Greenline Ventures

Our Team

With over 15 years of working together, our team delivers.

Patrick Vahey

President

Patrick.Vahey@greenlineventures.com

Patrick Vahey is the President of Greenline, and is responsible for the management and oversight of all of Greenline’s activities. He was previously the managing director of Capmark’s NMTC division, which started in 2004. He began his career at Capmark in 1998 at its construction lending division in Chicago. In 2000, he transferred to Capmark’s investment banking division in Denver, where he was responsible for the origination of mezzanine debt and preferred equity investments. Upon Capmark’s entrance into bankruptcy, Patrick led an 18+ month effort to acquire the NMTC division, which was completed in April 2011, and renamed as Greenline Ventures LLC. Patrick has a B.A. in Economics from the University of Vermont.

Randy Kahn

Executive Vice President

Randy.Kahn@greenlineventures.com

Randy Kahn is an Executive President of Greenline, and is involved in activities, including transaction structuring, tax credit syndication, debt financing, origination, underwriting, asset management and NMTC compliance. He began his career at Capmark in 2002, and has worked in banking and finance structures since 1996, including low income housing finance, project finance and private equity deal analysis in both the U.S. and abroad. He has helped raised over $1 billion of debt and equity funds for not-for-profits, government instrumentalities and private clients. Randy formerly served as the Associate Managing Director of Virgin Islands Capital Resources, Inc. (VI Cap). In this capacity he raised funds from the CDFI Fund, under the Core Program and thus became one of the first two pure venture funds ever to receive a CDFI Core Program award. Randy has a B.A. in Computer Science from Dartmouth College and an M.B.A. from the Wharton School at the University of Pennsylvania.

Kermit Billups

Executive Vice President

Kermit.Billups@greenlineventures.com

Kermit Billups is an Executive President of Greenline, and is involved in activities including transaction structuring, tax credit syndication, debt financing, origination, underwriting, and NMTC compliance. Kermit began his career at Capmark in 1999 and has been a member of the NMTC platform since 2004. He has been in investment banking since 1992, with an emphasis on developing solutions for deficiencies in low income communities nationwide, including complex and innovative financings to benefit low income housing tax credit and New Markets Tax Credit transactions. He has participated in over $3.5 billion of project finance and affordable housing capital. He has successfully completed over 50 taxable and tax-exempt revenue bond programs to serve low and moderate income individuals. Prior to joining Capmark, Kermit worked for Honeywell, IBM, Legg Mason and Stephens Inc. Kermit has a B.A. in Economics from Harvard College and an M.B.A. from the Harvard Graduate School of Business Administration.

Fred Koch

Vice President

Fred.Koch@greenlineventures.com

Fred Koch is a Vice President of Greenline, and is primarily responsible for new deal originations, and syndication activities, including identifying investors, determining investor needs and coordinating financing commitments for New Markets Tax Credit related activities. He began his career at Capmark in 2001, and has been a member of the NMTC platform since 2003. Fred has been in institutional sales and trading since 1993, with a focus on sales and trading with investment firms across the country. He has participated in various transactions totalling over $2 billion, including multiple tax credit structures, tax exempt municipal bonds, taxable bonds and military housing finance. Fred has a B.S. in English Literature from Lewis & Clark College.

Andy Walvoord

Vice President

Andy.Walvoord@greenlineventures.com

Andy Walvoord is a Vice President of Greenline, and his responsibilities include the evaluation, structuring, closing and syndication of tax credit transactions. He began his career at Capmark in 2001, and has been a member of the NMTC Platform since 2007. Andy has been in investment banking since 1996, providing financing on over $2 billion of real estate related projects serving low income communities, including financing of multifamily housing, 501(c)3 bonds, industrial revenue bonds, lease revenue bonds and tax backed structures such as public facilities districts and tax increment financings. Andy has a B.A. in English Literature from Yale University, and an M.B.A. from the University of Texas.

Nathan Perry

Vice President – Asset Management

Nathan.Perry@greenlineventures.com

Nathan Perry is a Vice President of Greenline, and oversees all Asset Management for the company. He began his career at Capmark in 2002, and has been a member of the NMTC platform since 2006. Nathan’s focus is specifically on the asset and risk management associated with both the Greenline allocations, third party allocations and all underlying investments. Prior to joining the NMTC platform Nathan was the senior asset manager for a $400 million market rate bridge and mezzanine platform at Capmark. He performs asset and risk management associated with over $1 billion of NMTC investments. Nathan has a B.S. in Finance and a B.A. in Economics from the University of Colorado.

Kelly Casi

Vice President

Kelly.Casi@greenlineventures.com

Kelly Casi is a Vice President of Greenline and manages all aspects of NMTC Compliance for the organization. She began her career at Capmark in 2004, and has been a member of the NMTC platform since 2004. Kelly oversees all of Greenline’s NMTC compliance, including all activities related to CDFI & IRS regulations, investor and CIIS reporting, audits & tax returns, substantially-all testing, advisory board maintenance, document management, cash distributions, QALICB compliance and servicing. She also oversees the compliance management of 35+ third party CDEs that have received NMTC allocation. Kelly has a B.A. in Organizational Management from Colorado State University.

Chuck Jensen

Vice President – Accounting

Charles.Jensen@greenlineventures.com

Chuck Jensen is a Vice President of Greenline. He began his career at Capmark in 2002, and has provided the accounting support for the NMTC Platform since 2005. As our Controller, he oversees all bookkeeping for CDE and Leverage Fund entities, distributions, audit & tax return approval and REO accounting. Chuck is a licensed CPA, holds a Series 27 license, and was the Financial Operations Officer for a broker-dealer and involved in SEC and FINRA broker-dealer and other Governmental program compliance. Chuck has a B.A. in Accounting from the University of North Dakota.

Jessica Carrillo

Assistant Vice President – Compliance Officer

Jessica.Carrillo@greenlineventures.com

Jessica Carrillo is an Assistant Vice President of Greenline. Ms. Carrillo began her career at Capmark in 2002, and has been a member of the NMTC platform since 2005. She has provided compliance support for all NMTC related activities at Greenline, including CDE and investor reporting, cash flow analysis and account maintenance. Jessica is also responsible for providing compliance support to third party investments that the organization has made into other CDEs. Additionally, she provides accounting related support to Greenline. Prior to her position at Greenline, Jessica was an Accounts Payable associate at Capmark.

Lizabeth Einspahr

Operations Manager

Liz.Einspahr@greenlineventures.com

Liz Einspahr is the Operations Manager of Greenline, and has been with the company since 2011. Prior to her current position, she was employed for over 5 years at a national commercial real estate finance company, where she assisted 8 real estate brokers for both ongoing transactions, and compliance functions relating to the Colorado Department of Real Estate. At Greenline, Liz is primarily responsible for providing compliance-related support as well as assistance with CDE reporting, sub-all testing, investor and CDFI reporting and asset management diligence. Liz has a B.S. in Marketing from the Metropolitan State University of Denver.