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LEADERSHIP TEAM

Boston Financial has one of the most tenured, experienced management teams in the industry. Each senior member has an average of over 15 years experience in affordable housing and an average tenure of 14 years at Boston Financial.

Kenneth J. Cutillo

Chief Executive Officer

Mr. Cutillo is the Chief Executive Officer of Boston Financial. He has 15 years of experience in the low-income housing tax credit industry as a senior executive and tax attorney. Prior to Boston Financial, Mr. Cutillo was a Senior Vice President at The Alliant Company, where he had strategic and operating responsibilities for Alliant’s tax credit acquisition group. During his tenure at Alliant, Mr. Cutillo directed the firm’s investment of approximately $2.3 billion of LIHTC transactions in 376 properties nationwide. Prior to that, Mr. Cutillo was a Tax Partner at McGuireWoods, LLP and Chairman of its Affordable Housing Group. Mr. Cutillo began his career in affordable housing in 1994 as outside tax counsel working for First Chicago Leasing Corporation (now JP Morgan Chase), representing First Chicago and other real estate clients in approximately 150 low-income housing transactions. Mr. Cutillo received his B.A. from The University of the South in Political Science and History, a Juris Doctor Cum Laude from the University of Georgia School of Law, and a Master of Laws in Taxation from the University of Florida. Mr. Cutillo is married with two children and lives in suburban Boston.


Gregory B. Judge

Chief Operating Officer

Mr. Judge brings more than 20 years of experience to the affordable housing industry since he began his career at Boston Financial in 1989. Since 2008, he has been the President of the Company. Prior to that, Mr. Judge was leading the tax credit and affordable debt production groups as well as the tax credit and affordable debt underwriting groups. In 1998, Mr. Judge was selected to lead the firm’s Specialty Placement Group which focused on tax credit investments in public housing, HOPE VI, HUD revitalization, supportive housing and other complex urban transactions. Under his leadership, the Specialty Placement Team amassed the country’s largest portfolio of HOPE VI properties, consisting of 7,000 units in 150 projects totaling $1 billion of equity investment, and became one of the foremost industry experts in HOPE VI transactions in the country. Mr. Judge started his career at Boston Financial as an asset manager and then moved to the tax credit syndication group as an analyst and later as a production officer. Mr. Judge is a member of the Affordable Housing Tax Credit Coalition; is a frequent industry lecturer; and received a B.A. from Colorado College and a Master’s of Business Administration from Boston University. He is married with two children and lives in suburban Boston.


James S. Dailey Sr.

Executive Vice President, Chief Credit Officer

Mr. Dailey is Boston Financial’s Chief Credit Officer. He has 24 years of experience in affordable housing and is responsible for the underwriting of all affordable property acquisitions at the firm. Mr. Dailey has been involved in numerous aspects of the low income housing business, including tax credit acquisitions, corporate fund treasury management, investor sales, and asset management where he specialized in real estate workouts. Mr. Dailey has been a member of the firm’s Investment Committee since 1994 and has been integrally involved with helping the company assemble its tax credit portfolio. Prior to joining Boston Financial, Mr. Dailey was a Senior Accountant and Certified Public Accountant with Ernst & Whinney. Mr. Dailey received a B.B.A. from the University of Notre Dame and a Master’s of Business Administration from Babson College and lives in the Boston suburbs with his wife and four children.


Michael H. Gladstone

Executive Vice President, General Counsel

Executive Vice President, General Counsel Mr. Gladstone leads the Capital Transactions team for Boston Financial, with the primary responsibility for property work-outs, dispositions and refinancings. Mr. Gladstone brings 24 years of affordable housing experience to his role and has acted in numerous capacities at the firm, including General Counsel and Deputy General Counsel under previous ownership structures. Prior to joining Boston Financial, Mr. Gladstone was an attorney with Herrick & Smith and Powers & Hall. Mr. Gladstone has served on the advisory board of Housing and Development Reporter and has lectured at Harvard and Cornell Universities on affordable housing matters. He is a member of the Cornell Real Estate Council and Massachusetts Bar. Mr. Gladstone earned a B.A. from Emory University and a Juris Doctor and Master’s of Business Administration from Cornell University.


John B. McEntire

Senior Managing Director

Mr. McEntire brings more than 30 years of experience in the apartment industry as a senior executive and tax attorney. Over the last 15 years, he has been an investor in existing apartments, including many affordable housing projects. Prior to that, Mr. McEntire formed his own company, developing apartment projects in the Southeastern states. When development activity waned, his company became an investor in severely troubled assets, taking over 80 single asset limited partnerships throughout the U.S., including many affordable housing projects. Mr. McEntire began his career as tax counsel to one of the largest developers in the country, structuring the company’s tax-oriented real estate investments. He became head of the company’s apartment development division and a member of its executive committee. Mr. McEntire is a graduate of Dartmouth College and the University of Texas School of Law. He is married, has 3 adult children and lives in Carmel, California.


Armando Pérez

Executive Vice President, Investment Management

Mr. Pérez directs Asset and Fund Management activities for Boston Financial’s tax credit equity investments in more than 1,700 properties nationwide and is also responsible for all third-party asset management services. Mr. Pérez brings 25 years of affordable housing real estate experience to his role, including 17 years of low-income housing tax credit experience. Prior to joining the firm, Mr. Pérez was an Asset Management Officer at the Massachusetts Housing Finance Agency. Mr. Pérez earned a B.A. from Columbia College; earned a Master’s in Regional Planning from Cornell University on a Cornell Graduate Fellowship; and completed the MIT Center for Real Estate's Minority Developers Executive Program. Mr. Pérez is a member of the Cornell Real Estate Council and sits on the Board of Directors of the ETC Development Corporation, a non-profit housing development corporation located in Boston.


Marie D. Reynolds

Executive Vice President, Finance Reporting & Treasury

Ms. Reynolds has over 15 years of financial reporting and financial analysis experience within the affordable housing industry. She is responsible for Boston Financial’s Corporate and Tax Credit Fund Reporting functions, including the treasury and business planning functions. Ms. Reynolds has also been involved in the diligence and transition phases of the three sale transactions involving the ownership of Boston Financial and its predecessor organizations. Ms. Reynolds has held numerous financial positions with Boston Financial. From 1999-2009, she served as Business Unit Controller under Lend Lease and MuniMae ownerships. Ms. Reynolds started her career at Boston Financial in 1995 first as an assistant controller of the Tax Credits Funds and then as Senior Financial Analyst in the corporate reporting group. Prior to joining Boston Financial, Ms. Reynolds was an assistant controller, responsible for the financial reporting of the Lehman Brothers Commercial Office Building Limited Partnership investments. Ms. Reynolds received a B.B.A. from Siena College and an MBA from Suffolk University. She lives in the Boston suburbs with her husband and two children.


Gregory P. Voyentzie

Executive Vice President, Acquisitions

Mr. Voyentzie brings 14 years of affordable housing experience to Boston Financial and manages the firm’s East Coast acquisitions office in Boston, Massachusetts. In addition to managerial responsibilities, he also originates, structures and negotiates tax credit affordable housing investments in the Midwest and Texas markets. Mr. Voyentzie’s tenure with Boston Financial began in 1999 as a member of the acquisitions department, where he initially specialized in investing in historic tax credit properties for a private label, single investor fund. To date, Mr. Voyentzie has invested over $750 million of equity in affordable housing and historic properties. Prior to joining the firm, Mr. Voyentzie was a manager in the real estate accounting practices of PricewaterhouseCoopers and Ernst & Young. Mr. Voyentzie is a frequent speaker at state and national conferences and serves on the Board of Directors for the Louisiana Association for Affordable Housing. He earned a B.S. in Finance and Accounting and a Master’s of Business Administration from the University of Connecticut and lives in the Boston suburbs with his wife and two children.


Catherine L. Talbot

Senior Vice President, Acquisitions

Ms. Talbot brings 18 years of low-income housing experience to Boston Financial and manages the firm’s West Coast office in San Francisco, California. In addition to her managerial responsibilities, she originates, structures and negotiates tax credit affordable housing investments in the Western markets. Ms. Talbot’s tenure with Boston Financial began in 1991, where she served as a member of the Institutional Sales Team in the Boston office and as an Analyst in the Tax Credit Acquisitions Department. Ms. Talbot is directly responsible for building the firm’s presence on the West Coast and has invested over $500 million of equity in the California markets alone. Ms. Talbot is a Board member of the Mathari Children’s Fund, a non-profit organization dedicated to educating children in Kenya; a Board Member and Treasurer of the California Council for Affordable Housing; and a frequent speaker at state and national affordable housing conferences. Ms. Talbot earned a B.A. in Economics at the University of New Hampshire and has lived in San Francisco since 2001.


Damon Khouri

Senior Vice President, Information Technology

Mr. Khouri manages Boston Financial’s IT infrastructure and applications development function and is responsible for defining and implementing system and process improvements. Mr. Khouri leads Boston Financial’s efforts to leverage technology to facilitate future growth through innovation and efficiency, and ensures that IT initiatives are aligned with key business objectives. Prior to joining Boston Financial, Mr. Khouri helped establish the technology platform for the Wealth Management division at John Hancock Financial. Mr. Khouri also spent several years as an IT consultant, primarily working with medium- and large-sized corporations in the financial services industry. Mr. Khouri received his B.A. from Bryant University, a Client/Server development certificate from Boston University, holds a PMP certification from the Project Management Institute, and is currently completing his MBA at the Franklin W. Olin Graduate School of Business at Babson College.


Jennifer Tenczar

Director, Human Resources

Ms. Tenczar has over 12 years of experience in the Human Resources field and joined Boston Financial in 2007. Prior to that, Ms. Tenczar was a Human Resources Manager at OpenPages, Inc. and PricewaterhouseCoopers, LLP in the Boston, MA and San Jose, CA practices. Ms. Tenczar received a BS and Master’s of Business Administration from Babson College with a focus of study in strategic human resource management and entrepreneurship. She received her Professional Human Resources Certification in 2002. Ms. Tenczar is a member of the Northeast Human Resources Association and Society for Human Resource Management. She is also a Big Sister with the Big Sister Association of Greater Boston. Ms. Tenczar resides in Boston.