Citi Ranked Top U.S. Affordable Housing Lender for 14th Straight Year
NEW YORK - For the 14th consecutive year, Citi was named the #1 Affordable Housing Lender in the United States, in Affordable Housing Finance magazine's ranking for 2023.
Citi Community Capital financed $6.5 billion in affordable housing in 2023 - up from $6.3 billion in 2022. That includes financing for 34,000+ affordable apartments for families, 10,000+ for seniors, 2,000+ for formerly homeless individuals and almost 250 for veterans.
"Rapidly increasing rents and persistent inflation are intensifying housing affordability pressures for many across the country. We are very proud of our record and are more committed than ever to deploying our resources to help address this critical national issue," said Jane Fraser, Chief Executive Officer of Citi.
"Our dedication to providing borrowers bespoke financing options under all market conditions underpins a certainty of execution that distinguishes our service and supports our consistent leadership in this crucial corner of the market. We are humbled and honored to be recognized once again as America's top affordable housing lender," said Jeremy Johnson, Head of Citi Community Capital.
Citi Community Capital is proud to have served 129 clients in 152 cities in 34 states across the country - from financing projects such as Citadel on Elgin in Houston, Texas, to helping revitalize neighborhoods by transforming local landmarks like the New Jersey Bell Tower. We are excited to continue this important work in 2024 and beyond.
Reaching over 31,000 subscribers in print and online, Affordable Housing Finance is the only national publication serving owners, developers, managers and investors involved in the production and preservation of affordable housing. The results of the survey can be found here: AHF Top 25 Lenders: Better Days in 2024.
Citi Community Capital helps affordable housing developers acquire, construct, rehabilitate, and refinance multifamily affordable housing across the country. Read more about our commitment to the communities we serve here: https://www.citicommunitycapital.com
Our affordable housing finance activities are a pillar of Citi's efforts to address housing insecurity including Citi Impact Fund equity investments and the Citi Foundation's new Global Innovation Challenge focused on housing affordability and homelessness solutions.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
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Media Contact
Rekha Jogia-Soni Rekha.JogiaSoni@citi.com 212-816-3540