LIHTC

R4 Capital, a national affordable housing tax-credit syndicator and asset manager, raised $447 million and closed on $386 million of Low-Income Housing Tax Credit (LIHTC) equity and added 32 properties to its portfolio in 2014.

In a recent report Understanding Whom the LIHTC Program Serves, HUD examines several years of demographic and economic data on LIHTC tenants provided by state housing finance agencies through an annual data collection process mandated by HERA.

HUD recently released new guidance regarding tenant protections for households when owners use both HUD-assistance (eg. Project-Based Section 8, Section 236, Section 202) and Low-Income Housing Tax Credits (LIHTC) financing.

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.

On Dec 11, 2014, House Ways and Means Committee chairman Rep. Dave Camp H.R. 1, released the Tax Reform Act of 2014 and U.S. Senate Senate Finance Committee Republican staff released the report “Comprehensive Tax Reform for 2015 and Beyond.” Both the legislation and the report have implications for the future of housing tax credits.

Housing credit properties are performing well across-the-board, including large, small, urban, and exurban projects, according to a new report from Cohn Reznick.

The National Council of Housing Market Analysts gathered this week in New Orleans for discussions as bright and energetic as the legendary holiday decorations that lit up historic Roosevelt Hotel where they took place. While NCHMA is largely made up for market analysts, the event attracted professionals from across the industry. Eight in-depth panels featured the voices of Housing Finance Agency representatives, developers, and syndicators, in additional to market analysts. The conference participants delved into issues that spanned from adjusting for potential Section 8 subsidy loss to identifying market red flags to strategies for Year 15 projects.

Florida Housing Finance Corporation (Florida Housing) is testing a new initiative to fund the renovation and retrofit of an older senior rental property in its portfolio to make it more supportive and user-friendly for the existing elderly residents so that they can better “age in place.”

The 2014 mid-term elections are almost over and by any measure they were a victory for Republicans in both the House and Senate. Republicans will gain control of the Senate with no less than 52 seats in the chamber and the potential to hold as many as 55 depending on the final results in Virginia, Louisiana, and Alaska. David Gasson explores what this means for affordable housing…

With just two months remaining, it appears 2014 will turn out to be a banner year for the low-income housing tax credit (LIHTC) market in terms of the total volume of equity raised, even as syndicators are being squeezed on profitability, and yields on multi-investor funds continue to fall.

NH&RA member firm California Commercial Investment Group, Inc. (CCI), a California-based national affordable housing preservation and development firm, recently celebrated the Grand Opening of Fickett Towers Senior Apartments in Van Nuys, CA

Collection of State Housing Finance Agency from across the nation for the week of October 27.