Source: Meridian Investments
BETHESDA, MD - Meridian Investments announced the closing of R4 Housing Partners XIV, LP., a Section 42 Housing Tax Credit Fund. R4 Housing Partners XIV, LP raised $257.5 million of investor equity and will acquire interests in twenty-eight affordable multi-family rental properties located in fifteen states and the Commonwealth of Puerto Rico. Eleven corporate investors participated in the closing. When completed the twenty-eight projects will result in the creation and preservation of 2,758 affordable housing units for families and seniors.
R4 Capital is a nationwide syndicator, lender, loan servicer, and asset manager established in 2011 by its President and CEO, Marc Schnitzer. “Rising to meet the new COVID-19 business challenges to ensure the health and safety of everyone directly or indirectly involved and by partnering with our longstanding clients, we were successful in financing these much-needed projects”, said Marc Schnitzer. “The Housing Credit is our nation’s most successful tool for encouraging private investment in affordable rental housing and we thank the Congress for supporting this public – private partnership.” Schnitzer continued.
R4 Capital’s senior executive team has on average more than 25 years of Housing Tax Credit experience, with a track record that includes over $15 billion of LIHTC equity investments on behalf of more than 200 corporate investors. R4 Capital has continuing relationships with the nation’s top LIHTC developers built over 30 years in more than 2,000 transactions. The firm maintains offices in New York, NY, Boston, MA, Newport Beach, CA, and Austin, TX.