Shelby Mcgrain

Deputy Chief Underwriter

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Shelby McGrain is Deputy Chief Underwriter for CBRE Affordable Housing. In this role, Shelby works with underwriting and production teams to review transactions on all affordable debt products, including Fannie Mae, Freddie Mac and other third-party providers.

Previously, Shelby was with SunTrust Commercial Real Estate, working as a Senior Underwriter for both conventional and affordable multifamily properties in the GSE Lending group. She has worked on transactions involving Section 8 HAP restrictions, 9% LIHTC, 4% LIHTC, historical tax credits, manufactured housing communities, and student housing properties. Prior to joining SunTrust, Shelby worked with Freddie Mac in conventional multifamily underwriting for the Southeast US.


  • Washington and Lee University, Bachelor of Science; Special Attainments in Commerce

CBRE Affordable Housing

Meet the entire CBRE Affordable Housing team including Leadership, Investment Properties, Debt and Structured Finance and Capital Markets Advisory