Freddie Mac on Wednesday introduced that firm veteran Peter Lillestolen will function vice chairman, manufacturing and gross sales of Focused Inexpensive Housing (TAH) at Freddie Mac Multifamily.
Lillestolen, a 12-year veteran of the government-sponsored enterprise (GSE), has labored in multifamily in a number of completely different roles. He started his profession there as an analyst within the Capital Markets division, later serving in varied management roles on the manufacturing workforce. Most lately, Lillestolen led the Low Earnings Housing Tax Credit score (LIHTC) Fairness and Seniors Housing companies whereas additionally co-leading TAH.
In between stints at Freddie Mac, Lillestolen additionally served on the Nationwide Rural Utilities Cooperative Finance Company and Strategic Schooling, Inc. in analyst, securities and treasurer roles, respectively.
“Peter is a robust, progressive chief, prepared to satisfy the challenges of Multifamily’s mission-critical companies,” mentioned Steve Johnson, senior vice chairman for multifamily manufacturing and gross sales, in an announcement. “Peter has a confirmed skill to make strategic, forward-looking choices and to satisfy and anticipate the evolving wants of the reasonably priced market. We’re grateful for his regular management and his drive and fervour for Multifamily.”
The corporate describes Lillestolen’s management as “instrumental in serving to Freddie Mac exceed its reasonably priced housing targets in 2022,” each within the core retail enterprise and low-income housing areas. He was named a 2023 Rising Star by HousingWire in recognition of that management.
When requested as a Rising Star in regards to the traits which have helped him to succeed, Lillestolen attributed the belief of excellent religion as a key difference-maker.
“All the time assume constructive intent,” he mentioned. “This contains treating others with respect and conserving an open thoughts. One quote I proceed to level to that clearly illustrates the significance of treating folks with respect and doing issues proper: ‘It’s all the time sunny on the ethical excessive floor.’”
Lillestolen earned a Grasp of Skilled Research in Actual Property Finance from Georgetown College, in addition to a Grasp of Science in Finance from Johns Hopkins College. He earned his bachelor’s diploma in finance from James Madison College.