News - 2007
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2007-006
Fannie Mae’s John Powell Joins RED CAPITAL
Former Multifamily Executive Will Launch New Chicago Office
John K. Powell
Senior Managing Director
Red Mortgage Capital, Inc.
Chicago, Illinois
Columbus, OH, March 30, 2007—Comprehensive capital provider RED CAPITAL GROUP announced today that John K. Powell, Jr. has joined its mortgage banking entity, Red Mortgage Capital, Inc., as a Senior Managing Director and member of RED's Executive Committee. Since its founding in September of 2000, Red Mortgage Capital, Inc. has been ranked as one of the nation’s top Fannie Mae DUS® multifamily, Fannie Mae seniors housing, FHA multifamily and FHA healthcare lenders. In addition, Red Mortgage Capital is active in customized portfolio lending and CMBS/capital markets executions.
Mr. Powell has over 30 years of experience in commercial real estate, including nearly a decade with Fannie Mae where he was responsible for the Multifamily Group’s conventional flow business including seniors ensuring the underwriting quality and credit compliance of all Fannie Mae Housing and Community Development Division assets including Multifamily.
Prior to joining Fannie Mae in 1998, Mr. Powell spent 13 years with The Balcor Company, where he served as a Senior Vice President with responsibility for operation of the firm’s public and private limited partnerships. Before joining Balcor, Mr. Powell spent nearly a decade with real estate-focused financial institutions including First National Bank of Chicago and Wells Fargo Realty Advisors.
Mr. Powell was graduated from Lafayette College and subsequently graduated from the University of Virginia with a Masters degree in Urban and Regional Planning. He has been an active member of the Urban Land Institute, serving on both its Seniors Housing Council and the Chicago District Council Advisory Board. He is a Member of the Executive Committee of the American Seniors Housing Association and previously served as a Member of the Board of the Community Investment Corporation and the National Investment Center.
William E. Roberts, Chairman and CEO of RED CAPITAL GROUP said, "We are extremely pleased and very excited to announce that John Powell is joining us in Chicago. John is very highly regarded for both his technical competence and personal integrity by all who have had the good fortune to have worked with him. We are confident that he will enhance our relationships with and our level of service to our major customers, open doors for relationships with new institutional scale owners and developers, and help RED grow its already excellent relationship with Fannie Mae. In addition, with John’s guidance and direction we will expect to build a very significant and highly effective presence in the Chicago region and all of the upper Midwest."
David L. Goodman, Chairman and CEO of Red Mortgage Capital, Inc., added, "In my 30+ years in the real estate finance industry, I have never met a person who better understands servicing the customer."
