Fannie Mae Unveils 1st LIHTC Fund Of $100M

Former Fannie Mae Headquarters. Photo by Wikipedia.

WASHINGTON, DC–Fannie Mae has announced its first fund under its recent authority to resuming investing in the Low Income Housing Tax Credit market. It has partnered with Raymond James Tax Credit Funds for a $100 million offering.

The fund will focus on markets that were impacted by Hurricane Harvey last year, as well as rural markets and Native American housing, backing multifamily projects with funding for rehabilitation and construction. The fund will also provide financing for resiliency features in properties located in areas subject to flood and storm activity. The fund is expected to make its first investment in the first quarter of 2018.