With the closing of the 2016 Fund, Red Stone Equity has now raised $481 million of LIHTC equity for its LIHTC investment funds thus far in calendar year 2016. Since inception, Red Stone Equity-sponsored LIHTC funds have raised and invested more than $3.2 billion to finance the development of more than 23,000 units of affordable housing across 276 properties located in 32 different states, the District of Columbia and Puerto Rico.
"The successful execution of our sixth multi-investor LIHTC fund in five years secures Red Stone Equity's position as an established and consistent provider of quality multi-investor product within the tax credit industry," states Eric McClelland, President of Red Stone Equity.
About Red Stone Equity Partners, LLC
Red Stone Equity Partners, LLC ("Red Stone Equity") is a leading real estate investment firm specializing in the syndication of Low-Income Housing Tax Credits and Renewable Energy Tax Credits to facilitate the development of affordable multifamily rental housing and renewable energy projects, respectively. Red Stone Equity builds upon long-lasting relationships with investors and developers as it acquires, structures, and provides long-term asset management services to its institutional clients. Its senior management represents more than a combined 100 years of tax credit equity syndication experience, involving the acquisition and syndication of approximately $15 billion of tax credit equity. Red Stone Equity has offices in Boston, Charlotte, Chicago, Cleveland, Los Angeles and New York. For more information, please visit www.rsequity.com or www.linkedin.com/company/red-stone-equity-partners-llc.
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SOURCE Red Stone Equity Partners, LLC