Berkadia announced the acquisition of LIHTC Advisors, an Idaho-based brokerage firm dedicated to providing solutions for apartment investors and focusing on low-income housing tax credit (LIHTC) and other affordable housing properties.
Leading the team will be Jeff Irish and Brandon Grisham, former principals with LIHTC Advisors who, prior to joining Berkadia, have been involved in the sale of over $2 billion of affordable housing assets throughout the country.
The addition of LIHTC Advisors aims to broaden Berkadia Affordable’s market presence and support long-term strategic growth under the leadership of David Leopold, senior vice president and head of Berkadia Affordable.
Leopold joined Berkadia Affordable in 2019 and leads the strategy of its mortgage banking, investment sales, and recently integrated tax credit syndication teams.
“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,” said Leopold. “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.”
Irish and Grisham have been in the affordable housing brokerage business for a combined 19 years, representing both general and limited partners. In 2019, they closed 53 transactions—and expect to exceed that this year.
In 2019, Berkadia’s loan origination volume was $27 billion while its investment sales platform totaled $9 billion.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a suite of services to multifamily and commercial property clients.