Berkadia Secures $15M in LITHC Equity for Affordable Housing Community in Cranbury, New Jersey
Philadelphia, PA – October 6, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the financing of Cedar Brook Crossing, a 60-unit mid-rise multifamily property in Cranbury, New Jersey, that will provide affordable housing for seniors ages 55 and older. Senior Director Justin Sigmon of Berkadia Affordable Housing led the Berkadia team in securing $15 million in LIHTC equity on behalf of the developer, Walters Cornerstone Development.
“Cedar Brook Crossing will help address a critical need for affordable senior housing in Central Jersey, giving more older adults the opportunity to remain in the communities they know and value,” said Sigmon. “By expanding access to quality, attainable homes, this investment will strengthen the local community, support its residents, and create lasting benefits for years to come.”
The community will feature 60 affordable apartment homes for residents ages 55 and older, including 56 one-bedroom and four two-bedroom units within a four-story, elevator-serviced building. All apartments will serve households earning between 30% and 60% of Area Median Income. Five apartments, including four one-bedroom units and one two-bedroom unit, will be reserved for households with special needs, with a particular focus on individuals and families experiencing homelessness. These residents will have access to supportive services designed to promote housing stability and long-term well-being.
Berkadia Affordable Housing is a fully integrated financial services platform comprised of mortgage banking, investment sales, and tax credit syndication that delivers comprehensive investment solutions to clients across the country and distinguishes itself by pairing deep technical expertise and a wide array of product offerings with the drive and focus necessary to help clients grow their business.