R4 Jacksonville Closing Release

 

Meridian Investments, Inc. is pleased to announce the closing of R4 Jacksonville Housing Partners, LP. R4 Jacksonville Housing Partners, LP will acquire interests in four affordable multi-family rental properties located in Jacksonville. When completed the four projects will result in the creation and preservation of 768 affordable housing units for families. Two existing corporate investors participated in the closing, which totaled approximately $41 million. R4 provided tax credit equity and tax- exempt bond financing to the four projects whose approximate development costs exceed $136 million.

 

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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