Municipal Capital Appreciation Partners

Management Team

Richard G. Corey
Managing Partner

Richard G. Corey is Managing Partner of the MCAP Funds. Mr. Corey oversees the sourcing of investments, restructuring of investments and implementing exit strategies. Prior to founding the MCAP Funds, Mr. Corey was a director of private equity funds and a private investor. Previously, Mr. Corey was an investment banker in municipal finance for 15 years. He has broad experience in municipal finance and underwriting, including secondary offerings and the structure and sale of derivative securities.

Mr. Corey received a JD from the University of Pennsylvania Law School, an MA in Administrative Sciences from Yale University and a BA in Economics from Yale University.


Robert N. Jenkins
Executive Vice President

Robert N. Jenkins is Executive Vice President of the MCAP Funds. Mr. Jenkins supervises multifamily acquisitions and dispositions and also oversees Fund marketing and administration. Prior to joining MCAP in 2016, he served as Executive Director at W. P. Carey Inc. and was responsible for the mortgage financing activities in its domestic net-leased portfolio and for hotel acquisition financing in two managed funds. Previously, Mr. Jenkins was a Vice President at MetLife Real Estate Investments, headed the Real Estate Capital Markets Group and served as a senior member of its Real Estate Department. Prior to MetLife, he worked for several real estate firms, including Eastdil Realty in New York and the Trammell Crow Company in Dallas.

Mr. Jenkins received an MBA from the Columbia University Graduate School of Business and a BA from Colorado College.


Brendan W. Phalen
Senior Vice President

Brendan W. Phalen is Senior Vice President of the MCAP Funds. Mr. Phalen supervises the sourcing of, and refinancing of, senior living communities. Prior to joining MCAP in 2015, he was a Vice President of Acquisitions for American Realty Capital Healthcare Trust (REIT). Previously, Mr. Phalen was a partner in Renaissance Senior Communities, a seniors housing owner. Prior to that, Mr. Phalen held senior positions at various firms, focusing on senior housing investing, including Smith Barney and Ancora Management.

Mr. Phalen received an MBA in Finance from St. John’s University and a BA in Accounting from Westminster College.


Kevin I. Thompson
Vice President

Kevin I. Thompson is Vice President of the MCAP Funds. Mr. Thompson is responsible for investment due diligence, asset management of the multifamily properties and financial modeling of multifamily and affordable housing properties. He joined MCAP in 2010.

Mr. Thompson received an MBA from the Columbia University Graduate School of Business, an MMS (Master of Management Studies) from the Duke University Fuqua School of Business and a BS in Economics from Duke University.


Nicholas J. Herbig
Vice President

Nicholas J. Herbig is Vice President of the MCAP Funds. Mr. Herbig is responsible for investment due diligence efforts in senior living communities and assists in financing and refinancing of portfolio properties. Prior to joining MCAP in 2014, he was a Mortgage Underwriter at American Internet Mortgage, Inc.

Mr. Herbig received an MBA and a BA in Business Administration from Point Loma Nazarene University.


Jorge D. Rodriguez
Acquisitions Associate

Jorge D. Rodriguez is an Acquisitions Associate of the MCAP Funds. Mr. Rodriguez assists Mr. Brendan Phalen in the sourcing of new senior living acquisitions. Prior to joining MCAP in 2017, he was with various real estate firms focused on acquisitions.

Mr. Rodriguez received an MS in Real Estate Development from New York University at the Schack Institute of Real Estate and a BA in Economics from Villanova University.


Joseph A. Irving
Senior Director

Joseph A. Irving is Senior Director of the MCAP Funds. Mr. Irving is responsible for managing operations of our senior living communities outside of Virginia. He has overseen the management of the Regency at Glen Cove, an MCAP bond investment, since 2007. In addition, he has overseen the management of the Saybrook at Haddam since 2009 and the Landing at Willow Grove since 2014. Mr. Irving joined MCAP in 2012. He has over 30 years of experience in senior housing. Previously, Mr. Irving founded Senior Housing Solutions LLC, a management and consulting firm dedicated to developing, managing, and marketing assisted living facilities in 2003. Prior to that, he was Vice President of Residential Services at Loretto, central New York’s largest provider of services for seniors. 

Mr. Irving received a BA in Sociology and Gerontology from St. John Fisher College.


Jay K. Johnson
Chief Financial Officer

Jay K. Johnson is Chief Financial Officer of the MCAP Funds. Mr. Johnson supervises accounting and financial reporting functions. Prior to joining MCAP in 2003, he was Vice President, Finance for real estate opportunity funds at J.E. Robert Companies. Mr. Johnson was a tax accountant for Arthur Andersen & Co. from 1989 to 1992. He has extensive experience in real estate fund accounting, portfolio performance reporting, cash flow modeling and cash management.

Mr. Johnson received an MS in Public Accounting from the University of Hartford and a BA in Government from Wesleyan University.


Louis E. Winthal
Accounting Manager

Louis E. Winthal is an Accounting Manager of the MCAP Funds. Prior to joining MCAP in 2005, Mr. Winthal was a Senior Tax Associate in the real estate tax practice of PricewaterhouseCoopers LLP.

Mr. Winthal received a BBA in Public Accounting, Summa Cum Laude from Pace University’s Lubin School of Business.


Mathew Samuel
Accounting Manager

Mathew Samuel is an Accounting Manager of the MCAP Funds. Prior to joining MCAP in 2008, Mr. Samuel was a Senior Accountant at New York Life where he worked on real estate mezzanine financing.

Mr. Samuel received a BA in Accounting and Information Systems from Queens College and is a CPA.


Hande Tuney
Director, Investor Relations

Hande Tuney is Director of Investor Relations for the MCAP Funds. Ms. Tuney supervises investor relations and joined MCAP in 2016. Previously, Ms. Tuney served as the Vice President of Investor Relations at Centerline Capital Group, an alternative asset manager focused on real estate funds and financing, and at a REIT, externally managed by Centerline. Prior to joining Centerline, she was an Associate of Investor Relations at AIG and joined AIG through its Prestigious Management Associate Program for college graduates.

Ms. Tuney serves on the Board of Directors of Sustainable Harvest International. She received an MS in Management Systems from New York University and a BBA in Finance from Pace University.


Alicia C. Swain
Executive Assistant to Managing Partner

Alicia C. Swain is an Executive Assistant of the MCAP Funds. Ms. Swain provides administrative support to the MCAP Funds and its Managing Partner. Prior to joining MCAP in 2016, she was an Executive Assistant at Matrix Advisors, LLC. Ms. Swain also has experience in personal assisting, operations management, educational services, directing social media, and business and philanthropic event planning.

Ms. Swain received a BA from Southern Methodist University.


Jordon Villines
Executive Assistant

Jordon Villines is an Executive Assistant of the MCAP Funds. Ms. Villines provides office, project and administrative support. Prior to joining MCAP in 2014, she was an Administrative Assistant at Warburg Pincus, LLC.

Ms. Villines received a BA in Theatre-Performance and Psychology from Southern Illinois University Edwardsville.