NEW YORK, Jan. 9, 2025 /PRNewswire/ — R4 Capital, a national affordable housing tax-credit syndicator, lender, and asset manager, and R4 Capital Funding (R4CF), R4’s tax-exempt lending platform, announced today in 2024 it surpassed $10.6 billion in equity and mortgage financing since inception. This was a significant year marking the most equity closed in a single year, the largest mortgage loan volume closed in a single quarter, and the largest single asset equity investment in the Company’s history.
R4 Capital closed $860 million of equity in 2024 from 50 institutional investors, including 12 new R4 clients. “This is the most capital we have deployed in a single year, which is especially gratifying in lieu of the added challenge of an election year,” noted Jason Gershwin, Managing Director and Director of Fund Management. Since 2012, R4 has raised and manages more than $6.6 billion in LIHTC equity from 138 institutional investors across 37 multi-investor funds and 13 proprietary funds.
In 2024, R4CF provided $691 million of construction and permanent mortgage capital to build or preserve 3,828 units of affordable housing. Remarked R4CF President, James Spound, “2024 represents the platform’s second largest year of capital deployed in our nine-year history. Given the industry-wide challenges of rising interest rates with severe construction cost inflation, our accomplishment speaks to R4’s commitment to providing a highly responsive, streamlined, and creative mortgage platform benefiting both our investor and developer clients.” Since inception in 2016, R4CF has provided more than $4 billion in mortgage loans, financing the construction and preservation of over 24,500 units of affordable housing across 30 states and Washington, DC.
In 2024, R4 successfully closed 56 transactions across all business lines, driven by strong collaborations with both longstanding and new developer partners. This year also marked the closing of R4’s largest LIHTC equity investment to date, for which the Company raised $100 million from six investors to finance the construction of much-needed housing in the heart of Silicon Valley.
2024 is another milestone year for R4 Capital since inception in 2011. The firm is grateful for the shared commitment and ongoing loyalty of its developer and investor partners.
R4 Capital is a national affordable housing investor with expertise in LIHTC equity syndication, underwriting, asset management, and tax-exempt lending. Our growing portfolio includes more than 70,000 units of affordable housing.
SOURCE R4 Capital LLC
