Jonathan Rose Companies Appoints Boyer West Coast Director
LOS ANGELES, CA Jonathan Rose Companies, LLC, names affordable housing finance veteran Kelly Boyer West Coast Director in their newly acquired Rose Community Capital business based in Los Angeles, California.
The finance company, acquired as part of Jonathan Rose Company's purchase of Forest City's affordable housing business in March, will expand on Forest City Capital's 47-year history of providing FHA loans to clients' affordable and mixed income residential projects in the Midwest and the Northeast. Rose Community Capital plans on expanding its geographic footprint and volume, with a particular focus on the West Coast.
In her new position, Boyer will work with Jonathan Rose Companies New York City-based acquisitions team sourcing new investment opportunities on the West Coast, including direct investments and joint ventures, as well as managing operating partner relationships. She will also originate/coordinate, process and close company and third party loans involving the U.S. Department of Housing and Urban Development's Federal Housing Administration (FHA) mortgage insurance program.
Boyer has a long track record as a results-oriented leader in her field. She was formerly HUD FHA/MAP Director and FHA Chief Underwriter for Citibank N.A./City Community Capital, the largest affordable housing lender in the United States with over $4 billion in loan originations. She was previously the U.S. Department of Housing and Development (HUD) Los Angeles Multifamily Hub Director where she worked to modernize FHA financing and increase coordination with LIHTC and other financing programs.
"Kelly Boyer is a tremendous addition to Jonathan Rose Companies and our expanded business lines as the company looks to grow its mission to develop communities that enhance opportunity for all," said Michael Arman, Chief Financial Officer at Jonathan Rose Companies. "Her expertise is highly respected and widely recognized throughout the West Coast, and we are excited to have her join our new Los Angeles office."
"Working with Jonathan Rose Companies, a national leader in building and preserving green, transit-oriented affordable and mixed-income housing is the culmination of my career that has been dedicated to these goals," said Boyer. "I look forward to expanding Jonathan Rose Companies' presence on the West Coast as the company dramatically scales up their investment, development and financing activities nationwide."
Opening an LA office for Jonathan Rose Companies FHA MAP Lender is part of an overall strategy to increase Rose's presence on the West Coast. Rose also anticipates increasing its acquisition activities to build on its current base of real estate assets on the West Coast, which includes affordable and mixed income, retail and office buildings. Over time, Rose anticipates its presence on the West Coast to include the full spectrum of capabilities required to finance, acquire, and reposition projects inclusive of incorporating green and social programs to meet its mission and enhance value for its investors over the long term.
The new West Coast office marks the fifth location for Jonathan Rose Companies, which also has offices in New England (CT), New York City/East Coast (covering Westchester, NYC, New Jersey, Philadelphia and Washington DC); Great Lakes (Ohio) and Rocky Mountain regions (Denver).