Berkadia Arranges $47M in LIHTC Equity for Affordable Housing Development in Philadelphia
Philadelphia, Pennsylvania – June 24, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today that Senior Director Justin Sigmon and Associate Director James Grande of Berkadia Tax Credit Syndication arranged $47 million in LIHTC equity on behalf of MCAP Funds for Walnut Park Plaza, a 227-unit historic rehabilitation of an affordable senior (55+) community located in Philadelphia, Pennsylvania.
“Walnut Park Plaza is a meaningful project for the Philadelphia market,” said Sigmon. “We’re proud to help support a development that will preserve affordability and serve residents for years to come.”
The property is supported by Section 8 HAP contracts. The development also utilizes 4% LIHTCs. Walnut Park Plaza will be developed by MCAP with McDonald Building Company and Community Realty Management, Inc. serving as general contractor and property manager, respectively.
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.