Berkadia announced the closing of a $100 million multi-investor low-income housing tax credit (LIHTC) fund.
Berkadia Housing Partnership XV 2025 will help finance the development and rehabilitation of 434 affordable housing units across six properties in five states, including California, Colorado, Maryland, Virginia, and Rhode Island.
The fund is comprised of six investors from the banking and insurance industries and six very experienced non-profit and for-profit housing developers. The four new construction and two rehabilitation developments will provide housing for families and seniors earning between 30%-80% area median income (AMI).
“The closing of the Berkadia Housing Partnership XV 2025 LIHTC fund is evidence of the industry’s continued investment in the LIHTC program, which boosts local economies, enhances communities and changes people’s lives for the better,” said Dave Leopold, EVP and Head of Berkadia Affordable Housing. “We are grateful for our partnerships with these new and repeat investors and developers, as well as the opportunity to deliver capital in markets that are very much in need of affordable housing.”
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