Red Stone Companies is proud to announce that Cody Z. Langeness has been promoted to the role of President of Red Stone Tax-Exempt Funding, LLC (“Red Stone”). Mr. Langeness has been employed by Red Stone for 10 years, where he has played a leading role in the origination, structuring and underwriting of over $1.5 billion in multifamily loans and equity investments. Additionally, during his prior role as Managing Director, Mr. Langeness raised and oversaw the management of over $1 Billion of investor capital allocated towards Red Stone’s active affordable housing investment platforms. Cody succeeds James Spound, who has resigned to pursue other interests.

In conjunction with Mr. Langeness’s new role, Brian A. Renzi has been promoted to Managing Director in charge of Originations for Red Stone. Mr. Renzi has been employed by Red Stone for eight years.

“I’m honored and excited to take on the role of President of Red Stone,” said Mr. Langeness. “2015 was a great year for us with about $250 million in closed transactions. I look forward to working closely with our investors, clients and management team to continue to grow Red Stone as a national leader in the financing of affordable housing.”

John Sokolovic, Co-Founder and Senior Managing Director of Red Stone Companies, stated, “I believe Red Stone, under Cody's leadership, will be in a great position to expand its tax-exempt platform as well continue to diversify into many new and innovative debt and equity products for the industry.”

Since its inception, Red Stone has provided in excess of $5 billion for the financing of affordable multifamily transactions. Additionally, the company has recently provided $1,200,000,000 in financing for the preservation and construction of affordable housing nationwide under its Direct Bond Purchase Program representing 131 properties comprising 15,026 rental units in 26 states.

“We are enthusiastic about Brian and Cody’s new roles. Together they have closed over $500 Million in bond financings over the last two to three years. I’m excited to see what is in store for the next ten to twenty years,” added David Levine, Co-Founder and Senior Managing Director of Red Stone Companies.

About Red Stone:

Red Stone is a national multifamily real estate finance company focused on providing innovative financial products to the affordable housing industry. Red Stone provides a full range of debt and equity capital including: tax-exempt bond financing, bridge lending, HUD-approved FHA insured lending, mezzanine and participating debt, and conventional equity. Red Stone offers developers flexible, efficient structures and certainty of execution. For more information, visit our website at www.redstoneco.com or call (212) 297 1800.