Manhattan, NY M&T Realty Capital Corp., (M&T RCC), has appointed Sean Cullen as affordable housing platform manager and David Bonomo as managing director, multifamily originations in the New Jersey, and New York City offices.
Cullen will be responsible for overseeing affordable housing production, managing our relationship with numerous capital sources and continuing to expand the affordable team.
Cullen has more than 27 years of experience in multifamily and affordable housing finance. He joined M&T RCC in 2021 as a managing director and was responsible for originating affordable housing and multifamily loans across the U.S. Previously, Cullen was a managing director of affordable housing originations at Lument, formerly Red Capital Group, where he was charged with establishing a New York City presence for the brand. Prior to this, Cullen held analytical, bond underwriting and production roles at several financial institutions, including Moody’s, RBC Capital Markets, and Barings Multifamily Capital amongst others.
Cullen holds a Bachelor of Science in Business Administration from Villanova University and a Master of Business Administration from Manhattan College. He also received a diploma from New York University’s School of Continuing Studies in Credit Analysis.
Cullen will report to Michael Edelman, president M&T Realty Capital and his role is effective immediately.
Bonomo has over 30 years of diversified capital markets and transactional experience with a core concentration in affordable housing. He joins M&T RCC from The Related Companies (Related), where he was a senior advisor to the president of Related Affordable, focusing on portfolio management, derivative products, and other secondary market interest rate/risk management issues. Prior to Related, Bonomo spent more than seven years with Lument and its legacy companies as both a senior vice president and director of multifamily originations. At Lument, Bonomo originated, structured, and closed multifamily affordable and market rate agency (FHA, Fannie Mae, Freddie Mac, USDA) loans, balance sheet bridge loans and tax-exempt bond transactions on a nationwide basis, with a primary focus in the northeast and mid-Atlantic regions.
Bonomo was the chief financial officer of the New Jersey Housing & Mortgage Finance Agency (NJHMFA) in Trenton, from 2010 through 2015. As CFO, he presided over a $4 billion balance sheet and managed NJHMFA’s capital markets and finance divisions. He designed, developed, and managed NJHMFA’s Conduit Bond Program, executed the operational turnaround cited by Standard & Poor’s in support of two critical ratings upgrades, and managed the rehabilitation of more than $200 million of distressed affordable projects.
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