Chevy Chase, MD – April 26, 2022 – Berkadia announced today the continued expansion of its Affordable Housing platform with the addition of Managing Director Jay Abeywardena to its mortgage banking team. Abeywardena has more than 15 years of experience providing financing expertise to developers specializing in the construction and preservation of affordable housing. In the past eight years he has closed over $4.6 billion in loans across 229 projects totaling 29,700 units nationwide.
“Adding Jay to our team increases the breadth of knowledge and technical expertise in all aspects of Affordable mortgage banking,” said David Leopold, SVP and Head of Berkadia Affordable Housing. “We’re thrilled to expand our team and West Coast presence with his best-in-class experience.”
Prior to joining Berkadia, Abeywardena spent his career at Citi Community Capital (CCC) and since 2014 has served as Originating Banker and Director of the CCC Project Finance Team in Southern California. In this role, Jay was responsible for originating both tax-exempt and taxable loans for construction and permanent financing using Citi, Fannie Mae, and Freddie Mac products as well as various other structured lending products. His expertise includes 4% & 9% Low Income Housing Tax Credit (LIHTC) programs, tax-exempt and taxable bond issuance, subordinate debt, Section 8, tax abatements and other Affordable rental housing programs.