Red Stone Closes $105 Million LIHTC Fund

Red Stone Equity Partners, LLC, announced the closing of its latest low-income housing tax credit (LIHTC) fund.

Red Stone-2011 National Fund, L.P., is a $105 million multi-investor fund that will help finance the construction and/or rehabilitation of 1,131 units of affordable housing in 17 properties across 10 states.

“With the closing of this fund, Red Stone-sponsored LIHTC programs have raised and invested more than $850 million since 2008,” said President Eric McClelland in a statement. “Given our other ongoing LIHTC fundraising and investing activities currently in our pipeline, Red Stone anticipates reaching the $1 billion mark by year end.”