CBRE Group acquires Seattle based firm Tax Credit Group,the National Leader in Affordable Housing
CBRE Group, Inc. (NYSE:CBG) 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.
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 CBRE’s 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. TCG’s 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 offering—affordable housing services—and 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.