CREA has closed a $250 million low-income housing tax credit (LIHTC) fund that will support the creation or rehabilitation of 17 developments across the country.
These developments will provide 1,896 affordable homes in Arizona, California, Georgia, Illinois, Indiana, Louisiana, Massachusetts, Michigan, New York, Oklahoma, Texas, and Wisconsin.
CREA Corporate Tax Credit Fund 120 includes $238.5 million in federal equity and $11.5 million in state equity.
The fund was supported by nine returning investors and 16 primary developer partners, including 13 repeat developers.
“Fund 120 reflects the trust our investors and developers place in CREA,” said Tom Pereira, executive vice president, production. “That trust is built through a consistent, transparent process, allowing us to deliver meaningful, lasting impact in communities across the country.”
A longtime LIHTC syndicator, CREA has raised over $13.5 billion in equity and has properties under management in 49 states, three U.S. territories, and Washington, D.C. CREA is headquartered in Indianapolis with offices in Boston, New York, and San Diego, California.
