The Community Development and Affordable Housing Fund, LLC, an investment fund sponsored by Candeur Group, received certification as a Community Development Financial Institution (CDFI) from the United States Treasury.
CDFI certification enhances the Fund’s appeal to institutional investors, simplifies CRA requirements, and, together with the Treasury’s Bank Enterprise Award Program, provides an incentive for bank investment.
“We established the mezzanine equity fund in 2013 to provide much-needed gap financing to help developers buy properties with an intent to convert to, or preserve, affordability,” stated Greg Judge, founding partner of Candeur. “We expect the CDFI designation to go a long way in helping us raise additional capital from socially-minded investors interested in preserving affordable housing.”
Candeur is an investment banking firm for the affordable housing industry providing consulting, advisory, and investment services to affordable housing developers, syndicators, and investors.
