Meridian Closes Secondary LIHTC Offering

 

Meridian Investments, Inc (“Meridian”) is pleased to announce the closing of a LIHTC secondary offering totaling approximately $48.7 million. Meridian represented a large super regional bank in the sale of five multi-investor limited partnership fund interests, sponsored by multiple syndicators. Despite the recent market uncertainty and negative impact on the value of existing LIHTC holdings resulting from tax reform, Meridian worked with the seller to identify a group of limited partnership fund interests that would be attractive to prospective purchasers and result in the seller achieving a gain on sale for GAAP accounting purposes. The portfolio attracted bids from multiple investors and closed with a single investor in less that ninety days from commencement of offering.

 

Fact

Since its inception in 1986, the Low Income Housing Tax Credit (LIHTC) program has helped meet U.S. affordable housing demands by stimulating the production of nearly 2.4 million affordable homes and supporting an estimated 95,000 jobs annually.

Contact

We would like to hear from you. Please send us any questions or inquiries, and we will get back to you as soon as possible.

By submitting this form, you accept the Mollom privacy policy.