Berkadia expands its affordable housing business with acquisition of LIHTC Advisors

Berkadia has acquired Idaho-based LIHTC Advisors, a brokerage firm focusing on low-income housing tax credit (LIHTC), to scale-up its affordable housing brokerage business.

The commercial real estate firm said that the addition of LIHTC Advisors would broaden its market presence and support the long-term strategic growth of its affordable housing division.

Berkadia senior vice president David Leopold, along with former principals of LIHTC Advisors – Jeff Irish and Brandon Grisham – will lead the new team, Berkadia Affordable.

“This is a huge step forward in Berkadia’s goal of expanding our affordable housing team, another investment in this critical space,” said Berkadia chief executive officer Justin Wheeler. “Jeff, Brandon and their team bring a long and successful record of providing excellent advisory and client service—what Berkadia is known for in this asset class and in our industry.”

“We are thrilled to be adding such skilled, affordable experts to further our goal to be the largest and most respected provider of capital and advisory services for affordable housing in the country,” Leopold said. “Jeff, Brandon and their entire team bring our suite of services and market presence to a new level, partnering with our clients to maximize the value and impact of their investments.”