Joseph L. Sherman is the President and co-founder of The Reliant Group. He is the co-owner and founder of Reliant Group Management and Reliant Property Management. Mr. Sherman directs capital formation and acquisitions, employing a hands-on approach with each investment to ensure successful execution. He specializesRead More
Mr. Sherman began his career as a real estate attorney in Washington, D.C., representing affordable and market rate multifamily housing developers nationwide. Mr. Sherman’s primary practice area was affordable housing, particularly in conjunction with HUD Section 8 rental assistance and FHA financing. He also developed an expertise in alternative energy and energy efficiency, representing utilities and entrepreneurs, as well as writing several publications on solar energy, alternative energy, and energy conservation for the U.S. Department of Energy.
In 1985, Mr. Sherman joined Oxford Development Company, the country’s second largest developer of multifamily housing, to develop bond-financed mixed-income properties. During Mr. Sherman’s tenure, Oxford was the single largest developer user of tax-exempt financing for affordable multifamily properties in the United States. While at Oxford, Mr. Sherman honed his skills in underwriting, finance, and placement of tax-exempt bonds, backed by multifamily assets.
Mr. Sherman founded The Reliant Group in 1992, to serve as a general partner in a partnership with The Resolution Trust Corporation, as part of a national effort to resolve the nation’s savings and loan crisis. Over the next five years, The Reliant Group acquired over $750 MM of sub performing and non-performing loans with the RTC, earning national recognition as one of the best performing partners in RTC’s joint venture programs. An additional $550 MM of distressed assets were acquired from private sellers. In 2001, Mr. Sherman shifted The Reliant Group’s focus to the acquisition and development of bond-financed affordable housing, launching the CAP series of investment funds. Since 2001, the CAP series of discretionary funds have invested over $500 MM of equity in over $2 billion of multifamily assets, including senior housing, student housing, market-rate housing, and affordable housing. Over 22,000 units of housing have been acquired and/or developed by Reliant Group Management, including over 50 LIHTC communities in a dozen states.
Mr. Sherman served as Chairman of the Real Estate Capital Recovery Association and as Executive Director and President of Equality Community Housing Corporation, a nonprofit owner of affordable housing. He currently serves as President of Rainbow Housing Assistance Corporation (Rainbow), a nonprofit owner of low- and moderate-income housing, which he founded in 2002. Rainbow currently serves over 100 low-income communities nationwide, meeting the needs of a diverse low-income tenant population with a variety of programs which stimulate neighborhood revitalization and help residents achieve self sufficiency. Mr. Sherman is also President of the Board of Texas Council of Foundation for Social Resources, a nonprofit owner of over 20 LIHTC communities. He was a founder and trustee of The Bay School, a science and technology high school, located in San Francisco, serving for over 10 years. He is currently on the Board of Trustees of San Francisco Jazz, the first free-standing jazz concert venue in the U.S. He has been a guest lecturer on housing issues at Harvard and UC Berkeley.
Mr. Sherman earned his BA from Bowdoin College magna cum laude and his JD from Georgetown University Law Center. He resides in San Francisco.