Meet Our New Advisory Board!


We are excited to announce the members of our new Advisory Board, a group with deep experience in the various fields of real estate that support a healthy neighborhood.  The Advisory Board will advise our team on existing work, and provide guidance as Shift continues to move forward.

Read below to learn more:


Hugh Frater | Shift Capital

Hugh R. Frater, serves as Non-Executive Chairman of the Board of VEREIT, Inc. (NYSE: VER), one of the nation’s largest owners of retail space, and as a director of ABR Reinsurance Capital Holdings Ltd, a de novo reinsurer jointly owned by BlackRock, Inc. and The Chubb Companies. Hugh was previously Chairman and CEO of Berkadia Commercial Mortgage LLC (“Berkadia”), a commercial real estate company jointly owned by Berkshire Hathaway and Leucadia National which provides comprehensive capital solutions, investment sales advisory and research services for multifamily and commercial properties. Previously, he was an Executive Vice President at PNC Financial Services, where he led the real estate division and was responsible for all real estate lending, loan servicing and affordable housing. Prior to joining PNC, Hugh was a Founding Partner and Managing Director of BlackRock, Inc. where he served on the Management Committee and led the real estate division. He has an AB from Dartmouth College and a MBA from Columbia University Graduate School of Business. He serves on the Real Estate Advisory Board at the Columbia University Graduate School of Business and is also a member of its Board of Overseers.

Hugh is a member of the Board of Directors of Fannie Mae. He is a member of the Audit Committee, Risk Policy and Capital Committee and the Access to Credit and Affordable Housing Working Group.


Ken Bacon | Railfield Realty Partners

Ken Bacon, is co-founder and managing partner of Railfield Realty Partners, an investment management firm that invests in apartments on behalf of institutional investors and family offices. He started Railfield after retiring from Fannie Mae, where he was Executive Vice President for the multifamily business. In this role, Ken was responsible for a $195 billion portfolio, which included senior debt, mezzanine loans, tax credits and equity. Prior to joining Fannie Mae, he served as Director of Securitization at the Resolution Trust Corporation, and as an officer of Morgan Stanley. In addition to his duties at Railfield, Ken serves as a director of Comcast, Ally Financial, Forest City Realty Trust and Welltower. A former trustee of Stanford University, he is also a member of various advisory boards at the school including the Stanford Center on Longevity. He has a BA from Stanford, a M.Sc. from the London School of Economics where he studied as a Marshall Scholar, and a MBA from the Harvard Graduate School of Business.


Laura Callanan |Upstart Co-Lab

Laura served as senior deputy chair of the National Endowment for the Arts before launching Upstart Co-Lab in 2015. Upstart Co-Lab connects artists, impact investors and social entrepreneurs to create opportunities for artist innovators to deliver social impact at scale. Upstart is introducing a Creativity Lens to impact investing. Laura was editor of the Federal Reserve Bank of San Francisco’s 2015 issue of the Community Development Review on creative placemaking, a Visiting Scholar to the American Academy in Rome, recipient of a Rockefeller Foundation Bellagio Fellowship, and past Scholar in Residence at UC Berkeley Haas School of Business.

As a consultant with McKinsey & Company’s Social Sector Office, Laura led work on social innovation, sustainable capitalism, and social impact assessment. She served as senior adviser at the United Nations Development Program, executive director of the Prospect Hill Foundation, associate director at the Rockefeller Foundation, and associate treasurer for the Wallace Foundation. She is chair of the board of GlobalGiving.

Laura has a BA from Barnard College and a MPA from the Columbia University School of International and Public Affairs.


Cheryl Croxton | Fannie Mae

Cheryl Croxton serves as vice president for Fannie Mae, a government-sponsored enterprise that supports liquidity and stability in the secondary mortgage market. In her current role since 2010, Cheryl serves in the Single Family Business division focused on servicing issues.   She is responsible for retention, default, and liquidation oversight for loan portfolios managed by lenders that Fannie Mae has approved to service single-family mortgage loans, including Fannie Mae’s special asset & reverse mortgage business partners.  She focuses on solutions for partners who support borrowers continuing to struggle with mortgage delinquencies.

During her 24-year tenure at Fannie Mae, Cheryl has served in a variety of leadership positions, including as vice president of customer account risk management, where she was responsible for credit-risk management and counterparty risk management supporting single family business lenders in the Central and East regions of the country.  She also served as managing director for Housing & Community Development, where she was responsible for 10 community development outreach offices in the Northeast, Puerto Rico and the Virgin Islands.  She worked with state & local representatives, housing advocates, non-profit developers, and financial intermediaries to deliver better housing options for under-privileged communities.  Cheryl began her career at Fannie Mae as counsel advising business teams on general corporate, mortgage finance and community lending matters.

Cheryl holds a BA from Mount Holyoke College and a JD from Columbia University School of Law.  Prior to joining Fannie Mae, she practiced at the law firm of Dechert in Philadelphia & served on the staff of the late Congressman Thomas Foglietta (PA – 1st).

She is a native Philadelphian who grew up in the Nicetown/Tioga section of the City and lives with her family in Chestnut Hill.


Dave Henry | Peacable Street Capital

David B. Henry is the retired Vice-Chairman and CEO of Kimco Realty Corporation, a NYSE REIT that is North America’s largest publicly traded owner and operator of open-air shopping centers. As of September 30, 2016 the company owned interests in 534 shopping centers comprising 86 million square feet of leasable space across 35 states and Puerto Rico. Before joining Kimco Realty, Dave was Senior Vice President & Chief Investment Officer at GE Capital Real Estate. He spent 23 years with the company and was responsible for pension advisory activities and investment policies and strategies in the U. S. and international markets.

He was also chairman of the Investment Committee and a member of the Credit Committee. Mr. Henry graduated from Bucknell University with a BS in Business Administration, and received a MBA from the University of Miami. He currently serves on the boards of HCP, Inc. (NYSE: HCP), VEREIT (NYSE:VER), Tanger Factory Outlet Centers (NYSE:SKT), Columbia Property Trust (NYSE: CXP) and Fairfield County Bank, a Connecticut mutual savings bank.

Dave is the Co-Founder and Chairman of Peaceable Street Capital. Mr. Henry is a past trustee and served as 2011-2012 Chairman of ICSC (International Council of Shopping Centers), and was a former Vice-Chairman of the Board of Governors of NAREIT (National Association of Real Estate Investment trusts) and a former member of the Execu4ve Board of the Real Estate Roundtable. He also currently serves on the real estate advisory boards of New York University, Baruch College, and ALTO Real Estate Fund


Pete Crovo | Prologis

Pete Crovo is a Senior Vice President, Investment Officer for Prologis, the world’s leading owner, operator and developer of logistics real estate. Pete’s primary focus is on urban infill real estate and is responsible for the Value Added Business in the East Region that consists of Value Add Acquisitions, Value Add Conversions, Value Add Development/Redevelopment and Value Add Environmental. Pete was the Market Officer for the NJ/NY Region managing a Portfolio of 35 million SF and then was the Market Officer for South Florida with a Portfolio of 15 million SF.

Prior to joining Prologis, he was an acquisition officer for Seagis Property Group, a dedicated owner and operator of industrial properties on the eastern seaboard. Pete has been recognized in NJBIZ’s “Real Estate Power 50” as 50 of the most influential people in New Jersey’s real estate industry. Additionally, Pete has served as an advisor for Rutgers Business School’s Center for Real Estate and is a member of the National Association of Industrial and Office Properties (NAIOP) and Urban Land Institute (ULI). He holds a BS in Finance from the College of New Jersey.