MuniMae Completes Reorganization

MuniMae, a Baltimore-based multifamily lender and investment manager, has announced the completion of a company reorganization that resulted in an 8% reduction in its work force over the past year.The company now has two major business groups, MuniMae said. Executive vice president Gary A. Mentesana will lead the affordable housing group, which combines the company's tax credit equity, tax-exempt, and taxable lending businesses. Executive vice president Charles M. Pinckney will lead MuniMae's real estate finance and investment management group, which will focus on market rate multifamily and commercial financings. Jenny Netzer and Frank G. Creamer Jr. will lead efforts to expand business opportunities and capital relationships. "While efforts such as these are never easy, and good people were asked to leave the business, we have nonetheless now positioned ourselves to deliver services more efficiently and pursue new opportunities that will improve profitability," said Michael Falcone, MuniMae's chief executive officer. The company can be found online at http://www.munimae.com.