Personnel News From Slatt Capital, JLL, NorthMarq
Elizabeth Burnett Joins Slatt Capital as Managing Director of Loan Servicing
Slatt Capital announced Elizabeth Burnett joined its leadership team as Managing Director of Loan Servicing. She is responsible for the twelve-team member loan servicing division responsible for managing $5 billion in commercial real estate loans.
Burnett has 20 years of loan servicing experience most recently as the head of servicing for a local debt fund and co-head of servicing at Gantry Inc. She holds the prestigious CCMS designation and has been an active member of the Mortgage Bankers Association.
JLL Valuation Advisory Group Forms Dedicated National Affordable Housing Practice
Due to the strong demand for affordable rental units in the U.S., JLL’s Valuation Advisory group formed a specialized national affordable housing practice and promoted Managing Directors Chip Ard and Andrea Gillman to co-lead the group.
Ard and Gillman are now responsible for expanding the national platform and their growing team will be involved with any valuation that involves an affordable component. With a combined 35 years of practice, their experience includes appraisals in connection with the allocation of state and federal tax credits as well as many specialized affordable housing programs, including the HUD Multifamily Accelerated Processing program. The team also has experience with Freddie and Fannie agency appraisals, ad valorem tax protests, consulting, litigation support services and market studies.
As co-heads of the affordable housing practice for Valuation Advisory, Ard and Gillman report to Tony Lenamon, Americas Head of Valuation Advisory and are based in Tulsa, Okla. Previously, affordable housing was part of the group’s overall multifamily practice. Now, as a stand-alone group, they lead a team of affordable housing specialists and multiple partners throughout the rest of the multi-platform. They plan on growing that number along with the booming demand for their services.
“The affordable housing market is as active as it has ever been across the country,” Ard said. “Skyrocketing rent growth in the market-rate segment has led to an increased need for more affordable options, and there just aren’t enough affordable units. We expect a surge in the amount of new affordable and workforce housing developments.”
Recently, the Federal Housing Finance Agency published a final rule establishing updated housing goals for Freddie Mac and Fannie Mae that requires them to support the development of at least 415,000 affordable homes annually available to renters, which is an increase from 315,000 rental homes in 2021.
Jeffrey Ketron Joins Northmarq to Lead Fannie Mae Production
Northmarq hired Jeffrey Ketron as Senior Vice President of National Multifamily Production – Fannie Mae.
Ketron, based in Northmarq’s Washington, D.C. office, previously served for 14 years at Fannie Mae. In this new role, he will lead Northmarq’s Fannie Mae production and will chair the company’s Agency Committee to coordinate collaboration across agency platforms and with the debt, equity and investment sales network.
Prior to Fannie Mae, Ketron spent seven years with Credit Suisse and seven years with Wachovia Bank, all in the banks’ commercial real estate finance sectors.