LIHC Investment Group

What LIHC Investment Group does

LIHC Investment Group is a privately held, Maine-domiciled real-estate investment firm founded in 1998 by Charlie Gendron (originally as Low Income Housing Corporation and rebranded in April 2017) that specializes in preserving affordable multifamily housing in the United States. The firm acquires limited-partnership and general-partnership interests in properties subsidized through LIHTC, Section 8, Mitchell-Lama, and RAD programs, structuring transactions that maximize sales proceeds for selling partners while extending affordability restrictions for 20–50+ years. It operates through five fund vehicles — LIHC Affordable, LP Solutions Fund, Tax Credit Exit Fund, NP Preservation Group, and NYC Property Investment Group — and reports holdings exceeding $5.5 billion across more than 35,500 multifamily units, with over 12,000 of those concentrated in New York City.

The firm makes money through two complementary streams: transaction fees earned on the acquisition and disposition of partnership interests, and managed-services revenue from overseeing a nationwide portfolio of affordable housing assets. Its go-to-market is enterprise-focused B2B outreach to institutional investors, limited partners seeking liquidity, general partners pursuing exit, and government housing agencies including HUD, NYC HPD, and NYC HDC. Recent transactions include the $364.7 million Park Hill Apartments acquisition in Staten Island (2025) with Arker Companies and L+M Development Partners, a 691-unit Newark portfolio with Fairstead (2021), and the $127 million Stevenson Commons preservation in the Bronx with Belveron and Camber.

LIHC is led by principals Charlie and Andrew Gendron and CEO Marci M. Booth, with approximately 15–20 specialized staff across acquisitions, asset management, finance, compliance, and operations. The firm is ranked #14 on the Affordable Housing Finance Top 50 Owners List for 2023 and #20 on the Multi-Housing News Top Owners List for 2024 and has been recognized annually as a top owner of affordable housing since at least 2017. It operates headquarters in Falmouth, ME and regional offices in New York and Santa Monica, having recently relocated its principal office in November 2024.

Name

LIHC Investment Group

Legal name

Low Income Housing Corporation

Website

https://lihc.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Short description

LIHC Investment Group is a privately held real-estate investment firm that acquires limited and general partnership interests in U.S. affordable housing properties to provide liquidity to investors and preserve long-term affordability restrictions. Operating through five specialized fund vehicles, it manages over $5.5 billion in holdings spanning 35,500+ multifamily units across eight states.

Ownership category

akta.pro rank

Product category

Affordable Housing Real Estate Investment

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259), Trusts, Estates, and Agency Accounts (52592)

SIC

Real Estate Investment Trusts (6798), Investment Advice (6282)

akta.pro primary industry

Unit Registry & Transfer Agency for Alternatives (Private Funds, SPVs, Closed-End) (FSAAAMAK)

Keywords

• Affordable housing investment
• Multifamily property acquisition
• Tax credit exit fund
• Low-income housing preservation
• Real estate investment firm

Headquarters

HQ city

Falmouth

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Real Estate Investment and Acquisition Fees: The company generates revenue through acquisition of partnership interests in affordable housing properties, structuring deals that maximize sales proceeds for selling partners while creating value through preservation and rehabilitation.
2. Asset Management and Portfolio Oversight: Revenue derived from managing a portfolio of over 35,500 units of multifamily affordable housing nationwide through various fund vehicles including LP Solutions Fund, Tax Credit Exit Fund, NP Preservation Group, and LIHC Affordable.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

LIHC Investment Group acquires limited and general partnership interests in affordable multifamily housing properties across the United States, providing liquidity to exiting investors and preserving long-term affordability through rehabilitation and regulatory compliance. The firm operates through five divisions: LIHC Affordable (direct ownership), LP Solutions Fund (LP liquidity), Tax Credit Exit Fund (acquisitions at tax credit expiration), NP Preservation Group (nonprofit-owned property acquisitions), and NYC Property Investment Group (NYC-focused acquisitions). Holdings exceed $5.5 billion across more than 35,500 multifamily units nationwide.

Product overview

LIHC Investment Group operates as a diversified real estate investment platform offering multiple fund products focused on affordable housing preservation. The core offering includes direct property ownership through LIHC Affordable Properties, complemented by specialized funds: LP Solutions Fund (providing liquidity for limited partners), Tax Credit Exit Fund (acquiring properties at tax credit expiration), NP Preservation Group (acquiring nonprofit-owned properties), and NYC Property Investment Group (NYC-focused acquisitions). The company holds over $5.5 billion in holdings with interests in more than 35,500 units of multifamily housing nationwide.

Differentiator

Problem solved

Functional benefit

Products and services

• LIHC Affordable Properties

Quantifiable outcome

• Preserved over 35,500 units of multifamily affordable housing nationwide
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

13 partnerships are on record, tiered core and minor.

• Arker CompaniescoreStrategic or Co-development Partner · 20 February 2026Joint venture partner with L+M Development Partners and LIHC Investment Group in the $364.7 million acquisition of Park Hill Apartments in Staten Island. The deal represents a blockbuster transaction for the borough, with the new ownership committed to significant rehabilitation of the 1,103-unit complex.
• L+M Development PartnerscoreStrategic or Co-development Partner · 20 February 2026Joint venture partner with Arker Companies and LIHC Investment Group in acquiring Park Hill Apartments. The partnership focuses on preserving critical affordable housing stock in Staten Island.
• TredwaycoreStrategic or Co-development Partner · 30 May 2024Partnership with Tredway on 100-unit senior housing acquisition in Newark ($40M financing) and Forest Hill House senior housing rehabilitation ($20M project). Tredway is an affordable and mixed-income real estate developer.
• Sena Affordable CommunitiesminorStrategic or Co-development Partner · 29 February 2024Partnership on $68M financing to preserve and improve Riverview Towers Apartments (seniors in Camden, NJ) with 30-year affordability extension.
• LNWAminorStrategic or Co-development Partner · 29 February 2024Partnership with Sena Affordable Communities, Tredway, and LNWA on $68M Camden senior housing preservation.
• VitusminorStrategic or Co-development Partner · 8 November 2023LIHC and Vitus partnered to preserve 34 affordable homes at Villa Verde Apartments in Santa Fe Springs, CA with major renovation and commitment to keep property affordable through 2073.
• FairsteadcoreStrategic or Co-development Partner · 2 November 2021Fairstead and LIHC Investment Group acquired a 691-unit affordable housing portfolio in Newark, N.J. with plans to invest more than $27 million in improvements. Also partnered on Essex Plaza ground-up mixed-income development in Newark.
• Silver Street Development CorporationminorStrategic or Co-development Partner · 20 May 2021Partnership on $71M financing to acquire and preserve Marble Hall Apartments (134 units in Tuckahoe, NY) through 2060.
• CommonminorStrategic or Co-development Partner · 11 October 2019LIHC and L+M Development Partners are joint venturing on one of the first affordable co-living plans approved in NYC, working with Common on the city's affordable co-living pilot program.
• Weston Associates Inc.coreStrategic or Co-development Partner · 16 August 2017Partnership with Weston Associates on $75M+ Shore Plaza Apartments renovation (380 units in East Boston) with 20-year affordability extension. LIHC and Weston executed $14M+ in improvements.
• Belveron PartnerscoreStrategic or Co-development Partner · 17 July 2017Long-term partnership with Belveron Partners on multiple NYC preservation transactions including $127M Stevenson Commons (948 units), Bronx Mitchell-Lama buildings ($170M purchase), Mercantile Wharf preservation in Boston, and various other joint ventures.
• Camber Property GroupcoreStrategic or Co-development Partner · 17 July 2017Partnership with Camber Property Group and Belveron on $127M Stevenson Commons preservation (948 units in Bronx) and $170M Bronx affordable housing purchase of 1,275 Mitchell-Lama units. Also collaborated on Carol Gardens purchase.
• Just-A-Start CorporationcoreStrategic or Co-development Partner · 7 July 2017LP Solutions LLC donated 91% ownership stake (valued at $14.5M) in Close Building to Just-A-Start Corporation, a Cambridge community development corporation. This was the largest donation ever received by JAS and second affordable housing donation by LIHC in Greater Boston.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• L+M Development Partners: L+M is a direct JV partner with LIHC on multiple affordable housing transactions including Park Hill ($364.7M) and Bronx Mitchell-Lama acquisitions, and operates the same multifamily affordable preservation model with overlapping fund vehicles and government relationships in NYC.
• Fairstead: Fairstead co-invested with LIHC on the 691-unit Newark affordable portfolio and Essex Plaza ground-up development, and is one of the most active affordable and mixed-income preservation owners in the same Northeast footprint.
• Belveron Partners: Belveron is a long-term LIHC JV partner on Stevenson Commons ($127M), the $170M Bronx Mitchell-Lama acquisition, and Mercantile Wharf, operating a similarly partnership-heavy affordable housing investment platform.
• Camber Property Group: Camber co-invested with LIHC on Stevenson Commons and the $170M Bronx purchase, specializing in affordable and mixed-income preservation in NYC with overlapping investor base and government agency relationships.
• Arker Companies: Arker is the third JV partner alongside L+M and LIHC on the $364.7M Park Hill Apartments acquisition and is one of the largest NYC-based affordable and workforce housing owners and developers.
• Phipps Houses: Phipps is one of NYC's largest nonprofit affordable housing developers and owners, competing and occasionally partnering with LIHC on preservation deals, Mitchell-Lama buyouts, and HPD/HDC-financed transactions.
• NHP Foundation: NHP Foundation is a national nonprofit affordable housing owner that buys and preserves rent-regulated and LIHTC properties in many of the same Northeast and Mid-Atlantic markets where LIHC operates.

Broad incumbents

• The Related Companies: Related is one of the largest U.S. affordable housing owners through Related Affordable, operating nationally with a much broader real estate portfolio but overlapping deal types, LIHTC strategy, and government partners in NYC and beyond.
• WinnCompanies: WinnCompanies is a major multifamily owner and manager with a significant affordable housing portfolio across the U.S., participating in the same LIHTC, Section 8, and RAD preservation markets as LIHC with overlapping government relationships.

Regional players

• Monadnock Development: Monadnock is a Northeast-focused affordable housing developer active in NYC, Westchester, and New Jersey preservation deals, with a partnership-heavy model similar to LIHC's.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/lihcinvestmentgroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LIHC Investment Group