R4 Metro Closing Release

Meridian Investments, Inc. is pleased to announce the initial closing of R4 Metro Housing Partners, LP. R4 Metro Housing Partners, LP will acquire interests in four affordable multi-family rental properties located in the Washington, DC region. When completed the four projects will result in the creation and preservation of 648 affordable housing units for families and seniors. Seven corporate investors participated in the closing of which three were first time R4 investors. The properties are located in Fairfax County, VA (1); Montgomery County, MD (1); and Washington, DC (2). One of the Washington, DC properties, St. Elizabeths, is the adaptive reuse of the historic St. Elizabeths Hospital and is an integral part of the District of Columbia’s master development plan for the area. R4 provided tax credit equity and tax- exempt bond financing to the St. Elizabeths project whose approximate development cost exceeds $108 million. With the closing, R4 Capital has surpassed more than $2.3 billion of tax credit equity under management for more than 65 investors.

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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