Walker & Dunlop has closed its Fund 124, a $240 million multi-investor Low-Income Housing Tax Credit (LIHTC) investment fund aimed at advancing affordable housing solutions in 15 key markets across the United States.
The largest Walker & Dunlop LIHTC fund to date, Fund 124 will support the development of 18 properties in 10 states: California, Connecticut, Florida, Idaho, Kansas, Maryland, Michigan, Missouri, Texas and Utah, totaling 1,701 affordable housing units. This fund will provide critically needed housing while also creating a significant local economic impact.
The Walker & Dunlop Affordable Equity team, led by Dudley Benoit, Peter Antonopoulos, Elizabeth Ronayne, Caitlin Crowe, Bob Rice, Edward Jenkins, Emily Moraga and Marcus Law, arranged the fund.
The development of these properties will create approximately 4,542 jobs and generate an estimated $898 million in economic impact, strengthening local economies and communities.
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