Berkadia Secures $12.4M in LIHTC Equity for Affordable Housing Community in South Haven, Michigan
Philadelphia, PA – September 8, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the financing of Lighthouse Ridge Apartments, a 52-unit, garden-style multifamily property in South Haven, Michigan that will provide housing to residents earning between 30-80% of Area Median Income (AMI). Associate Director James Grande of Berkadia Affordable Housing led the Berkadia team in securing $12.4 million in LIHTC equity on behalf of the developer, Wallick Development in partnership with Bogan Developments and Mno-Bmadsen. The deal marks Berkadia’s first closing with Wallick.
“Lighthouse Ridge Apartments is a meaningful project for the South Haven market,” said Grande. “This investment supports the creation of new housing options that will benefit the broader community for years to come.”
Once complete, the community will be comprised of 40 two-bedroom and 12 three-bedroom units housed in three garden-style buildings. It will also include a separate clubhouse, which will house the community space, management office, laundry room, fitness center and business center.
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.
Berkadia Secures $12M in LIHTC Equity for Michigan Housing Property | Connect CRE