On October 11, 2018, RBC Capital Markets Tax Credit Equity Group announced the closing of the RBC Tax Credit Equity National Fund-28 with total tax credit equity of $185,886,824. This represents RBCCM-TCEG’s third multi-investor fund closing in 2018 with total tax credit equity raised through this channel of $397 million.
The Fund is comprised of investments in 18 Low Income Housing Tax Credit (LIHTC) eligible multifamily and senior apartment communities representing 2,432 units of affordable housing in the following 15 states: Alabama, Arizona, Arkansas, California, Colorado, Georgia, Maryland, Minnesota, Montana, New York, North Carolina, Oklahoma, Pennsylvania, Texas and Washington.
RBC Capital Markets Tax Credit Equity Group provides equity capital by utilizing the Federal Low Income Housing Tax Credit, State Low Income Housing Tax Credit, Historic Tax Credit and Renewable Energy Tax Credit programs. Since its inception, RBCCM-TCEG has raised over $9.6 billion of equity for affordable multi-family and senior housing, historic and new markets developments, and has 936 assets located in 47 states, the District of Columbia, Puerto Rico and represents 81,965 housing units under administration
