As a follow-up to last June’s seminar on the fundamentals of real estate investment analysis, CREW’s Design and Development Committee is hosting a Real Estate Finance seminar on the nuts and bolts of the Capital Stack.

This seminar aims to teach the audience the basics of real estate finance: how a development project is capitalized between debt and equity, and how debt and equity partners assess deals. The panel will represent the perspectives of the developer and debt and equity partners. The developer will present a potential deal as an investment opportunity. Representatives of Debt and Equity will explain how they typically evaluate deals with their underwriting metrics. The seminar will include real life project examples and cover macro trends across US geographies and over time.

Light snacks and refreshments will be served. 
 
PANELISTS: 
Adelaide Grady is a Senior Vice President & Partner at Leggat McCall Properties that brings more than two decades of commercial real estate development experience to the industry, executing on more than $1 billion+ in multifamily ground-up development and $2 billion+ in pipeline entitlements in the Boston market. Her innovations in improving permitting processes and identifying investment opportunities in the ESG and public-private partnership realm have enabled at-risk projects to succeed in even the most challenging markets.  Having begun her career in the building science and sustainability space, Addie brings technical expertise as an early adopter of advanced sustainability approaches in housing production to enable cost-efficient and effective lifecycle carbon reduction.  She brings the same pioneering mindset and commitment to the Boston area’s largest scale projects to deliver excellence in design and construction and more importantly housing equity across the socioeconomic spectrum.  She is a Legacy LEED AP and holds an M.B.A. from the University of Michigan and an A.B in Architectural Studies, Russian Language and Literature from Brown University.

Shelly Gouin is an Officer of Debt Capital Markets at TA Realty, a real estate private equity firm.  Prior to joining TA Realty in 2022, Shelly worked in commercial real estate lending for 17 years at various institutions, including Wells Fargo, PNC Bank, Sun Life, and Webster Bank.  She is a current board member of Habitat for Humanity Greater Boston and current board member (and past president) of CREW Boston. 
 
Jennifer Keller is a Senior Vice President and Head of Debt Capital Markets for GID, a vertically-integrated real estate developer, investor and operator with over $30 B in AUM (as of Q3 2025). She is responsible for building capital relationships and overseeing the firm’s financing strategies and activities across GID’s various multifamily, commercial and credit portfolios. Before joining GID in 2021, Jennifer worked at JLL (formerly HFF) as a Managing Director. Throughout the course of her 18 years of experience in the origination and execution of financing and equity, she has been involved in more than $20 billion of commercial real estate transactions. Prior to JLL, Jennifer worked as an analyst for Cushman & Wakefield in Toronto and graduated from McMaster University with a Bachelor of Commerce.


 

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