The appointment of Ed Stone as Senior Vice President of Syndications at CAHEC represents a strategic move for the community development organization as it positions itself for growth in affordable housing finance. Stone's extensive background in Low-Income Housing Tax Credit equity, credit, and asset management brings critical expertise to CAHEC's leadership team during a period of increasing demand for affordable housing solutions across the Southeast and Mid-Atlantic regions.
Stone joins CAHEC from CREA, where he served as Chief Credit Officer from 2021 to 2025. During his tenure at CREA, Stone fostered a culture focused on streamlining and automating key components of the investment diligence and approval process, while coaching staff to better align with the capacities and needs of stakeholders. Under his leadership, CREA closed more than $1.3 billion annually in LIHTC equity, demonstrating his capacity to manage substantial affordable housing investment portfolios.
Prior to his role at CREA, Stone spent over a decade at Fannie Mae from 2009 to 2021, holding two senior leadership positions. As Director, Equity and Structured Asset Management, he oversaw Fannie Mae's equity investment portfolios, including LIHTC, preferred equity, and community lending. He later served as Senior Director, Equity Investments, where he led efforts to re-enter the LIHTC market after a ten-year absence, authored syndicator investment guidelines, and managed the analyst team responsible for closing syndicator transactions.
This appointment matters because affordable housing remains a critical challenge across the United States, with organizations like CAHEC playing a vital role in developing and preserving housing options for low-income residents. Stone's experience in both credit oversight and equity investment positions him to enhance CAHEC's syndication capabilities, potentially increasing the flow of capital to affordable housing projects. His background in streamlining investment processes could lead to more efficient deployment of resources, benefiting both investors and communities in need of housing solutions.
The implications of this leadership change extend beyond CAHEC's internal operations. As affordable housing developers face increasing construction costs and regulatory challenges, experienced leadership in tax credit syndication becomes increasingly valuable. Stone's track record of managing billion-dollar portfolios suggests he can help CAHEC scale its impact while maintaining rigorous credit standards. This could result in more affordable housing units being developed or preserved in communities served by CAHEC's initiatives.
CAHEC engages in diverse product areas beyond LIHTC, including historic tax credits, new markets tax credits, and renewable energy credits. Stone's comprehensive experience in structured finance and asset management may help integrate these various programs more effectively, creating synergistic benefits for community development projects. Additionally, CAHEC offers loan programs, wellness and education initiatives for residents, affordable housing development, and property management services, all of which could benefit from strengthened syndication capabilities under Stone's leadership.
For stakeholders in the affordable housing sector, this appointment signals CAHEC's commitment to strengthening its position in competitive markets. Stone's investor intuition and coaching abilities, noted by CAHEC President & CEO Dana Boole, suggest he will focus not only on transaction volume but also on developing team capabilities and maintaining strong investor relationships. As affordable housing finance becomes increasingly complex, leadership with Stone's depth of experience becomes essential for organizations navigating regulatory requirements, investor expectations, and community needs.
To learn more about CAHEC's contributions to affordable housing and surrounding communities, visit https://www.cahec.com.
