NEW YORK CITY-R4 Capital has closed on thefirst $80 million of a $100-million Low-Income Housing Tax Creditfund, according to a company statement. The fund involves multipleinvestors. According to the company, the money will provide 1,458affordable housing units and is made up of 15 properties in 10states, including Washington D.C.

Meridian Investments Inc. acted as placement agent for the fund,and Nixon Peabody LLP served as legal counsel in forming thefund. R4 Capital stated that 73% of the portfolio representsprojects where an R4 Capital senior executive had completed priortransactions with a developer or consultant involved in the new R4Housing Partners Fund.

R4 Capital LLC is a privately held nationalaffordable housing tax-credit investment management firm, withoffices in New York, Boston, and Santa Ana, CA. The company is asubsidiary of the Regis Group PLC of London.