NEWS HEADLINES

CREA Increases Its LIHTC Activity

City Real Estate Advisors, Inc. (CREA), reported increasing its low-income housing tax credit equity production and investor closings by about 35 percent for the fiscal year ending Sept. 30 over the prior year.

Investor equity was raised for proprietary and multi-investor national funds. Tony Bertoldi, senior vice president of syndications, said the firm achieved the increase, in part, through the addition of several new investors.

In fiscal 2010, the firm reported closing 25 separate partnerships in six states, including California and Florida.

A subsidiary of City Financial Corp., Inc., CREA also expects to close a $100 million multi-investor national fund and two Indiana Economic Funds utilizing 1602 funds combined with investor equity in the fourth quarter.

CREA also reported that K. Nicole Flores has joined the firm as senior vice president of acquisitions in the Austin, Texas, office.

The syndicator also has offices in Indianapolis and Boston.