US Housing & Housing Finance Executive Series
Join us for a series of spotlight discussions with senior leaders from a range of industries with exposure to the booming US housing market, from financial institutions, home builders and housing REITs, to home improvement retailers, real estate brokers, and housing finance agencies.
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Agenda
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SpeakersPhilip Kibel Associate Managing Director Moody's Investors Service
Rachael McDonald Vice President - Senior Credit Officer, US Public Finance Moody's Investors Service
Thomas W. Toomey Chairman & CEO UDR, Inc.
RuthAnne Visnauskas Commissioner & CEO NYS Homes and Community Renewal
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Philip M. Kibel is an Associate Managing Director in the CRE-REIT team at Moody’s Investors Service, where he manages a team that focuses on the ratings of real estate investment trusts (REITs) and real estate operating companies (REOCs). The team
rates issuers from Canada through Latin America.
Prior to joining Moody’s, he was a Vice President with W. P. Carey & Co. LLC (WPC), a publicly traded real estate investment company that specializes in corporate real estate financing using the corporate net-lease, or sale-leaseback structure. Philip was previously associated with Goldman, Sachs & Co., where he researched and implemented estate tax planning for the general partners of Goldman, Sachs and created trusts to provide heirs with financial security. In addition, he published internal reports summarizing the estate and gift tax laws of Japan, Hong-Kong and Germany.
Philip, a New York Certified Public Accountant, is a member of the American Institute of Certified Public Accountants. He received a BS in Accounting from Lehigh University and also holds an MBA in Finance from Columbia Business School.
Rachael McDonald is a Vice President – Senior Analyst in Moody’s Public Finance Housing & State Revolving Funds team. She serves as the lead analyst for state and local housing finance agency single and multifamily bond programs and for state clean water and drinking water revolving funds. In addition, she maintains a portfolio of project finance credits. Prior to joining Moody’s in 2006, Rachael held positions at Deloitte Consulting in New York City and The Advisory Board Company in Washington, D.C. Rachael received both her M.B.A. and Masters in Social Work from Columbia University and her B.A. from Brown University.
Thomas W. Toomey is Chairman and Chief Executive Officer of UDR, Inc., a $20 billion S&P 500 company, having served as Chief Executive Officer and a member of the board since joining the Company in 2001.
Over his tenure, Mr. Toomey has been instrumental in repositioning the Company's portfolio, including the acquisition and disposition of approximately $20 billion in multifamily communities and development of over $4 billion in multifamily communities, which has led to an above average annual return of 12% for the Company's shareholders. As of December 31, 2020, UDR owned or had an ownership interest in 52,589 apartment homes in select markets across the U.S.
Prior to leading UDR, Mr. Toomey held various senior positions, including Chief Operating Officer and Chief Financial Officer, with AIMCO, a multifamily REIT peer, which in 2020 underwent a separation and became two public companies, Apartment Income REIT Corp. and AIMCO. At AIMCO, Mr. Toomey was instrumental in transforming the company into the largest apartment owner in the U.S., growing its portfolio ten-fold over his six-year tenure. Prior to AIMCO, Mr. Toomey served as a Senior Vice President with Lincoln Property Company, a multifaceted, national real estate firm, for five years.
As a leader in the real estate industry, Mr. Toomey is a Trustee and past Global Chair of the Urban Land Institute (ULI), a Board member of the ULI Foundation, a past member of the Board of Governors of the National Association of Real Estate Investment Trusts (NAREIT), on the Executive Committee of the National Multi Housing Council (NMHC), a member of The Real Estate Roundtable, and is past Chair and current Trustee of the Oregon State University Foundation.
In February 2017, Governor Cuomo appointed RuthAnne Visnauskas, Commissioner of the New York State Division of Housing and Community Renewal. In March, 2017, Ms. Visnauskas was appointed as the President/CEO of the New York State Housing Finance Agency, the State of New York Mortgage Agency and the New York State Affordable Housing Corporation, the State agencies that comprise New York State Homes and Community Renewal (“HCR”).
RuthAnne previously served as HCR’s Executive Deputy Commissioner for Housing Development, where she was responsible for strategic leadership and oversight of multi-family housing finance programs, the State of New York Mortgage Agency (SONYMA), the Mortgage Insurance Fund (MIF), the Office of Community Renewal and the Office of Faith-Based Community Development Services.
Prior to joining HCR, RuthAnne was Managing Director of the Housing Advisory Board for the Robin Hood Foundation, New York's largest poverty-fighting organization. The Housing Advisory Board was established to fund initiatives to advance the quantity and quality of affordable housing for low-income New Yorkers.
RuthAnne held also several key positions at the New York City Department of Housing Preservation and Development (HPD), including the role of Commissioner from September 2014 to February 2015. HPD is the nation’s largest municipal housing agency, in charge of the development and preservation of affordable housing and the enforcement of the City’s Housing Maintenance Code.
Prior to taking the helm at HPD, RuthAnne served as Deputy Commissioner for Development, spearheading innovative development programs, including the Preserving City Neighborhoods (PCN) initiative, designed to purchase the notes of overleveraged buildings, and stabilize them by ultimately transferring them to responsible not-for-profit owners.
She received her Bachelor degree in Urban Studies from the University of Pennsylvania and holds a Master’s degree in Urban Planning from the Robert F. Wagner School of Public Service at New York University.
Ms. Visnauskas lives in Manhattan with her husband and three children.
Philip M. Kibel is an Associate Managing Director in the CRE-REIT team at Moody’s Investors Service, where he manages a team that focuses on the ratings of real estate investment trusts (REITs) and real estate operating companies (REOCs). The team
rates issuers from Canada through Latin America.
Prior to joining Moody’s, he was a Vice President with W. P. Carey & Co. LLC (WPC), a publicly traded real estate investment company that specializes in corporate real estate financing using the corporate net-lease, or sale-leaseback structure. Philip was previously associated with Goldman, Sachs & Co., where he researched and implemented estate tax planning for the general partners of Goldman, Sachs and created trusts to provide heirs with financial security. In addition, he published internal reports summarizing the estate and gift tax laws of Japan, Hong-Kong and Germany.
Philip, a New York Certified Public Accountant, is a member of the American Institute of Certified Public Accountants. He received a BS in Accounting from Lehigh University and also holds an MBA in Finance from Columbia Business School.
Rachael McDonald is a Vice President – Senior Analyst in Moody’s Public Finance Housing & State Revolving Funds team. She serves as the lead analyst for state and local housing finance agency single and multifamily bond programs and for state clean water and drinking water revolving funds. In addition, she maintains a portfolio of project finance credits. Prior to joining Moody’s in 2006, Rachael held positions at Deloitte Consulting in New York City and The Advisory Board Company in Washington, D.C. Rachael received both her M.B.A. and Masters in Social Work from Columbia University and her B.A. from Brown University.
Thomas W. Toomey is Chairman and Chief Executive Officer of UDR, Inc., a $20 billion S&P 500 company, having served as Chief Executive Officer and a member of the board since joining the Company in 2001.
Over his tenure, Mr. Toomey has been instrumental in repositioning the Company's portfolio, including the acquisition and disposition of approximately $20 billion in multifamily communities and development of over $4 billion in multifamily communities, which has led to an above average annual return of 12% for the Company's shareholders. As of December 31, 2020, UDR owned or had an ownership interest in 52,589 apartment homes in select markets across the U.S.
Prior to leading UDR, Mr. Toomey held various senior positions, including Chief Operating Officer and Chief Financial Officer, with AIMCO, a multifamily REIT peer, which in 2020 underwent a separation and became two public companies, Apartment Income REIT Corp. and AIMCO. At AIMCO, Mr. Toomey was instrumental in transforming the company into the largest apartment owner in the U.S., growing its portfolio ten-fold over his six-year tenure. Prior to AIMCO, Mr. Toomey served as a Senior Vice President with Lincoln Property Company, a multifaceted, national real estate firm, for five years.
As a leader in the real estate industry, Mr. Toomey is a Trustee and past Global Chair of the Urban Land Institute (ULI), a Board member of the ULI Foundation, a past member of the Board of Governors of the National Association of Real Estate Investment Trusts (NAREIT), on the Executive Committee of the National Multi Housing Council (NMHC), a member of The Real Estate Roundtable, and is past Chair and current Trustee of the Oregon State University Foundation.
In February 2017, Governor Cuomo appointed RuthAnne Visnauskas, Commissioner of the New York State Division of Housing and Community Renewal. In March, 2017, Ms. Visnauskas was appointed as the President/CEO of the New York State Housing Finance Agency, the State of New York Mortgage Agency and the New York State Affordable Housing Corporation, the State agencies that comprise New York State Homes and Community Renewal (“HCR”).
RuthAnne previously served as HCR’s Executive Deputy Commissioner for Housing Development, where she was responsible for strategic leadership and oversight of multi-family housing finance programs, the State of New York Mortgage Agency (SONYMA), the Mortgage Insurance Fund (MIF), the Office of Community Renewal and the Office of Faith-Based Community Development Services.
Prior to joining HCR, RuthAnne was Managing Director of the Housing Advisory Board for the Robin Hood Foundation, New York's largest poverty-fighting organization. The Housing Advisory Board was established to fund initiatives to advance the quantity and quality of affordable housing for low-income New Yorkers.
RuthAnne held also several key positions at the New York City Department of Housing Preservation and Development (HPD), including the role of Commissioner from September 2014 to February 2015. HPD is the nation’s largest municipal housing agency, in charge of the development and preservation of affordable housing and the enforcement of the City’s Housing Maintenance Code.
Prior to taking the helm at HPD, RuthAnne served as Deputy Commissioner for Development, spearheading innovative development programs, including the Preserving City Neighborhoods (PCN) initiative, designed to purchase the notes of overleveraged buildings, and stabilize them by ultimately transferring them to responsible not-for-profit owners.
She received her Bachelor degree in Urban Studies from the University of Pennsylvania and holds a Master’s degree in Urban Planning from the Robert F. Wagner School of Public Service at New York University.
Ms. Visnauskas lives in Manhattan with her husband and three children.