People

The Community Development Finance (CDF) division employs a staff with decades of experience in debt and equity financing and a passion for community development. Members of the CDF team help customers navigate complex financial and regulatory issues to create affordable housing, with an emphasis on smart growth and environmental sustainability.

 

MANAGEMENT

Terce Sandifer – Managing Director and Head of Originations

Judy Kong-Cheung – Managing Director, Head of Syndications and Portfolio Management

 

NORTHERN CALIFORNIA AND PACIFIC NORTHWEST MARKETS

Jonathan Klein – Managing Director and Northern California and Pacific Northwest Market Manager

Paul Carney – Director

Bryan Friend – Vice President

Joshua Evju – Vice President

 

SOUTHERN CALIFORNIA MARKET

Johanna Marie Gullick – Managing Director and Southern California Market Manager

Perica Bell – Director

Jessica Mackenzie – Director

Brian Frankel – Vice President

Zennia Datulayta – Assistant Vice President


PORTFOLIO MANAGEMENT

Jeffery Huie – Director

Louie So – Director

Rita Wang – Vice President

Madelein Chua – Vice President 


CO-FOUNDER

James H. Francis – Managing Director

 

MANAGEMENT

Terce Sandifer, Managing Director / Head of Originations

Terce Sandifer serves as Managing Director and Head of Originations, directing all CDF debt and equity originations activity. His experience in community development finance runs the gamut with respect to both products and customers. Since joining CDF in 2002, Terce has arranged financing and syndication of debt and equity in support of customers ranging from large national developers to smaller community-based nonprofits.

Terce began his career at Union Bank in its National Corporate Banking unit. He later completed the bank’s Management Training Program and joined the CDF group. In addition, he has traveled to Japan to participate in a management exchange program with The Bank of Tokyo-Mitsubishi UFJ, Ltd., Union Bank’s parent corporation.

A native of Southern California, Terce earned his bachelor’s degree in Business Administration from the University of Southern California and is a member of the Urban Land Institute.

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Judy Kong-Cheung, Managing Director / Head of Syndications and Portfolio Management

Judy Kong-Cheung serves as Managing Director and Head of Syndications and Portfolio Management of the CDF division, with responsibility for portfolio management, tax credit syndication, and risk management. As COO, Judy oversees compliance, risk assessment and regulatory requirements for the division. She has played a key strategic role in growing the division and developing a Sarbanes-Oxley compliant platform at CDF since joining the bank in 2000. In addition, Judy has participated in an enterprise-wide management exchange program with leaders from the Americas, Asia, and EMEA.

Prior to Union Bank, Judy worked for JPMorgan Chase in Singapore, where she oversaw the bank’s management accounting function for the South and Southeast Asia Region and managed major technology integration projects relating to the Euro conversion and Y2K.

Over the course of her career, Judy has also held managerial positions with Citibank and Wells Fargo. A Certified Public Accountant in California, she holds an MBA from Golden Gate University and a B.A. from San Francisco State University. She is a member of the Affordable Housing Investor Council and serves on the bank’s Community Reinvestment Act Subcommittee.

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NORTHERN CALIFORNIA AND PACIFIC NORTHWEST MARKETS

Jonathan Klein, Managing Director / Northern California and Pacific Northwest Market

Jonathan Klein serves as Managing Director and Northern California and Pacific Northwest market manager. In this position, he oversees all debt and tax credit equity originations in Northern California and the Pacific Northwest. Prior to joining Union Bank in 2008, Jonathan worked for Citibank’s community development group, where he closed financing for affordable developments in California and Washington for a mix of for-profit and non-profit clients.

Jonathan also served on the Board of Directors of the Northern California Community Loan Fund and the Affordable Housing Finance Committee for the County of Contra Costa. He is currently active with the Bay Area Local Initiatives Support Corporation (LISC). He holds a bachelor’s degree from the University of Massachusetts at Amherst and a master’s degree from the John F. Kennedy School of Government at Harvard University.

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 Paul Carney, Director

Paul Carney serves as Director, responsible for originating and underwriting loans and equity investments for affordable housing developments in California. Prior to joining Union Bank, he was at JP Morgan Chase where he originated loans for affordable housing projects. Paul previously worked for the U.S. Department of Housing and Urban Development, where he served as Production Chief for the FHA’s multifamily program in San Francisco. Prior to that, he worked at Devine & Gong, Inc. as an affordable housing finance and development consultant.

Paul holds a bachelor’s degree in communication from Stanford University and a master’s degree in Public Policy from the Harvard Kennedy School.

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Bryan Friend, Vice President

Bryan Friend serves as Vice President, providing debt, equity, and derivative products to the bank’s Pacific Northwest market. He has more than 20 years of experience in the financial industry, working in community development and conventional real estate. Prior to joining Union Bank in 2008, he managed the Community Development team for Bank of America in Seattle. In 2012, Bryan was appointed by the Governor to serve a four-year term on the Washington State Affordable Housing Advisory Board. In addition, he serves on the board of the Downtown Emergency Service Center in Seattle, the largest multi-service agency serving homeless adults in the Puget Sound region of Washington. Bryan holds a bachelor’s degree and an MBA from Indiana University.

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Joshua Evju, Vice President

Joshua Evju serves as Vice President and is responsible for originating construction and permanent loans and tax credit equity investments.

Prior to joining Union Bank in 2015, Joshua served as a vice president and community lending relationship manager with U.S. Bank and has 13 years of industry experience. He holds a bachelor’s degree (cum laude) from the University of California, Irvine and a master’s degree (magna cum laude) from San Francisco State University. Joshua serves as a board member of Rebuilding Together Oakland.

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SOUTHERN CALIFORNIA MARKET

Johanna Marie Gullick, Managing Director / Southern California Market Manager

Johanna Marie Gullick serves as Managing Director and Southern California Market Manager, responsible for overseeing all debt and tax credit equity originations in Southern California. She has more than 25 years of experience promoting and developing affordable housing in the region as a private and public lender and developer. She also has over 35 years of experience as an architect, planner, and general contractor.

Prior to joining Union Bank in 2007, Johanna served as Housing Development Director at Jamboree Housing Corporation, where she was responsible for the development of over 2,800 units of housing throughout California. Previously, Johanna spent 11 years managing the affordable housing loan programs at the City of Santa Monica’s Planning Department and Housing and Redevelopment Division. She also spearheaded the financing and development of over 1,200 affordable rental units with the City of Long Beach’s Housing Services Bureau. Johanna holds a bachelor’s degree from the Southern California Institute of Architecture.

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Perica Bell, Director

Perica Bell serves as Director, responsible for originating and providing debt, LIHTC equity, and interest rate derivative financing to the bank’s Southern California affordable housing developer relationships. Prior to joining Union Bank in 2010, she served as a project manager at Jamboree Housing Corporation, a premier affordable housing developer based in Southern California. In that role, Perica managed all phases of project development, from site acquisition through project stabilization. Prior to her work at Jamboree, Perica worked in government and public affairs for the Orange County Chapter of the Building Industry Association, a non-profit trade association that represents organizations affiliated with the home building industry. She serves on the Board of Directors of Esperanza Community Housing, a non-profit organization that works to achieve comprehensive and long-term community development in the Figueroa Corridor neighborhood of South-Central Los Angeles. In addition, she serves on the Board of Directors for the Kennedy Commission, a non-profit organization dedicated to increasing housing opportunities for Orange County residents.

Perica holds a bachelor’s degree from the University of California, Irvine and a master’s degree in Public Administration and Public Policy with an emphasis in Urban Affairs from California State University Long Beach. She has also completed the basic and advanced Local Initiatives Support Corporation (LISC) Affordable Housing Training Institute in both Development and Finance. 

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Jessica Mackenzie, Director

Jessica Mackenzie serves as a Director, responsible for originating construction and permanent debt, tax credit equity, and interest rate derivative financing for affordable housing developers in Southern California. Prior to joining Union Bank in 2009, Jessica worked in real estate development and as an environmental planner in Los Angeles. In that role, she analyzed affordable and market-rate housing, office, and adaptive reuse developments, and provided guidance on historic building renovations that utilized the historic rehabilitation tax credit.

Jessica holds a master’s degree in Real Estate Development and Urban Planning from the University of Southern California and a bachelor’s degree from University of California, Los Angeles. Jessica is a member of the Southern California Association of Nonprofit Housing, and a LEED Accredited Professional. 

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Brian Frankel, Vice President

Brian Frankel serves as Vice President, responsible for originating debt and equity financing for developers building affordable housing. He completed Union Bank’s commercial loan training program and worked in the real estate group from 1993 to 1997. Brian then worked for a private real estate equity group until 2002, when he rejoined Union Bank and began his career in the CDF division, initially leading the expansion of Union Bank’s equity portfolio. Brian has been an active participant in various affordable housing industry associations and conferences. He received his B.S. in Commerce from Santa Clara University.

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Zennia Datulayta, Assistant Vice President

Zennia Datulayta serves as an Assistant Vice President on the originations team in Southern California. She is responsible for project review and underwriting of construction loans and LIHTC investments. Prior to joining Union Bank in 2012, Zennia served as project manager at the Lantern Organization, a nonprofit developer in New York City where she was a project manager responsible for project development and construction through conversion.

Zennia holds a master’s degree in Planning from the University of Southern California Sol Price School of Public Policy and a bachelor’s degree from the City College of New York in Economics. She is a member of the American Association of Planning.

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PORTFOLIO MANAGEMENT 

Jeffery Huie, Director

Jeffery Huie serves as Director of Portfolio Management of the CDF division. Jeff is primarily responsible for the monitoring, budgeting, and forecasting of the bank’s equity investments in LIHC, assists with equity investment dispositions and sales, and serves as a tax matter expert for the team. Before joining Union Bank in 2012, Jeff was a tax manager at PricewaterhouseCoopers LLP, servicing investment bank, private equity, and small publically traded companies. A CPA in California, Jeff holds a bachelor’s degree in Business Economics from the University of California, Santa Barbara.

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Louie So, Director

Louie So serves as Director of Portfolio Management for CDF, with responsibility for Tax Credit Equity Pricing and investor relations of Union Bank’s sponsored Low Income Housing Tax Credits funds. Prior to Union Bank, Louie was a Manager at Novogradac & Company LLP, where he served clients in the Affordable Housing and Community Development industries utilizing complex tax-advantaged structures. He also has experience with a national real estate owner and operator. Louie earned his B.A. from the University of California, Santa Barbara in Business Economics, and is a Certified Public Accountant (inactive) in the State of California.

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Rita Wang, Vice President

Rita Wang serves as Vice President, responsible for the asset management of the Direct Tax Credit Equity Portfolio. Rita was instrumental in developing the Asset Management Reporting platform, and continuously works to improve this process. Before joining Union Bank in 2007, Rita held positions in external and internal reporting on tax credit investments and portfolio management at PNC MultiFamily Capital. She is a member of the Integratec Investor Central User Group, and earned her Housing Credit Certified Professional (HCCP) designation. Prior to her career in Banking, Rita held account management positions in the software industry. She holds a bachelor’s degree in Economics from the University of California, Berkeley.

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Madelein Chua, Vice President

Madelein Chua, a Certified Public Accountant in California, serves as a Financial Analysis Manager for CDF. She is primarily responsible for providing structure reviews for equity investments in Low Income Housing Tax Credits. She also leads Special Projects and played a key role in the development and implementation of a database used for the management of CDF’s direct and syndicated equity portfolio. Prior to Union Bank, Madelein spent six years with PricewaterhouseCoopers LLP, where she oversaw and executed assurance services as a team leader to clients in Insurance, Banking, and Mutual Funds/Registered Investment Companies. Madelein holds a B.S. in Business Administration - Accounting from the University of San Francisco.

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CO-FOUNDER

James H. Francis, Managing Director

James H. Francis joined Union Bank in 1986 and co-founded the CDF division in 1995. As head of the division, Jim oversaw the origination of more than $3 billion in capital for affordable housing development. He currently leads the Union Bank Consumer Lending group.

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