The Richman Group Closes The Financing Of $850 Million Of Affordable Housing Tax Credit Properties Over The Summer Of 2021

The Richman Group Affordable Housing Corporation, historically the nation's leading sponsor of equity funds for affordable housing, announced it closed financing of $850 million of affordable housing tax credit properties over the summer of 2021 through three multi-investor institutional funds. The funds will provide more than $400 million in equity for the acquisition, rehabilitation and/or new construction of over 50 properties located throughout the United States. Institutional investors in the funds included some of the nation's leading banks and insurance companies.