Colliers International has hired veteran affordable housing broker Jonathan Richards as Executive Managing Director, Affordable Housing Group. The hire adds to the firm’s growing list of specialty brokerage services available in the Southeast and throughout the eastern U.S. and expands Colliers’ National Affordable Housing Practice Group.
During his 17 years in commercial real estate brokerage, the last several of which he’s focused on the affordable housing sector, Richards has been directly involved in commercial real estate transactions involving affordable and multifamily properties throughout the country totaling over $1.5 billion.
In his new role, Richards will specialize in representing owners and sellers of affordable housing properties – typically private and institutional investors and mission-based nonprofits – nationwide. Richards will be based out of Colliers’ Southwest Florida office in Fort Myers.
“We’re very pleased to have Jonathan join the team,” said Danny Rice, Managing Director and Market Leader for Colliers International Tampa Bay, Central & Southwest Florida. “His deep experience in the affordable housing sector adds another layer of specialization we’re now able to offer clients, and dovetails nicely with our continued focus on capital markets.”
Prior to joining Colliers International, Richards served as Senior Vice President at The LIHTC Group. Richards began his commercial real estate brokerage career at CBRE in Southwest Florida in 2003 and is also an active investor in affordable housing properties.
He earned a Bachelor of Industrial Engineering from Georgia Institute of Technology and a Masters of Business Administration from University of San Francisco, and holds the Novogradac Property Compliance Certification (NPCC). He is an honorary board member of the Cancer Alliance of Naples.
“What appealed to me about Colliers is that they’re a large firm with a national presence and platform, but they still provide a personalized approach to clients,” Richards said. “I also appreciate the fact that the firm embraces specialty focuses, like affordable housing.”
Colliers International’s National Affordable Housing Practice Group is based in Irvine, Calif., and is led by John L. Nguyen, Director of Colliers’ Affordable Housing Group.
“Jonathan Richards is a valuable addition to our platform and gives the National Affordable Housing Group the ability to handle the growing number of transactions and advisory services on the East Coast,” said Nguyen. “Jonathan’s 17 years of transactional experience greatly enhances the group’s level of understanding in practically every complex situation and builds upon our group’s national platform reach to maximize value for our clients.”
About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment.