NEW YORK CITY-R4 Capital has closed on the first $80 million of a $100-million Low-Income Housing Tax Credit fund, according to a company statement. The fund involves multiple investors. According to the company, the money will provide 1,458 affordable housing units and is made up of 15 properties in 10 states, including Washington D.C.
Meridian Investments Inc. acted as placement agent for the fund, and Nixon Peabody LLP served as legal counsel in forming the fund. R4 Capital stated that 73% of the portfolio represents projects where an R4 Capital senior executive had completed prior transactions with a developer or consultant involved in the new R4 Housing Partners Fund.
R4 Capital LLC is a privately held national affordable housing tax-credit investment management firm, with offices in New York, Boston, and Santa Ana, CA. The company is a subsidiary of the Regis Group PLC of London.
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