Eden Housing Names Corinne Morrison as New CFO, Tatiana Blank as Vice President of Portfolio Finance and Asset Management

Morrison and Blank bring more than 40 years of combined finance and accounting experience to California’s second oldest affordable housing developer.

FOR IMMEDIATE RELEASE

Contact:
Nathan Ho, Policy & Communications Manager
(510) 247-8193, nho@edenhousing.org

Corinne Morrison (left), Eden's new CFO, and Tatiana Blank (right), Eden's new VP of Portfolio Finance and Asset Management

HAYWARD, CA – Eden Housing announced today Corinne Morrison as the new Chief Financial Officer and Tatiana Blank as the new Vice President of Portfolio Finance and Asset Management. Eden is California’s second oldest affordable housing developer and manager with more than 130 affordable communities in the state providing more than 8,700 affordable rental apartment homes to more than 22,000 low-income people.

Ms. Morrison brings more than 20 years of finance and operations management experience to the senior management team based in Eden’s Hayward headquarters. She was most recently the Vice President and Controller of BRIDGE Housing where she had worked since 2005. Previously, Ms. Morrison worked with PricewaterhouseCoopers.

Ms. Blank brings more than 20 years of real estate finance and accounting experience to Eden’s senior management team. She was most recently the Vice President of Corporate Finance of ROEM Development Corporation where she had worked since 2007. Previously, Ms. Blank worked with Novogradac & Company, a public accounting firm specializing in tax credit financed affordable housing projects. She is a Certified Public Accountant.

“We are excited to have both Corinne and Tatiana join Eden at this exciting time for our organization,” said Linda Mandolini, Eden Housing’s President. “Their experience and expertise will ensure the preservation and growth of our affordable housing portfolio, which will help address the crisis in this state. I look forward to working with them and to their leadership of our finance, asset management, and corporate and property accounting teams.”

Eden focuses on new construction, rehabilitation, and preservation through acquisition of affordable housing in California in this era of limited financial resources. This year, the nonprofit developer has a total of 410 new affordable rental apartment homes under construction including two near-complete affordable housing communities near South Hayward BART and near Soledad with a total of 195 new affordable rental apartments providing homes for seniors, families, and farmworkers and their families.

Another ongoing construction project in Dublin will complete early next year and will provide 72 new affordable rental apartments targeted to U.S. veterans.

Eden has also begun efforts to rehabilitate and refinance 17 affordable communities currently in its property portfolio totaling 1,156 apartment homes in 10 separate cities. The rehabilitation of affordable housing units is essential to ensuring the longevity and preservation of the communities’ affordability and high quality of life.

The organization has a number of potential acquisitions in the pipeline that would preserve the affordability of several affordable housing communities.

As CFO, Ms. Morrison will be responsible for corporate and real estate development accounting, finance and asset management, and business technology operations of Eden, its affiliates and ownership entities. She will work closely with the Finance and Audit Committees of the Board of Directors. Ms. Morrison will direct and manage Eden’s relationships with lending institutions, shareholders, and the financial community.

As Vice President of Portfolio Finance and Asset Management, Ms. Blank will ensure that all properties within Eden’s portfolio maintain a strong financial position, comply with all contractual, regulatory and statutory requirements, and fulfill all internal and external reporting requirements in an accurate and timely manner. She will also be responsible for benchmarking, investor, and lender relationships post-closing as well as strategic stewardship of Eden’s portfolio. Ms. Blank’s arrival is especially timely as Eden focuses on those 17+ properties in their ownership portfolio that will be re-syndicated and refinanced this year.

Ms. Morrison and Ms. Blank will lead Eden’s finance and asset management teams, which oversee Eden’s total assets of more than $1.15 billion with combined annual operating revenue of more than $86 million.

“Ensuring the stability of our finances is essential to the organization’s integrity and health,” said Nicholas Randall, Eden’s Board Chair. “Eden could not be who we are today without our investors and partners trusting our stewardship of both financial resources and assets.”

Ms. Morrison received her degree in business administration from Biola University and Ms. Blank received her degree in business administration from San Francisco State University.

Both Ms. Morrison and Ms. Blank will start at Eden Housing on February 16.

 

About Eden Housing

In its 48 years of service in California, non-profit Eden Housing has provided a home for more than 65,000 people. Hayward-based Eden Housing is the long-term owner-operator of its developments, and is committed to preserving and maintaining its buildings as community assets and supporting residents with a range of services. Since its founding in 1968, Eden Housing has developed, acquired, and/or managed more than 10,400 affordable homes in more than 165 properties. Eden provides professional property management and supportive resident services to families and individuals living in its portfolio of more than 8,200 apartment homes in nearly 130 properties throughout California. For more information about Eden Housing, visit www.edenhousing.org

Active: 
Yes
Release Date: 
Thursday, February 4, 2016
Date Updated: 
Thursday, February 4, 2016

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