Centerline Capital Group has closed two proprietary low-income housing tax credit (LIHTC) funds to raise approximately $70 million of equity.

The equity proceeds are intended to finance the production or preservation of eight affordable multifamily developments containing 615 affordable units.

The properties include four in Southern California as well as projects near Philadelphia, the Gulf Coast, central Pennsylvania, and Virginia.

Centerline-sponsored LIHTC funds have raised more than $9.8 billion of gross equity from investors over the years.