Pittsburgh State of the Market

Mr. Walsh is Chief Operating Office and Principal with Rugby Realty Co., Inc. He manages all aspects of the day-to-day operations of the Pittsburgh Portfolio. He joined Rugby in 2003 after a successful career developing CVS/pharmacy drug stores across the country for Armstrong Development, headquartered in Pittsburgh. Born and raised in Pittsburgh he has a Masters in Public Policy and Management with a concentration in Urban and Regional Economic Development from Carnegie Mellon University.

Ethan Fellheimer has been active in real estate acquisition and development for over 10 years. In 2000, Fellheimer founded The Fellheimer Group which was responsible for the development of the former Bookbinders Building at South 15th Street, in Philadelphia, Pennsylvania. Other significant Philadelphia area development/acquisition deals include: 1401 Walnut Street, The Shops at Lasalle University, 211 North 13th Street, The Essex Condominiums at 300 North Vine Street, among others. Prior to engaging in real estate full time, Mr. Fellheimer spent seven years as Senior Vice President of Pennsylvania Business Bank as a commercial lender and Head of Marketing. Fellheimer was selected as one of the Philadelphia regions "40 under 40" young business leaders and in 2000 received Philly Tech Magazine's "30 under 30" award. Mr. Fellheimer remains active in the business community of Philadelphia, and is often a lecturer at universities and the Pennsylvania Bar Institute regarding entrepreneurial endeavors, networking, and legal issues of debtor/creditor law. Fellheimer serves on the Board of Directors of Albert Einstein Healthcare Network and Jewish Federation of Greater Philadelphia. He received his undergraduate degree from the University of Pennsylvania and received his law degree from Temple University School of Law. He lives in the suburbs of Philadelphia with his wife and two children.

Rick Belloli focuses on shaping and implementing Q Development’s community-based investment strategy. His two decades of experience in real estate and community development have been key to positioning Q to make impactful investments at the neighborhood level. Mr. Belloli’s experience in real estate is extensive and includes participation in more than $100 million of adaptive reuse or new development projects. His role has been wide-ranging, and includes the financing, development, and/or management of commercial, mixed-use, and residential properties in Pittsburgh and Detroit. Previous to Q, Mr. Belloli cofounded Civic Square LLC with his wife, Lisa Belloli, to provide comprehensive community revitalization guidance to investors, communities and nonprofit organizations engaged in economic revitalization activities. Prior to launching Civic Square, Mr. Belloli was Executive Director of South Side Local Development Company, a post which he held for 8 years. Mr. Belloli has over twenty years of experience in community and economic development in Pittsburgh and Detroit. Mr. Belloli has a B.A. from the University of Michigan and two Masters Degrees from Wayne State University and attended an Executive Education program at Stanford University.

Matt Knisely joined Shorenstein in 2006. He is responsible for sourcing, evaluating, negotiating, and closing capital transactions for the Eastern United States. He serves as the Asset Team Lead for designated properties with responsibility for developing and executing asset strategies. Prior to joining Shorenstein, Mr. Knisely was a vice president with Trilyn, LLC where he worked on the formation, fundraising and investing of a mezzanine debt fund. Previously, he was a vice president with L&L Acquisitions, LLC, where he was responsible for acquisitions, fundraising and portfolio management, and prior to L&L Acquisitions, worked as an associate in the Acquisitions Group for The Carlyle Group’s real estate opportunity funds. Mr. Knisely graduated from The University of Richmond with a B.A.

Jeffrey Ackerman is the managing director and market leader for CBRE’s Pittsburgh Office and leads 70 real estate professionals and 180 employees in two offices in Western Pennsylvania and West Virginia. His responsibility as Market Leader spans over 9 lines of business including brokerage, investment properties, asset services, property management, corporate services, debt & equity finance, facilities management, project management and valuation & appraisal services. Jeffrey has a career spanning over 30 years, with experience in virtually every aspect of commercial real estate from brokerage to executive management. His experience ranges from operations, construction management and asset management, to acquisition, disposition and contract negotiations. For 16 years, Mr. Ackerman was one of CBRE’s top-producing sales professionals, the leader of its Investment Properties group in Pittsburgh and, for three years, the national managing director of CBRE’s Private Capital Group. During his leadership of the Private Capital Group, he led the growth, expansion and recruiting for this group across the U.S. and was instrumental in integrating multiple service lines as well as rolling out new service offerings and initiatives to benefit CBRE’s investment clients. Mr. Ackerman now serves as a trusted advisor to institutional owners, major corporations and public agencies, and is widely respected as one of the Pittsburgh region's foremost industry experts and a highly respected CBRE leader.

Michael Polite brings expertise honed over more than three decades of developing affordable, mixed-income and market-rate housing in western Pennsylvania and eastern Ohio. From 2019 through 2020, prior to joining Beacon, Michael was Chairman and CEO of Catalyst Communities LLC – an affordable housing development company created by Michael and Beacon Communities. From 2009 to 2019, he was Chairman and CEO of Ralph A Falbo, Inc., where he identified and led projects creating 968 units with total development costs of over $200 million; preserved a mix of 1,005 family and senior housing units financed with permanent sources totaling $143,000,000 through a mix of tax-exempt bond/4% tax credit equity, 9% tax credit equity and market rate debt; and consulted on the economic development of low-income areas, resulting in over $50 million of investment.

Neil Beldock has over 30 years of experience as a real estate finance professional. Over those 30+ years Neil has held positions at Citigroup, Coast Federal Bank of California, Independence Bank of Los Angeles, Family Savings Bank of Los Angeles, Hamburg Savings Bank of New York, Interbay Funding and Velocity Commercial Capital. Neil has held executive and senior level management positions covering loan originations, loan operations, loan servicing, secondary marketing, loan securitization and joint venture operations. Neil is also a published author having written articles for numerous mortgage industry publications including the Scotsman Guide, Commercial Mortgage Insight, The Mortgage Press and National Mortgage Broker Magazine. Currently, Neil serves as a Senior Executive at Pender Capital Funding in Dallas, Texas.

Darrell Davis joined the HACP staff in June of 2017 with nearly 25 years of experience in urban development, real estate finance, and affordable housing. Darrell is responsible for the redevelopment and modernization of the HACP housing portfolio of more than 4,000 public housing units and 900 mixed finance units. Having lived in public housing as a child, Darrell is dedicated to creating thriving communities where every person has access to opportunity. Darrell has spent the majority of his career working in real estate and community development helping to provide safe, decent, and affordable housing for urban communities. He is a graduate of the Columbus Academy and the Howard University School of Architecture and Planning. Both schools impressed upon him an intense sense of responsibility and obligation to give back to the communities from which we came. Darrell has served in several government and non-profit development roles, including the Stark Metropolitan Housing Authority where he served as Director of Development, the Ohio Housing Finance Agency where he served as a Housing Development Underwriter responsible for reviewing and awarding funding for affordable housing development projects, and the Columbus Compact Corp. where he worked to bring much needed retail and housing development to the near east side community of Columbus, Ohio. He has also worked with national and regional for-profit developers including ING/Clarion and the Kaempfer Company in Washington, DC.

Julie Edwards is a Real Estate Officer – Community Coordinator with the Urban Redevelopment Authority of Pittsburgh (URA). She is responsible for coordinating activity related to the acquisition and disposition of property by the URA. Julie also works with community-based organizations, developers, and residents to support the community’s understanding of the URA’s acquisition and disposition process. Julie holds a Bachelor of Arts Degree from Kent State University’s College of Architecture and Environmental Design and a Master of Science Degree from Ball State University’s College of Architecture and Planning. Prior to the URA, Julie was employed at a County Planning Commission in Northeast Ohio where she worked on economic development, housing, and community planning.

Carolyn McMullen, senior vice president, is responsible for multifamily and healthcare loan originations for the FHA Finance group. Ms. McMullen is based out of Walker & Dunlop’s Chicago office. Over the course of her career, Ms. McMullen has originated, structured, and closed more than $1 billion in volume. Her experience includes tax exempt bond and tax credit transactions as well as loans structured with Fannie Mae, Freddie Mac, HUD, and bridge lenders. Prior to joining Walker & Dunlop, Ms. McMullen was a regional manager at Prudential Huntoon Paige where she was responsible for staffing and managing the Midwest mortgage banking office, specializing in FHA mortgage banking originations and originating loans. Before joining Prudential Huntoon Paige, Ms. McMullen was a director at GMAC Commercial Mortgage and responsible for mortgage banking and investment banking originations. Ms. McMullen also worked nearly ten years for Red Capital (formerly Banc One Capital Corporation). Ms. McMullen received a Bachelor of Arts from Hampshire College, a Ph.D. and master’s degree from Princeton University, and a Master of Business Administration from the University of Chicago.

Respected by her clients for her organizational skills and attention to detail, Dina Snider has managed new construction, renovation, and historic preservation projects throughout her career, including Equitable Resources Building, Market Square Place, and East Liberty Place. The knowledge and talent she brings to each project – sophisticated insights from years of building solutions and a deep understanding of green building practices and building code requirements – make her highly valuable to clients. As a LEED Accredited Professional and the leader of Strada’s sustainable design initiatives, Dina contributes green design thinking to all of Strada’s projects. She also has a depth of experience in code and zoning evaluations and solutions, having completed many complex renovation projects in the region. In recent years, Dina has excelled as the project architect for the University of Pittsburgh Public Safety Building, delivered under a CM at-risk method, and for the Bridgeside II Laboratory Center Incubator Building at the Pittsburgh Technology Park. For the Bridgeside II project, she coordinated with Payette Associates to provide supplementary services to accommodate the new Vivarium tenant fit-out for the building. Also highly skilled as an architect of retail projects, Dina was integral to the development of a new prototype bank branch for National City Bank and the renovation of The Galleria, an upscale shopping mall. For years, Dina sustained Strada’s ongoing relationship with Giant Eagle, a client with extensive needs in both renovation and new construction. More recently she has worked on retail and hospitality projects with national real estate firm M&J WIlkow. Dina has directed the design and construction of more than 100 retail projects. Dina is equally committed to the social dimension of architectural practice. Her previous positions with non- profit development corporations and on the boards of non-profit, community-based organizations have given her a valuable understanding of community development, residential restoration, and the development of social services programs.