meet OUR TEAM
We are a team of expert problem solvers committed to finding better funding for our clients. Our personal approach allows us to find unique solutions, and our small size allows us to be nimble. Founded in 2017, PLG is led by career financial and commercial real estate professionals and has established itself as a leading direct PACE lender nationwide. Experience the PLG advantage.
Chief Executive Officer
Rafi is a commercial real estate finance veteran with over 15 years of experience in CRE structured finance, loan origination and equity investments. Prior to founding PLG, Rafi spent his career on Wall Street where he was a Managing Director at Ladder Capital, a publicly traded REIT. At Ladder, Rafi focused on CMBS origination, balance sheet and mezzanine loans as well as equity investments. Prior to Ladder, Rafi worked at Gramercy Capital conducting asset management and loan workouts. Rafi began his career at Credit Suisse in its large loan commercial real estate group. Throughout his career, Rafi has originated and closed over $2.5 billion of commercial real estate loans throughout the country. Rafi has a BS from Ithaca College in Ithaca, New York.
Chief Operating Officer
Bali joined PLG in 2021 as the Chief Operating Officer. Prior to joining PLG, he served as the CEO of Lean & Green Michigan, the PACE program in Michigan, and developed the Michigan PACE program into one of the nation's strongest PACE programs. His experience also includes serving as a management consultant at Deloitte, a transactional attorney at Proskauer, and the Executive Director of Michigan’s Wayne County Land Bank. Bali graduated with a B.A. from Brown University, a M.Sc. from the London School of Economics, and a J.D. from Berkeley Law. He is a member of the NY and CA bar.
Chief Financial Officer
Jesse joined PLG in 2017 as the Chief Financial Officer. He manages and oversees the financial risks, planning, and reporting of the company. With over 10 years of experience, Jesse has spent the majority of his career in public accounting at local and regional firms working primarily with real estate developers and investors on strategic planning and compliance. Since 2015, in his role as CFO of a real estate developer, Jesse has been involved in closing loans totaling more than $90 million. Jesse graduated from the University of Saint Thomas (MN) with a Bachelor of Arts degree in Financial Management and Accounting and is a Certified Public Accountant.
Head of Underwriting
Angela Ledding joined PLG in 2021 as a Managing Director. Angela has over 15 years of experience in commercial real estate lending, having financed CRE projects with manufacturers, retailers, builders, developers, and multifamily property owners. Angela’s experience includes progressively senior underwriting and portfolio management roles at four different regional banks. Angela graduated at the top of her class at both Bemidji State University and Madison Graduate School of Banking.
Otis Duffy joined PLG in 2022 as a Vice President of Originations. Otis has over 20 years of experience in commercial real estate, placing debt & equity (mortgage, mezz, CPACE, etc.) as well as on the transactional side. Otis holds a Real Estate Brokers license in New York, New Jersey & Florida.
Prior to joining PLG, Otis cut his teeth in commercial real estate working at Marcus & Millichap and eventually started his own Brokerage based in New York City. He holds a B.A from Centenary College.
Jerry Ellis joined PLG in 2022 as a Managing Director. He brings over 25 years of experience spanning commercial real estate asset classes, taking part in more than $7 billion in transactions.
Previously, Jerry held senior positions with Petros Pace Finance, and Barclays Capital. He was on the executive team of a private investment firm and held senior banking positions with institutional real estate lenders including Morgan Stanley and Merrill Lynch. In addition, Jerry served as the Chief Credit Officer of a $3 billion private bank, and is the founder of Dillon Real Estate Capital, a boutique advisory firm. He holds a BA from the University of Notre Dame.
Michael Jarmolowich ("Jarmo") joined PLG in 2021 as a Managing Director. Jarmo has over 20 years of experience in finance. Prior to joining PLG, Jarmo was a Managing Director at Stifel Financial Corp., where he focused on the C-PACE market and other areas of sustainable real estate finance. His experience also includes progressively senior experience at Lehman Brothers, Credit Suisse, Deutsche Bank, and Hilltop/Southwest Securities. Jarmo holds a B.A. from the University of Maryland, College Park, an M.B.A. from Fairleigh Dickinson University, and currently holds Series 7 and 63 licenses from FINRA. He is also a former NFL player.
Kris Jones joined PLG in 2021 as a Vice President, Originations. Kris has over 18 years of experience in commercial and multifamily real estate, both placing debt (mortgage and mezzanine) and equity. Prior to joining PLG, Jones was a Senior Director at Ten-X, a Vice President of Real Estate at RealCrowd, and an Investment Partner with Palmer Capital. Jones holds a B.A. from the University of San Diego, an M.A. from George Washington University, and holds a California Real Estate Broker's license.
Matthew joined PLG in 2018 as an Analyst and Junior Originator. As Vice President, he is responsible for loan origination, loan underwriting, and portfolio monitoring. Prior to joining PLG, Matthew completed similar duties while working in US Bank’s Commercial Real Estate and Real Estate Structured Finance Groups. At US Bank, Matthew was responsible for property and borrower underwriting for warehouse lines, construction loans, and balance sheet refi’s across all asset classes. Matthew is a graduate of Saint John’s University (MN) with a Bachelor of Arts in Economics.
Kris McKay joined PLG in 2022 as a Senior Vice President of Originations. Kris has over 20 years of experience in CRE finance originating and placing C-PACE, CMBS, Bank, Bridge, Agency, HUD, SBA, and USDA mandates. Prior to PLG, Kris was a Director at Eyzenberg & Company where he focused on commercial mortgage loans, mezzanine, and equity packages on multifamily, office, retail, and hotel investments. Kris has also held origination and structured finance positions at leading firms such as Petros PACE Finance, Xerion Financial, Northmarq Capital, and Deerwood Real Estate Capital (subsequently acquired by Walker & Dunlop in 2017). Over the course of his career, Kris has been involved in over $800 million of CRE capital markets transactions. Kris is a graduate of Mount Saint Mary's College and holds an M.B.A. in Finance and Real Estate from American University.
Ed Wlodarczyk joined PLG in 2022 as a Vice President. Ed has over 30 years of experience in corporate and real estate finance. Prior to joining PLG, Ed was a Vice President of Dividend Finance, where he focused on the C-PACE market and sustainable real estate finance. His experience also includes senior executive roles at Ten-X, Cushman Wakefield, Transwestern, and Coldwell Banker Commercial. His experience covers structured finance solutions, portfolio/asset management, consulting, and investment banking/capital markets. Ed attended Loyola University, Chicago and majored in business and communications disciplines.
Sunny joined PACE Loan Group in 2021 as an Underwriting Analyst where he is responsible for loan underwriting and assisting with portfolio monitoring. Prior to joining PLG, Sunny has held various roles, both in the finance industry as an investment banking analyst, and as a pricing analyst. Sunny began his career as an investment banking analyst at Bonanza in Mumbai, India. Sunny received his Bachelor’s Degree in Mechanical Engineering from Mumbai University, and his Master’s Degree in Engineering Management from the University of South Carolina.
Kyle joined PACE Loan Group in 2022 as an Analyst where she is responsible for loan underwriting and assisting with loan sizing. Prior to joining PLG, Kyle held several roles, one in software sales and the other in banking. At her previous role, Kyle underwrote within the commercial lending and warehouse lending space. Kyle received her Bachelor’s Degree in Finance at the University of Minnesota.
Director of Accounting
Dan joined PLG in 2020 as a Controller. Prior to joining PLG, Dan worked for Ryan Companies, a national real estate developer, with a focus on forecasting, project funding, and compliance for office, multifamily, and industrial projects. He began his career in public accounting with Baker Tilly, working primarily with real estate developers on tax consulting and compliance. Dan is a certified public accountant (inactive) and holds a BS in Accounting from the University of Northwestern – St Paul. He is also a finance board member for Twin Cities Church, and outside of work enjoys hiking and spending time outdoors exploring the north woods of Minnesota with his wife and two children.
Rid joined PLG in 2022 as a Controller. Prior to joining PLG, Rid worked for United Skin Specialists, a Private Equity backed dermatology practice acquisition company providing a wide range of management services to a variety of well-established physicians and practices. He began his career in Real Estate and Property Management with The Ackerberg Group, working primarily on financial reporting, budgeting, forecasting and draws in collaboration with property managers and real estate developers. Rid holds a BS in Accounting from Metropolitan State University (MN) and a BS in Business Management from the Association of Business Executives (ABE-UK)..
Elisha joined PLG in 2021 as Staff Accountant. Elisha is responsible for loan servicing and accounts payable/receivable. Elisha has worked in a variety of accounting roles across industries, including the construction industry. Elisha has an Associate's Degree in Accounting from Normandale Community College and is working toward her BA in Accounting at Metropolitan State University.
Laura joined PLG in 2021 as Marketing Manager. She is responsible for marketing campaigns and strategy, brand awareness, and public relations. Prior to working with PLG, Laura developed campaigns and executed events for a digital marketing agency in Minneapolis. Previously, Laura led brand strategy and marketing initiatives for a pre-eminent New England architecture firm. She holds a BA from Wesleyan University in Middletown, CT.
Doug joined PLG in 2017 as a Marketing Specialist. In 2014, Doug began working as Brokerage and Marketing Coordinator at Hempel Companies. At PLG, Doug is responsible for creating and coordinating all marketing materials. Prior to 2014, Doug worked at a political consulting and public affairs firm in St. Paul, MN. Doug is a licensed Real Estate Salesperson and is a graduate of Saint John’s University (MN).
Executive Administrative Specialist
Kiera joined PLG in 2022 as the Executive Administrative Specialist, supporting the senior leadership team at PLG. Prior to PLG, Kiera has held Executive Assistant, Business Operations, and Marketing roles across a variety of industries. Kiera graduated from the University of Minnesota with a BA in Psychology and Spanish in 2018.