RBC Capital  Markets’ Tax Credit Equity Group announced the closing of a $119.7 million equity fund that will help finance 18 low-income housing tax credit (LIHTC) properties in 13 states.

The properties will feature 1,454 units of affordable housing within 15 multifamily, one mixed multifamily and seniors, and two seniors developments. They are located in Arizona, California, Kentucky, Massachusetts, Minnesota, Missouri, New York, North Carolina, Pennsylvania, South Carolina, Texas, Virginia, and Washington.

Five institutional investors participated in RBC Tax Credit Equity National Fund 20.

A LIHTC syndicator, RBC Capital Markets’ Tax Credit Equity Group has raised more than $5.4 billion of equity for affordable multifamily and senior housing, historic and new markets developments, representing more than 780 properties and in excess of 66,000 units.