Standard Communities Beefs Up Affordable Housing Division With Industry Vet
Standard Communities, the affordable housing division of Standard Companies, has named Matt Sislen as its new managing director of East Coast production, based in the firm’s Washington, D.C., office.
In his new role, Sislen will be responsible for growing the firm’s portfolio of multifamily assets on the East Coast, with a focus on the Mid-Atlantic region.
“The people of Standard are incredibly sharp, experienced and creative and the company is a significant participant in a mission-oriented business that comports with my business and personal aspirations,” Sislen told Commercial Observer. “I’m looking forward to working with a talented group of people acting as a prudent investor focused on affordable housing, imaginatively applying public and private resources to improve the lives of residents from both a capital and operating standpoint.”
The company currently owns more than 1,700 units of affordable housing in Maryland, Virginia and D.C.
“Standard has been highly successful since inception and my goal is to participate in sustaining that success by expanding the portfolio in D.C., Maryland, Virginia, Texas, Tennessee and New York,” Sislen said.
Looking at the state of affordable housing since the pandemic, he noted that the needs of at-risk families and seniors are as significant now as they were pre-COVID.
“The disproportionate health and economic impact of this virus on individuals and families of low and moderate incomes is well documented,” Sislen said. “We will continue to fulfill our responsibility to provide a safe and healthy environment for our residents in any COVID scenario moving forward.”
Previously, Sislen worked as a principal of Audubon Enterprises, an affordable housing advisory firm in the D.C. area, where he successfully secured more than $1 billion in funding to create and preserve more 3,500 affordable housing units.
He also served as vice president and CFO of Dantes Partners, a leading D.C. affordable housing developer, was manager of acquisitions and finance at East of the River Community Development Corp. in D.C., and was an associate at the Reznick Group.
“Matt combines significant affordable housing transaction experience with creativity, and we are thrilled to have Matt as part of the Standard team,” Scott Alter, Standard’s co-founder and principal, said in a statement.