Member News

Boston Capital announced the closing of Boston Capital Corporate Tax Credit Fund XL, a nationally diversified portfolio of 21 affordable apartment properties in 13 states with a fund size of $120 million.

Candeur Group announced the addition of Leah Wood to their team as Director of Asset and Portfolio Management. Ms. Wood has 10 years of real estate experience including 7 years in the affordable housing industry.

Klein Hornig LLP welcomed three new attorneys, Steve Paul, Katie Day, and Ben Funk, to its tax practice.

NH&RA signed on the Housing Assistance Council’s campaign to encourage appropriators in Congress to support the U.S. Department of Housing and Urban Development’s HOME Investment Partnerships Program.

Market analysts and industry peers gathered for the NCHMA Spring Meeting to discuss ways to streamline and improve U.S Department of Housing and Urban Development (HUD) and LIHTC underwriting market analysis. Participants also considered ways market analysts could collaborate better with industry partners and clients.

Lisa Pekkala, Andrew Massmann, and Lance F. Johnson joined the Affordable Housing and Community Development practice at Applegate & Thorne-Thomsen.

Nixon Peabody announced Sonia A. Nayak has been promoted to counsel in its Real Estate & Community Development department.

Red Stone Equity Partners raised $510 million of tax credit equity in 2014. In addition, 2014 stands as the year that Red Stone surpassed $2.0 billion in total equity raised since its inception in 2007.

A new partnership between the Community Development Trust (CDT) and TIAA-CREF announced they will jointly invest $20 million to help preserve a total of 555 affordable housing units in six cities. This initial investment covers eight first mortgages on Low-Income Housing Tax Credit (LIHTC) properties in California.

Candeur Group, LLC and Steven Fayne, former Managing Director in Citigroup’s affordable housing division, have formed a joint venture, Candeur Fayne, LLC. The new partnership will focus on affordable housing lending and investing activities including a CDFI lending facility, Low-Income Housing Tax Credit investing partnerships, and other investment banking products.

Boston Capital announced that it is investing in the construction of Patriot Homes, a 24-unit apartment community for individuals and families with a preference for veterans in Boston, Massachusetts. The general partners for this project are Caritas Communities and South Boston Neighborhood Development Corporation, based respectively in Braintree and Boston, MA.

The Franklin Johnston Group welcomed Christen Faatz, as the new Director of Corporate Strategy, and Theresa Cummings, as the Director of Human Resources.