Member News

Cinnaire has been named one of the 2026 Best Nonprofits to Work For by The NonProfit Times, earning an outstanding #3 ranking out of 50 organizations nationwide.

Pennrose and project partners celebrated the grand opening of Sankofa Village IV, completing the 236-unit, $115 million Cedar Extension Transformation Plan in the Central neighborhood of Cleveland. The final phase added 50 high-quality, affordable rental homes to the 17-acre former Cedar Extension site.

Preservation of Affordable Housing closed on $98.5 million in financing for the construction of the 90-unit Hillsdale Flats Phase I, the third new construction in the multi-phase redevelopment of the Barry Farm-Hillsdale community in Washington, D.C.’s Anacostia neighborhood.

Preservation of Affordable Housing began renovations at Gardner Terrace II and Hebronville Mill, a 52-unit brick building on Knight Ave and the former Hebronville Mill complex, a seven-building historic textile factory dating back to 1854. Renovations include structural improvements, roof replacement, apartment upgrades of kitchen and baths, and 8 accessible units.

Lument acquired a $400 million life company servicing portfolio from V.P. Clarence Company, including approximately 100 retail, industrial, office, and multifamily properties across the United States. Lument’s loan servicing and asset management portfolio will now exceed $56 billion, making it one of the largest servicing platforms in commercial real estate. 

Lument hired Frank Hornung as a senior director responsible for originating Fannie Mae, Freddie Mac, HUD/FHA, bridge, and commercial CMBS loans for multifamily clients in the Pacific Northwest and beyond. Hornung, has commercial real estate experience both as a lender and an operator, and he has originated more than $3 billion in loans throughout his 25-year career. 

Pennrose and Woodbridge Township celebrated the groundbreaking of Petersen Commons, a 60-unit affordable senior housing community in Avenel, New Jersey, expected to be completed in spring 2027.  

Preservation of Affordable Housing was selected by the Chicago Housing Authority to steer a $45 million mixed-finance overhaul of Loomis Courts, a public housing complex on the Near West Side. The plan calls for an extensive renovation of the two-building, 126-unit property, with modernized apartments, new building systems, and locked-in long-term affordability. 

Preservation of Affordable Housing, Boston Mayor Michelle Wu, Congresswoman Ayanna Pressley, and the Boston Housing Authority celebrated the completion of The Amp, the third and final phase of Flat 9 at Whittier in Roxbury, Massachusetts. The multi-year redevelopment replaced 200 public housing units with 210 affordable homes and created 262 additional mixed-income rental units. 

Dominium announced it will break ground on the 233-unit Evermere at Trinity affordable housing development in Nashville, Tennessee on Thursday, April 9.

Churchill Stateside Group welcomed Jeff Banker as Vice President, Production Officer. Banker has more than 20 years of experience in real estate finance, with a strong focus on market-rate multifamily and affordable housing. Throughout his career, he has worked extensively across FHA/HUD, Fannie Mae, and USDA programs developing expertise in affordable housing transactions.

Churchill Stateside Group announced the closing of a $900,000 interim bridge loan for Orchard Village, a 48-unit affordable family housing community located in Detroit, Michigan.