Riverside Capital has recently closed a $64 million multi-investor low-income housing tax credit investment fund.
The proceeds of Riverside West Coast Partners 2018 will help finance 440 affordable housing units in California and Colorado. With the closing of the fund, Riverside has over $1 billion in assets under management.
Eight investors participated in the fund, which includes seven new investors and one repeat investor.
“We are pleased to announce the successful closing of Riverside’s first West Coast multi-investor fund. We appreciate the partnership of our investors, their trust in us, and their support in providing this much-needed affordable housing in supply-constrained markets,” said Josh Levy, senior vice president of investor relations.
Riverside Capital is a full-service tax credit investment company that has guided the financing and syndication for more than 7,700 affordable apartment homes across the country, representing over $1 billion of equity capital.
