Greystone Real Estate Capital Adds Key Hires to LIHTC Platform

March 18, 2024

From left to right: Spencer Gordon, Mike Callahan, Michael Egidi, Benjamin Jarvis
From left to right: Spencer Gordon, Mike Callahan, Michael Egidi, Benjamin Jarvis

Greystone announced that its Low Income Housing Tax Credit (LIHTC) Syndication Platform, Greystone Real Estate Capital, has added four senior members to its team. Mr. Mike Callahan has been appointed  Senior Vice President, Director of Investment Management; Mr. Benjamin Jarvis has been appointed Senior Vice President, Developer Production; Mr. Michael Egidi has been appointed Vice President, Investor Production; and Mr. Spencer Gordon has been appointed  Vice President, Director of Credit & Underwriting.

“It’s gratifying to grow a team of committed professionals who have such deep experience in affordable housing equity and finance, and we are energized to make an impact on the sector as we develop Greystone’s LIHTC syndication platform,” said Mr. Greg Voyentzie, head of Greystone Real Estate Capital. “Mike, Ben, Michael, and Spencer will serve as key assets to the Greystone Real Estate Capital team as we build out our platform, which will have the unique advantage of support from Greystone’s nimble, creative teams and diverse set of business lines and resources.”

Mr. Callahan previously spent 28 years with Boston Capital serving as the Director of Asset Management and was a member of the Investment, Disposition, and Management Committees. At Boston Capital, Mr. Callahan was responsible for a team of over 60 professionals monitoring and reporting on the performance of the firm’s $16 billion affordable housing portfolio, including both lower-tier asset management and upper-tier investor relations functions. Mr. Callahan designed and implemented strategic objectives for the department and created policies and criteria for monitoring portfolio performance. In addition, he led the development of proprietary software designed to address the asset management needs of tax credit portfolios. Mr. Callahan holds a Bachelor’s degree from Providence College and an M.B.A. from Vanderbilt University’s Owen School of Management.

Mr. Jarvis has over 19 years of multifamily affordable housing experience in originating, structuring, negotiating and closing Low Income Housing Tax Credit (LIHTC) transactions nationwide. Prior to joining Greystone, Mr. Jarvis served as Director of Acquisitions for Redstone Equity Partners where he sourced, evaluated and structured LIHTC transactions throughout the Midwest region. He was also responsible for marketing Redstone’s multifamily equity products, developing and managing client relationships, participating on state housing finance agency coalitions and QAP advisory boards. Prior to that role, Mr. Jarvis served as Vice President of Acquisitions at Boston Capital where he originated and closed over $1 billion of LIHTC equity investments nationally. He was responsible for marketing Boston Capital’s multifamily housing products, establishing new developer relationships and originating investment opportunities for multi and proprietary funds. Mr. Jarvis holds a Bachelor’s degree from Salve Regina University and a Certificate in Real Estate Finance from Boston University.

Mr. Egidi, with over 15 years of affordable housing industry experience, is responsible for asset selection, fund placement, structuring, marketing, and management of institutional investor relationships for Greystone Real Estate Capital. Throughout his career, Mr. Egidi has been involved in the development, capital raising, underwriting and closing of over $2 billion of investor capital into tax advantaged investment funds. Prior to joining Greystone, he was a Vice President of Investor Relations with WNC & Associates Inc. in its tax credit syndication business. Responsible for raising equity, coordinating due diligence, and closing investors into proprietary tax credit partnerships, he originated and syndicated proprietary fund partnerships representing over $175 million in gross equity. Prior to joining WNC, he spent over 10 years in varying roles in the Community Finance group with Capital One Financial Corporation, most recently as Director and Team Lead of multi-investor equity originations and underwriting, supporting Capital One’s community development finance strategy and CRA lending and investment goals. Mr. Egidi holds a Bachelor’s degree from the University of Michigan, an M.B.A. from the Booth School of Business at the University of Chicago, and holds the Chartered Financial Analyst® designation. Mr. Egidi also holds Series 22 and 63 securities licenses through FINRA.

Mr. Gordon, bringing over 12 years of affordable housing experience, provides Credit & Underwriting direction and guidance for all of Greystone Real Estate Capital’s investments. Having been involved in the capital raising, underwriting, and closing of over $1 billion of investor capital into tax advantaged investment funds, Mr. Gordon joins Greystone from PNC Bank, N.A. where he was a Senior Underwriting Manager, VP in the Tax Credit Solutions business. Managing a team of LIHTC equity and debt underwriters delivering investor and bank capital into proprietary and multi-investor tax credit partnerships, his team closed over $700 Million in LIHTC, Historic and Solar tax credit equity into tax credit developments. Prior to joining PNC, Mr. Gordon was an Assistant Vice President, Account Manager with Boston Financial, where he analyzed, structured, and closed LIHTC multifamily affordable housing transactions. While there, he also served as a Vice President, Capital Officer, responsible for implementing, structuring and managing a new $100 million proprietary relationship. He holds a Bachelor of Business Administration from the Cox School of Business at Southern Methodist University.

These new roles are integral to the growth of Greystone Real Estate Capital, which will deploy capital for the preservation and new construction of affordable housing communities across the U.S., and ultimately create jobs, generate tax revenue for municipalities, and positively enhance the lives of families, seniors, minorities, veterans, and those with disabilities who seek affordable housing.

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