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SOURCE: Group Gordon
Since last January, CDT acquired, or committed to finance more than 1,000 units of affordable housing
New York, New York (PRWEB) February 06, 2013
The Community Development Trust (CDT), the country’s only private real estate investment trust (REIT) with a focus on providing capital for the creation and preservation of affordable housing, closed 2012 with notable accomplishments. Since last January, CDT acquired, or committed to finance more than 1,000 units of affordable housing. CDT is a national Community Development Financial Institution (CDFI), as well as a hybrid REIT. In support of the preservation of affordable housing, CDT acquires properties, originates mortgages, or buys and syndicates mortgages originated by other lenders.
“We’re very proud of our accomplishments in 2012 as, once again, we’ve generated positive returns for our shareholders while remaining committed to our mission of bringing debt and equity capital to underserved markets across the country,” said Joe Reilly, President and CEO of CDT. “We believe that our work throughout this past year demonstrates our strength and versatility as an organization, and we look forward to furthering our impact within the community development industry for years to come.”
Some of CDT’s highlights during 2012 include:
These highlights are representative of the impact CDT has on the communities it serves, by providing long-term capital to preserve the viability and affordability of the nation’s critically needed affordable housing.
CDT is the country's only private real estate investment trust (REIT) with a focus on providing capital for the creation and preservation of affordable housing. Working with local and national partners, our organization makes long-term equity investments in affordable housing and both originates and purchases long-term mortgages supporting the development and preservation of affordable housing. After more than fourteen years of operations, CDT has provided approximately $900 million in debt and equity capital to properties in 42 states and regions -- helping to preserve and create more than 32,000 units of affordable housing.
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