WASHINGTON D.C. – December 20, 2021 – Berkadia has surpassed $3 billion in total Affordable loan production in 2021 with the recent closing of a $96.5 million Fannie Mae loan for a 569-unit multifamily property in Alexandria, Virginia on behalf of Lincoln Avenue Capital. 2021 will be Berkadia’s strongest year in Affordable lending following a record-setting year in 2020, when the organization topped $1.48 billion in Affordable finance transactions.
“After the tremendous growth of the Affordable platform in 2020, we were well-positioned heading into 2021. We had big goals focused on technical expertise, product diversification, and exceptional client service and execution,” said David Leopold, Senior Vice President and Head of Affordable Housing at Berkadia. “I am thrilled to mark this important milestone with a fantastic team and outstanding clients, who are meeting our collective mission to strengthen communities by creating Affordable housing opportunities for families across the nation.”
Leopold added, “Our expert team takes a solution-oriented mindset to advise clients through every step of the financing process, and the unique challenges that often accompany Affordable housing transactions.”
The team has worked consistently with both the GSEs and private lending partners to secure financing for 216 Affordable housing communities across the country this year, including notable transactions:
- Goodlette Arms in Naples, Florida
- Davidson’s Landing in Kansas City, Kansas
- Intrada Westside, Atlanta, Georgia
- Hope on Broadway & Hope on Hyde Park in Los Angeles, California
In addition to a record-breaking year on the financing side, Berkadia Affordable Housing has had incredible success in investment sales and LIHTC syndication making 2021 a milestone year for the entire platform.