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New York & Tri-State  + Midtown New York  + Apartments  |  July 17, 2026
Paul Bubny
By: Paul Bubny

Greystone Real Estate Capital Closes on Second Affordable Housing Fund

Greystone Real Estate Capital has closed on Greystone Affordable Housing Fund II LP, a $137-million multi-investor Low-Income Housing Tax Credit (LIHTC) fund. The fund will support the development and preservation of approximately 1,960 affordable housing units across 20 properties in nine states.

Approximately 84% of the equity is for developments by repeat developers. The portfolio consists of a balanced mix of 60% new construction and 40% rehabilitation projects, supporting both the creation of new housing and the preservation of existing affordable communities.

“Fund II marks another important milestone in the growth of our affordable housing platform,” said Todd Jones, CIO at Greystone Real Estate Capital. “In less than a year, we have closed on more than $240 million of multi-investor fund equity, established 13 new LIHTC institutional investor relationships through our multi-investor and proprietary LIHTC fund offerings, and partnered with some of the industry’s most respected affordable housing developers.”

Read More News Stories About: Greystone
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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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