Kevin Deegan Joins Harmony Housing to Boost Acquisitions of Affordable Properties

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NEW YORK, June 17, 2014 (GLOBE NEWSWIRE) -- Harmony Housing Advisors, Inc., which provides services to Harmony Housing, a non-profit organization formed to own and acquire affordable housing in the U.S., today announced that Kevin Deegan has been named Vice President, Acquisitions. In this role, Deegan will source mature affordable housing and expiring use LIHTC multifamily properties for Harmony Housing to grow its portfolio of affordable rental housing properties.

Prior to joining Harmony Housing Advisors, Deegan was a Senior Vice President of Capital Transactions at Centerline Capital Group where he identified and created additional value within the company's $10 billion affordable housing portfolio. Kevin has experience in the valuation, disposition, refinance, resyndication and work-out of all property types within the affordable housing sector, as well as investing and disposing of multi-tiered limited partnership and general partnership interests. Before Centerline, Kevin worked at The Schonbraun McCann group where he consulted for numerous national REIT clients to assist in their purchase and sale of multifamily, retail, commercial and office assets throughout the country.

Harmony Housing's goal is to grow its affordable rental housing properties and provide safe, comfortable and affordable housing across the country. Harmony Housing's proceeds are ultimately reinvested into its property portfolio or distributed to the broader community through charitable giving, thus achieving the twin goals of transforming neighborhoods and helping people reach their full potential.

"Kevin's deep expertise in affordable housing transactions will be invaluable in identifying off-market LIHTC properties for Harmony Housing to acquire and hold as long-term affordable housing assets," said Bob Barolak, President, Harmony Housing Advisors, Inc.

"I am extremely excited to help Harmony Housing become a premier non-profit owner and provider of high-quality, safe affordable housing. Target acquisition properties are those approaching the end of their first affordable phase. We intend to purchase these properties as they are about the leave the tax credit world and preserve them as affordable assets on a permanent basis so that we can continue to deliver the lower-rent housing that is so desperately needed today," commented Deegan.

Deegan earned a Bachelor's degree in Finance and Economics from Virginia Tech University.

About Harmony Housing

Harmony Housing Advisors, Inc. provides consultative services to Harmony Housing, a 501(c)(3) formed to own and acquire multifamily affordable housing across the United States. Harmony Housing's mission is to provide and grow the availability of affordable housing to those in need around country. For more information visit www.HarmonyHousing.org.

CONTACT: Contact@HarmonyHousing.com

Source:Harmony Housing