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Affordable MF Development Fund Launched

NEW YORK CITY—Formed in a partnership between a real estate firm and a bank, the fund will provide up to $100 million in small to mid-sized construction loans.

By Rayna Katz | Updated on June 16, 2015

NEW YORK CITY—Lending a helping hand to developers looking to build affordable housing, Trimont Real Estate Capital NYC and Amalgamated Bank have entered an agreement to provide small to mid-sized commercial real estate construction loans for the new construction and rehabilitation of affordable multifamily properties here.

An affiliate of Atlanta’s Trimont Real Estate Advisors, Trimont Real Estate Capital NYC was established as a platform for capital providers seeking small-balance commercial real estate loans. The Trimont–Amalgamated Bank initiative will focus primarily on moderate rehabilitation and construction lending across New York City’s five boroughs, supporting Mayor Bill de Blasio‘s goal of boosting affordable housing units by 200,000 over the next ten years.  

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