LOS ANGELES, June 18, 2020 – Hunt Capital Partners (HCP) announced today the closing of a $116.6 million national low-income housing tax credit (LIHTC) fund, Hunt Capital Partners Fund 37, LP (HCP 37). The fund is investing in 13 family and three senior housing developments across nine states.
HCP 37 will provide equity to finance the rehabilitation and new construction of 16 housing developments, including the conversion of a historic milk factory into affordable housing homes. Upon completion, these 16 developments will contain more than 1,500 homes. An estimated 20 percent of the homes are for families and seniors earning less than 40 percent of the area median income, and an additional 45 percent are for those earning less than 50 percent of the area median income.
“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 Managing Director Amy Dickerson. “HCP 37 was underwritten during the COVID-19 pandemic. In a time where the need for affordable housing is more critical than ever, we are grateful to our investor and developer partners for their commitment to affordable housing and for working together remotely to successfully close this fund.”
HCP 37 closed in June 2020 with nine financial institutions participating as investor partners, seven of which were repeat investor partners. Community Reinvestment Act (CRA) investor partners contributed 59 percent of the fund equity.
To date, Hunt Capital Partners has raised over $2.2 billion in tax credit equity in over 40 proprietary and multi-investor funds. The firm manages nearly 800 project partnerships, representing over 80,000 homes in 51 states and territories.
About Hunt Capital Partners
Hunt Capital Partners (HCP) is the tax credit syndication division of Hunt Companies, Inc. (Hunt). HCP specializes in the sponsorship of Federal and State Low-Income Housing, Historic, and Solar Tax Credit Investments funds. Since inception in 2010, HCP has raised over $2.2 billion in tax credit equity in over 40 proprietary and multi-investor funds. Hunt Capital Partners manages almost 800 project partnerships representing over 80,000 homes in 51 states and territories. 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 investors include investment management, mortgage banking, direct lending, loan servicing, asset management, property management, development, construction, consulting and advisory. For more information on HCP, please visit www.huntcapitalpartners.com, or for Hunt, please visit www.huntcompanies.com.