Alden Capital Partners (ACP) announced the closing of a $117.7 million low-income housing tax credit equity fund comprised of 16 affordable housing properties in nine states.
Alden Capital Partners Tax Credit Fund 20 (ACPTCF 20) features 11 family developments and five senior housing communities.
“The hallmark of ACPTCF 20 is the creation and preservation of affordable housing for thousands of residents across the country,” said Jeff Weiss, ACP president, in a statement. “Through this transaction, more than 1,200 units will be available to residents who make at or below 60% of their area’s median income. None of this would have been possible without our investors and development partners.”
Six institutional investors, representing the financial and insurance sectors, participated in the latest fund.
A division of Alden Torch Financial, ACP specializes in the syndication of federal and state low-income housing, historic, and solar tax credits and has raised over $1.1 billion in tax credit equity.