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Real Estate - DECEMBER 3, 2021

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Enterprise Community Partners raises $365m for low-income housing tax credit funds

by Kali Persall

Enterprise Community Partners has closed two of its low-income housing tax credit funds — Enterprise Housing Partners Funds XXXVI (EHP 36) and XXXVII (EHP 37) — with a total of $365 million in equity commitments.

The firm said 17 investors participated in the capital raise. The funds will help create and preserve 3,526 affordable rental homes across 35 properties in 17 states.

These are the third and fourth in a series of multi-investor housing credit funds Enterprise has closed in 2021, bringing the combined total investment this year to $800 million in nearly 8,000 affordable rental homes across the country.

“As rents continue to rise, the low-income housing tax credit remains our most powerful tool for creating affordability in every type of community,” said Scott Hoekman, president of Enterprise’s housing credit investments business. “Our investors come to us with the intent to make a real impact, and with their support we are able to channel cri

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