Phil AftuckDirector of Investments The Bernstein Companies
Phil’s primary responsibility at The Bernstein Companies is to oversee the acquisition and development of office to market-rate multifamily conversion opportunities nationally, specifically projects utilizing tax credit equity and alternative sources. Phil joined The Bernstein Companies in 2012 and since then, has created and implemented the firm’s state tax credit platform, which under his leadership has sourced, underwrote, and monetized over $350 million in national tax credit equity for developments. As the tax credit platform flourished, Phil successfully integrated it with the firm’s real-estate pedigree and in 2016, acquired Metro II, a 330,000 square-foot, historic, office building in Hyattsville, Maryland, a burgeoning suburb just outside of Washington, DC. Under his leadership, Metro II was successfully converted into The Highline, a 338-unit apartment building which is now fully stabilized and is a recipient of the project’s historic tax credit equity investor, J.P Morgan’s “Deal of the Year”' award in 2019. Phil continues to grow the firm’s adaptive reuse portfolio which now includes over 1,700 existing or under-development apartments equating to approximately 1.8 million square feet spanning from the Mid-Atlantic to the Midwest. In addition to adaptive reuse opportunities, Phil plays an active role within the firm’s capital markets strategy and outside investor fundraising efforts. He also has experience with hospitality acquisitions and ground up multifamily developments.