The Community Development Trust ("CDT") announced it has appointed Michael Lear as Chief Business Development Officer. In his new expanded role, Michael will continue to manage all aspects of CDT's core equity investment activities. He will be responsible for continuing to grow the equity business through new strategic initiatives and programs, identifying and executing new partnerships and structures to broaden CDT's investments in affordable housing, and developing external relationships to support CDT's growth.
NEW YORK, April 7, 2022 /PRNewswire-PRWeb/ -- The Community Development Trust ("CDT") announced it has appointed Michael Lear as Chief Business Development Officer.
In his new expanded role, Michael will continue to manage all aspects of CDT's core equity investment activities. He will be responsible for continuing to grow the equity business through new strategic initiatives and programs, identifying and executing new partnerships and structures to broaden CDT's investments in affordable housing, and developing external relationships to support CDT's growth.
Mr. Lear has spent his entire career in the field of affordable housing policy, development, and finance. He has been with CDT since 2011 with experience in both asset management and equity investment.
"Michael Lear's business acumen and affordable housing expertise is unrivaled. He is a proven leader with a deep mission commitment and a strong track record in making economically successful, impactful investments," said CDT President and CEO, Joseph Reilly.
Now in its 24th year, CDT provides long-term debt and equity capital for the creation and preservation of affordable housing and community facilities, including charter schools. A nationally recognized CDFI, CDT has invested more than $2.5 billion across the United States and currently has over $2.3 billion in gross assets under management.
"I am extremely proud to contribute to CDT's work and look forward to driving our growth as we continue to expand our impact. CDT's long-term, mission-centered capital is a unique resource within the affordable housing and community development industry," adds Michael Lear. "I am excited for all that CDT and our partners have accomplished and will continue to accomplish moving forward."
About CDT
CDT is a national lender and investor in affordable communities. Working with local, regional, and national partners, CDT makes long-term equity investments and originates and acquires long-term mortgages. In its 24 years, CDT has invested over $2.7 billion in debt and equity capital in properties in 45 states and regions — helping to preserve and create more than 53,000 units of affordable housing. CDT is a private real estate investment trust ("REIT"), a certified Community Development Financial Institution ("CDFI"), an approved Fannie Mae affordable housing lender, and a member of the Federal Home Loan Bank of New York. As a CDFI and private REIT with a social impact mission, CDT operates as a double-bottom-line organization by utilizing creative financial solutions to provide debt and equity capital to underserved real estate markets while seeking attractive returns for its shareholders.
Media Contact
Beth Silver, The Community Development Trust ("CDT"), 1 917-209-2703, [email protected]
SOURCE The Community Development Trust (“CDT”)
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