Red Stone Equity Partners closes its largest multi-investor fund offering to date

Red Stone Equity Partners, a real estate investment firm specializing in the syndication of low-income housing tax credits and renewable-energy tax credits, has closed its Red Stone Equity – Fund 95.

Fund 95 is a $233 million multi-investor Low Income Housing Tax Credit (LIHTC) investment fund and is the largest Red Stone Equity multi-investor fund offering to close since the company's inception.

The fund secured investments from nine different institutional investors – six repeat Red Stone Equity investors and three first-time investors.

Red Stone Equity will use the proceeds from Fund 95, along with other project-level financing sources, to finance the construction and/or rehabilitation of more than 1,700 units of affordable rental housing, spanning 24 properties in 12 different states.

“The closing of Fund 95 comes at a time when affordable housing is desperately needed,” said Stephanie Kinsman, managing director of investor relations at Red St