Debt and Equity Outlook: What's in Store for 2016?
Speaker Biographies
George Littlejohn, Novogradac & Company (moderator)
George Littlejohn is a partner in the Austin, Texas, office of Novogradac & Company LLP. Mr. Littlejohn specializes in commercial real estate development, with an emphasis in affordable housing. He has extensive experience in the low-income housing tax credit (LIHTC), the historic rehabilitation credit (HTC) and tax-exempt bond financed transactions, including those subject to the auditing requirements of the U.S. Department of Housing and Urban Development (HUD). He is a frequent speaker at numerous industry sponsored conferences and workshops and serves as chairman for Novogradac & Company’s annual housing conference in New Orleans. He also serves as technical editor for the firm’s Tax-Exempt Bond Handbook: A Tax Credit Practitioners Guide to Using Tax-Exempt Bonds for Low-Income Housing Tax Credit Projects. In addition, Mr. Littlejohn represents the firm as a member of the Housing Credit Group of the National Association of Home Builders. He is the immediate past president for the Texas Affiliation of Affordable Housing Providers (TAAHP), the leading organization of affordable housing professionals in Texas, representing the affordable housing industry. Mr. Littlejohn graduated from the University of South Carolina-Aiken with an undergraduate degree in business administration with an emphasis in accounting. He received a master’s degree in accounting from the University of South Carolina and is licensed as a certified public accountant in Texas and Georgia.
Jay Segel, R4 Capital LLC
Jay Segel is an executive vice president of R4 Capital, based in the firm's Boston office, where he is responsible for acquiring housing tax-credit properties for R4 Capital. Mr. Segel has 18 years of real estate experience, including 17 years focused on low-income housing tax credit (LIHTC) properties. During his career, he has been responsible for more than $1 billion of closed real estate transactions during a 20-plus year career in real estate underwriting, acquisitions, portfolio management, and syndication. Previously, Mr. Segel was a senior vice president with Stratford Capital, where he was responsible for the origination and acquisition of LIHTC equity investments. Before Stratford Capital, he held positions in LIHTC originations for eight years at MMA Financial, for three years at Boston Capital, and was a portfolio manager at Fleet Bank (since acquired by Bank of America). Mr. Segel is a member of the board of directors of the National Housing & Rehabilitation Association (NH&RA) and is a frequent speaker at Novogradac, IPED and NH&RA conferences. He received a bachelor’s degree in finance from Ithaca College and earned a master’s degree from Boston University.
Ray Landry, Davis-Penn Mortgage Company
Ray Landry has been originating HUD-insured multifamily loans for Davis-Penn Mortgage Co. since 1995. Mr. Landry has been asked to speak at numerous conferences across the country on combining HUD-insured financing with the various available housing programs. His previous experience includes liquidation work with the Resolution Trust Corporation and the Federal Land Bank system, as well as commercial lending. He obtained a commercial banking degree from Louisiana State University.
David Dill, Stifel
David Dill is a Vice President with Stifel, Nicolaus & Company. Mr. Dill is involved in the transaction execution and quantitative structuring of both tax-exempt and taxable debt financings for the construction of new affordable housing or the refinancing of existing projects. He uses his experience with affordable multifamily properties, the Section 8 program, USDA 538 and 515 loan programs, and Low Income Housing Tax Credits to assist his clients in deal structuring, financial analyses, and cash flow preparation for all phases of transactions. Mr. Dill received a BA in Economics and a BA in Business Administration from the University of Washington. He currently maintains Series 7 and 63 licenses.
Darrick Metz, WNC & Associates
Darrick Metz is senior vice president of originations for WNC, responsible for the originations department’s $400 million production goal and department oversight. Mr. Metz is a 20-year veteran of the tax credit and real estate industry with expertise in multifamily underwriting, property acquisition and investment valuation. Before joining WNC Inc., Mr. Metz worked as a project manager for a Minnesota real estate development company and held a senior housing development officer position at the Minnesota Housing Finance Agency (MHFA) where his duties included the allocation of low-income housing tax credits (LIHTCs) and multifamily loan program underwriting. Mr. Metz has developed several tax credit and market-rate residential properties, has been active in the QAP tax credit advisory committees in several states and has been an invited speaker for state, regional and national conferences/events. Mr. Metz holds a bachelor’s degree in finance/economics from St. Cloud State University.
Mark Ragsdale, PNC Bank
Mark Ragsdale has 25 years of experience in the multifamily housing real estate finance industry and is responsible for origination of PNC’s agency finance products, including Freddie Mac, Fannie Mae and FHA. Mr. Ragsdale specializes in tax-exempt bond transactions, LIHTC debt executions and complex affordable housing transactions. He received a bachelor’s degree in economics from the University of California, Davis, and has completed programs in advanced real estate finance through the University of California, Berkeley.
Michael Ramires, The Richman Group