Future of New England Multifamily

Mr. Sykes currently serves on the following Boards; The Natixis Loomis Sayles Funds Board of Trustees, Apartment Investment and Management Company (NYSE:AIV), The Eastern Bank Board of Advisors & Risk Management Committee, The Federal Reserve Bank of Boston External Diversity Advisory Board, Real Estate Executive Council (Former Chairman & Emeritus), The City of Boston’s Civic Design Commission, The Urban Land Institute’s New England Advisory Board and NAIOP Massachusetts Board Management Committee. Previously, Mr. Sykes served on the following Boards: Ares Commercial Real Estate (NYSE: ACRE) Board of Directors & Compensation Committee, The Federal Reserve Bank of Boston Board, 2008-2014 (Chairman 2012-2014, Audit Committee, Business Practices Committee), Capital Crossing Bank Preferred REIT Board of Directors (Acquired by Lehman Brothers Bank), 2004-2009, Bank Boston & Fleet Community Bank Board of Directors 1994-2004, ICON Architects Board of Directors, 2004-2006, Mr. Sykes also served on the Board of Overseers for Beth Israel Hospital, Children’s Hospital, Boston University Medical Center and Brigham & Women’s Hospital Osher Center. Mr. Sykes is Managing Director of Accordia Partners, LLC, a Boston based real estate investment and development company. Accordia executes large scale public-private real estate projects with a goal of financial and socially responsible investing success. Previously, Mr. Sykes was the head of an urban investment, development and redevelopment commercial real estate equity fund for select institutional investors called Urban Strategy America Fund, L.P. The Fund was a true “triple bottom-line fund” focusing on investment returns, economic development and environmental sustainability. Mr. Sykes is responsible for the supervision of the partnership equity placement, the identification of investments and the day-to-day business operations of the USA Fund. Kirk Sykes combines his professional training and hands-on experience in the areas of finance, investment, development, design and construction to create customized responses to the complex issues of urban real estate development. His approach is grounded in the bottom-line driven perspective gained during his tenure as Chairman of The Federal Reserve Bank of Boston and various other for-profit and non-profit board affiliations. Mr. Sykes acts as an Advisor to Basis Investment Group, a commercial real estate debt investment platform, where he provides strategic guidance and input on mezzanine debt and preferred equity investments in connection with construction loans. Mr. Sykes has been a speaker at Harvard University Business School & Kennedy School of Government, University of Pennsylvania Wharton School of Business, MIT Sloan School of Management and Center for Real Estate, Cornell University Real Estate Program and The League of Historical Cities of the World Conferences in Japan, Turkey and Australia. Mr. Sykes attended the Harvard University Business School, Owners and Presidents Management Program, the MIT Center for Real Estate Development Commercial Development Executive Program and the L’Ecole Polytechnique in Paris, France. He earned his Bachelor of Architecture from Cornell University.

Chrystal Kornegay currently serves as Chief Executive Officer of MassHousing which lends over $1 billion annually to produce and preserve affordable rental housing and create homeownership opportunities for low- and moderate-income borrowers. Under Chrystal’s leadership, MassHousing launched a highly successful Down Payment Assistance program; secured over $80 million to expand its Workforce Housing initiative; and developed a nationally recognized program for homeownership production in communities of color. Before joining MassHousing, Chrystal served as the Baker-Polito Administration’s Undersecretary for Housing and Community Development where she successfully advocated to increase state capital dollars for affordable housing by almost 18%; partnered to increase rental subsidies for low income families by 42%; and collaborated to dramatically reduce the number of homeless families in motels. Prior to her work as Undersecretary, Chrystal was President and Chief Executive Officer at Urban Edge, one of New England’s largest community development corporations. She is credited with leading the organization’s financial transformation, resulting in a $3 million increase in the Agency’s net asset position. Chrystal serves on the boards of the Massachusetts Department of Transportation and the Massachusetts Bay Transit Authority, the National Housing Trust and is a member of the Federal Home Loan Bank of Boston’s Advisory Committee. Chrystal holds a Master’s in City Planning from the Massachusetts Institute of Technology and a B.A. from Hunter College.

Bruce A. Percelay is chairman and founder of The Mount Vernon Company, a real estate investment firm considered among the leading apartment landlords in Massachusetts. The company has grown over the past 30 years to include approximately 1,600 apartments, 5 hotels, as well as select commercial and vacation properties. The company received the Community Excellence Award from the Rental Housing Association of the Greater Boston Real Estate Board, the Paragon Award for Industry excellence by the National Apartment Association, Best Landlord in Boston by Boston Magazine and Best Places to Work in Boston by the Boston Business Journal. Percelay created the Allston Green District, an eleven building assemblage which was the largest new construction project in Allston in over half a century. The three centerpiece buildings in the Green District set a new standard for environmentally sensitive living and have won over nine awards for their forward- thinking sustainable design. Percelay began his career in advertising and helped manage the marketing efforts for Parker Brother's Games, Keds Sneakers, and Converse Athletic Shoes. He is also credited with the development of the idea for Sunkist Orange Soda, the most successful new soft drink launch in the history of the industry. Combining his marketing savvy with his real estate experience, Percelay next authored the top selling business book, Packaging Your Home for Profit, published by Little Brown and Company. The success of the book prompted appearances on CNN, Good Morning America and over 50 newspapers and magazines around the country. Percelay pioneered the concept of marketing and staging homes for sale and has used the theories in his book to build The Mount Vernon Company to where it is today. Percelay has recently created a boutique hotel division of The Mount Vernon Company including 21 Broad, rated by Conde Nast as the top new boutique hotel in the world. The hotels are strategically located in resort communities including: Nantucket, Newport, Portsmouth, New Hampshire and Camden, Maine as well as a 200- room hotel in Boston. Extremely active in support of the communities in which he lives, Percelay was the driving force behind the construction of Nantucket's new whaling museum, the most significant new building on the island in the last 100 years and is chairman of the $120 million capital campaign for the new Nantucket hospital. He is also a Presidents Council Board Member of Massachusetts General Hospital. Percelay was the chairman of the Massachusetts chapter of the Make-A-Wish Foundation, helping it to become the most successful in the country, and chairman of Habitat for Humanity in Boston where he launched the largest urban project ever built in America during his tenure. Percelay is the publisher of N Magazine, a publication he co-founded 15 years ago. The magazine is the leading publication of its kind on the island, has won national awards for its quality and boasts the highest income demographic of any seasonal magazine in America In recognition of his significant service to his community, Percelay was the recipient of the Ten Outstanding Leaders award from the Boston Chamber of Commerce, as one of Boston’s top leaders in The Boston Globe’s Leaders of Boston book and received the Outstanding Achievement Award from YouthBuild Boston. Percelay received a special commendation by former Senator John Kerry for his contributions to Boston which appear in the permanent archives of the United States Congressional Record and was recently honored by the Children’s Advocacy Center for his support of children’s issues. Percelay currently serves on the board of the Rappaport Institute at the Kennedy School of Government at Harvard University and is honorary chairman of the Nantucket Cottage Hospital capital campaign. Bruce shares his time between Nantucket and Boston with his wife Elisabeth and two sons William and Charlie. He is an avid boater, tennis player, and is a collector of vintage automobiles.