RBC Capital Markets Tax Credit Equity Group announced the closing of a $127.6 million low-income housing tax credit fund.
RBC Tax Credit Equity National Fund—21 consists of 19 affordable housing tax credit properties in 11 states and Puerto Rico, resulting in 1,529 units of affordable housing within 14 family and five senior developments.
Six institutional investors participated in the fund.
The properties are located in California, Florida, Georgia, Minnesota, Missouri, New York, North Carolina, Puerto Rico, South Carolina, Tennessee, Texas, and Wyoming.
RBC Capital Markets Tax Credit Equity Group has raised $5.9 billion of equity for affordable multifamily and senior housing, historic, and New Markets developments, representing more than 780 properties and in excess of 65,000 units.