On May 12, 2017, RBC Capital Markets Tax Credit Equity Group announced the closing of the RBC Tax Credit Equity National Fund-25 with total tax credit equity of $160,130,728. The Fund represents the first launch and 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 in challenging market conditions.
RBCCM thanks the nine institutional investors, including one new investor client, for their participation in the Fund. RBCCM’s commitment in the Fund was evidenced by our own $10MM direct investment and a $15MM investment by City National Bank, an RBC affiliate.
The Fund will comprise investments in 21 Low Income Housing Tax Credit (LIHTC) eligible multi-family and senior apartment communities representing 1,471 units of affordable housing in 14 states.
RBCCM Tax Credit Equity Group has raised over $7.4 billion of equity for affordable multi-family and senior housing, historic and new markets developments, and has 873 assets and 74,000 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.
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