MICHEL ASSOCIATES - Key Persons
Bruce Kiernan has over 21 years of experience in affordable housing, finance and consulting. As the chief credit officer, he coordinates investment policies and procedures and serves as the chairman of the Investment Committee.
Before joining Michel Associates, Mr. Kiernan worked for another national real estate syndication firm, where his responsibilities included the origination, underwriting and acquisition of affordable housing equity investments; and leading the development, structuring and marketing of tax credit funds, as well as institutional investor relations. He has also worked for The Boston Consulting Group, a leading international management consulting firm; and a strategy and technology consulting start-up company with a focus on the financial services industry, which was acquired by IBM Global Services.
Mr. Kiernan has an MBA degree from The Tuck School at Dartmouth College and a Bachelor of Science and Master of City Planning degrees from the Massachusetts Institute of Technology.
Job Titles:
- Asset Management
- Managing Director / Asset Management
Mr. Porter has worked at Michel Associates since 1998, first as an asset manager and as Managing Director-Asset Management since 2006. He currently oversees the department's monitoring and procedures of the entire portfolio including tax return results, financial performance, construction and lease-up, equity installments, site visits, the database, disposition evaluations and investor property reporting.
Previously, Mr. Porter worked as an asset manager at a large national tax credit syndication firm and the Massachusetts Housing Finance Agency and as a multifamily loan underwriter for a major investment banking firm.
Elaine Sheehy has over 35 years of experience in the affordable housing industry. At Michel Associates, she is responsible for all aspects of financial, operating, tax, and due diligence analyses, as well as Operating Partnership and Investment Partnership accounting issues. She has been involved in the analysis, underwriting, and structuring of over 300 affordable housing multi-family investments representing over $1 billion of capitalization.
Additionally, she has analyzed and structured approximately $250 million of conventional multi-family investments. Prior to joining Michel Associates in 1991, Ms. Sheehy was Vice President of Financial Analysis for a national affordable housing syndication firm.
Job Titles:
- Chief Operating Officer / Michel Associates, Ltd.
He is currently responsible for the management of the day-to-day operations of the company.Mr. Monteiro's areas of expertise are investor communications, partnership accounting, partnership asset management, and disposition of partnership assets. Prior to joining Michel Associates in 1991, Mr. Monteiro was a Portfolio Manager/Investor Relations Specialist at a national affordable housing syndication firm where he was responsible for servicing 25 Limited Partnerships with over 1,000 investors.
Mr. Monteiro is a 1979 graduate of Salem State College and received a Masters of Business Administration from Suffolk University in 1991.
Job Titles:
- Chief Executive Officer
- Investor
- Chief Executive Officer / Michel Associates, Ltd.
Kenneth Michel has over 39 years of direct experience in the affordable housing industry with an emphasis on federal and state housing finance programs. He began his career in 1977 at Greater Boston Development, Inc. (now Boston Capital Partners), in their Syndication Department specializing in the structuring, monitoring, and equity financing of Rural Development (RD) Section 515 Rural Rental Housing Program (formerly FmHA Section 515) low-income properties. In 1981, he joined The Langelier Company, Inc., where he was head of the Acquisitions Department, focusing on the acquisition of affordable housing properties featuring HUD or state agency financing and HUD Section 8 rental subsidies. In 1986, he founded Michel Associates, Ltd., which has successfully sponsored a series of Tax Credit investment partnerships for high net-worth individuals, financial institutions, and corporations. Mr. Michel has successfully underwritten and syndicated apartment complexes ranging in size from 6 to 694 units with a total capitalization in excess of $1.5 billion.
Mr. Michel has been involved in the equity financing of over 300 real estate limited partnerships involving new construction, non-historic and historic rehabilitations of government assisted affordable housing properties. He has acted as sponsor, general partner, or special limited partner in 53 such partnerships since 1982.
Mr. Michel currently holds an ownership interest as a limited or general partner in over 12,000 affordable housing apartment units in various locations throughout the United States. He has never experienced any event of bankruptcy, receivership, or assignment for the benefit of creditors.
Mr. Michel served as a Director of the Council for Affordable and Rural Housing (CARH), a national advocacy group based in Washington, DC representing the interest of developers, owners and managers of rural housing. He also served as Chairman of the Stonehill College Annual Fund, and the Stonehill College Board of Fellows, and is a member of the Stonehill Basketball Hall of Fame, and a former Corporator of Danversbank.
Peter Talbot has 41 years of experience in the underwriting, acquisition, and syndication of affordable housing properties beginning in 1975. He is responsible for originating affordable housing investments and supervising the origination activity of other associates. He has personally originated and closed over 300 affordable housing multi-family investments, which were financed under HUD, RD, and state agency programs as well as conventionally. These investments represent over 12,000 apartment units with a total value in excess of $995 million.
Prior to joining Michel Associates in 1991, Mr. Talbot worked for a national affordable housing syndication firm for 12 years as a Vice President responsible for acquisitions.
Mr. Talbot is a past Regional Director of the Harvard Alumni Association. He also is an active Member and a past Director of the Council for Affordable and Rural Housing (CARH), a national advocacy group based in Washington, DC representing the interest of developers, owners and managers of rural housing.
Job Titles:
- Controller
- Accounting & Finance