PNC Bank Corp. said Thursday that it would buy Arcand Co., a portland, Ore., investor in affordable housing.

PNC said the acquisition would heighten the bank's role in affordable housing and boost its efforts to become a national commercial real estate financial services company.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.