135 E. 57th St., where Guggenheim
is based. The company has hired two
multifamily veterans to launch its
new platform.

NEW YORK CITY-Guggenheim Commercial Real Estate Finance LLC and Guggenheim Partners affiliate Pillar Multifamily LLC have hired Andrew Weil and Justin Ginsberg to head up a newly launched affordable housing division. Weil and Ginsberg, who have joined GCREF as managing directors, will be based here and in San Francisco.

The team will be jointly responsible for building, managing and growing the platform for GCREF and Pillar. According to a release, they’ll oversee the financing of affordable multifamily properties through Fannie Mae, FHA and Guggenheim Partners’ proprietary life insurance company capital; deploy conventional equity to preserve affordable properties; and develop new financing products to meet the needs of developers and investors alike in the affordable housing space. Weil and Ginsberg will report to Anand Gajjar, CEO of Pillar Multifamily, which Guggenheim Partners formed in 2010, not long after it launched GCREF and hired Robert Brennan Jr. to run it.

Before they joined Pillar, Weil and Ginsberg worked at CW Capital LLC, where they were brought in last year to spearhead a newly launched affordable housing platform and a Low Income Housing Tax Credit syndication business. Prior to their CW Capital stint, the two spent more than 15 years at Centerline Capital Group, where they led Centerline’s affordable housing group.

At Centerline, Weil served as an executive managing director and head of the affordable housing group, while Ginsberg served as a senior managing director. During that time, they oversaw the acquisition and disposition of properties with LIHTC; the origination and structuring of institutional funds; debt originations with Fannie Mae and Freddie Mac; and private placement tax exempt bonds. Assets under management grew to $10 billion during their time at Centerline.

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In a release, Brennan says Weil and Ginsberg’s experience in the sector, as well as their history working together, “makes them ideally suited to lead our new affordable housing division. With these additions to our new division, we will now have more than 35 years of combined experience across our platform.”