City Real Estate Advisors (CREA) announced closing $430 million in investor equity in 2014 and raising another $45 million from investors in transactions that will close in the first quarter of this year.
The low-income housing tax credit syndicator raised the equity through a number of investor outlets, including two of the firm’s largest national funds, multiple proprietary funds, a Hawaii state fund, and several secondary transactions.
CREA leaders said they expanded its investor base by adding five new investors in 2014. They also added 18 new developer relationships, expanding its national footprint to 38 states, including Alaska, Hawaii, and the Virgin Islands. In addition, the company added 10 employees last year.
"The confidence that our investors and developers place in us is of paramount importance to our team, and we are extremely grateful for the faith and trust that our clients place in CREA," says Jeff Whiting, president and CEO.
Formed in 2001, CREA is headquartered in Indianapolis and has offices in Boston; Austin, Texas; and Portland, Ore. The firm has raised more than $2.4 billion in investor equity over the years.
