Affordable Housing

The Value of Community

As the call for affordable housing increases, so does the complexity and competition across the market. Berkadia Affordable Housing brings a balance of drive, versatility and focus that comes only from deep experience in local, state, and federal regulatory and financing environments.

Partnering with Berkadia Affordable Housing comes with our promise to provide clear and steady guidance from start to finish. Whether you’re looking to preserve and enhance existing affordable homes or create beautiful new properties, we look forward to partnering with you on this vital mission.

Integrated Investment Solutions

Affordable Housing

Mortgage Banking

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Affordable Housing

Investment Sales

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Affordable Housing

Tax Credit Syndication

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Please join us at

Texas Housing Conference

Austin, TX
July 24-26

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Track Record

2023 was another record-setting year for Berkadia Affordable Housing. We were ranked the #1 GSE and HUD Affordable Housing Lender by Volume.
GSE and HUD Affordable Housing Lender by Volume in 2023
Fannie Mae and
HUD Lending
Fannie Mae Multifamily and HUD Multifamily Affordable Housing Lender in 2023
Low Income
Freddie Mac Multifamily Low-Income and Very Low-Income Housing Lender in 2023
in LIHTC equity syndicated since 2018
Investment Sales
in investment sales transactions in
2022 and 2023

Featured Investment Opportunities

Carpenter’s Square

430 S Broadway
Gloucester City, NJ 08030

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The Terraces Apartments Townhomes

40 & 50 Mount Zion Rd
Atlanta, GA 30354

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Lincoln Terrace

25 E 5th Ave
Denver, CO 80203

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Forest Park & Silver Springs

Austin, TX 78753

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Brookstone Apartments

10 Murrah Road Ext
North Augusta, SC 29860

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La Habra

656 AZ-80
Benson, AZ 85602

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Access the latest market-driven insights, research and news from Berkadia.


Englewood Senior, Atlanta, GA | Financed by Berkadia 2024

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Rising Insurance Costs Impacting Affordable Housing Development and Preservation Effort

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Affordability Expires for 300,000 Units, Exacerbating Housing Shortage in the U.S.

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HUD Implements New Cap on 2024 Income Limits 

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“There’s no greater need in the marketplace, and no more important mission for our partners, than strengthening communities by creating affordable housing opportunities for families across the nation.”

David Leopold
Senior Vice President &
Head of Affordable Housing

Featured Recent Transactions

Investment Sales

Lakeside Gardens Senior Apartments

820 Martin Luther King Jr Pkwy
Durham, NC 27713


Grove at Cary Park Apartments

4545 Cary Glen Blvd
Cary, NC 27519


The Park at Ridgedale

5001 Ridgedale Pkwy
Richmond, VA 23234


Herrington Mill

1564 Herrington Rd
Lawrenceville, GA 30043



Academy at Waterford Lakes

Hollywood, FL

228 units


Gateway Plaza

Oxnard, CA

105 units


Covington Square

Covington, GA

113 units


Sorrento Tower

San Diego, CA

198 units



Park Station Lofts

Chicago, IL

58 units


Vincent Village

Greeley, CO

72 units


Rehoboth Place Apartments II

Wyoming, MI

66 units


Client Stories

Credit facility executions allow borrowers to arrange flexible financing terms for a portfolio of properties on a cross-collateralized and cross-defaulted basis, with property addition, property release, property substitution, and borrow-up capabilities for all asset classes. Kairos Investment Management Company and Berkadia secured a $175 million credit facility backed by Fannie Mae.

We recently partnered with Freddie Mac and Spira Equity Partners to help rehabilitate and preserve 392 units of affordable housing for the residents of Brittany Bay Apartments. Brittany Bay has the most units of any community in a High Opportunity Area that Freddie Mac has financed.

The Fairfield Affordable Housing Preservation Fund is focused on acquiring rent and income-regulated affordable housing assets in markets throughout the U.S. The Fund is Fairfield’s first affordable housing-focused investment vehicle open to third party investors and will leverage Fairfield’s 20-year history of investing and managing LIHTC multifamily assets. 

A lot with a vacant commercial building that’s fallen into disuse has been transformed into new housing for Los Angeles’ homeless community by development company and Berkadia partner, Aedis Real Estate Group. Berkadia originated $50 million in Freddie Mac’s TEL forward commitments that will finance Hope at Avalon, as well as two sister projects Hope on Broadway and Hope on Hyde Park.

JASA is a longtime Berkadia client and non-profit organization committed to the safety, health, and well-being of seniors. Recently, Berkadia financed $46M+ in loans for two JASA properties under the HUD 223(f) program. In addition to repairs and upgrades, the higher leveraged, low interest rate loans enabled JASA to allocate funds to programs benefiting their residents.


Berkadia is dedicated to leading the digital transformation of commercial real estate with investments in technology like Esusu, a rent-reporting platform created to build tenants’ credit. Multifamily property owners who implement Esusu can decrease evictions and vacancies and maximize NOI. As partners, Berkadia borrowers may receive closing cost credits and discounted rates.


As Freddie Mac’s #1 Optigo® Lender and Fannie Mae’s #2 DUS Producer, Berkadia Small Loans is skilled in navigating GSE programs to find the best loan executions for our clients. Though the lending landscape continues to evolve, agency small loan executions remain one of the best options for investors who recognize the value of optionality and take advantage of rate locking.

Want to learn more?

At Berkadia, our capital strength, market knowledge, breadth of experience and deep industry relationships ensure that we can deliver the certainty of execution that our clients depend on.

Read our affordable housing brochure today and learn more.

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David Leopold

Senior Vice President, Head of Affordable Housing

Mortgage Banking Team

Tim Leonhard

Senior Managing Director

Matthew Napoleon

Senior Managing Director

Liz Diamond

Managing Director, Head of Affordable Originations

Jay Abeywardena

Managing Director

Matthew Baptiste

Managing Director

Anthony Cinquini

Managing Director

Chris Crump

Managing Director

Fred Dockweiler

Managing Director

Lloyd Griffin

Managing Director

Jeff Lawrence

Managing Director

Heather Olson

Managing Director

Melissa Koppel

Vice President - Originations

Franklin Brown

Senior Director

Jerry H. Getant

Associate Director

Joseph Mandeville

Associate Director

Investment Sales Team

Brandon Grisham

Senior Managing Director

Jeff Irish

Senior Managing Director

Bruce Furniss

Managing Director

Mike Terry


Adam Tomberg


Tax Credit Syndication Team

Susan Moro

Managing Director, Head of Transaction Management

Marge Novak

Senior Vice President, Capital Markets

Zenzi Reeves

Senior Vice President, Asset Management

Drew Ries

Senior Vice President, Finance & Operations

Andrew Anania

Managing Director - Investor Relations

Chris McGraw

Senior Vice President - Head of Acquisitions

Chaz Ramos

Vice President, Fund Management

Brian Blanchard

Senior Director - Acquisitions

Justin Sigmon

Director - Acquisitions

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