Development Leadership Team

Owner/Chief Executive Officer

Robert (Bob) Margolis has more than 35 years of real estate development and property management experience. He holds a master’s degree in Business Administration from American University and a bachelor’s degree in Real Estate and Construction Management from the University of Denver.  

Bob has been involved in the ownership, as general partner, in the development and preservation of over 100 HUD and USDA-Rural Development subsidized housing projects (over 7000 units).

Adam Stockmaster
President of Development

Adam Stockmaster has over 20 years of experience in the real estate industry. He has held leadership positions within housing organizations, given presentations as a subject matter expert in rental housing financing, and received accolades in recognition of his work in the industry.

Adam has been very successful in LIHTC financing, receiving over 100 awards of from many State Housing Finance Agencies for properties located in Maryland, New York, Pennsylvania, Virginia, West Virginia, Delaware, North Carolina and Washington, D.C.

Adam holds a bachelor’s degree in Finance and a minor in Economics from American University.

Ari Severe
Executive Vice President of Operations

Ari Severe has been with TM Associates for over 20 years and responsibilities include underwriting, financial application submission, lobbying, and Governmental Regulations.

Ari has a wealth of experience in real estate, having worked his way up from Staff Accountant to Junior Development Officer to his current position and having previously worked at Gateway Management. He is an expert in both new construction and rehabilitation projects and has worked with USDA-RD, HUD, LIHTC, and FHLB programs.

Ari holds a bachelor’s degree in Accounting and Finance from University of Maryland and was a Certified Public Accountant.

Amy Brown
Chief Financial Officer

Amy Brown is responsible for all aspects of development and owner accounting at TM Associates. She works diligently with staff members to ensure owners, state agencies, investors and lenders are provided timely and accurate reporting related to the performance of each property.

Amy has over 25 years of affordable housing and real estate accounting experience in public accounting, property management and real estate development. She earned her bachelor’s degree of Accounting from Capital University, is a licensed Certified Public Accountant, holds the CGMA designation, is a member of the American Institute of Certified and one of the founding members of Chief in the Baltimore/DC area.

Tim Barila
Executive Vice President & Chief Construction Officer

Tim Barila joined TM Associates in January of 2018 and is well-versed in contract negotiation involving development teams of architects, engineers, and general contractors. He is also familiar with a multitude of financing programs used to develop and refinance projects including conventional loans, Federal and State agency loan programs, syndication using Section 42 tax credits, GSE loan programs, participating lender loans, mezzanine debt, and tax-exempt bonds.

Tim has over 25 years of executive experience, including similar roles at Severn Companies and the Humphrey Companies. He has successfully developed over 30 projects including new construction and acquisition/rehabilitation as market rate and affordable housing communities. Additionally, he has refinanced over 20 projects using a variety of financing programs and was responsible for all activities involved with loan closings.

Tim holds a bachelor’s degree in Business Management from James Madison University and an MBA in Real Estate and Urban Development from American University.

Neil Mutreja
Senior Vice President

Neil Mutreja is responsible for the management of projects for real estate development specializing in acquisitions, renovations, and new construction of affordable housing communities. He oversees project performance and efficiency with extensive due diligence towards Investors/Syndicators, construction lenders, and various State Housing Agencies.

Neil has worked at TM Associates for over 16 years and has experience acting as liaison between private and governmental organizations and marshaling resources to ensure project completion within specific program, time, and budget specifications. Neil also has a strong background in finance modeling and strategic planning, and is particularly interested in Business Development within affordable housing.

Neil holds a bachelor’s degree in Economics from University of Maryland and has worked throughout the Mid-Atlantic region with a wide range of programs and agencies, including HUD, USDA-RD, Freddie Mac, LIHTC, VHDA, WVDHF, DHCD, and FHLB.