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Quarton International advises Tax Credit Group in its sale to CBRE

Transaction

Quarton International is pleased to announce that Tax Credit Group (“TCG”) has been acquired by CBRE Group, Inc. (“CBRE”). TCG is the national leader in providing advisory, investment sales, debt and structured finance, and research services to owners of Affordable Housing (including Section 42 and Section 8 housing). Based in Seattle, TCG was the first national investment sales firm established exclusively to provide transaction services to owners of affordable multi-family properties. TCG, now called CBRE Affordable Housing, will operate as a part of CBRE’s Capital Markets business line.

Quarton International acted as the exclusive financial advisor to TCG, working closely with the management team throughout the sale process to provide advisory expertise and manage the marketing, due diligence and negotiation phases of the transaction.

Since 2001 TCG has pioneered the market for the valuation and sale of affordable properties that carry tax credits, and has executed more than $10 billion in sales and financing across the country. TCG’s success in this industry has been realized through an unwavering focus on client relationships and guided by exceptionally talented team members. TCG is comprised of more than 50 professionals, led by Robert Sheppard, Armand Tiberio, Spencer Hurst, and Jeff Arrowsmith.

“The acquisition of TCG is a strategic move that adds a new capability to our capital markets offering—affordable housing services—and improves our ability to meet the full spectrum of real estate investor needs. We are excited that Robert and his colleagues have joined CBRE and look forward to the benefits that our combined offering will provide to our professionals and clients,” said Chris Ludeman, global president, Capital Markets, CBRE.

TCG has a deep understanding of the affordable housing industry and will bring this expertise to CBRE, giving its professionals new capabilities to serve investors in real estate. CBRE’s suite of integrated service offerings—investment sales, debt and structured finance, investment banking, and valuation services—can now be delivered to investors in the affordable housing industry.

“TCG’s success is a testament to the trust and support of our clients and the great people who are part of our team. This has allowed us to become the industry leader in affordable housing advisory services,” said Mr. Sheppard, who will lead CBRE Affordable Housing. “CBRE provides us the platform to execute on our vision of providing the full suite of investment capital and services to our affordable housing clients. We will be able to fully integrate our affordable-housing expertise with these new capabilities, which will substantially improve our service offerings for our clients.”

Company

Tax Credit Group is the national leader in providing advisory, investment sales, debt and structured finance, and research services to owners of Affordable Housing (including Section 42 and Section 8 housing). Based in Seattle, TCG was the first national investment sales firm established exclusively to provide transaction services to owners of affordable multi-family properties. Since 2001 TCG has pioneered the market for the valuation and sale of affordable properties that carry tax credits, and has executed more than $10 billion in sales and financing across the country.

 

 

Buyer / Investor

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has approximately 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.

Contact

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André A. Augier

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Alexander J. Schroeder

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