Asset manager R4 Capital has arranged $17.3 million of equity and $43 million in tax exempt financing for housing preservation in Los Angeles.
R4 plans to use the funding to acquire, renovate and preserve low-income apartment housing.
It recently completed work on Verdes del Oriente, a 113-unit subsidized garden apartment complex in San Pedro, a neighborhood located at the entrance to the Port of Los Angeles, the biggest port in the United States.
New York City-based R4 Capital and its affiliated mortgage lending platform, R4 Capital Funding, jointly arranged the $17.3 million in equity investment and $43 million in tax-exempt financing for Orbach Affordable Housing Solutions to buy and renovate low-income apartment housing in Los Angeles.
Finance reporter Pat Maio can be reached at email@example.com or (323) 556-8329.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- The Chicago School Moves L.A. Campus to Aon
- Skyview Capital Completes Acquisition of Customer Care Assets of Conduent
- Crescent Acquisition Corp. Begins Trading on Nasdaq
- Troy Capital Announces $200M Fund to Provide Liquidity to Pre-IPO Employees, Investors
- Ares Management Converts to Corporation From Limited Partnership
- Highview Capital Buys Frontier Fire Protection, Gears Up for Major Expansion
- CIM Buys Historic Desmond Office and Retail Building in L.A.’s Miracle Mile District