Press Releases
June 9, 2021


— Industry vet to lead underwriting and risk management from Boston office —

R4 Capital, a nationwide syndicator, lender, loan servicer, and asset manager, welcomes Paul Bernardin as Executive Vice President of R4 Capital, Chief Credit Officer, and Director of Underwriting. Mr. Bernardin will oversee the investment underwriting and risk management functions across the company’s LIHTC equity and tax-exempt debt businesses. As Director of Underwriting, he will work closely with staff and the firm’s Investment Committee to oversee the due diligence of all proposed investments, including construction, environmental, and insurance risk management. He will be based in the Boston office.

Mr. Bernardin brings 30 years of experience in real estate underwriting, asset management, development, finance, and market research. “Paul is an industry veteran with a comprehensive background in assessing the investment risk and feasibility of affordable housing assets,” notes Marc Schnitzer, President and CEO of R4 Capital. “We are elated to welcome Paul to our team, and are confident our investors will view Paul as a forthright and highly competent risk manager.”

Prior to joining R4, Mr. Bernardin spent 11 years as a senior executive at Boston Capital, most recently as Senior Vice President and Director of Underwriting, during which time he underwrote and approved more than $1.9 billion in affordable housing investments and was a voting member of the firm’s Investment Committee. Earlier, as Vice President and Assistant Director of Asset Management at Boston Capital, he managed a team of 23 real estate professionals and a portfolio of 950 properties representing $6 billion in affordable housing investments.  Prior to that, Mr. Bernardin served as a Vice President at JPI where he underwrote more than $1 billion in acquisition and development production, and negotiated and closed sale transactions valued at more than $600 million.  Mr. Bernardin holds a B.S. in Finance from the Carroll School of Management at Boston College.

Mr. Bernardin will succeed Brian Blue as Director of Underwriting. R4 wishes Mr. Blue continued success after ten years of tireless work assuring R4’s portfolio is strong and well-positioned for future growth.