FOR IMMEDIATE RELEASE
Hunt Capital Partners Closes $100 Million Tax Credit Fund
LOS ANGELES,May 23, 2017 – HuntCapital Partners(HCP) announced today the closing of a $100 million national low-income housing tax credit (LIHTC) fund,Hunt Capital Partners Tax Credit Fund 24, LP (HCP 24). The fund is investing in 11 family and four senior housing developments across nine states.
HCP 24 will provide equity to finance the rehabilitation and new construction of 14 housing developments and the conversion of an historic warehouse into housing units. Upon completion, these 15 developments will contain more than 2,000 housing units,including more than 500 housing units for seniors and 50 housing units for the homeless.
“Amidst a changing market environment, Hunt Capital Partners is continuing its commitment to fostering public/private partnerships that lead to the creation and preservation of affordable housing,” said Hunt Capital Partners President Jeff Weiss. “HCP 24 is the first multi-investor fund HCP has closed since the 2016 election. We are grateful to our investor and developer partners for working together to structure the fund given the tax rate uncertainty in the investment market.”
HCP 24 closed in April 2017 with six financial institutions participating as investor partners, five of which were repeat investor partners. Community Reinvestment Act (CRA) investor partners contributed 65 percent of the fund equity.
About HuntCapital Partners
Hunt Capital Partners (HCP) is the syndication division of Hunt Companies, Inc. (Hunt). HCP specializes in the syndication of Federal and State Low-Income Housing, Historic and Solar Tax Credits. Since the successful launch of its first fund in the fall of 2011, HCP has raised over $1.4 billion in tax credit equity. Founded in 1947, Hunt is a privately held company that invests in businesses focused in the real estate and infrastructure markets. The activities of Hunt’s affiliates and investees include investment management, mortgage banking, direct lending, loan servicing, asset management, property management, development, construction, consulting and advisory. For more information on Hunt Capital Partners, please visit www.huntcapitalpartners.com, or for Hunt Companies, please visit www.huntcompanies.com.
Public Relations Manager