Cinnaire announced the closing of a $307 million Low-Income Housing Tax Credit (LIHTC) equity fund, the second largest investment in the organization’s history.
Cinnaire’s Fund for Housing Limited Partnership 45 (Fund 45) will finance the creation and preservation of 2,259 affordable housing units across 27 properties in ten states, directly benefiting 5,196 residents. Fund 45 will support multifamily housing development in Delaware, Illinois, Indiana, Maryland, Maine, Michigan, Minnesota, Pennsylvania, Virginia, and Wisconsin. Across the fund’s 27 properties, 3,432 bedrooms will be created or preserved, including 1,011 units designated as affordable for seniors and 114 units dedicated to at-risk or underserved populations.
“Affordable housing at this scale is only possible through strong public-private partnerships and investors who are committed to creating lasting community impact,” said Matt Hodges, Senior Vice President and Managing Director, Investor Relations at Cinnaire. “Fund 45 brings together mission-driven capital, housing developers, state housing agencies, and local communities around a shared goal: expanding access to quality affordable housing.”
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