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August 17, 2022

CDT Expands Management Team

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Company Appoints Senior Vice President of Development and Vice President, Corporate Administration and Human Resources

New York, N.Y. (August 17, 2022), The Community Development Trust (“CDT”) announced today real estate development veteran Maurice Perry has been appointed Senior Vice President of Development, bringing decades of experience and success to support CDT’s growth strategy. CDT has also appointed Sade Ogunkeyede as Vice President – Corporate Administration and Human Resources to its management team.

In this new role, Perry will focus on development opportunities within CDT’s current portfolio and manage and oversee new development equity activity for the company’s expanding Equity Program, which invests long-term capital to create and preserve long-term affordability and provide high-quality, affordable housing to residents.

“I am thrilled to join CDT as we continue to pursue development opportunities within and beyond CDT’s existing portfolio and maintain CDT’s long-term equity capital investment approach and partnerships with proven and reputable affordable housing operators,” said Perry.

Perry joins CDT following a long and successful tenure at Banc of America Community Development Company, a national developer of affordable housing, where he was responsible for developing and rehabilitating affordable and mixed-income housing communities in the Mid-Atlantic, New England, and Southeast regions.

“Maurice Perry has over twenty years of extensive experience in community housing development. His expertise in assembling complex financing to develop affordable housing with projects that include adaptive re-use, new construction and substantial rehabilitation is an asset to CDT’s new and existing opportunities,” said Michael Lear, CDT’s Chief Business Development Officer. “With the substantial growth of CDT’s equity investment business, we have identified development opportunities within our existing portfolio. Maurice’s expertise will be invaluable as we pursue these opportunities to create and preserve affordable housing.”

As Vice President, Corporate Administration and Human Resources, Sade Ogunkeyede is responsible for CDT’s corporate administration, technology, and human resources.

“Sade Ogunkeyede will help shape the staffing, technology, and operational processes that power our current and planned business growth,” said Grace Cheng, CDT’s Chief Financial Officer.

“At this critical point in its growth and expansion, I am thrilled to join CDT’s management team to help support the internal operations needed for our team and organization,” adds Ogunkeyede.

Before joining CDT, Ogunkeyede managed her consulting firm, where she guided small businesses on all aspects of branding, operations, and business development. She also worked for NEX Services North America as its Senior Facilities Administrator and at Regus as a General Manager.

“I am excited to welcome these highly experienced and accomplished executives to our leadership team,” said CDT’s President and CEO Joseph F. Reilly . “These appointments will support and accelerate CDT’s continued growth in providing affordable communities throughout the country.”

About CDT

CDT is a national lender and investor in affordable communities. Working with local, regional, and national partners, CDT makes long-term equity investments and originates and acquires long-term mortgages. In its 24 years, CDT has invested more than $2.7 billion in debt and equity capital in properties in 45 states and regions — helping to preserve and create more than 53,000 units of affordable housing. CDT is a private real estate investment trust (“REIT”), a certified Community Development Financial Institution (“CDFI”), an approved Fannie Mae affordable housing lender, and a member of the Federal Home Loan Bank of New York. As a CDFI and private REIT with a social impact mission, CDT operates as a double-bottom-line organization by utilizing creative financial solutions to provide debt and equity capital to underserved real estate markets while seeking attractive returns for its shareholders.