Affordable Housing

With a dedicated team of professionals, we provide investment sales, debt and structured finance, and investment banking services for owners and investors in affordable housing.

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See why we are the leader in the affordable housing space.

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At CBRE Affordable Housing, we strive to deliver outstanding client service and extraordinary results. Our integrated team of investment properties, debt and structured finance, and investment banking professionals allows us to build long-term relationships with each client—working together throughout all stages of an affordable housing property’s lifecycle. Our passion and commitment to building trusted client relationships is at the core of our business. We care about delivering great results. Whether you are a long-time owner of affordable housing, a non-profit or brand new to affordable housing, we are here to help you navigate the intricacies of the market.

$1.42B

Investment properties listed
and on the market
$1.28B

Financing closed in 2024
$49.1B

Closed transaction volume all-time

Unsurpassed National Track Record

Multifamily Insights

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Brief | Intelligent Investment

Multifamily Buyer & Seller Sentiment Improves in Q1

April 15, 2025

Underwriting assumptions for core multifamily assets improved in Q1, while those for value-add assets slightly weakened. Buyer and seller sentiment improved for both core and value-add assets.

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Figures

Multifamily Vacancy Rate Falls as Absorption Surges

January 27, 2025

Renter demand outpaced new deliveries in Q4, lowering the overall multifamily vacancy rate to 4.9%—slightly below its long-run average of 5.0%.

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Brief | Intelligent Investment

Multifamily Underwriting Assumptions Mostly Unchanged in Q4

January 23, 2025

Underwriting assumptions for both core and value-add multifamily assets were mostly unchanged in Q4.

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Article | Intelligent Investment

2025: A New Era of Activity

December 17, 2024

James Millon, President U.S. Debt and Structured Finance, joins the capital markets conversation to talk about his view on markets in 2025.

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Chapter | Intelligent Investment

Multifamily

December 11, 2024

With continued solid fundamentals, multifamily is the most preferred asset class for commercial real estate investors in 2025.

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Article | Intelligent Investment

Resilience and Opportunity: The Future of Affordable Housing Investment

November 18, 2024

In this episode of Capital Markets Conversations, Armand Tiberio, Vice Chairman of the CBRE Affordable Housing team, discusses the current state of the affordable housing market and where the best opportunities are in 2025.

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Figures

Multifamily Availability Tightens as Demand Outpaces New Supply

October 31, 2024

The overall multifamily vacancy rate fell to 5.3% in Q3 as demand outpaced new deliveries.

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Brief | Intelligent Investment

Core and Value-Add Multifamily Metrics Improve in Q3

October 28, 2024

CBRE Research is pleased to announce the expansion of its quarterly Multifamily Underwriting Survey in Q3.

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Investor Preferences

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CBRE Affordable Housing has done more affordable sales transactions than anyone else in the industry. With over $27 billion in closed sales and $173 billion in affordable multifamily valuations, our depth of experience gives us the ability to provide you with the most complete and accurate analysis and advisory services.

Our platform size and transactional experience with LIHTC and Section 8/HAP contract properties has provided us with a comprehensive database of more than 40,000 affordable properties nationwide—giving us insights into almost every market in the country. To support our client efforts, we partner with CBRE offices nationwide to provide unparalleled access to local information anywhere that you own an affordable asset. Our passion and commitment to building trusted client relationships is at the core of our business.

With over 20 years leading the affordable housing industry, our experienced team is best positioned to understand all stages of your property lifecycle. Our comprehensive database contains data on more than 40,000 affordable properties nationwide, giving us insights into affordability in your neighborhood and allowing us to maximize value and proceeds for your assets.

Nothing in our business is more important than getting a successful outcome for our clients. We strive to provide the best client service in the industry, ensuring that a dedicated deal team will be on hand for every step of your transaction, from valuation through closing.

Our team of more than 20 dedicated sales analysts accurately value your property and help you with the nuances of owning an affordable asset. Whether it’s a LIHTC property, under a HAP contract, or holds local affordability restrictions, our team has valued more than $173B worth of affordable properties nationwide. We have the expertise to guide you through the most complicated of property issues.

Our dedicated closing and escrow team helps you get your transaction over the finish line. While many brokers stop once the deal is signed, that’s when our team gets to work—serving as liaison between the buyer and seller and helping to smoothly take the transaction through to closing day.

$27.3B

Closed Sales Volume All-Time
$1.7B

Property Value Currently on the Market
1.88M+

Units Valued Nationwide

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Our Investment Properties team represents buyers and sellers of all sizes and property types, from large portfolios to single-asset sales.

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Our integrated financing platform enables seamless execution with Freddie Mac, Fannie Mae, FHA and bridge financing, resulting in over $15 billion in affordable multifamily financing closed since 2016. Our ability to develop and leverage market intelligence consistently results in the best terms and fastest financing for our clients.

Our expertise and ability to handle transactions of all sizes has allowed us to support many sellers who are interested in selling their entire portfolios, as well as those buyers or owners who are looking to finance several properties at the same time. In addition, our lending team has been at the forefront of educating institutional buyers on the nuances of affordable housing financing allowing new capital to flow into the industry.

CBRE is a designated Targeted Affordable Housing Lender and our Freddie Mac Seller-Servicer lending platform has been a top multifamily lender since 2009. In 2024, CBRE was ranked a top Freddie Mac multifamily lender by volume with $6.5 billion financed.

CBRE is a designated Multifamily Affordable Housing Lender and has been a DUS lender since 2008, completing more than $30 billion in CBRE Fannie Mae debt placement transactions since then. A top five lender since 2010, we closed $6.17B in financing in 2024.

CBRE’s FHA lending team is an approved FHA-direct lender—offering the full array of FHA multifamily mortgage insurance programs. Since 2020, CBRE has closed over $2.1 billion in FHA loans. Learn More

$15.1B

Closed Financing since 2016
1,130+

Properties Financed
$1.28B

Closed Financing in 2024

CBRE Affordable Housing does a great job putting all the pieces together for a successful closing. A major advantage is their expertise in affordable housing, which produces competitive terms on each deal.

Jeff DanleyPeak Capital Partners

Loans are made or arranged pursuant to a California Finance Lenders Law license 603H999.

Our Investment Banking team was created to leverage our deep understanding of affordable housing and industry relationships to bring a full range of investment banking services to our clients. Understanding drivers of value in affordable housing and our client’s business objectives, our team works with institutional capital partners to add value to every transaction.

In partnership with the global CBRE Investment Banking team, we offer:

M&A
Capital raising – recapitalization, acquisition and growth capital
Buy-side advisory services
Business analysis and planning

As part of our integrated affordable housing platform, our Investment Banking team brings together asset valuation, debt financing expertise and market transaction knowledge with institutional capital providers in the market.

$6.7B

Transaction and Equity Volume Closed
$19.0B

Real Estate Value Closed

Learn About Our Investment Banking Services

Our Investment Banking team provides time-efficient, strategic and innovative solutions for affordable housing operators and investors.

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Our team has industry leading experience in the Affordable Housing space, providing non-profits with the insights that you need to maximize the management of your portfolio. We provide in-depth market and local knowledge that helps non-profit leaders to make well-informed decisions. Our portfolio management solutions include:

Financing solutions
Land acquisition
Out-of-the-box thinking for acquiring new affordable units
Portfolio and property valuation
Property sales and ownership restructures

Quick Guide Refinancing Next Steps

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Unmatched expertise and innovative solutions for financing

Our financing team works closely with non-profit clients to meet their financing needs. We strive to be our client's financing partner, analyzing alternative financing scenarios and suggesting creative deal structures to achieve your organization's goals, whether that is closing an acquisition, refinance, or construction loan.
Solutions include:

Bond structuring and financing
Fannie Mae and Freddie Mac lending programs
Construction loans
FHA Expertise
New construction and resyndication debt structuring

Creative solutions and proven outcomes for portfolio management

A strategic review and asset-level valuation is the first step to portfolio-level analysis. Following completion of a property valuation, CBRE's unmatched volume in underwriting provides highly accurate peer-group data points to help identify opportunities for improvement. A strategic recommendation will then be provided to drive client decision-making for the eventual execution of operational goals that may include acquisitions, dispositions, or retaining assets and implementing post-analysis operational changes.

Real Solutions for Non-Profits

Adaptive Reuse Financing

Creative financing utilizing recycled bonds allows non-profit to turn an assisted living facility into affordable housing.

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Creative Financing with 501c3 Bonds

LA-based non-profit secures low interest rate through a Fannie Mae M.TEB loan utilizing 501(c)(3) bonds.

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Creative Bond Structuring

CBRE partners with Housing Authority to finance 459 units of permanent supportive housing in LA using CA’s Homekey program.

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Mission Driven Disposition

CBRE partners with Seattle non-profit to meet their mission goals by finding a buyer dedicated to keeping the property affordable.

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Why Choose CBRE?

Trust Our
Expertise

CBRE has more expertise in the Affordable Housing industry than any other commercial real estate firm nationwide. The power of our experience and the strength of our track record provides us with the expertise to craft solutions for any need. Our unmatched database of sales and expense comps allow us to guide our clients to well-informed decision backed by hyper-relevant data.
Maximize Your Portfolio

CBRE works with you to come up with the best solutions for your unique portfolio. Whether that be financing options, management optimization, or valuations and dispositions – we have an answer to your tough portfolio questions.
Meet Your
Goals

We work with you to achieve the goals for your organization – ensuring that you are meeting your mission and the expectations of your board. We know that all non-profits are different and we strive to achieve your unique best outcomes.