On October 25, 2017, RBC Capital Markets Tax Credit Equity Group announced the closing of the RBC Tax Credit Equity National Fund-26 with total tax credit equity of $146,435,718. The Fund represents the third closing of a multi-investor, multi-property national fund in 2017 and speaks to the strength of investor confidence in RBCCM’s tax credit equity syndication platform. RBCCM-TCEG has raised a total of $750 million in tax credit equity so far in 2017, with $378 million from the three national fund closings.
RBCCM thanks the nine institutional investors for their participation in the Fund. RBCCM’s commitment in the Fund was evidenced by our own $3.3MM direct investment and a $7.2MM investment by City National Bank, an RBC affiliate.
The Fund will comprise investments in 16 Low Income Housing Tax Credit (LIHTC) eligible multi-family and senior apartment communities representing 1,349 units of affordable housing in the following 10 states:
| Arizona | Maryland | New York |
| California | Massachusetts | South Carolina |
| Connecticut | Minnesota | Texas |
| Georgia | ||
RBCCM Tax Credit Equity Group has raised over $8 billion of equity for affordable multi-family and senior housing, historic and new markets developments, and has 893 assets and 75,623 housing units under administration. We are an active syndicator in the LIHTC market looking to partner with developer clients on additional investments in affordable housing nationwide.
