Billingsley, who started in her new position in the fourth quarter of 2009, oversees the bank's debt and equity investments in affordable housing across the US, which total more than $2 billion.
She replaces Jim Francis, who co-founded the group in 1995, and has been promoted to lead the bank's consumer asset management division. Billingsley explains that she sees significant opportunities for the division to continue to grow in the coming year due to "a team with unparalleled experience," due to the division's "network of close relationships with some of the country's most talented developers, and because of the bank's "strong balance sheet."
Billingsley foresees a mixed market heading into 2010, filled with continued challenges stemming from last year's economic downturn, but she also sees 2010 as "ripe with opportunities for experienced and well-capitalized affordable housing lenders like Union Bank."
"Union Bank has an important role to play in providing financing for quality affordable housing developments in this complex market," says Billingsley "While many lenders have pulled back from the affordable housing market over the past year, Union Bank's strong balance sheet and credit rating have allowed it to continue closing deals, and to offer a variety of products, including permanent debt."
She continues, "In addition, the distinctive expertise of the CDF division's veteran team and its integration of debt and equity products have proved invaluable for clients trying to secure the complex layers of financing often required to build affordable housing."
In the next year, Billingsley plans to expand the CDF division's footprint in the Pacific Northwest, while continuing to serve its largest markets in Northern and Southern California. The division will continue to focus on financing high-quality affordable housing in areas with significant need, with particular emphasis on developments that are environmentally sustainable and promote smart growth.
For the past 14 years, she has overseen national real estate lending at Union Bank. She began her career with Union Bank in 1984 as a trainee, moved on to work at other major financial institutions including Security Pacific Bank and Credit Agricole, and then rejoined the bank in 1995, and played a key role in expanding its national lending platform.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
