City Real Estate Advisors, Inc. (CREA), has announced the closing of its latest low-income housing tax credit fund after raising $73.2 million from eight investors, four of which are new to the firm.
CREA Corporate Tax Credit Fund XXXII is fully specified with 16 properties in 11 states.
The fund offered three investment classes—Premium (7.35 percent), Class A1 (7.25 percent), and Class A2 (7.05 percent).
CREA is a full-service tax credit syndication that provides equity for affordable housing throughout the United States. Since its inception in 2001, it has raised more than $1.5 billion in investor equity.