Philadelphia, PA – October 26, 2020 – Berkadia announced today the continued investment in its Tax Credit Syndication team with the addition of Marge Novak as SVP and Head of Capital Markets.
“We’re excited to add such an experienced professional to our team,” said David Leopold, SVP and Head of Berkadia Affordable. “The addition will be invaluable for us in the years ahead as we continue to enhance our platform with the best technical experts in the affordable industry.”
Novak brings over 25 years of LIHTC experience to Berkadia, with specific expertise raising capital, recruiting new investors, managing investor relationships and coordinating overall capital raising efforts with internal staff and external partners. She previously served as EVP, Capital Group at Cinnaire where she was responsible for all capital raising efforts and was a member of the Executive Team and Finance Committee. During her 9 years at Cinnaire, Novak led the company in raising $1.8 billion in LIHTC equity, some of the highest levels of capital in the company’s history.
Prior to joining Cinnaire, Novak was the Executive Director of the Ann Arbor Housing Commission. Previously she was Director of LIHTC for Fannie Mae, Vice President of Funds Management for the National Equity Fund, and Director of Tax Credits for the Illinois Housing Development Authority.
“Berkadia Affordable’s overarching goal to continually provide exceptional client service through every investment we make is evidenced by the addition of Novak,” said Leopold. “With her expertise leading our capital raising efforts we are positioned to continue to provide clients with unparalleled industry expertise and strategic advisory services.”