City Real Estate Advisors (CREA) announced the closing of $430 million in investor equity in 2014. Additionally, CREA raised $45 million from investors for transactions that will close in the first quarter of 2015. Equity was raised through a number of investor outlets, including two of the firm’s largest national funds, multiple proprietary funds, one Hawaii state fund and several secondary transactions. Since inception, CREA has raised over $2.4 billion in investor equity.
CREA expanded its investor group by adding five new investors in 2014. Equally important, CREA’s national footprint was extended by adding 18 new developer relationships. CREA now operates in 38 states, including Alaska, Hawaii and the US Virgin Islands. CREA’s staffing increased by 10 new employees this past year, adding expertise in all facets of affordable housing – transaction structuring, property and asset management, accounting, IT, and compliance.
Formed in 2001, City Real Estate Advisors (CREA) is a full-service tax credit syndicator specializing in Low Income Housing Tax Credits, which provide equity for affordable housing throughout the United States. A wholly-owned subsidiary of City Financial Corporation, CREA is headquartered in downtown Indianapolis, IN, and has offices in Boston, MA, Austin, TX, and Portland, OR.
