Red Stone Equity Partners has closed Red Stone Equity – Fund 113 Limited Partnership (Fund 113), a $263.2 million multi-investor Low Income Housing Tax Credit (LIHTC) equity investment fund.
Fund 113 is the 18th and largest multi-investor national LIHTC fund offering to close since the company’s inception and includes investments from 10 institutional investors, eight of which are repeat Red Stone Equity Limited Partners (LPs) and two of which are first-time Red Stone Equity LPs. Fund 113’s proceeds will be used, along with other project-level financing sources, to finance the construction and/or rehabilitation of 1,672 units of affordable rental housing contained within 19 properties and located across 11 different states.
In partnership with both for-profit and nonprofit development sponsors, Red Stone Equity structured Fund 113 to invest in a variety of affordable housing properties that will serve a diverse range of tenants and income levels, providing high
