Construction Services

Financial Services

Investment in tax credits, obtaining permits, securing financing and completing and submitting paperwork on time can be overwhelming. Rest assured, AEP’s experienced financial specialists will provide comprehensive assistance from acquisition to stabilization.
  • Evaluation and preparation of applications with state and local agencies for HOME and Community Development Block Grants (CDBG)
  • Evaluation of Section 42 opportunities
  • Obtaining construction and permanent loan financing
  • General consulting with non-profit and for-profit sponsors

The following teams will assist you in every phase of the financial process. Click on a link to learn more.

Transactions

After the approved properties are bundled together in a fund to present to investors, our Transactions Group is able to offer a variety of investment structures, allowing the investor to easily identify an option that satisfies the unique investment requirements of that particular institution.
    ▼ Dan Torgerson, Director of Investor Relations

    Daniel L. Torgerson     ▲ Up
    Director of Investor Relations
    Affordable Equity Partners, Inc.

    dtorgerson@aepartners.com

    Daniel L. Torgerson, Director of Investor Relations, joined Affordable Equity Partners, Inc. (AEP) in June of 2004. Dan works with all types of investors, specializing in insurance company clientele. In his position, he has helped clients achieve state tax savings that exceeds $300 million dollars.

    Before joining the AEP sales and closing team, Dan was part of Price WaterhouseCoopers LLP’s Insurance Tax Consulting Group where he lead, or was directly involved with, a team that helped insurance clients save in excess of $35 million dollars on their state and local taxes. In addition, from 2000 through 2004, he helped author the National Association of Independent Insurers’ State Tax Guide, along with reviewing and editing the State Taxation section of the Insurance Accounting and Systems Association’s (“IASA”) Property and Casualty Textbook. He has practiced in the multi-state tax area for over eighteen years and has been a guest speaker at numerous events covering a variety of topics concerning tax, accounting, investment and regulatory issues for the insurance industry and others.

    Dan currently sits on two committees that organize the IASA’s annual conference and participates regularly in such organizations as the National Association of Insurance Commissioners, the Property Casualty Insurers Association of American, the American Council of Life Insurers, and the Associated Industries of Missouri. He also had a distinguished career in the United States Army, as a structures specialist. He was awarded numerous honors including: two Army Achievement Medals, two Army Commendation Medals, the Good Conduct Medal, and several Army Certificates of Achievement.

    Dan graduated from the Carlson School of Management at the University of Minnesota, Minneapolis, with a Masters of Business Taxation degree. Dan played hockey in college and now coaches. He also enjoys golfing, is an avid football fan, and is active in his church.

    ▼ Christie Haynes, Transaction Analyst

    Christie Haynes     ▲ Up
    Transaction Analyst
    Affordable Equity Partners, Inc.

    chaynes@aepartners.com

    Christie Haynes, Transaction Analyst for Affordable Equity Partners, Inc. (AEP), has been with the company for 10 years. She is responsible for reviewing due diligence documentation for potential investment opportunities, updating the 15-year financial forecast for developments, preparing and updating benefit schedules and financial forecast for potential investors, and compiling due diligence reports to investors. She is also an integral part of managing investor relationships.

    Christie graduated from Columbia College with a degree in Accounting. Following graduation, she worked at a local Columbia CPA firm. During her time with Affordable Equity Partners, Christie has grown professionally through attending IPED conferences and through learning from upper management and her peers. She has also been involved in an internal leadership seminar which helped her grow as a person, employee, manager and co-worker. She believes that AEP is built on relationships and teamwork, and is proud to work closely with every internal AEP department to ensure seamless transactions.

    Christie lives in Columbia. She enjoys sporting events, reading and traveling.


Acquisitions/Underwriting

The Acquisition Team is typically the initial point of contact for a new developer. Working through the AEP’s Underwriting Department, the Acquisition Team negotiates basic terms and conditions of a new investment with our development partners. The Acquisition Team then works closely with AEP’s Transactions Group and maintains communication with the developer to bring the transaction to completion. The acquisition area is also actively involved in providing assistance to developers completing and submitting new applications for tax credits to the respective state housing agencies.
    ▼ Brian Kimes, Director of Acquisitions/Underwriting

    Brian H. Kimes     ▲ Up
    Director of Acquisitions/Underwriting
    Affordable Equity Partners, Inc.

    bkimes@aepartners.com

    Brian H. Kimes, Director of Acquisition/Underwriting for Affordable Equity Partners, Inc. (AEP), helps originate investment opportunities and manages key developer and investor relationships that AEP maintains throughout the nation. His responsibilities include the analysis of acquisition pricing, pre-acquisition due diligence and underwriting. Brian is also engaged in the execution of lower-tier investment closings, as well as structuring upper tier investment funds, both from a modeling and from asset allocation prospective.

    Brian has been with AEP since 2000. He previously worked for Wells Fargo Bank and was involved in loan origination. Currently, Brian serves on the Board of the Georgia Affordable Housing Coalition, and is a member of the Missouri Historic Preservation Society, the Texas Affiliation of Affordable Housing Providers and the National Council of State Housing Agency.

    Brian has a BSBA in Finance & Real Estate from the University of Missouri. He is active in the community and is active with the United Way, Multiple Sclerosis foundation and is involved with the College of Business at the University of Missouri as member of the Herbert J. Davenport Society.

    ▼ Jim Markel, Acquisitions

    Jim Markel     ▲ Up
    Acquisitions
    Affordable Equity Partners, Inc.

    jmarkel@aepartners.com

    Jim Markel, Acquisitions specialist in Georgia, has been part of Affordable Equity Partners Inc., for over four years. Starting as a consultant and then joining the company full time, Jim has been instrumental in the development of communities in the state of Georgia and securing third party developer relationships for tax credit syndication. Often a liaison between developers and AEP, Jim assists development partners in Georgia through the lifecycle of their development projects. He works diligently to help identify potential sites, assemble viable tax credit applications and, ultimately, helps acquire the credits awarded for the development.

    Jim is a graduate of the University of Southern Mississippi with a degree in Geography. Before joining Affordable Equity partners, he gained experience in the development industry through his work as an Urban Planning Consultant and City Planner. Jim currently lives outside the Atlanta area.
    ▼ Jacob Engle, Underwriter

    Jacob Engle     ▲ Up
    Underwriter
    Affordable Equity Partners, Inc.

    jengle@aepartners.com

    Jacob Engle, Underwriter, joined JES Holdings, LLC in 2003 after graduating from the University of Missouri-Columbia College of Business with a degree in Finance and Economics. He and the other members of the team are responsible for underwriting new investment opportunities for AEP , creating and analyzing financial pro formas for proposed real estate investments, real estate examination, analysis of market conditions, and reviewing initial due diligence. As a senior underwriter Jacob is responsible for preparing investment summaries for new investment opportunities. Jacob also works with JES Holdings’ internal development company, JES Development, Inc. and various development partners throughout the tax credit application process.

    Jacob currently lives in Columbia, Missouri. Outside of work he enjoys Mizzou sporting events and traveling.

    ▼ Leon Krieg, Underwriter

    Leon Krieg     ▲ Up
    Underwriter
    Affordable Equity Partners, Inc.

    lkrieg@aepartners.com

    Leon Krieg, Underwriter for Affordable Equity Partners, joined the company six years ago. He is currently performs analysis of financial proformas for proposed AEP investments, assisting in completion of applications for new properties, requesting and review of all third party plan and specification reviews as well as monthly property inspection reports, and completing investment packages for new investments. He is also responsible for monitoring political issues with regard to the Tax Credit program, maintaining files on all public articles relating to Tax Credits, and maintaining a working relationship with the Missouri Housing Development Commission for JES Holdings, LLC

    Leon graduated from Oklahoma State University with a Bachelor of Science degree in Secondary Education. Before joining AEP, he spent five years as an LIHTC Asset Manager with MMA Financial in Clearwater, Florida. Prior to MMA, he spent approximately 20 years working in commercial and residential lending with various commercial banks in Oklahoma, Texas and Florida.

    ▼ Sean Garrison, Underwriter

    Sean Garrison     ▲ Up
    Underwriter
    Affordable Equity Partners, Inc.

    sgarrison@aepartners.com

    Sean Garrison, Underwriter, joined Affordable Equity Partners, Inc, (AEP) in 2005. A graduate of the College of Business at the University of Missouri – Columbia with a degree in Finance and Banking and Real Estate, Sean has been closely involved in analyzing potential investments and recommending financial structures to best fit overall clientele needs. As an underwriter, he is responsible for researching potential loan sources, performing market studies, and coordinating with developers, general contractors, and property managers on estimates to create financial projections for prospective projects. In addition, he is responsible for completing applications for tax credit developments for submission to state agencies.

    While working with AEP, Sean has had the opportunity to grow professionally in many aspects of real estate development. He is a licensed Real Estate Agent, as well as a Tax Credit Certified Professional. He has gained extensive expertise in residential construction, tax credit industry development, leadership models through the JES Leadership Development Series, and Green Sustainable construction as a part of JES’ commitment to continued education. Sean currently lives in Clayton, Missouri and enjoys running, traveling, architecture, Mizzou Football, and Cardinal Baseball.

Accounting

The AEP Accounting Team operates as a true partner throughout the investment and development process. Tax credit fund management includes the preparation of tax credit fund financial statements, tax credit fund reserve account management, the preparation of annual tax returns and investor credit schedules, and the preparation of annual audited financial statements.

Additional services are provided via Investor Reporting (which coincides with a few asset management reporting requirements) based on quarterly, semi-annual and annual financial statement reporting, as well as annual tax credit reporting. Investor relations are maintained through exceptional communication with investors regarding reporting needs and tax credit fund approvals.

Governmental Entity Relations are among AEP Accounting Department’s core competencies with a commitment to annual visits to governmental agencies to which our investors report. These visits are vital to obtain the appropriate documentation for investors to help governmental agencies streamline and accurately process investor information.

From the development standpoint, year-end information including return and audit property reviews and tax credit reviews are key services performed. Additionally, a partnership with AEP guarantees dedicated accountants who make annual visits to developer accountants in order to deliver important equity and credit information regarding property investments. This service is extended to developers with real estate tax issues, and tax abatements remain priorities for each partnership AEP supports.

Here are a few key members on our Accounting Team:
    ▼ Dana Ehler, Controller     

    Dana Lynn Ehler     ▲ Up
    Controller
    Affordable Equity Partners, Inc.

    dehler@aepartners.com

    Dana L. Ehler, Controller, has been with Affordable Equity Partners, Inc. (AEP) for five years. In her position, she supervises AEP’s accounting department, monitors the completion of the AEP fund returns/audits, monthly financial statements and projections, and is involved with the analysis of final fund closings and investor financial reporting. She also works directly with governmental agencies both in Missouri and Georgia on annual investor reporting.

    Working with AEP, Dana has gained a sound understanding and expertise with regards to the process of tax credit investments and how they benefit corporate investors and the need for affordable housing facilities. She asserts that JES has set the standard of excellence in the world of affordable housing nationwide.

    Previously, Dana worked as a staff accountant for a local CPA firm in Columbia, Missouri. She has a Bachelor of Science in Business Administration with emphasis in Accounting from Columbia College.

    An active philanthropist, Dana is currently serving as Treasurer of WIN (Women’s Intersport Network) for Columbia. She has also served on the United Way and Rootin’ Tootin’ Chili Cook-off Committees at JES for the last five years. In addition, she coordinates the JES bowling teams for the Bowl for Kids’ Sake event which benefits the Big Brothers Big Sisters Central Chapter.

    ▼ Robert Muchow, Accountant     

    Robert Muchow     ▲ Up
    Accountant
    Affordable Equity Partners, Inc.

    rmuchow@aepartners.com

    Robert Muchow, staff accountant for Affordable Equity Partners, Inc., has been with AEP for 8 years. Robert holds many responsibilities including preparation and review of financial statements and tax returns for approximately twenty four Federal Funds and multiple smaller funds, the review and approval of over three hundred property tax returns and audits with the accounting team, the filing of all IRS tax returns, and the handling of all JES real estate tax appeals, assessment, and payment of taxes.

    Robert graduated cum laude from Columbia College with a BS in Business Administration, emphasis in accounting. He also earned his MBA from Columbia College. Before joining Affordable Equity Partners, Robert was responsible for the operations and financial success of over 25 employees with Domino’s Pizza. Robert is an active volunteer with Forum Christian Church in Columbia, Missouri. Through this organization, he spends a great deal of time volunteering with the local food bank, Salvation Army, and Loaves and Fishes. He also volunteers as a referee with a local youth basketball league. He enjoys sporting events, fishing, and yard work.

    ▼ Tiffany Young, Accountant     

    Tiffany Young     ▲ Up
    Accountant
    Affordable Equity Partners, Inc.

    tyoung@aepartners.com

    Tiffany Young, staff accountant for Affordable Equity Partners, Inc. (AEP), joined the company as a full time team member in December, 2009. Prior to her full time position, Tiffany worked with JES Holdings, LLC as an accounting intern beginning in April 2009 while finishing her Bachelor of Science in Accounting at Columbia College.

    Tiffany holds many responsibilities including preparation and review of financial statements and tax returns for several Federal Funds and multiple smaller funds, the review and approval of over three hundred property tax returns and audits with the accounting team, and the filing of all IRS tax returns. She is also responsible for the completion of investor reporting.

    An active philanthropist, Tiffany is very involved with company sponsored community outreach events. She participates in United Way outreach events as well as volunteers with the Boys and Girls Club. Outside of work, she enjoys Mizzou football and basketball, and golfing.


Asset Management

Reporting is one of the most critical requirements for maintaining tax credit eligibility. Investors who rely on AEP’s Asset Management can rest assured that their reporting requirements are met accurately, professionally and on time. AEP’s Asset Management team automatically notifies the investor of the amount of tax credits that can be taken against tax liabilities each year. Click for a sample K-1 report.

Additionally, each of the property management companies maintains monthly and quarterly reports that enable investors to keep up-to-date on resident files and track lease-up schedules. These reports are filed online and are accessible to investors and lenders on AEP’s secure Internet Reporting Services site. With the ability to monitor their properties via this password protected website, investors can be confident that their tax credits are working for them.

Here are a few key members on our Asset Management Team:
    ▼ Melissa Clayton, Director of Asset Management     

    Melissa Clayton, HCCP, ARM, CAM, CPM      ▲ Up
    Director of Asset Management
    Affordable Equity Partners, Inc.

    mclayton@aepartners.com

    Melissa Clayton, Director of Asset Management, joined Affordable Equity Partners, Inc. (AEP) in May of 2008. As the Director of Asset Management, she is a key player in all facets of the development from underwriting, construction and lease up, to the end of the compliance period. Melissa has gained invaluable experience from working with her colleagues, developers, state agencies and investors.

    Melissa believes that AEP’s values and principles are what set it apart from other tax credit syndication companies. She is very proud to work in a company that gives back to the community and enhances residents’ quality of life in every community of which AEP is a part. . She feels that AEP invests in properties of high quality and the asset management group closely monitors each of those properties to ensure the JES Holdings’ Mission Statement.

    Melissa has twenty years of experience in the multi-family real estate industry. Prior to working at JES, she was Vice President in the Asset Management Group at Centerline Capital in New York, New York. Centerline’s Asset Management Department was responsible for 43 multi-investor tax credit funds throughout the US and Puerto Rico. She was responsible for 110 LIHTC and Market Rate properties, totaling approximately 11,000 units. Prior to Asset Management, she was a Regional Vice President of Operations for Apartment Investment And Management Company (AIMCO), a real estate and investment trust and one of the largest owners and operators of apartment communities in the United States headquartered in Denver, Colorado. She oversaw a portfolio of 5,000 market rate units in Georgia and Tennessee.

    Melissa is active in the community and is involved in the Boys and Girls Club and Atlanta Community Food Bank. She currently resides in Atlanta, Georgia. When she’s not working, she enjoys spending time with her family, reading, and traveling.

    ▼ Matt Covington, Asset Manager     

    Matt Covington     ▲ Up
    Asset Manager
    Affordable Equity Partners, Inc.

    mcovington@aepartners.com

    Matt Covington, Asset Manager, joined Affordable Equity Partners, Inc. (AEP) in February of 2009. As part of the asset management team, he monitors the physical and financial health of a portfolio of properties from construction to the end of the compliance period in order to mitigate risk and protect tax credit investments. His portfolio currently consists of 2,349 units. Matt’s involvement with development has given him unparalleled experience in the housing industry. From attending on-site construction pay application meetings to presenting investor reports to JP Morgan, Matt has a sharp perspective on the business and the real estate industry as a whole

    Matt has previous acquisition experience with Evertt & Henry LLC in St. Louis, Missouri. He was involved with the underwriting of multi-family properties while focusing on value-add opportunities in strong markets. Matt has a BS in Business Administration, with an emphasis in Real Estate, from the University of Missouri – Columbia.

    ▼ Andy Burks, Asset Manager     

    Andrew Burks     ▲ Up
    Asset Manager
    Affordable Equity Partners, Inc.

    aburks@aepartners.com

    Andy Burks joined Affordable Equity Partners Inc. as a member of the asset management team in September of 2010. Prior to joining Affordable Equity Partners he worked as a licensed mortgage loan officer in Saint Louis, Missouri. Andy graduated in December 2008 from the University of Missouri, Columbia where he majored in Finance, Banking, and Real Estate. While a student, he was a member of Rho Epsilon, a professional real estate organization through the university’s business school, and a member of Beta Theta Pi Fraternity. He is currently a member of the Tiger Quarterback Club, a booster club for the universities football team.

    When Andy is not working, he enjoys attending sporting events, traveling, and golfing.

    ▼ Ellen Vossbrink, Assset Manager     

    Ellen Vossbrink     ▲ Up
    Asset Manager
    Affordable Equity Partners, Inc.

    evossbrink@aepartners.com

    Ellen Vossbrink has worked for Affordable Equity Partners since June of 2010. She began her career as a member of the Leasing Team and transitioned to the Asset Management team in July 2011. Prior to joining the Affordable Equity Partners team full time in 2010, she began work as an intern in 2009 with Fairway Management Inc., while a student at the University of Missouri, Columbia. Ellen double majored in Finance and Real Estate. During her time spent with the university, Ellen was the President of Rho Epsilon, a professional real estate organization through the university's business school, and a member of Delta Sigma Pi Professional Fraternity.

    While an intern with Fairway Management, Inc., Ellen was instrumental in the stabilization of occupancy at North Hampton Estates in Columbia, Missouri. She and the other team members at North Hamptons brought the occupancy up from the mid 80% range to 100% occupied in a matter of weeks through their marketing and leasing efforts. Above and beyond just leasing, Ellen was also responsible for completing new resident files, monitoring recertification paperwork, resident events and interaction, and other daily office responsibilities.

    Ellen is an active contributor to the United Way and the Adopt a Highway Organization. While she is not working, Ellen enjoys spending time with her family and friends, traveling, and running.


Leasing Team

JES Holdings' and AEP’s commitment to best serve its clients and communities in the affordable housing industry has led to the formation of the Leasing Team. The role of the Leasing Team is to wrap around the management company and assist with the marketing and advertising of new properties within both the Fairway Management portfolio and the portfolio's of third party clients. Beginning with initial construction, members of the Leasing Team plan and implement a marketing and advertising campaign to help generate future resident interest within a particular community. Leasing agents will formulate and execute a comprehensive marketing plan. In addition, they assist property managers covering leasing center office hours and provide prospective residents tours, paying particular attention to lead follow-up.

The end goal of the Leasing Team is to have the community completely leased with residents ready for immediate occupancy at the time the building is turned over to the management company by construction. AEP plans to extend its training program to include a specialized manual for future members of the Leasing Team. This latest addition to Pathways to Success will include information on marketing in the affordable housing industry, direction for advertising campaigns, guidelines for developing a marketing plan, suggestions for new marketing strategies, and timelines to ensure successful planning and organization.

Here are a few key members on our Leasing Team:

    ▼ Heather Loos, Leasing Coordinator     

    Heather Loos      ▲ Up
    Leasing Coordinator
    Affordable Equity Partners, Inc.

    hloos@aepartners.com

    Heather Loos joined Affordable Equity Partners, Inc. in January 2011 as the Leasing Coordinator. Heather has acquired years of management experience through her extensive career with Disney Resorts and Towers Watson. Throughout her 18 years with Disney Resorts, Heather managed a large staff while supervising various customer service focused departments such as Group Reservations, Concierge Services, and Front Desk Operations. Most recently, Heather worked as an Office Services Manager for Towers Watson, a professional services firm that helps organizations improve performance through effective people, risk and financial management.

    As the Leasing Coordinator, Heather directs and manages members of the AEP Leasing Team. She is responsible for communicating directly with third party ownership and executive level management to regularly discuss the goals and progressions of projects. Heather and her team also develop and implement strategic marketing plans, coordinate community outreach efforts and in conjunction with the marketing department, create advertising and media pieces utilizing all media outlets.

    Heather received a Bachelor of Science in Business and Hotel Management from Eastern Illinois University. In her personal time, Heather enjoys running, playing tennis and skiing


    ▼ Casey Murphy, Leasing Specialist     

    Casey Murphy     ▲ Up
    Leasing Specialist
    Affordable Equity Partners, Inc.

    cmurphy@aepartners.com

    Casey Murphy, a member of the Leasing Team, joined Affordable Equity Partners, Inc. (AEP) full time in 2009. Before joining AEP as a member of the specialized leasing team, Casey worked as an intern in both human resources and marketing for JES Holdings L.C. for over a year and a half.

    As a member of the leasing team, Casey is responsible for helping to insure the lease up success for both internal projects and third party development projects in Missouri and Georgia. With a background in graphic design and knowledge of graphic design programs such as Adobe Photoshop, Indesign, and Lightroom, Casey is responsible for producing a monthly newsletter that is sent out to several senior communities within the Fairway Management, Inc. portfolio and assists the marketing department on special projects. She was also very instrumental in the design and execution of the recently launched Fairway Management, Inc. website.

    Casey graduated from Lindenwood University in Saint Louis, Missouri with a degree in Mass Communications and Multi Media Productions. When Casey is not working, she enjoys photography, spending time with friends and family, and movies.

    ▼ Terence Walker, Leasing Specialist     

    Terence Walker     ▲ Up
    Leasing Specialist
    Affordable Equity Partners, Inc.

    twalker@aepartners.com

    Terence Walker joined Affordable Equity Partners, Inc. (AEP) in January 2010 as a member of the lease up team. In his position, Terence is responsible for the completion of lease up efforts for internal projects and third party development projects. He develops marketing plans, coordinates community outreach efforts, and in conjunction with the marketing department creates advertising/media pieces utilizing all media outlets.

    Prior to working with AEP, Terence was a multi site manager with Grey Star Management Company where he was responsible for managing and leasing conventional projects in Atlanta. Following his time spent with Grey Star, Terance went on to work for the Department of Community Affairs (DCA) as a compliance officer. In his position with DCA, he was responsible for the auditing of communities throughout the state of Georgia.

    Terence attended Georgia State University where he earned a degree in Public Health with a minor in Business Marketing. Terence enjoys white water rafting and sporting events.

    ▼ Eric Stout, Leasing Specialist     

    Eric Stout     ▲ Up
    Leasing Specialist
    Affordable Equity Partners, Inc.

    lconsultant@aepartners.com

    Eric Stout joined Affordable Equity Partners, Inc. as a member of the leasing team in September of 2010. A recent graduate from the University of Missouri-Columbia, Eric received his Bachelor of Arts degree in Interdisciplinary Studies. Eric was the President of Delta Sigma Phi, a member of Habitat for Humanity and an active contributor to the Special Olympics.

    While he is not working, Eric enjoys spending time with his family and friends, mastering watersports of any kind and supporting Mizzou Athletics.



    ▼ Rachel Bigge, Leasing Specialist     

    Rachel Bigge     ▲ Up
    Leasing Specialist
    Affordable Equity Partners, Inc.

    rbigge@aepartners.com

    Rachel Bigge joined Affordable Equity Partners, Inc. as a Leasing Specialist in January of 2011. In her position, Rachel is responsible for creating and implementing marketing plans to complete lease up efforts for single family, senior and multi-family communities in Missouri and Georgia. A graduate of the University of Missouri, Rachel received a Bachelor of Science in Hotel Restaurant Management with a minor in Business Marketing.

    While working in Carrolton, Georgia, she has become an active participant in Meals on Wheels and planning events for seniors in the community. When Rachel is not working, she enjoys playing sports and attending sporting events.