Hunt Capital Partners announced the financial closing of a $123.5 million national low-income housing tax credit (LIHTC) multi-investor fund.
Hunt Capital Partners Tax Credit Fund 31 is investing in the new construction and renovation of 12 multifamily and three senior housing developments located across six states. Upon completion, these properties will provide 1,155 apartment homes, including 21 tribal units, and many will offer supportive services to residents. Fund 31 closed in July with nine repeat investors and one new investor partner. Community Reinvestment Act investor partners contributed about 50% of the fund equity.
“Our team continues to be very successful creating value for our partners by linking debt and equity opportunities together to attract investors,” said Hunt Capital Partners president Jeff Weiss. “We have closed a total of $225 million in LIHTC equity financing to date in 2019.”
Hunt Capital Partners has also closed one new proprietary account and expanded existing proprietary funds with JPMorgan Chase, BBVA, and Citi Community Capital for a total of $86 million through July 31. Additionally, the company closed $25.6 million in state tax credits.
Today, Hunt Capital Partners manages a total of nine multi-investor funds and 16 proprietary investor funds and has raised over $1.9 billion in tax credit equity since the closing of its first fund in 2011.
