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Event / Action Date:Jun 22, 2026
The Richman Group Affordable Housing Corporation has closed $535 million in equity across two affordable housing tax credit multi-investor funds, providing significant new capital for affordable housing acquisition, rehabilitation and new construction nationwide.
The two funds will finance nearly 50 properties across 27 states, representing more than $1.5 billion in total development costs. Collectively, the properties are expected to provide affordable housing to more than 4,000 households. The Richman Group |
The investments will serve families, seniors, veterans and formerly homeless individuals. More than 40% of the units financed through the funds will target households earning less than 50% of their local area median income.
The developments will also incorporate energy-efficient features and are expected to create jobs while expanding or preserving the supply of affordable housing in their respective communities. The Richman Group |
The funds attracted institutional capital from major banks and insurance companies. According to Richman, the investments provide participating institutions with Community Reinvestment Act-qualified investment opportunities.
The latest closings bring The Richman Group's equity raised across multi-investor and single-investor funds during the past year to more than $1.4 billion.
The transaction also adds to Richman's extensive affordable housing investment platform. The firm reports that it has raised approximately $20 billion in equity to finance affordable housing production over its history. Its current portfolio encompasses nearly 1,200 properties and more than 102,000 units nationwide. The Richman Group |
The $535 million closing underscores the continued role of institutional equity and the Low-Income Housing Tax Credit market in financing affordable housing development and preservation at scale. With more than $1.5 billion in underlying development activity, the funds will deploy capital across a geographically diverse portfolio spanning 27 states.
The $535 million investment represents a significant infusion of private capital into affordable housing construction and preservation. The funds will support more than 4,000 households across 27 states while demonstrating continued institutional investor demand for LIHTC investments.
Affordable housing developers and owners, LIHTC investors and syndicators, banks and insurance companies, state housing finance agencies, property managers, and more than 4,000 households expected to be served by the financed properties.
The Richman Group Affordable Housing Corporation has closed $535 million in equity across two affordable housing tax credit multi-investor funds. The capital will support the acquisition, rehabilitation and new construction of nearly 50 properties across 27 states, representing more than $1.5 billion in total development costs and housing for more than 4,000 households.
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