Podcast | Intelligent Investment

Coming Home: Affordable housing investment on the rise amid strong fundamentals

July 11, 2023 32 Minute Listen

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The need for affordable housing is acute—with millions of units required to meet demand. Institutional investors are taking notice. Nuveen’s Nadir Settles and CBRE’s Armand Tiberio offer insights on how the sector’s strong fundamentals and the tax credits available can benefit communities as well as investors.

Coming Home: Affordable housing investment on the rise amid strong fundamen...

July 11, 2023 32 Minute Listen

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Key Takeaways:

  1. It’s widely acknowledged that the U.S. needs more affordable housing.
  2. Strong demand for affordable housing underpins market fundamentals that enable investors to earn consistent returns.
  3. Nuveen’s $4.1 billion acquisition of affordable housing investor Omni underscores institutional capital’s strong move into the affordable housing space.

Guests

Photo of Nadir Settles

Nadir Settles

Global Head of Impact Investing, Nuveen

Nadir is the global head of Impact Investing at Nuveen Real Estate. He oversees all transactional and asset management activity for the impact housing portfolio as well as sector staffing-levels, focused investment initiatives, performance, annual operating plan/budgets, and affordable housing services/outreach. He is responsible for sector growth through innovation, new products, community services, and expanded business lines/services. Nadir also serves as a principal spokesperson for Nuveen’s real estate Impact sector to the greater community, including, but not limited to, federal, state, and city local officials, state housing finance agencies, policymakers, advocates, affordable housing and social justice organizations, lenders, etc. He also serves as Head of Investments for the New York MSA for opportunistic-value add investments.

Photo of Armand Tiberio

Armand Tiberio

Vice Chairman

Armand Tiberio is Vice Chair in CBRE’s Affordable Housing group. Since beginning his investment brokerage career in 2000, Armand has overseen the closing of over $17 billion of affordable housing multifamily product nationwide. Armand was a Founding Partner of the Tax Credit Group of Marcus & Millichap— the country’s leading brokerage team of Section 42 Low Income Housing Tax Credit (LIHTC) properties—before the company merged with CBRE in December 2015. His primary responsibility at CBRE Affordable Housing is overseeing disposition strategies for large investor and developer clients, with emphasis on how to maximize value and protect investor members from tax credit liabilities.

Host

Photo of Spencer Levy

Spencer Levy

Global Client Strategist & Senior Economic Advisor, CBRE

Spencer Levy is Global Client Strategist and Senior Economic Advisor for CBRE, the largest commercial real estate services firm in the world. In this role, he focuses on client engagement and public-facing activities, including thought leadership work performed in conjunction with CBRE Research. He also serves as Co-Chair of the Real Estate Roundtable’s Research Committee.

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