Baltimore State of the Market

Mark Caplan, is a Baltimore native active in real estate investment and management as well as equipment and vehicle financing in the region. He is the President and CEO of The Time Group, a real estate equity firm where he has worked since the mid-1970s. The Time Group has interests in approximately 7,500 units of multi-family, manufactured housing, and senior living. He is also a founder and is currently the Chairman of WPM Real Estate Management, a manager of multi- family properties as well as other property types currently comprising in excess of 23,000 units. In addition to his real estate activities, Mr. Caplan is Chairman of the Management Committee of Madison Capital, an independent vehicle and equipment financing firm. Mr. Caplan is a member of the Board of Directors at Capital Bank, (NASDAQ, CBNK). Mr. Caplan is active in the non- for-profit community in Baltimore, having served or currently serving on the Boards of The Walters Art Museum, Downtown Partnership of Baltimore, The Bryn Mawr School, The Enoch Pratt Free Library, The Gilman School, Center Stage, B.E.S.T., Charles Street Development Corp., Real Estate Advisory Board of Columbia Business School, and St. Ignatius Loyola Academy. Mr. Caplan graduated from Gilman School in 1976 and Johns Hopkins University in 1981 where he received his Bachelor of Arts degree in Social & Behavioral Sciences. He received his Master of Business Administration from the Columbia Business School in 1983, which he attended as a Dean’s Fellow.

Mr. Poverni’s expertise encompasses structuring and managing of the development life cycle, from project feasibility studies, to site control, financing, syndication, construction management, asset stabilization and disposition. Mr. Poverni founded the firm in 2011 and continues to be the driving force behinds its growth, and is thankful for the talented people that work at PSG to help make its’ projects and business lines a success day-in and day-out. Mr. Poverni holds a J.D. from the George Washington University, and an M.B.A from the University of Maryland.

Mark Anthony Thomas is President & CEO of the Greater Baltimore Committee (GBC), the leading voice of the private sector in the Baltimore Region. In his three-year tenure, Mark has repositioned GBC as the region’s business-civic engine—uniting more than 300 partners behind the first 10-Year Economic Opportunity Plan, building a stronger platform for business investment and innovation, advancing strategies to tackle vacant housing and public safety, introducing Bold Moves, the region’s first unified economic brand, and integrating UpSurge Baltimore, BLocal, and the Economic Alliance of Greater Baltimore into the GBC.

Jeremy Watson is Senior Vice President and Chief Real Estate Officer at Baltimore Development Corporation (BDC). He is a real estate development and infrastructure leader with over 15 years of experience delivering complex, large-scale projects across the public and private sectors. His work spans residential, commercial, mixed-use, and infrastructure development, with a particular focus on adaptive reuse, urban infill, transit-oriented development, and projects that require close coordination between public agencies and private capital. Jeremy has led development programs and transactions across the full project lifecycle—from early feasibility, underwriting, and capital structuring through entitlements, design, financing, and delivery. He brings deep expertise in financial analysis and risk management, having underwritten and executed institutional-quality investments and prepared investment cases that inform capital allocation decisions. His experience includes structuring and managing public-private partnerships, negotiating commercial and development agreements, and aligning diverse stakeholder interests to move complex projects forward. Most recently, Jeremy served as Principal of Watson Cohen, a privately-owned real estate development and asset management firm, where he led strategy, design, and development. Previously, Jeremy served as Senior Manager of JFK Infrastructure & Strategy, where he managed cross-functional workstreams, advised executive leadership, and helped mitigate material commercial and delivery risk for JetBlue Airway’s $4.2 billion, 1.2 million SF terminal redevelopment at JFK International Airport. Prior to that he worked for PGIM Real Estate in both New York and London across their institutional equity, mezzanine debt, and impact investing platforms. His background also includes significant public-sector experience for Arlington County, Virginia, where he oversaw a portfolio of major transportation infrastructure projects. Jeremy holds an MBA from Harvard Business School, a Master of Urban & Regional Planning from Virginia Tech, and a Bachelor of Science in Civil Engineering from the University of Florida. He is a licensed Professional Engineer and a former member of American Institute of Certified Planners (AICP), bringing a rare combination of technical rigor, financial discipline, and development perspective to every project.

Cheryl Washington is the President and Chief Executive Officer for East Baltimore Development, Inc. (EBDI), which is the non-profit 501(c)(3) organization charged with overseeing the $1.8 billion revitalization of an 88- acre portion of East Baltimore adjacent to the Johns Hopkins medical campus. EBDI was established in 2002 by the Mayor and Baltimore City Council with the mission of positively transforming a targeted East Baltimore neighborhood by creating new and enhanced economic, housing, employment, business and human development opportunities for current and future residents. As President and CEO, Ms. Washington provides the vision and leadership necessary to implement the master plan for this large mixed-used and mixed-income community revitalization effort. Ms. Washington has been with EBDI since 2004 and has provided leadership on every aspect of the organization by always keeping the core values of community engagement, economic inclusion, and responsible redevelopment at the forefront of every decision. Harnessing the strength and power of this public-private partnership, Ms. Washington prides her leadership style as being collaborative, inclusive, and solution-oriented. In addition to overseeing the administrative, financial and operational functions of the organization, Ms. Washington serves as the lead negotiator in real estate development transactions and sets the programmatic and policy agenda for EBDI’s human and community services work. During her tenure, EBDI was the 2020 recipient of the Greater Baltimore Committee’s 2020 Bridging the Gap Achievement Award in Diversity in Leadership. Prior to her current appointment, Ms. Washington was the Chief Operating Officer at EBDI and had the primary responsibility of advising the President & CEO and other key members of the executive and senior management team on operational, administrative, human resources, internal and external communications, economic inclusion and workforce development. She served as the management liaison to the Board of Directors and the various Board committees and served as Corporate Secretary. In addition, she served as grants manager and liaison to funders and other stakeholders regarding grant applications, reporting, payments, and other matters that may arise; as well as the liaison to external stakeholders regarding communications, marketing and branding strategies and the planning of all events to be held in the EBDI project area. Ms. Washington also managed economic inclusion and workforce development programming, policy development, and compliance monitoring. Under her leadership, EBDI has exceeded its goals related to local and minority business contracting and local hiring. Moreover, EBDI’s economic inclusion and workforce development model has been commended by Congressman Cummings as setting the pace for inclusion across the country and has been emulated by other redevelopment projects and jurisdictions. Prior to EBDI, Ms. Washington was the Executive Director of Aunt Hattie’s Place, Inc., a residential leadership program for boys in foster care that her mother, Dr. Hattie Washington, founded. She received her Juris Doctor from the University of Maryland Francis King Carey School of Law in 1996 and was admitted to the Maryland State Bar later that same year. She graduated magna cum laude from Norfolk State University with a Bachelor of Science degree in Mass Communications. Ms. Washington currently serves on the Board of Trustees for the East Baltimore Community School and the Advisory Board of Fulton Bank, National Association. From 2011 through 2014, she was a Mayoral appointed member of the Governing Board for Baltimore City Head Start and served as Secretary and Chairof the Board during her tenure. Previous board service was with Outward Bound and Girl Scouts of Central Maryland. In 2013, Ms. Washington was honored to be a recipient of the Daily Record’s Top 100 Women of the Year Award. Ms. Washington was a member of the Class of 2000 Greater Baltimore Committee LEADERSHIP program and the Class of 2003 of Leadership Maryland. Ms. Washington has been a proud member of Delta Sigma Theta Sorority, Inc. since 1992.

Leading the development team at Charm City Buyers, Khalil is responsible for project selection, financial modeling, strategic focus, organizational capacity, partnership advancement, and community engagement. His expertise in residential development seamlessly transitions to the organization's role as the lead developer at Eager Landing, a $20M new construction homeownership development in East Baltimore consisting of 54 townhouses. By creating new affordable and market rate single family homes, he is creating opportunities for wealth generation. Khalil is a developer at 211 W 28th Street, a new 62 unit mixed- use building + 13,000 SF public plaza with amenities for residents, families, cafe/retail patrons, pets, and the community at large. The new building responds to the neighborhood's demand for new affordable and market rate housing units. Previously, Khalil was a lead developer at Henderson Crossing, a $18M homeownership development consisting of 53 historic rehab units located in East Baltimore and The Packing House, a $24M adaptive reuse and historic preservation project involving higher education, emerging industries, and the investment community. Khalil has rehabilitated vacant and blighted properties for residential resale since 2012. His extensive knowledge of tax credits, subsidies, and other sources allows for a high quality, low cost product to market rate and affordable home buyers. Khalil is a father, husband, and former captain of the Men's NCAA Division 1 track and field team at Lehigh University. He continues to oversee a rental portfolio located in Baltimore, MD.

Dana Blackwood is the Business Manager for Turner Construction Company’s Maryland business unit, where she leads business operations, strategic growth initiatives, and community engagement efforts. With over 17 years of experience across preconstruction, business development, and project management, she has supported the delivery of complex projects spanning healthcare, higher education, manufacturing, K-12 education, and critical data facilities markets across the region. She is actively engaged with the Greater Baltimore Committee (GBC), Maryland Tech Council, Maryland Washington Minority Companies Association (MWMCA), Associated General Contractors (AGC), and Associated Builders and Contractors (ABC) of Greater Baltimore, among other industry groups. Dana holds a B.A. in General Engineering and an MBA from Johns Hopkins University.

Matthew Rothstein is a partner in Citrin Cooperman’s Owings Mills office. He offers a creative advisor approach to his clients in order to maximize business value and personal wealth by providing business advisory and sophisticated tax planning for businesses and high net worth families. Matt has more than 15 years of experience, allowing him to be involved in all areas of client service, including business and personal strategic tax planning, succession, estate and gift planning, choice of entity, mergers, acquisitions, and interactions with government agencies on tax related matters. He has experience in a variety of industries, including commercial and residential real estate, construction, technology, automotive, government, and distribution, as well as high net worth families.