RBC Capital Markets' Tax Credit Group announced the closing of a $127 million low-income housing tax credit fund.
RBC Tax Credit Equity National Fund 17 was funded with seven institutional investors.
It consists of 19 affordable housing properties in 15 states. The 15 multifamily and four seniors housing developments will provide 1,046 affordable units. The properties are estimated to create 1,265 jobs during the first year of development and 316 ongoing jobs.
The developments are located in Arizona, Colorado, Florida, Georgia, Michigan, Minnesota, Missouri, New Hampshire, New Mexico, North Carolina, North Dakota, Tennessee, Texas, West Virginia, and Washington.