Affordable housing fund raises $58m

Merritt Community Capital Fund XXI, an institutional low-income housing tax credit fund sponsored by LIHTC syndicator Merritt Community Capital Corp., has raised $58 million to date from seven investors, according to a recent SEC Form D filing.

The Oakland, Calif.–based firm is seeking to raise $125 million, according to the filing.

In December 2018, the firm closed Merritt Community Capital Corporation Fund XX, raising $42 million that was used to develop more than 400 affordable housing units in California.

Merritt Community Capital Corp., a nonprofit corporation, has raised more than $900 million in 21 multi-investor funds since its inception in 1989. The firm seeks to provide equity capital for quality, affordable housing in California. Investments range from new construction to acquisition/rehabilitation to adaptive reuse.

Merritt is the W