NEW YORK CITY-Guggenheim Commercial Real Estate FinanceLLC and Guggenheim Partners affiliate PillarMultifamily LLC have hired Andrew Weiland Justin Ginsberg to head up a newly launchedaffordable housing division. Weil and Ginsberg, who have joinedGCREF as managing directors, will be based here and in SanFrancisco.

The team will be jointly responsible for building, managing andgrowing the platform for GCREF and Pillar. According to a release,they’ll oversee the financing of affordable multifamily propertiesthrough Fannie Mae, FHA andGuggenheim Partners’ proprietary life insurance company capital;deploy conventional equity to preserve affordable properties; anddevelop new financing products to meet the needs of developers andinvestors alike in the affordable housing space. Weil and Ginsbergwill report to Anand Gajjar, CEO of PillarMultifamily, which Guggenheim Partners formed in 2010, not longafter it launched GCREF and hired Robert BrennanJr. to run it.

Before they joined Pillar, Weil and Ginsberg worked atCW Capital LLC, where they were brought in lastyear to spearhead a newly launched affordable housing platform anda Low Income Housing Tax Credit syndicationbusiness. Prior to their CW Capital stint, the two spent more than15 years at Centerline Capital Group, where theyled Centerline’s affordable housing group.