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California  + Finance  | 
Minnesota’s Red Lake Nation in $42M Affordable Housing Project

Berkadia Closes West Coast Affordable Housing Fund

Berkadia recently closed the Berkadia Affordable Housing West Coast Partners 2021 LP, a $70 million multi-investor Low-Income Housing Tax Credit fund. The fund includes six institutional investors and will support the creation of 312 affordable homes across multiple properties in California.

“Berkadia has made significant investments to tackle the affordable housing crisis and to be a leader in the market,” said David Leopold, SVP and head of Berkadia Affordable Housing. “The closing of this fund exemplifies our commitment to this mission.”

The properties will serve residents earning between 30 and 60 percent AMI in Los Angeles, Riverside and Sonoma counties. The investment to these communities will provide jobs as well as much-needed quality affordable housing to residents in these counties.

With more than $1 billion of active tax credit syndications currently in its portfolio, Berkadia’s LIHTC syndication team has helped finance the development of more than 9,470 units of affordable housing across more than 97 properties. In 2020, Berkadia had more than $2.46 billion in affordable housing transaction volume across its three business lines comprised of mortgage banking, investment sales and tax credit syndication.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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