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United States : CBRE Group, Inc. Acquires Tax Credit Group, The National Leader in Affordable Housing.

CBRE Group, Inc. today announced that it has acquired Tax Credit Group (TCG), the national leader in providing advisory, investment sales, debt and structured finance, and research services to owners of Affordable Housing (including Section 42 and Section 8 housing). Based in Seattle, TCG was the first national investment sales firm established exclusively to provide transaction services to owners of affordable multi-family properties. TCG, now called CBRE Affordable Housing, will operate as a part of CBREs Capital Markets business line.

Since 2001 TCG has pioneered the market for the valuation and sale of affordable properties that carry tax credits, and has executed more than $10 billion in sales and financing across the country. TCGs success in this industry has been realized through an unwavering focus on client relationships and guided by exceptionally talented team members. TCG is comprised of more than 50 professionals, led by Robert Sheppard, Armand Tiberio, Spencer Hurst, and Jeff Arrowsmith.

The acquisition of TCG is a strategic move that adds a new capability to our capital markets offeringaffordable housing servicesand improves our ability to meet the full spectrum of real estate investor needs. We are excited that Robert and his colleagues have joined CBRE and look forward to the benefits that our combined offering will provide to our professionals and clients, said Chris Ludeman, global president, Capital Markets, CBRE.

TCG has a deep understanding of the affordable housing industry and will bring this expertise to CBRE, giving its professionals new capabilities to serve investors in real estate. CBREs suite of integrated service offeringsinvestment sales, debt and structured finance, investment banking, and valuation servicescan now be delivered to investors in the affordable housing industry.

TCGs success is a testament to the trust and support of our clients and the great people who are part of our team. This has allowed us to become the industry leader in affordable housing advisory services, said Mr. Sheppard, who will lead CBRE Affordable Housing. CBRE provides us the platform to execute on our vision of providing the full suite of investment capital and services to our affordable housing clients. We will be able to fully integrate our affordable-housing expertise with these new capabilities, which will substantially improve our service offerings for our clients.

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Publication:Mena Report
Date:Dec 8, 2015
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