Raymond James Tax Credit Funds (RJTCF) announced it has completed syndication of a $72.5 million low-income housing tax credit (LIHTC) fund that will finance the construction or rehabilitation of affordable housing throughout California.

The Raymond James California Housing Opportunities Fund III was fully subscribed with 10 investors.

The fund is financing the development of 628 units in six affordable housing developments in Long Beach, Sacramento, San Diego, San Francisco, San Jose, and Santa Monica.

A LIHTC syndicator, RJTCF has provided nearly $400 million in tax credit equity to 38 affordable housing developments throughout California since 2010.