Enterprise Expands Structured Finance Origination and Fund Management Team
Directors Specialize in Range of Housing and Community Development Products
Columbia, Md. (March 16, 2007) – A national leader in affordable housing finance and community investment, Enterprise Community Investment, Inc. announced today the appointment of John Ducey, Edie Loughlin and Dan McGrain as directors of structured finance, and also the relocation of Neel Shah to the company’s New York City office. Enterprise provides critical financial products, technical assistance services and business models to support and create affordable housing and community development.
“Having investment and development professionals of John, Edie and Dan’s caliber at Enterprise expands our ability to bring increased capital resources to communities across the country,” said Joe Wesolowki, senior vice president. “We’re thrilled to have them on our team, offering their expertise and service to our customers,” he said.
John Ducey, director, structured finance originations, is responsible for originating equity and mezzanine debt for market-rate housing and New Market Tax Credit investments targeted for mixed-use and commercial developments.
Ducey’s 20-year career spans real estate finance, community development and affordable housing, and includes originating, structuring and closing investments of over $530 million. He has extensive experience underwriting multifamily tax-exempt bond transactions, originating conventional construction as well as Fannie Mae permanent loans, and structuring permanent loans for multifamily housing.
As director of Asset Management, Edie Loughlin oversees and directs the asset management and monitoring of a real estate investment portfolio that includes equity and mezzanine debt for market-rate housing, investments leveraged with New Markets and Historic Tax Credits, and other real estate financing products.
Loughlin’s 25-year real estate career includes extensive experience in equity and debt underwriting, financial analysis, formal credit programs, construction administration, transaction negotiation, structuring, documentation, problem asset management, valuation, and disposition. She joined Enterprise’s structured finance business in May 2006.
Dan McGrain is director of fund management, overseeing all aspects of Enterprise Community Investment’s private equity funds, including raising capital, sourcing, structuring and closing investments, managing daily fund operations, and overseeing asset management and financial reporting functions. He is currently marketing the Maryland Regional Workforce Housing Fund I.
McGrain brings over 20 years experience in land acquisition and development, capital raising and fund management, most recently as managing director, partner and co-founder of a regional private equity firm that raised, invested and managed over $100 million in equity capital in twelve separate funds for land development and housing projects. Ducey, Loughlin and McGrain all work from Enterprise’s Columbia, Md. office.
Neel Shah, director of acquisitions, recently relocated to Enterprise’s New York office. He originates, underwrites and closes real estate investments in the northeast, primarily mezzanine debt for multifamily residential projects and mixed-use developments using New Market Tax Credits. Shah joined Enterprise in early 2005, with a background in investment banking and commercial real estate, and has since closed and managed investments in over $75 million of new construction and rehabilitation projects.
Enterprise Community Investment, Inc. (Enterprise) is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. Enterprise leverages low-income housing, new markets and historic rehabilitation tax credits, short- and long-term debt, and development services to capitalize projects that make a catalytic difference in communities. Over the last 25 years, Enterprise has privately raised more than $7 billion to finance more than 200,000 affordable rental and for-sale homes, create vital communities and help transform the lives of low-income Americans, particularly those at the lowest end of the economic scale. Currently, Enterprise is investing in communities at a rate of nearly $1 billion a year. Visit www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.
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