Stratford Capital Group has closed a $125 million low-income housing tax credit fund that will help finance 1,821 apartments in 15 affordable housing communities across the United States.
Stratford Fund 21 is investing in 12 family and three senior housing communities in nine states—Arkansas, Georgia, Louisiana, Michigan, Missouri, Pennsylvania, Tennessee, Texas, and Virginia.
The fund is comprised of eight institutional investors and co-investment by Stratford Capital.
“We’re extremely grateful for the high level of confidence and commitment exhibited by our investors during the closing of Fund 21. During these turbulent market conditions, the strength of our relationships and the ongoing loyalty of our investors, developer clients, and team members remain our most valuable assets,” said Ben Mottola, Stratford Capital president, in a statement.
Stratford Capital is a privately owned national real estate investment and development firm, with a focus on affordable rental housing. Its t multifamily rental housing portfolio consists of over 20,000 apartment units located in 32 states and the District of Columbia.
