PATRICK J . FRY SENIOR VICE PRESIDENT , DEVELOPMENT
Patrick Fry is a Senior Project Executive overseeing the acquisition, development, disposition and financing of affordable multifamily housing properties. His experience in his current role includes closing more than $210 million low income housing and historic tax credit transactions using a variety of debt and gap funding sources. He is well versed in the development-related program and compliance aspects of the LIHTC program and tax exempt bond financing, as well as experienced in conducting rehabilitation and
new construction activities in compliance with federal, state and local requirements related to tenant relocation, environmental remediation, prevailing wage standards, local resident and MBE/WBE hiring and accessibility requirements. Prior to joining The Foundation, Mr. Fry was an investment banker/municipal bond underwriter specializing in affordable housing finance. As a banker to nonprofit, for-profit and public housing authority clients, he completedmore than 75 housing bond transactions totaling more than $1.2 billion. He served as a board member of Brooklyn Community Housing and Services, Inc., a nonprofit supportive housing organization, from2003 to 2012. He received a B.A. from the University of Redlands and an M.B.A. from the Yale School of Management.”
Experience
THE NHP FOUNDATION 2008 – Present Senior Vice President, Development Senior Project Executive overseeing the acquisition, development, disposition and financing of affordable housing properties Closed more than $75 million in acquisition/ rehabilitation and new construction federal low income housing tax credit (“LIHTC”) transactions using a variety of debt, equity and gap funding sources Responsible for negotiating terms with financing providers and joint venture partners, as well as construction contracts and engagements with professional services providers Experience in overseeing renovations and new construction activities in compliance with federal, state and local requirements related to tenant relocation, environmental remediation, prevailing wage standards, local resident and MBE/WBE hiring and accessibility requirements WELLS FARGO (tka Wachovia Capital Markets LLC) 2006 – 2008 Director, Public Finance Group Recruited to be the lead public finance banker for a new direct bond purchase program targeted to affordable housing transactions combining tax exempt bonds and LIHTC. Coordinated external and internal working groups, including the Wachovia program partners: construction lending, permanent/agency lending, and municipal structured finance. Closed direct bond purchase transactions in Florida, Illinois, California, and Texas.
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