LOS ANGELES, Dec. 21, 2021 – Hunt Capital Partners (HCP) is pleased to announce the closing of a $122.6 million national low-income housing tax credit (LIHTC) fund, referred to as Hunt Capital Partners Tax Credit Fund 43, LP (HCPTCF 43). This is the second multi-investor fund HCP has closed in 2021.
HCPTCF 43 is investing in a mix of senior and family housing developments that will create 1,032 affordable homes across nine states sponsored by both non-profit and for-profit development partners. Tax credit equity syndicated through HCPTCF 43 will help complete three historic restoration projects, preserving culture while also creating new housing that enables social and economic upward mobility for underserved populations. Ten of the developments added units for those with visual, hearing and other physical accessibility needs, while eight will offer supportive services. Homes are also built with green features— such as Energy Star appliances, low flow WaterSense fixtures, high-efficiency lighting, a solar photovoltaic (PV) system, and a back-up generator—to enable positive environmental impact and energy conservation.
Rents for units in the fund are on average 35 percent below comparable market rate units. Some units have as much as a 77 percent rent advantage. Additional subsidy support was provided for 39 percent of the homes created in the fund.
“This fund introduced and preserved over one thousand affordable homes,” said Amy Dickerson, Managing Director, Investor Relations at Hunt Capital Partners. “We’re happy to have worked with our for-profit, non-profit, Housing Authority, and investor partners to provide homes that are needed more than ever before. The closing of our multi-investor fund, HCPTCF 43, also represents our second multi-investor fund closing in less than 12 months.”
In addition to HCPTCF 43 closing in December, Hunt Capital Partners Tax Credit Fund 41, LP (HCPTCF 41) closed in May of this year, raising $132,135,000 in equity and creating 1,606 affordable homes. HCPTCF 41 and 43 raised equity from 15 different investors, including 13 financial institutions and 11 repeat investors.
Environmental Social and Corporate Governance (“ESG”) Investing
Hunt Capital Partners recognizes that its institutional investors are seeking to increase the social value of their investments to help further their ESG initiatives. An investment in affordable housing not only improves the living conditions of its residents, but it also helps to remove obstacles that stand in the way of creating a healthy, safe and stable home environment for low-income families and seniors. When families spend less on housing related expenses, they have more resources available for other essentials such as food and clothing, or even extracurricular activities and educational programs. One of the most significant benefits to providing quality affordable housing is an increase in an individual’s physical and mental health. Hunt Capital Partners’ affordable housing investments create a lasting effect on the people and communities they serve for generations to come.
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 its inception in 2010, HCP has raised over $2.6 billion in tax credit equity in over 43 proprietary and multi-investor funds. HCP manages almost 760 project partnerships representing over 75,000 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, 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.