CPN 2008 GreenBook

Giants MMA Financial Inc. M MA Financial Inc., a division of Municipal Mortgage and Equity L.L.C., or MuniMae, originated $1.7 billion worth of debt and equity investments in affordable housing projects during 2007. One of the nation’s leading sponsors of tax-credit equity investments in affordable housing projects, the company sponsored $813 million worth of such investments during 2007. It managed 230,004 units valued at more than $20 billion at the end of 2007. Last year, MMA Financial became a top lender for Freddie Mac as a Delegated Underwriter for affordable housing financings. It is one of only seven correspondent lenders approved to participate in Freddie Mac’s initiative, which was launched in September 2004. This designation enables MMA Financial to offer its clients expedited processing and increased flexibility when underwriting mortgages secured by affordable housing properties with low-income-housing tax credits. MMA Realty Capital provides financing and real estate investment management services for market-rate multi-family housing, student housing and seniors housing, originating investments for both institutional investors and its own account. In 2007, it generated gross loan production of $2.3 billion for commercial real estate. MuniMae’s International Housing Solutions affiliate, which takes affordable housing solutions overseas—particularly to South Africa, the United Kingdom and Jordan—has closed $95 million in equity commitments and plans to expand into additional markets. MMA Renewable Ventures MICHAEL FALCONE finances, owns and operates renewPresident & CEO MuniMae L.L.C. able-energy and energy-efficiency projects. In 2007, it financed $234 million worth of solar projects and expanded its 2006 solar power-purchase-agreement-providers portfolio by 500 percent. Last year, it also brought into operation North America’s largest solar power photovoltaic system at Nellis Air Force Base in Clark County, Nev. Morgan Stanley Real Estate M organ Stanley Real Estate operates through three distinct yet globally integrated businesses: real estate investment banking, real estate investing and real estate lending. The real estate investment banking group provides expertise in complex strategic or financing transactions, which include public and private debt; equity, underwriting, merger, acquisition and restructuring services; recapitalization advisory work; asset- and portfolio-sale advisory work; and JOHN CARRAFIELL private placements. Global Co-Head As a global real estate invest- Morgan Stanley Real Estate ment manager, Morgan Stanley provides products and strategies that encompass core- and enhanced-investment objectives and cover investment opportunities in the Americas, Europe and Asia. Products include open- and closed-end commingled funds, mutual funds and separate accounts. As a direct lender, Morgan Stanley provides expedient and attractively priced fixed- and floating-rate financings on a range of stabilized commercial property types. It has offered $211 billion in CMBS through the capital markets since 1997, including $45 billion in 2007. In 2007, Thomson Financial ranked it first in global real estate merger-and-acquisition advisory and “Commercial Mortgage Alert” named it first in CMBS underwriting. It is one of the largest real estate investors globally, managing $99 billion in real estate assets. Its 2007 acquisitions totaled more than $52 billion and dispositions reached almost $14 billion. SONNY KALSI Morgan Stanley Real Estate is Global Co-Head involved in several development Morgan Stanley Real Estate projects that focus on green principles, including Gale International’s Songdo International Business District in South Korea, the Dowling Co.’s Makena Resort in Maui and the award-winning Woodlands in Woodlands, Texas. The 2008 Multi-Family Greenbook Commercial Property News 13

Table of Contents Feed for the Digital Edition of CPN 2008 GreenBook

CPN 2008 Greenbook Table of Contents Industry Update Green Update Giants Owners, Managers & Developers REITs Finance Firms Seniors Housing Providers Service Firms Software Providers Activity Index Alphabetical Master Listings

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