SAN FRANCISCO (PRWEB) February 05, 2020
Align Finance Partners, LLC, a private equity real estate debt fund manager, has raised over $130 million for its tax-exempt bond fund, Align Affordable Housing Bond Fund, L.P. (“Align Fund”). Launched in 2018, the Align Fund is the first closed-end investment vehicle for Align Finance Partners. The Fund is being formed for the purposes of acquiring, originating and securitizing tax-exempt bonds issued in connection with the acquisition, development, renovation and operation of affordable housing properties.
The Align Fund’s management team will utilize its experience in financing, developing, owning and operating affordable housing properties throughout the United States and its relationships with affordable housing owners to originate the tax-exempt bonds. A majority of the management team members have worked and invested together in affordable housing since 2011, and currently own and operate a portfolio of over 16,000 affordable housing units across the United States.
The capital was raised by Align Finance Partners' in-house team.
Dani Evanson, Principal and Investment Committee Member at Align Finance Partners, commented: “We formed our company to offer investors the opportunity to invest in affordable housing and provide financing for critically needed affordable housing. We believe the investment world is demanding more investment opportunities in affordable housing, and the affordable housing community needs more access to funding.”
Steven Fayne, Chief Loan Originator and Investment Committee Member at Align Finance Partners, commented: “This unique product comes at a crucial moment, with many major U.S. cities in the midst of an affordable housing crisis. Nationwide, cities are losing affordable housing units each year while the demand is rapidly increasing. Align has created loan programs that are unique and address the needs of the affordable housing borrower community. We intend for Align to be the most innovative tax-exempt lending platform, with flexible solutions to meet borrowers’ needs.”
About Align Finance Partners
Align Finance provides interest-only and amortizing, fixed-rate, tax-exempt financing for qualified borrowers in connection with the acquisition, development or refinancing of affordable multifamily communities. Align Finance specializes in structuring and offering unique financing solutions to owners and developers of affordable housing.
Ms. Dani Evanson
Align Finance Partners, LLC