Arbor Appoints Director, Promotes Production Pro
Jay Porterfield has been appointed director of Arbor Commercial Mortgage’s Dallas office. He will originate Fannie Mae and Federal Housing Administration (FHA) transactions throughout the Southwest. He previously served as senior vice president at Countrywide Commercial Real Estate at the firm’s Plano, Texas, office.
Additionally, Joseph Donovan has been promoted to senior vice president of production management for Arbor. He previously served as vice president of production management.
Donovan will continue to oversee the day-to-day operations of the firm’s Fannie Mae, FHA/Ginnie Mae, and commercial mortgage-backed securities production units. Additionally, he will be responsible for ensuring operational conformity with all aspects of investor compliance
Red Capital CEO Announces Retirement
William E. Roberts, CEO and chairman of Red Capital Group, a market- rate and affordable multifamily lender, has announced his retirement from the Columbus, Ohio-based company. Senior executives Scott M. Laufenberg and Brian T. Kelleher will share co-chairman and CEO responsibilities. Laufenberg was formerly president and chief operating officer of Red Capital Markets, Inc., the company’s broker/dealer entity. Kelleher was previously senior managing director and chief operating officer of the firm.
Beacon Realty Announces Promotion
Devin Huber has been promoted to senior vice president with Beacon Realty Capital. He formerly served as a vice president with the Chicago-based real estate financial services firm
Portfolio Manager Promoted to VP
Jim Wiard has been promoted to vice president of property management for Portland, Ore.-based Guardian Management. He most recently served as a senior portfolio manager for the firm. In 2007, Wiard spearheaded Guardian’s non-smoking initiative across its portfolio.