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 6 properties in 5 states – California, Colorado, Maryland, Virginia, and Rhode Island.
The LIHTC Multifamily 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 benefits of these developments go beyond the housing itself, offering supportive services to residents and strengthening and improving the communities in which they are located.
EVP and Head of Berkadia Affordable Housing Dave Leopold had the following to say about the fund closing:
“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 peoples’ lives for the better. We are grateful for our partnerships with these new and repeat investors and developers, and the opportunity to deliver capital in markets that are very much in need of housing that is affordable.”
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
