Tom Rini is a member of Frontier Renewal’s Board of Advisors since 2010. He has enjoyed an extensive career in real estate investing and urban development with concentration in the low income housing sector and provides Frontier Renewal with strategic direction to the selection of real estate investment properties.
Mr Rini founded Apollo Housing Capital (“Apollo”) in Cleveland, Ohio in 1997, and served as its Chief Executive Officer and President until March, 2006 when he sold Apollo to The Royal Bank of Canada.
As a start -up venture, Apollo was formed with Mr. Rini’s vision of providing housing choices for urban low income residents. From its inception, Apollo focused on housing development utilizing the federal low income housing tax credit while concentrating on deep urban infill locations in key markets of Chicago, Los Angeles, Washington DC, Philadelphia, Boston and Phoenix. Under Mr. Rini’s direction, Apollo sponsored over $1.5 billion in private equity investments in partnerships with institutional investors such as Fannie Mae, Citicorp, Bank of America, Aegon Insurance, Nationwide Insurance and several California based banks. Upon sale to The Royal Bank of Canada in 2006, Apollo’s investments comprised 325 low-income apartment properties, over 24,000 rental units in 32 states with approximate market value of $3.0 billion
The redevelopment of Cabrini Green (Chicago, Illinois) into new urban housing stands out as evidence of Apollo’s ability create urban housing choice where public policy previously failed. In the 1990′s , Cabrini Green provided poor public housing for over 15,000 people. Apollo invested $18.0 million in equity and formed a development partnership with a Chicago based company to build 261 new units known as North Town Village. This project sparked significant redevelopment of the entire neighborhood.
Prior to starting Apollo, Mr Rini held senior banking positions for Mc Donald & Company Securities,and in 1991, started their investment banking function in housing capital markets. During the 1980′s, he practiced as a Certified Public Accountant with Deloitte,Haskins & Sells. He received a MBA from Case Western Reserve University (1980), and a BBA from The University of Michigan (1977). Mr. Rini attended The University of San Diego undergraduate school from 1973 to 1975.
Currently, and beginning in 2011, Mr. Rini is managing a private family office capital pool focused on real estate and energy infrastructure investments. To date, these investments have included natural gas pipeline infrastructure, real estate investments in New York’s Times Square and Seattle as well as a position in a national real estate asset management company acquired from Grubb & Ellis.