NEW YORK–(COMMERCIAL THREAD) – Berkadia today announced that it has expanded its affordable housing capabilities with the addition of a tax credit syndication and advisory platform. This team of specialist experts comes from Riverside Capital, in which Berkadia invested in 2018. The integration will provide clients with access to Berkadia Affordable Housing’s already strong team and add tax credit syndication services, advancing the goal of providing developer clients with access to fully integrated solutions. for all of their affordable housing capital needs.
“This expansion not only gives Berkadia the opportunity to consolidate our leadership position in affordable housing, but it allows us to dig even deeper and better serve a specialized niche of diligently working developers and investors. to meet affordable housing needs across the country, ”said Justin Wheeler, CEO of Berkadia. “Riverside has a strong track record of providing investment solutions to leading development companies in the affordable housing sector. This additional capacity will therefore benefit Berkadia and Riverside customers, especially as we pursue an aggressive growth strategy in the affordable housing market. ”
Since starting the collaboration with Riverside in 2018, Berkadia has expanded its capabilities in the affordable space with the strategic hiring of mortgage bankers and investment advisors across the country, in addition to tax credit placement through Riverside. as well as conventional joint venture private equity solutions. .
“According to the April NLIHC report, there are 11 million very low income renter households and only 4 million affordable and available units, leaving a shortage of 7 million units,” Sebastian said. Corradino, former President and CEO of Riverside and current Senior CEO of the Affordable Housing team at Berkadia. “As Berkadia, we will continue to partner with investors and developers to close the affordable housing gap, fulfilling the business objective of doing good with the social imperative of doing good. Our entire team is incredibly delighted to be part of the Berkadia affordable housing platform. ”
“Riverside’s former Acquisitions, Investor Relations and Asset Management teams will continue to provide the exceptional and personalized level of service our clients have come to expect while also giving them access to new opportunities offered by the network. Berkadia, ”Corradino said.
In 2018, Berkadia’s loan origination volume exceeded $ 26 billion while its investment sales platform totaled more than $ 8 billion.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, providing a solid suite of services to our multi-family and commercial clients. Through our integrated platform of mortgage banking, investment sales and services, Berkadia offers complete real estate solutions for the entire life cycle of our clients’ assets.
To learn more about Berkadia, please visit www.berkadia.com.
© 2019 Berkadia Commercial Mortgage LLC
Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Proprietary Holding LLC
Banking and commercial mortgage services activities are carried out exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc.
Investment sales and real estate brokerage activities are carried out exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc.
The tax credit syndication activity is carried out exclusively by Berkadia Affordable Tax Credit Solutions.
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