Greystone Real Estate Capital has closed a $103 million multi-investor low-income housing tax credit (LIHTC) fund.
Greg Voyentzie
Greystone Affordable Housing Fund I will support the development and preservation of nearly 1,000 affordable housing units across 11 properties in six states—Louisiana, Massachusetts, Mississippi, New Jersey, Ohio, and Pennsylvania.
This closing of the inaugural fund marks a milestone for Greystone Real Estate Capital, following the formation of the syndication business in early 2024.
“The closing of Fund I is a powerful endorsement of our platform and a testament to the exceptional team we’ve built, the depth of our relationships, and the unwavering support of our parent company,” said Greg Voyentzie, CEO of Greystone Real Estate Capital. “We’re honored to partner with such a committed group of investors and developers, all relationships built on a foundation of trust, respect, and a shared purpose to deliver high-quality, affordable housing where it’s needed most.”
The firm worked with seven institutional investors from the financial and insurance sectors on its first fund.
In addition to expanding affordable housing, the fund’s developments are expected to generate a major economic boost, including 1,100 new jobs, $132 million in wages and business revenue, and $49 million in tax revenue.
Greystone Real Estate Capital is part of Greystone, a leading national commercial real estate finance company in multifamily and health care finance. It is a top Federal Housing Administration, Fannie Mae, and Freddie Mac lender.