Riechman to Head Centerline’s Affordable Housing Group
- Jul 21, 2011
New York–Michael Riechman will join Centerline Capital Group on September 6 as the firm’s new head of Affordable Housing Equity. Riechman will be part of the executive committee and, based out of Charlotte, N.C., will be responsible for developing Centerline’s affordable equity business nationally.
Affordable Housing Equity remains one of Centerline’s four core business units, along with Asset Management, Affordable Housing Debt and Mortgage Banking. The Equity unit has raised more than $10 billion in equity from institutional and individual investors and invested that capital in more than 1,300 affordable multifamily assets in 136 funds. Riechman will lead a national team of 25 specialists, a platform that consists of acquisitions, dispositions, underwriting, and fund originations.
Before joining Centerline, Riechman spent eight years at RBC Capital Markets in Charlotte, N.C., most recently as managing director responsible for tax credit investments. At RBC Capital he was a member of the executive management team, served on the investment committee and led the tax credit investment. Prior to RBC Capital, Riechman held several key positions in the American Communities Fund at Fannie Mae in Washington, D.C. He also served with the Reznick Group of Bethesda, Md., and the Miller Valentine Group in Dayton, Ohio.