Brandt Blanken


Brandt has been in the tax credit business since 1992.  Over that time, he has developed extensive knowledge regarding the financial, operational, accounting, tax, and legal aspects of affordable housing and other tax incentive investments and has developed a long list of industry and institutional contacts.  Brandt graduated from George Washington University with a Bachelor of Business Administration in Finance, holds Series 7, 24, 79, 63 and 99 securities licenses and is a principal of Fallbrook Capital Securities, our broker/dealer affiliate.


Craig Sheftell

Chief Executive officer

Craig has been responsible for billions of dollars of LIHTC equity investments, in addition to other tax credits, since 1987.  Craig has also advised various state agencies, Fortune 500 companies, banks and insurance companies in regards to structuring their tax incentive programs or investments and has helped finance investments that include state and federal subsidies in the areas of alternative energy, historic preservation and the entertainment industry.  Accordingly, Craig has built one of the most successful tax equity practices in the country and is recognized as an expert in the industry.   Craig graduated from University of South Florida with a Bachelor of Arts in Communications and holds Series 7, 79 and 63 securities licenses with Fallbrook Capital Securities, our broker/dealer affiliate.


Josh Lederer

vice president

Josh has structured and monetized over $500 million dollars of state tax credit investments in more than 20 states over the past decade.  He has an extensive in-depth understanding of every transferable tax credit program currently offered. Josh’s ability to provide investors with an efficient, straight-forward investment process has made him a leader in the marketplace. He has helped numerous clients, including dozens of Fortune 1000 companies, save millions of dollars through tax based investments.  Josh graduated from the University of California, Santa Cruz with a Bachelor of Arts in Global Economics and holds Series 7, 24, 79, 63 and 99 securities licenses and is a principal of Fallbrook Capital Securities, our broker/dealer affiliate, and also has real estate and soccer coaching licenses.


Gil Mizrahi

general counsel

Gil joined Fallbrook in 2013 and provides a detailed approach to deal structuring with a keen focus on the implementation of client goals and strategies.  Gil works to protect Fallbrook’s clients by assisting them in identifying and assessing potential liabilities and crafting creative solutions without compromising client objectives.  Gil has counseled a wide array of clients ranging from Fortune 1000 companies to small businesses and individuals.  Gil graduated from the University of California, Santa Cruz with a Bachelor of Arts in Linguistics and Southwestern Law School with a Juris Doctorate.


Justin Gordon

managing director of tax credit investments

Justin has over 15 years of professional financial experience of which the last 4 have been with Fallbrook.  Since joining Fallbrook, Justin has helped structure, finance and monetize over $100 million of state and federal tax based investments in over 20 states.  He works closely with many Fortune 500 and Fortune 1000 companies to help provide them with substantial savings through tax based investments. Justin completed his undergraduate work from the Warrington College of Business at the University of Florida with a Bachelor of Science in Marketing and received his Masters of Business Administration in Finance from the Graziadio School of Business at Pepperdine University. Justin holds Series 7 and 63 securities licenses with Fallbrook Capital Securities, our broker/dealer affiliate, as well as life and health insurance licenses.

Christian Albacarys

managing director of capital markets

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Christian is responsible for sourcing, structuring and financing real estate projects. Christian has originated hundreds of millions of dollars of tax credit equity for projects across the United States, Puerto Rico and Saipan.  In addition, he has secured over $25 million of predevelopment funds.  Christian works with multi-family affordable housing developers and borrowers to help structure and secure property financing.  Christian graduated from Florida State University with a Bachelor’s of Science in Finance and holds Series 22 and 63 securities licenses with Fallbrook Capital Securities, our broker/dealer affiliate.


JEff JErdin

managing director of tax credit investments

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Jeff has spent nearly 20 years providing tax credit consulting services to Fortune 500 companies, with much of that time in leadership roles at Big 4 CPA firms.  With Fallbrook, he is responsible for bringing tax credit equity and facilitating the transfer of state credits for projects in a variety of industries, including low-income housing, renewable energy, historic preservation, and film production. Jeff earned a Bachelor of Science in Accountancy from Fresno State University. He is a California licensed CPA and a member of the California Society of CPA’s. Jeff holds Series 7 and 66 securities licenses with Fallbrook Capital Securities, our broker/dealer affiliate.

Wendy Ellen

treasurer and controller

Wendy is our Chief Operating Officer and manages and oversees Accounting, Human Resources and Administration. Wendy brings 27 years of financial operations, insurance, investment and management experience, having founded and run a successful Business Management company, Investment and Insurance Management firm and has worked with Fallbrook for over 15 years. Ms. Ellen holds Series 7,24, 63 and 99 securities licenses, is a Principal and Compliance Officer at Fallbrook Capital Securities, our broker/dealer affiliate and is also a Notary Public.  



marc cohen

managing director of tax credit investments

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Marc has closed over $450 million in tax-equity supporting over $1.5 billion of real estate development over the last 13 years specializing in federally subsidized and other tax motivated investments. Prior to joining Fallbrook, Marc was a Principal at Absolute Tax Credit Investments, a national Historic Tax Credit (HTC) syndicator and served as their Director of Acquisitions.  At CohnReznick, Marc spent ten years specializing in structuring tax advantaged real estate transactions. Marc's areas of concentration include the Historic Tax Credit, the Low-Income Housing Tax Credit, the 1602 Program for Low-Income Housing and tax planning and consulting for high net-worth individuals. His affiliations include the Institute for Professional and Executive Development, Historic Tax Credit Coalition, Urban Land Institute, District of Columbia Building Industry Association and the Council of Development Finance Agencies. Marc holds a Bachelor of Science in Accounting from the University of Delaware.

Vitor faroni

director of tax credit investments

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Vitor has sourced over $300 million in financing opportunities for Fallbrook since joining in 2016. Prior to joining Fallbrook, Vitor worked in wealth management at Merrill Lynch and conducted market research for Gerber Kawasaki Wealth and Investment Management. Vitor helps developers with debt financing for their tax credit subsidized real estate projects and helps structure and manage tax credit equity. Vitor graduated from the University of California at Berkeley with a Bachelor of Arts in Political Economy and holds Series 22 and 63 securities licenses.


Rose Eaton

managing director of asset management and due diligence

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With over 25 years of experience, Rose has been responsible for due diligence, development, acquisition, credit analysis, management, workout and disposition of more than $1.5 billion of assets for not-for-profit, public and private companies. Rose is also the chief credit officer for tax credit investments made on behalf of Fallbrook's clients. She began her career in real estate focusing on commercial real estate lending and asset management. Throughout the last 15 years, Rose's career has been focused on affordable housing, both state and federal low-income housing tax credits and historic tax credits. She has developed investment, asset management, loan servicing, credit risk and disposition protocols for several firms. During her time in private law practice she represented both purchasers and sellers through all facets of real estate acquisition, development and disposition. Rose graduated from Montana State University with a Bachelor's of Science in communication and Gonzaga University School of Law with a Juris Doctorate. Lastly, she is an active participant of Blue Star Mothers of America, a not-for-profit organization made up of mothers of active duty members from five branches of military.

Ryan songerath

director of underwriting and analysis

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Ryan Songerath has analyzed over $900 million of financing vehicles deployed in affordable housing projects including bridge and predevelopment loans, the purchase of LP interests in LIHTC partnerships, and the purchase of bonds backed by LIHTC properties. With his comprehensive knowledge of Section 42 regulations and the HUD MAP Guide, Mr. Songerath adds crucial skills to the Fallbrook underwriting and credit team, helping to efficiently allocate capital and maximize structured benefits to our clients. Mr. Songerath graduated from California State University, Los Angeles with a Bachelor's and Master's Degree in Economics.

daniela santos

director of due diligence and closings

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Daniela Santos joined Fallbrook in 2013, bringing several years of administrative experience to the team. As director of due diligence and closings, Ms. Santos oversees and streamlines the closing and due diligence processes for Fallbrook's acquisitions team, continually adding value and creating efficiencies for other departments. In addition, Ms. Santos processes 4% tax-exempt bond and 9% LIHTC applications for our LIHTC motivated clients. Ms. Santos also assists our Asset Management Department and is responsible for compiling project-level compliance data and operating results as frequently as monthly, and the timely delivery of accurate comprehensive quarterly and annual financial reports to our fund investor clients. Ms. Santos analyzes acquired properties and recommends relevant risk ratings for our funds' various Watch Lists, lists she maintains and updates regularly. Daniela graduated from US Santa Cruz with a Bachelor of Arts in Global Economics.

melissa padgett

director of business development

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Melissa Padgett joined Fallbrook in 2016 as an administrative assistant where she spent most of her time in compliance, account, and client relations. Miss Padgett has just joined the sales team as Director of Business Development where she will provide continued administrative support to the Tax Credit Sales Team, as well as continually researching tax credit programs and conversing with state tax credit offices to ensure that Fallbrook remains at the forefront of the industry. Melissa graduated from California State University, Fullerton with a Bachelor of Arts in Communications.