Greystone’s new $137M fund lands as LIHTC investment rises
Greystone raised $137 million for a second multi-investor LIHTC fund in less than a year and now exceeds $240 million in total equity. The fund targets 1,960 units across 20 properties in nine states.
Greystone's new $137 million fund is a significant development in the affordable housing sector, particularly in the context of Low-Income Housing Tax Credit (LIHTC) investments. The fact that the company was able to raise this amount in less than a year speaks to the growing demand for affordable housing and the increasing interest in LIHTC investments. This trend is likely driven by the need for more affordable housing units, as well as the tax benefits and social impact that come with LIHTC investments.
The new fund will be used to finance 20 properties with a total of 1,960 units across nine states. This will not only provide much-needed affordable housing but also help to revitalize communities and support local economies. The growth of LIHTC investments is also a reflection of the increasing importance of affordable housing in the US, with many investors and developers recognizing the need for more affordable housing options. As the affordable housing landscape continues to evolve, it's likely that we'll see more investors and developers entering the LIHTC market.
What's worth watching next is how Greystone's new fund performs and whether it sets a precedent for future LIHTC investments. Additionally, industry stakeholders will be keeping an eye on any changes to LIHTC policies or regulations that could impact the growth of this market. With the ongoing need for affordable housing, it's likely that LIHTC investments will continue to play a critical role in addressing this issue, and Greystone's new fund is just one example of the many efforts underway to make a positive impact.
Originally reported by housingwire.com. ASIDNews adds analysis for real estate & property readers.