Community Development Trust
Community Development Trust is a private REIT and certified CDFI that provides long-term debt and equity financing for affordable multifamily rental housing across 45 U.S. states, managing $3.2 billion in capital alongside government housing authorities, nonprofit developers, and institutional investors.
- Company typePrivate
- Founded1998
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Community Development Trust does
Community Development Trust (CDT) is a New York-based, private real estate investment trust (REIT) and certified Community Development Financial Institution (CDFI) founded in 1998 to provide long-term debt and equity capital for the acquisition, preservation, and development of affordable multifamily rental housing in the United States. The company operates two core financial programs: an Equity Program that takes long-duration ownership positions (typically $2–$20 million per property) alongside nonprofit and for-profit developers, and a Debt Program that originates and acquires 15–30 year fixed-rate mortgages ($2–$10 million per loan), including new construction financing for LIHTC-financed assets and secondary-market purchases of affordable community loans. CDT's underlying technology is its dual REIT/CDFI regulatory structure, which allows it to mobilize private capital for mission-driven housing while accessing both traditional real estate capital markets and government-subsidized funding such as CDFI Fund Financial Assistance awards.
CDT generates revenue through multiple streams: long-term equity investment returns (rental income, appreciation, and dispositions); interest income and origination fees on its mortgage portfolio; and periodic capital raises from institutional investors, with $420+ million raised since inception through common stock and preferred share offerings (Series A–E). The company serves three primary customer segments — government housing authorities, nonprofit housing developers, and for-profit affordable housing developers — together with institutional investors (banks, insurance companies, and mission-aligned organizations such as LISC) that supply capital into its offerings. Distribution is entirely relationship-driven, executed through senior leadership and a small business development team based in New York covering 45 states. As of 2026, CDT manages $3.2 billion in debt and equity capital, has preserved or created more than 35,000 affordable units serving 125,000+ residents, and paid $330 million in cumulative dividends to investors.
Community Development Trust firmographics
Firmographics- Name
- Community Development Trust
- Legal name
- The Community Development Trust, Inc.
- Website
- https://cdt.biz
- Company type
- Private
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Community Development Trust is a private REIT and certified CDFI that provides long-term debt and equity financing for affordable multifamily rental housing across 45 U.S. states, managing $3.2 billion in capital alongside government housing authorities, nonprofit developers, and institutional investors.
- Ownership category
- akta.pro rank
Community Development Trust industry classification
Industry- Product category
- Affordable Housing Finance
- NAICS
- Grantmaking and Giving Services (81321)
- SIC
- Real Estate Investment Trusts (6798)
- akta.pro primary industry
- Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)
Keywords
Where Community Development Trust is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Community Development Trust business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Equity Investment Returns: CDT generates returns through long-term equity investments in affordable housing properties. As an equity investor, CDT earns returns through property appreciation, rental income, and eventual sale of equity positions. Equity investments typically range from $2 million to $20 million for properties of 100+ units.
- Debt Financing Interest and Fees: CDT originates and acquires long-term mortgages for affordable housing properties, generating interest income and origination fees. Debt program includes fixed-rate forward commitments for new construction (LIHTC-financed) with terms of 15-30 years, immediate fixed-rate funding for existing stabilized properties, and secondary market purchases of multifamily affordable community loans.
- Capital Raising from Investors: CDT raises operating capital through periodic capital offerings from institutional investors. The company has raised over $420 million in operating capital since inception through various equity and preferred stock offerings, with total dividends paid of $330 million.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Equity investments for properties of 100+ units |
| Unit Pricing | Multi-year contract | Debt financing for affordable housing |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Community Development Trust product offering
Product offeringCore offering
Community Development Trust (CDT) is a private REIT and certified CDFI that provides long-term debt and equity capital for the acquisition, preservation, and development of affordable multifamily rental housing throughout the United States. Its Debt Program originates fixed-rate mortgages (typically $2-10 million, 15-30 year terms) for new construction, stabilized properties, and secondary market loan purchases, while its Equity Program makes long-term equity investments (typically $2-20 million) for properties of 100+ units in partnership with nonprofit and for-profit developers.
Product overview
CDT operates as a private real estate investment trust (REIT) and certified Community Development Financial Institution (CDFI) offering two core financial products: the Debt Program and Equity Program. These programs work together to provide long-term capital for the preservation and creation of affordable housing throughout the United States. The Debt Program focuses on mortgage financing with terms of 15-30 years, while the Equity Program provides equity capital for property acquisitions and joint ventures. Both programs target affordable multifamily rental housing properties with typical investment sizes between $2-20 million.
Differentiator
Problem solved
Functional benefit
Brands
- Essential Housing Impact Partnership (EHIP): Joint venture partnership between CDT, The Michaels Organization, and Goldman Sachs Urban Investment Group focused on preserving affordable housing through large-scale acquisition of LIHTC properties.
Products and services
- Debt Program Long-term fixed-rate mortgage financing for the acquisition, preservation, and new construction of affordable multifamily rental housing, including LIHTC-financed new construction, stabilized existing properties, and secondary market loan purchases. Loans typically range from $2 million to $10 million with 15-30 year terms; larger loans considered on a case-by-case basis. Targeted at government housing authorities, nonprofit developers, and for-profit developers of affordable housing.
- Equity Program Long-term equity capital for the acquisition, preservation, and development of affordable multifamily rental housing properties of 100 or more units. CDT invests for the long term, typically between $2 million and $20 million per transaction, with larger transactions or portfolios considered on a case-by-case basis. Works with both nonprofit and for-profit partners experienced in building, acquiring, rehabilitating, and managing affordable housing communities.
Quantifiable outcome
- Over $3.2 billion in investments under management across 45 states and regions
- +4 more outcomes
Companies that use Community Development Trust
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles4 records
Community Development Trust technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Community Development Trust partnerships and signals
Strategic signalPartnerships
26 partnerships are on record, tiered minor and core.
- WeHerominorCDT partnered with WeHero for annual Community Day for the second year, participating in education access and community service initiatives.
- The Michaels OrganizationcoreJoint venture partner in the Essential Housing Impact Partnership (EHIP), a $1.2 billion acquisition of 90 affordable housing communities across 8 states. Michaels handles property management responsibilities for the EHIP portfolio.
- Better TomorrowscoreNonprofit partner providing social service provisions across the EHIP portfolio of 90 properties and 10,000+ units.
- Community Preservation Corporation (CPC)corePartner in the NYCHA PACT Renaissance Collaborative (PRC), a 16-site portfolio of 1,700+ apartments in Manhattan requiring substantial rehabilitation.
- Monadnock Development LLCcorePartner in the NYCHA PACT Renaissance Collaborative (PRC), providing development expertise for the 16-site Manhattan portfolio.
- Lemor Development GroupcorePartner in the NYCHA PACT Renaissance Collaborative (PRC) for the Manhattan affordable housing rehabilitation.
- Kalel Holdings LLCcorePartner in the NYCHA PACT Renaissance Collaborative (PRC) for the Manhattan affordable housing rehabilitation.
- Community League of the Heights (CLOTH)coreNonprofit community service organization providing social services across the NYCHA PACT Renaissance Collaborative properties. CLOTH has served Upper Manhattan neighborhoods for 66 years.
- AEON Housing, Inc.coreTop-tier nonprofit housing developer in the Twin Cities region. CDT partnered with AEON for Seasons Park (422 units) conversion to 100% affordable housing.
- Volunteers of America National ServicescoreNonprofit partner for The Terraces (200-unit senior community in New Orleans) and Summit Apartments (256 units in Colorado Springs).
- Southport Financial ServicescoreExperienced operator of LIHTC and Section 8 properties. CDT has worked with Southport for over a decade, completing ten transactions together.
- National Church ResidencescoreNonprofit housing developer partner for Abbey Church Village Apartments (159 units in Dublin, OH) with supportive services program.
- Casper Housing AuthoritycorePublic housing authority partner for Raven Crest Apartments (100 units in Casper, WY) addressing shortage of safe, affordable housing.
- Tropicana Properties, Inc.corePartner for Alameda Palms Apartments (124 mixed-income units in El Paso, TX) with strong federal and military presence employment base.
- Conifer Realty, LLCcoreDevelopment partner for Patuxent Cove (60 units in MD) and Phoenix Estates II (108 units in Bronx, NY).
- St. Mary's Community Development CorporationcoreNonprofit partner coordinating resident services for Patuxent Cove property in Maryland.
- Maiker Housing PartnerscoreNonprofit affiliate of Adams County Housing Authority. Joint venture partner for Toscana Apartment Homes (252 units in Westminster, CO).
- Austin Affordable Housing Corporation (AAHC)coreNonprofit affiliate of Housing Authority of City of Austin. CDT's fourth partnership with AAHC for Bridge at Ribelin Ranch (350 units) converted market-rate to affordable housing.
- Evergreen Housing PartnerscoreNonprofit partner for Cushing Residence (150-unit senior community in Hanover, MA), a legacy asset acquired by CDT in 2012.
- Dunn Development and L&M Development PartnerscoreDevelopment partners for Navy Green (213 units in Brooklyn, NY), which won ULI New York Award for Excellence in Housing Development.
- Colorado Springs Housing AuthoritycorePublic housing authority partner for Summit Apartments (256 units in Colorado Springs) through joint venture with Volunteers of America.
- Community Development Corporation of Long Island, Inc.coreNonprofit partner for Port Jefferson Crossing (45-unit development in Port Jefferson, NY) developed by Conifer Realty.
- Holsten Real Estate Development CorporationcoreDevelopment partner for Parkside Four Phase II (102 units in Chicago), part of the Cabrini Green redevelopment using HUD Rental Assistance Demonstration Program.
- MHANY Management Inc.coreNonprofit developer partner for Phoenix Estates II (108 units in Bronx, NY), including units for formerly homeless individuals.
- The Boys' Club of New YorkminorPartner with WeHero for community service programs including education access and musical instrument building for individuals with developmental disabilities.
- Housing Partnership NetworkcoreAward-winning membership network of 100+ leading affordable housing and community development nonprofits. Robin Hughes, CDT Board member, is President and CEO.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
Community Development Trust competitors and assessment
Company assessmentDirect peers
- LISC (Local Initiatives Support Corporation): National CDFI that provides financing for affordable housing and community development, and seeded CDT's initial investment. Closest comparable in mission, structure, and customer base, though broader in scope (also small business, education, health).
- Enterprise Community Partners: National nonprofit CDFI deploying debt and equity into affordable housing, including LIHTC syndications and preservation capital. Operates a similar equity/debt platform serving developers and housing authorities nationwide.
- The Reinvestment Fund (TRF): CDFI focused on equitable development financing for housing, education, and community assets. Comparable in CDFI structure, mission focus on distressed geographies, and use of debt + equity for affordable housing preservation.
- Capital Impact Partners: National CDFI providing capital and capacity-building for underserved communities, with a strong affordable housing lending practice. Directly comparable in product mix (debt + equity) and CDFI-certification-driven model.
- Cinnaire: CDFI lender specializing in affordable rental housing financing across the Midwest and Mid-Atlantic. Highly comparable in loan product structure (LIHTC, Section 8, new construction) and target customer base of nonprofit and for-profit developers.
- Bellwether Enterprises: Affordable-focused real estate lender providing Freddie Mac and Fannie Mae debt for LIHTC and Section 8 housing. Comparable in debt product offering and GSE-relationship-driven capital structure.
Broad incumbents
- National Equity Fund (NEF): One of the largest LIHTC syndicators in the U.S., deploying institutional equity into affordable housing. Operates upstream in the capital stack as a syndicator/equity provider, broader scale than CDT.
- Fannie Mae (Multifamily Affordable Housing): Government-sponsored enterprise providing debt financing for affordable multifamily housing. CDT is itself a Fannie Mae-approved lender, but as a GSE, Fannie Mae operates at vastly larger scale across the same customer base.
Others
- Fairstead: Mission-driven affordable housing owner/operator with 20,000+ units. Not a direct capital provider but shares the same affordable housing ecosystem; several CDT executives previously led asset management at Fairstead.
- BRIDGE Housing Corporation: Nonprofit affordable housing developer and owner on the West Coast. Adjacent rather than competitive — both rely on the same LIHTC and affordable housing finance ecosystem that CDT underwrites.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Community Development Trust social profiles
Digital presenceCommunity Development Trust compliance and trust
Trust signalCompliance1 record
Community Development Trust financial estimates
Financial estimateRevenue estimate
Valuation estimate
Community Development Trust leadership team
Management profileNumber of profiles
Profiles8 records
Community Development Trust funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Community Development Trust M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Community Development Trust
What does Community Development Trust do?
Community Development Trust (CDT) is a private REIT and certified CDFI that provides long-term debt and equity capital for the acquisition, preservation, and development of affordable multifamily rental housing throughout the United States. Its Debt Program originates fixed-rate mortgages (typically $2-10 million, 15-30 year terms) for new construction, stabilized properties, and secondary market loan purchases, while its Equity Program makes long-term equity investments (typically $2-20 million) for properties of 100+ units in partnership with nonprofit and for-profit developers.
Is Community Development Trust a public or private company?
Community Development Trust is a private company. It is classified as management employee owned and is currently operating.
When was Community Development Trust founded?
Community Development Trust was founded in 1998. It employs 11 to 50 people.
Where is Community Development Trust based?
Community Development Trust is headquartered in New York, United States, in the North America region.
How does Community Development Trust make money?
Three revenue lines are on record. Equity Investment Returns are the primary driver. The others are debt Financing Interest and Fees and capital Raising from Investors.
Who are Community Development Trust's main competitors?
Direct peers on record are LISC (Local Initiatives Support Corporation), Enterprise Community Partners, The Reinvestment Fund (TRF), Capital Impact Partners, Cinnaire and Bellwether Enterprises. Broad incumbents are National Equity Fund (NEF) and Fannie Mae (Multifamily Affordable Housing). Others are Fairstead and BRIDGE Housing Corporation.
Does Community Development Trust have an API?
No public API is recorded for Community Development Trust.
What industry is Community Development Trust in?
Community Development Trust's product category is Affordable Housing Finance. Its primary akta.pro industry code is BPAGALAC, Affordable Housing & Community Development (Housing, Community Land Trusts). Its NAICS code is 81321 and its SIC code is 6798.