Equity Markets and Syndicator Forum


Tuesday, November 7: 4:00pm – 5:30pm

The equity markets are hot as syndicators and direct investors compete for deals. Continued pressure exists to maintain a certain yield threshold for investors, while the development community continues to seek increased pricing. Hear views and opinions from some of the nation's top syndicators on the ever-changing equity market, and interact with the panelists on topics that include location, pricing and deal terms.


Moderator:

Bobby Maly, The Model Group
Bobby is responsible for directing The Model Group's daily operating activities. Prior to his role as COO, Bobby led Model Property Development. Working with key neighborhood development agencies and community partners, Bobby has taken a lead role in some of the largest recent urban revitalization projects in Greater Cincinnati, most notably in Over-the-Rhine. He has led over $400 million in real estate development and construction. Bobby is very active in Ohio/Kentucky civic organizations, including Leadership Cincinnati, the Heritage Ohio Revitalization Committee, and the City of Cincinnati's Community Development Advisory Board. He is Past Chair of the Over-the-Rhine Chamber of Commerce and is founder of Cincinnatians for Progress. Bobby earned a Bachelor of Arts degree from Miami University in Oxford, Ohio and holds a Master of Public Policy in Public Policy and Private Enterprise from the University of Maryland. He lives in Cincinnati with his wife and daughter.


Speakers:

John "Jack" Kukura III, Ohio Capital Corporation for Housing
Mr. Kukura joined Ohio Capital Corporation for Housing (OCCH) in 1996 as Vice President, Underwriting and Development in the Development Department and was promoted to Chief of Acquisitions. In this capacity, he is responsible for the management of the Development Department and the Fund Management Department. The Development Department consults with nonprofit and for-profit developers to assist them in all aspects of structuring and underwriting financing for affordable housing developments. The Fund Management Department is responsible for closing transactions, structuring and management of equity funds. Mr. Kukura is responsible for the underwriting, structuring, and management of 40 low-income housing tax credit equity funds totaling more than $3.5 billion. Mr. Kukura has over 26 years' experience in the affordable housing industry. Prior to 1996, he was a Community Development Lender with KeyCorp's Community Development Corporation. Prior to KeyCorp, he worked for a law firm that provided development advisory services on LIHTC projects for both nonprofit and for-profit developers. Mr. Kukura currently serves on the Asset Management Committee of St. Mary Development Corporation, a nonprofit developer in Dayton, Ohio. Mr. Kukura also serves on the board of the Grandview Heights / Marble Cliff Education Foundation where he is currently the President of the board. Mr. Kukura is currently serving on the Advisory Board for The Center for Real Estate at The Ohio State University. Mr. Kukura currently holds the Public Office of Council Member for the Village of Marble Cliff. Mr. Kukura has a Bachelor's Degree in Business from The Ohio State University.

Catherine Cawthon, Fifth Third CDC
Catherine A. Cawthon is President of Fifth Third Community Development Corporation (CDC) headquartered in Columbus, Ohio. The Fifth Third CDC, a wholly owned subsidiary of Fifth Third Bancorp, was created to invest in low- income housing, historic and new market tax credit projects that support community revitalization and the creation of affordable housing. The CDC invests primarily in projects within Fifth Third Bank's assessment areas, which are located in Ohio, Indiana, Kentucky, Michigan, Illinois, Georgia, Florida, Missouri, North Carolina, Tennessee, West Virginia and Pennsylvania. Since its inception, Fifth Third CDC has invested over $2 billion in more than 450 projects within their assessment areas. Ms. Cawthon is responsible for the complete investment process from underwriting and closing of the transaction through the asset management and disposition of the investments. Ms. Cawthon has served on various boards throughout Indiana and Ohio including United Way, Local Initiatives Support Corporation (LISC) and the Ohio Community Development Finance Fund. Currently, Ms. Cawthon serves on the national board of governors of the Affordable Housing Investor Council, Ohio Housing Finance Agency, Ohio Housing Council, Council for Rural Housing in Ohio's Advisory Board and the Joint Columbus and Franklin County Housing Advisory Board. Ms. Cawthon graduated from Illinois State University and earned an MBA from Indiana Wesleyan University. She currently resides with her family in Powell Ohio.

Jennifer Seamons, Key Community Development Corporation
Jennifer Seamons currently serves as Vice-President and Senior Relationship Manager of Key Community Development Corporation for KeyBank. In this position, she is responsible for acquisition of low income housing tax credits, new markets tax credits and historic tax credits within a direct investment footprint of Utah, Washington and Alaska. In addition, her responsibility includes managing investments with national syndication funds to support affordable housing developments throughout the Bank's 13 state branch footprint. Jennifer joined KeyBank in 2000 and her background in banking includes experience in branch operations, commercial underwriting, along with community development lending. She brings financial expertise, counsel, and customized solutions to help organizations reach their complex goals. Jennifer has a BBA in Accounting and Finance from Boise State University and a Master's Degree in Accounting at Boise State University. Jennifer's passion and commitment to her community is evident in her active participation in her community. She serves as President to the Idaho-Nevada Community Development Financial Institution, Inc. Board of Directors, Board Member of the Affordable Housing Investors Council and Board Member of the Boise State Alumni Association.

Tom Eastman, Enterprise Community Partners
Tom Eastman is vice president, Syndication, for Enterprise Community Investment, Inc. He manages acquisitions activity in the northeast region which includes Connecticut, Delaware, Kentucky, Maine, Massachusetts, New Hampshire, New Jersey, Ohio, Pennsylvania, Puerto Rico, Rhode Island, upstate New York, Vermont and West Virginia. Through Enterprise's core line of business, syndicating affordable rental housing transactions using the Low-Income Housing Tax Credit (LIHTC), he analyzes, evaluates and bids on affordable housing investment opportunities. Tom manages a team of two development officers and a development analyst who present investment proposals to Enterprise's Investment Committee and coordinate transaction closings. The multifamily, rental housing transactions in the northeast region includes family, senior, HOPE VI, special needs, lease-purchase and scattered-site projects. Tom has been involved in housing finance, development and management since 1995. Before joining Enterprise in 2001, he worked with a community-based organization in Cleveland where he developed various real estate projects, including those utilizing LIHTCs and Historic Rehabilitation Tax Credits. During that time, he also led an environmental demonstration project, which illustrated the benefits of applying environmental building design and technology in the production of market-rate townhomes. Tom received his BA in political science and international relations from Marquette University. He also holds a master of urban planning, design and development degree from the Levin College of Urban Affairs in Cleveland.

Michael Murray, CREA, LLC

Jim Poznik, Huntington Bank