THE TEAM
Stephen M. Wasserman - Over his business career Steve Wasserman has been involved in virtually every aspect of real estate. A Certified Public Accountant and graduate of the University of Illinois (Urbana), he came to the real estate industry after serving as an auditor and tax accountant for PricewaterhouseCoopers (then Price Waterhouse & Co.) and having completed one of the country’s most rigorous and prestigious corporate management development programs at Illinois Bell (now AT&T).
He later served as Executive Vice President/Controller of the real estate division of a Wheelabrator/Frye, a then NYSE company, where he was responsible for a multi-family development and property management company with approximately 50,000 apartment units and a significant number of commercial properties under management. During the REIT crisis of the mid-to-late 1970’s Steve was an officer of First Wisconsin National Bank (now US BANK), where he managed a diverse multi-hundred million dollar (1970’s dollars) “work-out” portfolio of troubled real estate and loans. As a bank officer he was directly involved in borrower negotiations, bank swaps, construction completion, asset and property management, and virtually every other real estate/banking related activity on properties throughout the U.S.
He moved from Denver to Atlanta to finalize the Bank’s asset completion and disposition process in the Southeast and remained with the Bank until late 1977, when he formed The Wasserman Group, Inc. (TWG). It is a specialist in government financed programs and has completed numerous tax-exempt bond transactions as a consultant and fee developer.
In addition to asset and property management (including contracted development relationships with MGIC and AMBAC), over its 40+ year existence
TWG developed offices (award winning), apartments, condominiums (award winning), and single-family houses nationally. In recent years TWG has concentrated on tax credit housing and other affordable housing. Steve is a founder of two not-for-profit housing companies whose missions are the acquisition and long-term preservation of affordable housing nationally – Affordable Housing America, Inc. and American Covenant Senior Housing Foundation, Inc.
Over his career Steve has been the developer, owner, consultant, and/or asset or property manager of over 8,500 multi-family units and single-family homes nationally.
Peter H. Wasserman - Peter has been involved in the development, construction, brokerage, and asset management of multifamily real estate since 2002.
Between 2002 and 2005 Peter managed approximately $65mm in new construction tax exempt bond transactions as a fee-based developer with TWG.
During the development of these projects Peter formed two §501(c)(3)’s that would be utilized as future sponsors of similar transactions.
In 2005 Peter switched his focus to the acquisition/rehab (or “preservation”) of aged USDA Section 515 (formerly “Farmers Home”) and other rural properties. Between 2005 and 2010 Peter was involved with fifteen LIHTC transactions all of which received either 9% LIHTC awards or some other form of subsidized funding.
Following the credit debacle of 2008, in 2009 Peter shifted his focus to growing the non-profit organizations he co-created and managed. Since 2009 these organizations grew sizable portfolios with properties geographically scattered across the country. Peter's experience in financings include a variety of diverse capital stacks which include a combination of tax credits, HUD/USDA debt, tax- exempt bonds, and soft money/grants.
Prior to entering the real estate industry Peter spent five years with the Atlanta Symphony Orchestra as Pro- gram Coordinator for the Chastain Park Amphitheater and the Symphony Hall “Super POPS!” concert series. During this time, he produced over 200 live concert events (ranging from pop acts such as Hootie and the Blowfish to classical performances featuring the Atlanta Symphony Orchestra).
Peter is a graduate of Georgia State University with a degree in Economics.
David E. Wasserman - Since 2010 David has been involved in the development, construction and asset management of low and moderate-income multifamily real estate as well as multiple low income housing tax credit (“LIHTC”), HUD/USDA-financed, unenhanced affordable housing and Affordable Housing Program and Federal Home Loan Bank transactions.
David is the Executive Director of Social Housing, Inc, a Georgia nonprofit organization recognized by the IRS as a 501(c)(3) organization under the Code with the charitable purpose of owning and operating affordable multifamily housing. and asset managed a portfolio of 14 affordable multifamily properties for both Social Housing as well as Affordable Housing America, Inc. (“AHA”), another Georgia based non-profit affordable housing owner and developer. Since 2009, AHA and Social Housing have acquired and ultimately disposed of 16 multifamily properties containing approximately 900 units. These properties were financed with combinations of low income housing tax credits, HUD/USDA debt, tax-exempt bonds, and soft money or grants. As Chairman and Executive Director of the Sole Member, Mr. Wasserman oversees the day to day operations of the Sole Member and acts as a point of contact to the wide net of industry players who participate in the Sole Member’s operational activity. Mr. Wasserman is a graduate of Hunter College.
Frank "Kel" Bowers - Kel brings years of commercial real estate development to the team. He has personally managed the acquisition, design, entitlement, construction, and operation of various development projects throughout the Southeastern United States. As a licensed real estate sales person (Georgia and Alabama), Kel's primary focus is identifying new sites and overseeing the predevelopment and the ultimate construction process on behalf of the TWG team.
Kel retired in 2017 from the US Army where he served as a Reception Battalion Senior Drill Sergeant. He and his family reside in Columbus, Georgia.