New Private Credit in Affordable Housing A Data-Driven Case for Predictable Income Post

February 04, 2026•2 min read

Silvercrest Opportunity Fund, LLC

Today’s real estate market is defined by higher interest rates, rising construction costs, and

increased volatility. As traditional strategies compress, private credit backed by real assets has

emerged as a defensive, income-focused alternative.

According to Federal Reserve data, U.S. household formation continues to outpace new housing

supply, contributing to a national housing shortage estimated at more than four million units. This

imbalance continues to support long-term demand for affordable housing.

Silvercrest Opportunity Fund is a Scottsdale-based private investment fund focused on

professionally underwritten real estate debt tied primarily to affordable housing. Our strategy

emphasizes income generation and capital preservation through senior-secured, asset-backed

credit.

Key fundamentals supporting affordable-housing private credit include senior or first-position

collateral, conservative underwriting with multiple exit strategies, essential housing demand across

economic cycles, and predictable cash flow supported by tangible assets rather than appreciation

assumptions.

Manufactured housing remains one of the most resilient segments of the U.S. housing market,

serving more than twenty million Americans as a primary residence. Replacement costs for

manufactured homes have increased materially since 2020, enhancing the value of existing

collateral and reinforcing demand for affordable options.

Rather than relying on market timing or speculative appreciation, Silvercrest focuses on structured

debt positions designed to generate consistent income while prioritizing downside protection.

For AZREIA members seeking diversification beyond rentals, flips, or syndications, private credit

in affordable housing offers a compelling way to emphasize income, stability, and capital

preservation.

Sources: Federal Reserve Economic Data (FRED) – Housing Supply and Household Formation

U.S. Department of Housing and Urban Development (HUD) – Manufactured Housing Data

Manufactured Housing Institute (MHI) – Industry Statistics

Freddie Mac Research – U.S. Housing Shortage Estimates

Silvercrest Opportunity Fund offerings are available only to qualified accredited investors pursuant to applicable

securities regulations. This material is for educational purposes only and does not constitute an offer to sell or a

solicitation of an offer to buy securities.

Silvercrest Opportunity Fund LLC