R4 Capital Closes $80M LIHTC Fund

 

NEW YORK, NY – June 4, 2012 – R4 Capital, a national affordable housing tax-credit syndicator, announced today that it closed on the initial $80 million of a $100 million multi-investor Low-Income Housing Tax Credit fund.

The $100 million R4 Housing Partners LP Fund comprises 15 properties in 10 states and Washington DC and will provide 1,459 affordable housing units.

“In a highly competitive market our investors expressed their confidence in the R4 Capital team,” said Marc Schnitzer, President of R4 Capital. “By proving the ability to raise investor capital in our first year of business, we have shown that R4 Capital is a reliable and competitive source of tax-credit equity for developers,” added Mr. Schnitzer.  

The Fund portfolio is made up of properties across the US; 73% of the portfolio represents projects where an R4 Capital senior executive had completed prior transactions with a developer or consultant involved in the new R4 Housing Partners Fund. Meridian Investments Inc. acted as placement agent for the Fund, and Nixon Peabody LLP served as legal counsel in forming the Fund.

Mr. Schnitzer and the Regis Group of London formed R4 Capital in 2011. The firm is part of Regis USA, an integrated group of residential real estate entities that encompass housing tax-credit investment, third-party property management, and multifamily financial advisory services. The senior executives of R4 Capital have been responsible for originating, underwriting, and managing over $12 billion of LIHTC investments, for more than 100 corporate investors, in over 2,000 LIHTC transactions.  R4 Capital has offices in New York, Boston, and Santa Ana, CA.

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About R4 Capital LLC

R4 Capital LLC is a privately held national affordable housing tax-credit investment management firm, with offices in New York, Boston, and Santa Ana, CA. It is a subsidiary of the Regis Group PLC (“Regis”) of London (www.regisplc.com), a 60-year-old residential property investment firm with more than $14 billion of US multifamily assets under management. In the US, Regis operates through Regis USA, an integrated group of multifamily and residential real estate companies that includes R4 Capital, Riverstone Residential Group (www.riverstoneres.com) and Recap Real Estate Advisors (www.recapadvisors.com). For more information please go to the R4 Capital website at www.R4cap.com, or contact Elizabeth Haukaas, Hawkhill & Maxim Corporate Communications, at 212 472 4241 or emaxim@nyc.rr.com.

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.

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