Candeur Group and affordable housing industry veteran Steven Fayne have formed a joint venture called Candeur Fayne.
The new partnership will focus on affordable housing lending and investing activities, including a Community Development Financial Institutions lending facility, low-income housing tax credit investing partnerships, and other investment banking products.
Fayne is the former managing director of Citi Community Capital. He began his career in affordable housing in 1992 when he formed Eichler Fayne, one of the first Fannie Mae Delegated Underwriting and Servicing mortgage firms in the industry. Over the next 22 years, he held managing director positions at ARCS Commercial Mortgage, GMAC Commercial Mortgage, and Citigroup Global Markets and led each firm to the top of the low-income housing mortgage business.
"Steven Fayne is an extremely successful, experienced, and connected force in the affordable housing industry and provides a complimentary set of skills and relationships. We are fortunate to benefit from his vast experience and are already seeing the results of our partnership," said Greg Judge, Candeur partner.
Candeur is an investment banking firm for the affordable housing industry providing consulting, advisory, and investment services to affordable housing developers, syndicators, and investors.