Affordable Housing REIT CDT Expands into Charter Schools

Community Development Trust (CDT) has launched a new platform that provides long-term, fixed-rate financing for charter schools.

Founded in 1998, New York City-based CDT is a private, hybrid REIT that is active on the debt and equity side of affordable housing projects. CDT’s Charter School Lending Program, launched in September, aims to address the problems traditionally faced by charter schools in obtaining suitable financing, said Shelly Cleary, senior vice president of CDT.