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Red Stone closes $74M Fund for California Affordable MF’s
Red Stone Equity Partners LLC conducted the second and final closing of Red Stone Equity – 2018 CA Regional Fund, L.P., a $74-million multi-investor Low Income Housing Tax Credit (LIHTC) investment fund. The CA Fund is the first California-specific Red Stone Equity multi-investor fund offering, and includes investments from eight institutional investors.
The CA Fund’s proceeds will be used, along with other project-level financing sources, to finance the construction and/or rehabilitation of seven affordable housing properties in suburban, urban and rural areas of California. The properties, located within the cities of Antioch, Goshen, Oakland, Redding, San Diego, San Luis Obispo and Stockton, will provide 517 high-quality affordable homes to low-income households throughout the state.
Red Stone Equity’s Matt Grosz says, “This is the first fund that Red Stone Equity has raised to focus exclusively on the construction and/or rehabilitation of affordable housing in the state of California.”
*Pictured 5555 Hollywood, Los Angeles
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing




