Meridian Investments Closes Record $257.5 Million LIHTC Fund for R4 Capital
Meridian Investments, Inc. is pleased to announce the closing of R4 Housing Partners XIV, LP., a Section 42 Housing Tax Credit Fund.
BETHESDA, Md., July 2, 2020 /PRNewswire-PRWeb/ -- Meridian Investments, Inc. is pleased to announce the closing of R4 Housing Partners XIV, LP., a Section 42 Housing Tax Credit Fund. R4 Housing Partners XIV, LP raised $257.5 million of investor equity and will acquire interests in twenty-eight affordable multi-family rental properties located in fifteen states and the Commonwealth of Puerto Rico. Eleven corporate investors participated in the closing. When completed the twenty-eight projects will result in the creation and preservation of 2,758 affordable housing units for families and seniors.
R4 Capital is a nationwide syndicator, lender, loan servicer, and asset manager established in 2011 by its President and CEO, Marc Schnitzer. "Rising to meet the new COVID-19 business challenges to ensure the health and safety of everyone directly or indirectly involved and by partnering with our longstanding clients, we were successful in financing these much-needed projects", said Marc Schnitzer. "The Housing Credit is our nation's most successful tool for encouraging private investment in affordable rental housing and we thank the Congress for supporting this public – private partnership." Schnitzer continued.
R4 Capital's senior executive team has on average more than 25 years of Housing Tax Credit experience, with a track record that includes over $15 billion of LIHTC equity investments on behalf of more than 200 corporate investors. R4 Capital has continuing relationships with the nation's top LIHTC developers built over 30 years in more than 2,000 transactions. The firm maintains offices in New York, NY, Boston, MA, Newport Beach, CA, and Austin, TX.
Meridian Investments, Inc. was established in 1981 as a broker-dealer and financial advisor, with $21 Billion in equity placements to over 175 institutional investors. Meridian is active in both the primary and secondary LIHTC markets as well as wind and solar energy renewables and statutory tax advantaged investments. Meridian has offices in Boston, MA. (Braintree), Washington, D.C. (Bethesda, MD.) and Atlanta, Georgia. Meridian is a Board Member of the Affordable Housing Tax Credit Coalition.
Media Contacts & LIHTC Program Information Requests:
Rachel Tall, SVP | Director of Marketing, R4 Capital LLC ,780 Third Avenue, 16th Floor, New York, NY 10017, (O) +1 646 863-6815
Jack Casey, Vice Chairman, Meridian Investments, Inc. (301) 983-5000 Mobile 301-529-7889
Emily Cadik, Executive Director, Affordable Housing Tax Credit Coalition (202) 434-8287
SOURCE Meridian Investments, Inc.
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