– Fund 113 Overview: Closed at $263.2 million as Red Stone Equity’s largest multi-investor Low-Income Housing Tax Credit (LIHTC) equity fund to date.
– Investor Participation: Includes 10 institutional investors, eight returning and two first-time investors.
– Housing Impact: Financing construction and rehabilitation of 1,672 affordable rental units across 19 properties in 11 states.
– Diverse Housing Solutions: Investments span new construction, renovations, and adaptive re-use projects, serving families, seniors, veterans, individuals with disabilities, and other special needs populations.
– Energy and Inclusivity Focus: Eight properties qualify for federal energy tax credits; nine developed by Minority or Women-owned Business Enterprises (M/WBEs).
– Track Record: Red Stone Equity raised over $1.3 billion in LIHTC equity capital in 2024, including the $256.3 million Fund 111.
– Public-Private Partnerships: Demonstrates the critical role of LIHTC programs in addressing the national affordable housing crisis.
– Corporate Milestones: Since 2007, raised over $11 billion, financing 750+ affordable housing communities and supporting ESG and DEI initiatives.
– Ryan Sfreddo, CEO: “We are very pleased to announce the closing of our largest multi-investor LIHTC fund vehicle to date and which will bring high-quality affordable housing to more than 1,600 households in 19 different communities across our nation.”
– Stephanie Kinsman, Managing Director of Investor Relations: “The successful closings of Fund 111 and Fund 113 are a testament to the power of public-private partnerships, and highlight the importance of the LIHTC program.”
