Boston. MA – July 25, 2012 – (RealEstateRama) — Preservation Housing Management, LLC (PHM) the property management company of nonprofit Preservation of Affordable Housing (POAH) has named Kevin Baptista Director of Business Development.
Baptista was Asset Manager for MB Management since 1997 where he implemented property refinancing and partnership restructuring initiatives that enabled properties to provide affordable housing while enhancing the owners’ return on their investments.
He was the lead underwriter for MB for new mortgage originations of more than $156m in 24 developments in six states including FHA-insured, state-agency bond financed, Fannie Mae, Freddie Mac and other private capital sources. He coordinated the sale of 20 properties in the MB portfolio that generated sale proceeds of $200m, consulted to other owners, managers, and housing providers and assisted in new business development.
“Kevin brings a powerful set of skills and expertise in affordable housing particularly around rental subsidy programs, operational underwriting and risk analysis,” said PHM President Lee Felgar. “He will play an instrumental role in revenue management involving subsidized, market rate and mixed-income revenue from the POAH-owned portfolio we manage in nine states and the District of Columbia.”
Baptista served as a property manager of affordable and market rental developments for a Rhode Island-based management company in the early 1980s. In 1984 he joined MassHousing (formerly Massachusetts Housing Finance Agency) in the Multi-family Asset Management Department where he was responsible for financial, regulatory and management oversight of affordable rental housing developments.
At MassHousing’s Preservation Department, he developed strategies to facilitate the transfer of ownership and recapitalize properties in the MassHousing portfolio using various resources including low-income housing tax credits, federal and state loan funds, and taxable and tax-exempt bond financing. This included the largest disposition of assets in the MassHousing portfolio that resulted in the recapitalization of two properties comprising 938 rental units using tax credit allocations that exceeded $2m annually. The equity raised through the syndication of these tax credits, along with other debt financing resources, facilitated the successful transfer and rehabilitation of these properties.
Baptista is a licensed Massachusetts Real Estate Broker and received several industry awards. He has designations from the MIT Center for Real Estate and the Institute for Real Estate Management.
About Preservation of Affordable Housing
Preservation of Affordable Housing (POAH) is a nonprofit organization whose mission is to preserve and steward affordable rental housing to provide stability, hope and economic security to low- and moderate-income individuals and families. POAH owns and operates close to 8,000 affordable homes at 58 properties in nine states and the District of Columbia.