of Community Development at Cinnaire who launched Jumpstart Wilmington. The three discuss the purpose and goals of the Jumpstart program which was designed to train and equip aspiring developers with information and resources needed to revitalize their communities. In 2016, Ken Weinstein created the Jumpstart Germantown program and since then, over 1000 aspiring developers have graduated from the program, which has served as a model for other programs throughout and surrounding Philadelphia.  Jumpstart Wilmington, the first program to launch outside of Philadelphia, welcomed its first cohort in October 2020 and has graduated 60 aspiring developers thus far.   Check out the podcast as the three discuss:  The purpose  of the Jumpstart program and why it was created  The components of the program and key development topics  The application and program selection process  The role of mentors and ongoing training for participants  The outcomes of the Jumpstart program       Click here to listen to Episode 24 of Advancing Communities!

In this episode of the Advancing Communities Podcast, Cinnaire's Chief Strategy Officer Jim Peffley continues his three-part series examining a growing crisis in the affordable housing industry where private equity funds or other investors are seeking above windfall returns at Year 15.  By ignoring Right of First Refusal agreements and forcing owners to either make large payments to retain ownership or force a sale, these profit motivated investors are jeopardizing mission-focused organizations and our nation's affordable housing stock.    In this discussion, Jim is joined by Dr. Willie Logan, President and CEO of Opa-Locka Community Development Corporation, a nonprofit builder of affordable housing communities in northern Miami-Dade, FL. Last year, Opa-Locka CDC won a landmark lawsuit against HallKeen Management, a large property management company, over ownership stakes of Aswan Village Apartments in Miami. Jim and Willie discuss the Aswan Village case and the implications the litigation has for affordable housing owners across the country facing similar troubling situations. They also provide insight into how owners and developers can protect themselves and their affordable housing properties from these troubling practices.  Read more about Opa-Locka's fight to protect affordable housing here.

Each month, Cinnaire's Advancing Communities Podcast brings together our Chief Strategy Officer, Jim Peffley, with thought leaders, policy makers and others who are making an impact in the community development and affordable housing industries. Our guests share their experiences and perspective on a range of topics, each supporting the belief that all people deserve the opportunities provided by living in healthy communities.  In this episode, Jim sits down with a panel to discuss CDFIs101, a virtual learning and networking series developed to bring young diverse professionals – tomorrow's leaders – into the CDFI industry.  CDFIs are today's impact investors leading the way as our communities and our nation recover from the Covid crisis and address systemic racial inequities. At the same time, thousands of young professionals are now more motivated than ever to find impact careers dedicated to social, economic and political justice.   In this episode Jim talks with the organizers of CDFIs101 - Mark Pinsky, founding partner of CDFI Friendly America; Lenwood Long, CEO of the African American Alliance of CDFI CEOs (AAACC); and Bria Moss-Wilkerson, communications and operations manager at CDFI Friendly America, who is also an experienced young entrepreneur and a CDFI borrower. The panel discusses the CDFIs101 program specifically designed to bring growing CDFIs together with young professionals seeking careers with social impact.   Check out the episode and share it with graduating students and young professionals in your life seeking impact careers!

The Low-Income Housing Tax Credit (LIHTC) Program has been a significant source of new multifamily housing for more than 20 years, providing more than 2.2 million units of affordable rental housing. As LIHTC investments mature, however, the affordable housing industry is becoming alarmed at growing efforts by private equity and other investors to secure unplanned payments as a condition for exiting the investment, threatening the properties' long term affordability and draining resources from mission-focused organizations.        In this episode of Cinnaire's Advancing Communities Podcast, Cinnaire's Chief Strategy Officer Jim Peffley is joined by Scott Short, CEO of RiseBoro Community Partnership, a non-profit organization based in Brooklyn, NY, committed to neighborhood revitalization. RiseBoro, like a growing number of non-profit affordable housing developers, is engaged in a legal battle with an investors to retain the property rights to Stockholm Manor, an affordable housing development in Brooklyn, NY. The case is being followed closely in the industry by owners and developers concerned with the growing threat to our nation's supply of affordable apartments by private sector entities seeking to extract additional capital beyond the tax credits the program was designed to provide.      Jim and Scott discuss the challenges RiseBoro faces with Stockholm Manor to retain property rights as the LIHTC matures and maintain it as affordable housing in a community experiencing a 24% poverty level. If precedent is set with a loss in this case, some investors will become further emboldened to test the financial limits of nonprofit partners and ownership of millions of units of affordable housing could change hands from community-based, mission-driven nonprofits to profit-driven corporations. Listen in as Jim and Scott discuss this important case and provide insight into how owners and developers can protect themselves and their affordable housing properties from these abusive practices.    You can read more about RiseBoro's fight to protect affordable housing here and also join RiseBoro's Coalition of Support for the Stockholm Manor case, which will have implications to protect low-cost housing not only in NYC, but set a precedent to protect affordable homes across America for decades to come.

In this episode of Cinnaire's Advancing Communities Podcast, Cinnaire's Chief Strategy Officer Jim Peffley is joined by NASLEF's Bobby Rozen, a longtime advocate for affordable housing in Washington who was involved in the crafting of the original Low Income Housing Tax Credit (LIHTC) program in 1986 and has been closely involved with the evolution of the program over the past 30 years. Jim and Bobby discuss an alarming and growing trend in the LIHTC industry – efforts by private sector entities seeking to extract additional capital from owners or developers of affordable rental properties beyond the tax credits the program was designed to provide. These profit motivated investors have come to view the nation's affordable housing stock as a source of capital and above market returns to the detriment of people the LIHTC program was designed to serve. Listen in to this thought provoking and informative discussion where Jim and Bobby describe these problematic trends, discuss their implications and strategize ways the industry can address these challenges to protect our affordable housing stock and the communities we serve. During the conversation, Jim and Bobby cover: A brief overview of the Low Income Housing Tax Credit (LIHTC) Program and its structure for investments The trend of private equity investors acquiring syndicators to leverage limited partner interests and extract capital from properties beyond the intended tax benefits Potential implications for the nation's affordable housing stock as capital is extracted for profit How owners and developers of affordable rental housing can protect themselves and their partnership agreements Current efforts underway to address the challenge and preserve affordable housing and LIHTC investments