Conversations with the C-Suite: Affordable Housing

July 15, 2020

Conversations with the C-Suite: Affordable Housing

July 15, 2020

On Thursday, July 16, Justin Wheeler, Berkadia’s CEO, Hilary Provinse, Head of Mortgage Banking, and David Leopold, Head of Affordable Housing, hosted Conversations with the C-Suite: Affordable HousingMilton Pratt Jr. from The Michaels Organization and Michael J. Novogradac from Novogradac & Company LLP joined us for an update on the current state of Affordable Housing and to share exclusive insights. 

As always, we’re committed to sharing the latest insights, data and thought leadership with our clients and partners. As we navigate this ever-changing landscape together, that commitment has never been more important, so we hope this webinar will be a valuable resource to you and your team.


Justin WheelerJustin Wheeler is Chief Executive Officer and a member of Berkadia’s Management Committee.

Prior to joining Berkadia, Mr. Wheeler was the Chief Operating Officer of Leucadia National Corporation and was appointed Vice President of Leucadia in 2006. As part of his prior role, Mr. Wheeler was responsible for M&A activities, operating portfolio performance, cash management and investment, as well as various administrative functions. Previously, he served as President and Chief Executive Officer of American Investment Bank, N.A., a wholly owned subsidiary of Leucadia.

Hilary ProvinseHilary Provinse is Executive Vice President, Head of Mortgage Banking and a member of Berkadia’s Management Committee. In this role, Ms. Provinse oversees more than 148 experienced mortgage bankers and their teams located in 40 offices across the country. These bankers serve clients across all multifamily and commercial real estate channels, including specialized teams with expertise in seniors housing and healthcare, hotels and hospitality, student housing, affordable housing and manufactured housing. Ms. Provinse ensures that clients benefit from our market leadership and deep relationships with diverse capital sources, including Berkadia’s 48 Life Company’s correspondents, banks, CMBS, Debt Funds, Fannie Mae, Freddie Mac and HUD.

In 2019, Berkadia’s combined production volume of loan origination, investment sales and JV equity placements exceeded $36 billion, of which $27 billion is attributed to the company’s mortgage banking division. Berkadia was also ranked as Freddie Mac’s number one conventional Optigo lender.

Previously, Ms. Provinse was Senior Vice President and Head of Customer Engagement at Fannie Mae, where she managed the team who was responsible for all of Fannie Mae’s production activities and customer relationships – overseeing more than $100 billion of production during the course of her tenure. Prior to joining Fannie Mae in 2003, Ms. Provinse spent 10 years on Wall Street in investment banking, working for Goldman Sachs & Co. and Bear Stearns & Co. in New York.

David Leopold – As SVP, Head of Affordable Housing, David Leopold manages all facets of Berkadia Affordable Housing, an integrated business that includes Mortgage Banking, Investment and Sales advisory services, and Tax Credit Equity Solutions – providing comprehensive financial solutions to owners and developers of multifamily affordable housing and investment management services for investors.

David joined Berkadia in November of 2019 to lead the integration of Berkadia Affordable. Prior to that, he spent five years with Freddie Mac Multifamily as Vice President of Affordable Sales and Investments where he grew Freddie Mac’s affordable production from $2.2 billion in 2014, to about $9 billion in 2019 – while maintaining 0 delinquencies. He also led Freddie Mac’s reentry into the LIHTC equity investment business in 2018. Prior to Freddie Mac, David was a Tax Credit Equity Executive for Bank of America Merrill Lynch, leading the Nation’s second largest tax credit equity investor from 2009-2015. David’s background also includes municipal bond finance, structured finance and securitization, public private partnerships, and tax efficient impact investing.

Milton R. Pratt, Jr.As Executive Vice President, Development, Mr. Pratt co-leads Michaels Development—Affordable Living at The Michaels Organization. Mr. Pratt focuses on pipeline growth and asset performance through relationships with various governmental and industry groups. He works closely with Michaels’ regional development teams to generate opportunities and works with Michaels’ management team regarding existing asset restructuring under HUD’s RAD/MTM or ACC programs. 

Michael J. NovogradacMichael Novogradac is the Managing Partner of Novogradac.  He specializes in affordable housing, community development, historic preservation and renewable energy. Mr. Novogradac’s focus is in real estate taxation and accounting. He is the author of numerous real estate-related tax and accounting articles and books, including the Novogradac Opportunity Zones Handbook, the New Markets Tax Credit Handbook and the Low-Income Housing Tax Credit Handbook. A frequent speaker at tax incentive conferences and forums throughout the country, Mr. Novogradac is active in advocating for the inclusion of affordable housing, historic preservation, community development and renewable energy incentives in federal and state tax policy and broadcasts a weekly podcast, Tax Credit Tuesday. In addition, he serves as advisor on industry and governmental affairs for the NMTC Working Group, LIHTC Working Group and the Opportunity Zones Working Group. Mr. Novogradac also serves on the executive committee of the Housing Advisory Group and the boards of directors of the Affordable Housing Tax Credit Coalition, the National Housing Conference, the NMTC Coalition and Historic Tax Credit Coalition. In 2016, Mr. Novogradac was inducted into the Affordable Housing Hall of Fame. He also received The Affordable Housing Visionary Award from The NHP Foundation in 2018, in recognition of his contributions to the affordable housing community. Mr. Novogradac graduated from the University of California, Los Angeles, with a bachelor’s degree in economics. He received an MBA from the University of California, Berkeley. He is licensed in California, Oregon, Maryland and Texas as a certified public accountant.